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Case Study
sident & CFO

A producer and marketer of nature-themed media with $24 million in revenue was in the depths of crisis.  PE ownership hired a turnaround expert to right the ship.


Turnaround & Restructuring Initiatives

  • The company had lost its major customer, Target, and was incurring significant losses.

  • The Founder resigned, and his replacement CEO also abruptly resigned, leaving the company without executive leadership during a crisis.

  • Improved cash management controls and procedures.

  • Negotiated and closed a financial restructuring, including a debt-for-equity exchange and new bank financing agreements.

  • Defined and refocused business and marketing strategies.

  • Recruited a replacement CFO and reorganized senior management.

  • Developed and implemented an internet strategy.

  • Launched the company’s first website with e-commerce capability.

  • Renegotiated all major product distribution agreements.

  • Settled outstanding material litigation.

  • Assisted in the search for and hiring of a permanent CEO.


  • Reduced outstanding revolver debt by 60%.

  • Replaced $10 million of subordinated debt with equity.

  • Established a renewed emphasis on new product / merchandiser development.

    • Implemented in-and-out programs with Walmart for in-aisle displays utilizing chip-based music sampling technology.

    • Landed major contract with Linens ‘n Things.

    • Developed and introduced several successful new products (e.g 3-wick candles with CD enclosed).

  • Restored EBITDA profitability.

  • Transitioned the company to a permanent CEO.

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