Client Situation Resolution

Annie’s Homegrown, LLC

 The company, producers of organic foods experienced a surprising large operating loss while liquidity deteriorated to an alarmingly low level one year after purchase by a PE fund. An ABS professional served as interim CFO and COO in response. Implemented a comprehensive improvement program including cost reduction, working capital improvement and new product growth enabling the acquisition of a similar company. Ultimately, the Company successfully went public.

Coty US, Inc.

 The Company, is a large perfume and cologne product company selling primarily to “big box” retailers. An ABS professional participated in the implementation of a revised business process to ensure a reimplementation of a failed ERP project was successful. Performed a compressive process analysis to enable the reimplementation of the system. This analysis consisted of modifications to certain management positions, performance measures and business processes which resulted in a successful reimplementation of the system.

Freshmark, Inc.

 Regional food processing company with annual revenue of approximately $0.3 billion required a significant improvement in profitability. An ABS professional led a study of the Company’s strategy and operations. Built an activity based costing model and performed process cost analysis which identified cost reduction and product portfolio optimization opportunities which totaled 2x annual EBITDA.

Dexter Distributing, LLC

 The Company, a distributor and retailer of exotic products, had 18 retail locations in the Western U.S. An Examiner was appointed by the Court to investigate 12 questions related to the Board of Directors’ fiduciary duties. An ABS professional led a team serving as financial advisor. Three years of financial information was examined to support the investigation and a report was presented to the Court. The Court had favorable comments with respect to the findings in the report which ultimately led to a settlement among the disputing parties.
Private Consumer Products Company A consumer products company uncovered significant accounting irregularities. These, in turn, led to large prior period adjustments and credit facility defaults. An ABS professional was engaged to assist the company’s negotiations with creditors. A strategy was developed allowing the company to maintain profitability and offer a future cash flow stream to creditors, without impairing the secured lender.
Private Retail Company A growing retail chain needed capital to fund its substantial growth. An ABS professional was retained to source financing. A strategy was developed to maintain profitability and to demonstrate the strength of the company’s sound strategy. This was the basis for funding from a new syndicated financing group.
Private Grocery Chain A growing retail chain needed capital to fund its growth. An ABS professional led a team through the assessment of the company’s financial strategy. An assessment of the company’s assets was performed. The assessment showed that the value of the company was adequate to support the financing needed to fund growth. As a result, the Company was able to obtain growth financing.