Case Study
President & CFO
Media

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.

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.