Deloitte CRG featured engagements
Explore our noteworthy engagements
The Deloitte Corporate Restructuring Group (Deloitte CRG) works with leading large multinational and mid-market companies to help them through unique challenges. Deloitte CRG applies in-depth knowledge and valuable foresight to help achieve effective outcomes for you as well as creditors and equity holders.
Label Printing and Converting Company
Deloitte CRG initially acted as financial advisor for a leading printing and converting company that has operated successfully since the early 1900s. The global manufacturing company specializes in prime decoration (labels, sleeves, sachets, and coupons) for branded consumer products primarily in the personal care, battery, and pharmaceutical end-markets. After several years of profitable operations, the company started having severe liquidity issues due to its global growth strategy. As liquidity issues worsened, Deloitte CRG was appointed chief restructuring officer (CRO), working closely with legal counsel in pursuit of alternate strategies for either a Chapter 11 or non-bankruptcy sale process. As CRO, Deloitte CRG assisted with many aspects of liquidity including unsecured creditor relationships to stabilize and maintain source of supply. We assisted the company in obtaining customer material support to mitigate supply chain disruptions, advised on secured lender issues, assisted the company to develop cash flow and borrowing base projections, assisted to improve working capital, implemented operating cost reductions, and assisted in the sale of assets and balance sheet restructuring on an out-of-court basis to preserve long-term customer and vendor relationships.
Oilfield Services Company
Deloitte CRG provided bankruptcy accounting and valuation services for a $525 million provider of well site services in the United States to oil and natural gas drilling and producing companies.
Manufacturer and Distributor
A $275 million manufacturer and distributor of valves for the petrochemical industry hired Deloitte CRG to perform a business and operations assessment, assist management with development of a 13-week cash flow, and facilitate developing an annual budget. The company required the assessments and 13-week cash flow for refinancing with its lenders. The company was able to achieve a refinancing after the reports were presented to the company’s lenders.
Deloitte CRG was hired by a $4 billion global manufacturer to assist with the company’s managed exit tax record retention requirements with respect to winding down various domestic and international sites. Deloitte CRG assembled a scalable team of restructuring, tax, and IT specialists from our network of the global member firms of Deloitte Touche Tohmatsu Limited and worked with the company to assess its tax record retention requirements and assist with the tax record retention execution for the identified sites.
Specialty Food Distribution Company
Deloitte CRG was retained by a $200 million specialty foods importer and distributor. Deloitte’s professionals were retained to evaluate the company’s near-term working capital and liquidity needs, business plan, financial projections, and turnaround initiatives. In addition, Deloitte’s professionals are working with the company to develop potential improvements to profitability including SKU rationalization and restructuring of the company’s distribution footprint.
Food Product Distributor
A successful $1 billion distributor of food products engaged Deloitte to assist the company in developing their five-year strategic plan. Deloitte worked closely with the board and senior management to develop a detailed financial model to allow the simulation of several strategic initiatives being considered by the company. Modeling various scenarios in one integrated model, provided the company with a better understanding of its cash needs, debt requirements, impact to working capital, capex requirements, sales, and EBITDA for all initiatives. A rapid operations diagnostic identified several potential projects to improve profitability and improve inventory turns. One specific element of these initiatives was SKU rationalization.
Engineered Products Producer
Deloitte CRG was retained by the agent bank to perform a detailed assessment of the company’s business plan and its existing 13-week cash flow model. During this engagement, Deloitte CRG identified potential areas for concern and opportunities for outperformance in the existing plan. Additionally, Deloitte CRG constructed an expanded version of the company’s forecasting tool to improve accuracy and increase reliability.
Liberal Arts University
Deloitte CRG was engaged to provide advice to the primary benefactor of a not-for-profit Liberal Arts University challenged with financial and operational issues and high leadership turnover. Deloitte CRG advised on strategic alternatives and developed both a short-term cash flow model and a three-year, multiple scenario model to assess the impact of various strategic options.
Deloitte CRG was recently hired by a major metropolitan newspaper group to analyze its cost base and key business processes as it transitions from a print centric to a multi-media publishing group. Functions reviewed included advertising, IT expenditure, editorial, and G&A spend, as well as developing the project plan to realize the identified benefits.
C&J Energy Services Ltd. (C&J)
C&J, a $1 billion oilfield services company, hired Deloitte CRG and Deloitte's valuation professionals to provide technical accounting advice and valuation services in support of its emergence accounting effort.
Industrial distribution company lenders
Deloitte CRG was recently hired by the lenders to a $1 billion industrial distribution company to assess the company’s weekly cash flow forecast, long term business plan/financial model, and evaluate the impacts of a sale to one of the company’s business units.
Leading specialty retailer
A specialty retailer with more than 600 stores and $800 million in sales engaged Deloitte CRG to support its emergence accounting effort. Deloitte CRG, working closely with Deloitte Tax LLP, is advising the company on various complex tax, industry, and technical accounting items related to its Chapter 11 emergence.
International mining company
Deloitte CRG was retained by one of the world’s leading vertically integrated manufacturers of custom-engineered rare earth and rare metal products to assist with its emergence accounting efforts. To assist the company, Deloitte CRG has assembled a cross-border team of specialists who are working closely with Deloitte LLP in Canada to be able to advise the company on various complex valuation, industry, and technical accounting items.
Senior secured credit facility
Deloitte CRG was recently retained to provide financial advisory and restructuring services to the administrative agent of a $200 million senior secured credit facility. The borrower is a national, privately-held health care company that provides outpatient surgical services. Deloitte professionals are assisting the administrative agent evaluate the borrower’s near-term liquidity needs, business plan, financial projections, and turnaround initiatives. In connection with this engagement, our team is bringing its deep health care industry experience inside of Deloitte.
Deloitte CRG currently serves as the financial advisor to the secured lender of a multi-concept restaurant chain to provide a business assessment, including four-wall profitability analysis, and analyze certa in transactions related to the borrower’s joint venture operations.
Heavy Equipment Rental Company
Deloitte CRG currently serves as the financial advisor to a heavy equipment rental company that has experienced a number of issues including softness in utilization, an aging asset base and an over-levered capital structure. Deloitte CRG was retained to assist the company in the analysis and of exploration of potential strategic alternatives. As part of the analysis, Deloitte CRG assisted management in the development of a five-year fully integrated operating plan, identification of non-core assets and an assessment of potential cost rationalization opportunities.
Confidential Global Defense Logistics
Deloitte CRG has been retained by this global supplier of defense materials and logistics to assist management in developing more coordinated global treasury and liquidity management functions. Our professionals are working with management to improve liquidity management and to create management tools to monitor and adjust for changes to the shift between domestic and overseas liquidity generation.
El Paso Children’s Hospital
Deloitte Corporate Restructuring Group (Deloitte CRG) currently serves as the interim chief executive officer and financial advisor to the El Paso Children’s Hospital. The 122-bed hospital recently emerged from Chapter 11 and is an affiliate of the University Medical Center of El Paso.
A $2.5 billion1 leading manufacturer of technologically advanced printed circuit boards and custom electronic assemblies engaged Deloitte CRG’s performance improvement team to project manage the transition of their Mexico facility to China. The scope of the project includes final production, equipment transfer, and facility renovation and release.
1 Pro forma 2014 revenue including Viasystems
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