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Turnaround & Restructuring 

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Andrew Pendleton
Turnaround & Restructuring Practice
andrew.pendleton@seatonhill.com

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What SeatonHill Can Do For You

  • Interim Executive Leadership

  • Debt Restructuring & Lender Negotiations

  • Bankruptcy Planning & Implementation

  • Creditor Advisory

  • Independent Director / Board Member

  • Liquidity Management

  • Stakeholder Relations

  • Fiduciary Services

  • Litigation Support & Forensic Accounting

  • Expert Witness Testimony & Consulting

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𝗗𝗮𝗹𝗹𝗮𝘀/𝗙𝗼𝗿𝘁 𝗪𝗼𝗿𝘁𝗵 𝗢𝗳𝗳𝗶𝗰𝗲 – PE Portfolio and Public Companies

As CFO, was instrumental in turning around and restructuring a $100 million PE-owned commercial printing company, a $40 million public medical device company, a $20 million PE-owned geospatial and aerial mapping services firm and a $42 million public fabless semiconductor company

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Brian Alleman
Partner

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𝗢𝗿𝗹𝗮𝗻𝗱𝗼 𝗢𝗳𝗳𝗶𝗰𝗲 – General Contractor

Brought in to turn around a general contractor that was effectively bankrupt – reduced workforce 10%, streamlined payment processes, developed a go-forward plan; the company continued functioning and creating value without filing for bankruptcy

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Brett Beemer
Partner

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Chicago 𝗢𝗳𝗳𝗶𝗰𝗲 – 4 Different Industries

Turned around four companies, all in different industries, while serving either as CFO, COO, or President | All four transformations turned ongoing losses into recurring annual profits while increasing revenues by 100% to over 400% | Three of the four turnarounds involved successful exits, with two sales to strategics and one management buyout

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Frank Bisconti
Partner

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𝗗𝗮𝗹𝗹𝗮𝘀/𝗙𝗼𝗿𝘁 𝗪𝗼𝗿𝘁𝗵 𝗢𝗳𝗳𝗶𝗰𝗲 – Family Office Portfolio

Stepping in as President & CFO of a large manufacturer in Chapter 11, oversaw development and execution of the Plan of Reorganization and successful exit from bankruptcy | restructured $60 million in debt for a Family Office portfolio of unprofitable companies – sold off or closed losing operations and re-invested the proceeds.

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James Emmons
Partner

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𝗗𝗲𝘁𝗿𝗼𝗶𝘁 / 𝗔𝘁𝗹𝗮𝗻𝘁𝗮 𝗢𝗳𝗳𝗶𝗰𝗲𝘀 – Tier 1 Tier 2 Suppliers

Advisor to the Independent Directors and a Confidential Buyer pertaining to the §363 sale of a Tier 1/Tier 2 Supplier | secured emergency debt funding and restructured the holding company for a Tier 1 Supplier | for a vehicle manufacturer, sold underutilized assets, refinanced a $34 million facility and raised $32.4 million equity.

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Kevin Grady
Partner

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𝗛𝗼𝘂𝘀𝘁𝗼𝗻 𝗢𝗳𝗳𝗶𝗰𝗲 – Oil & Gas Bankruptcies

Debtor’s Financial Advisor in the Subchapter V Chapter 11 bankruptcy of an oil & gas company | Corporate Controller handling the Chapter 11 restructuring of a public oil & gas company with six affiliated companies | Debtor’s Financial Advisor in the Chapter 11 bankruptcies of five affiliated petrochemical companies.

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David Gullickson
Partner

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San Diego 𝗢𝗳𝗳𝗶𝗰𝗲 – M&A, PIPE financing

Restructured $2.5 million of debt to equity | secured $10 million in debt and equity financing | led all areas of finance and operations to turn around and position a company for growth | secured over $50 million in PIPE financing | orchestrated three mergers, eight acquisitions, three divestitures and one management buy-out.

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Mary Hoitt
Partner

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𝗛𝗼𝘂𝘀𝘁𝗼𝗻 𝗢𝗳𝗳𝗶𝗰𝗲 – Automotive, Food Manufacturer

Turned around a $175 million PE-backed automotive remanufacturer of transmissions and engines with negative EBITDA and minimal business value – achieved $37 million in EBITDA and sold the company for $191 million | turned around a publicly-held food manufacturer and negotiated the sale for 4x market value.

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Gene Jones
Partner

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𝗗𝗮𝗹𝗹𝗮𝘀/𝗙𝗼𝗿𝘁 𝗪𝗼𝗿𝘁𝗵 𝗢𝗳𝗳𝗶𝗰𝗲 – Healthcare

Coordinated turnaround and restructuring efforts for multiple PE-sponsored healthcare companies: a $350 million provider of durable medical equipment and home infusion services, a $225 million hospice services operation, a $35 million infusion services business and a$150 million provider of phlebotomy services, medical record retrieval, underwriting services and tele-interview services.

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Bill Keys
Partner

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𝗗𝗮𝗹𝗹𝗮𝘀/𝗙𝗼𝗿𝘁 𝗪𝗼𝗿𝘁𝗵 𝗢𝗳𝗳𝗶𝗰𝗲 – Software, Leasing, Railroad Company

Oversaw the Chapter 7 filing of a VC-backed startup software company – sold the software and IP to investors | restructured $150 million of bank lease and debt financings for a railcar leasing operation in bankruptcy | led the restructuring of a railroad company to reduce debt, infuse equity, and create a profitable operation.

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Bob Kiehnle
Partner

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New York 𝗢𝗳𝗳𝗶𝗰𝗲 – PE-owned Nurse Staffing Business

As Chief Restructuring Officer, directed the restructuring and sale of a PE-owned nurse staffing business | As CEO, increased the EBITDA of a PE-owned clinical research organization in one year from negative $4.4 million to positive $4 million pro forma | As CEO, restructured a PE-owned producer and marketer of nature-themed media

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Jack McGovern
Partner

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𝗛𝗼𝘂𝘀𝘁𝗼𝗻 𝗢𝗳𝗳𝗶𝗰𝗲 – Financial Advisor in Bankruptcies

As Debtor’s Financial Advisor, formulated and negotiated a successful Chapter 11 Plan of Reorganization | generated favorable outcomes for clients in Chapter 11 litigation by performing solvency analysis surrounding fraudulent transfer claims, developing expert witness support, and providing enterprise valuation services.

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Don Owen
Partner

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Boston 𝗢𝗳𝗳𝗶𝗰𝗲 – Egg producer

Brought in to turn around the 6th largest egg producer in the U.S. on the heels of this public company’s failing acquisition – negotiated waivers and amendments, restored profitability and liquidity, avoided bankruptcy, all stakeholders got out whole, nominated for the TMA Middle Market Deal of the Year.

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Thomas Powell
Partner

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New York 𝗢𝗳𝗳𝗶𝗰𝗲 – Healthcare IT

Oversaw the Chapter 11 filing and developed the Plan of Liquidation for a healthcare IT company | Coordinated negotiations with investors and claimants | Negotiated the sale of intellectual property and other assets | As a Consultant to the SBA, managed the sales and liquidations of portfolio companies held by the estates for SBICs in receivership

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Rhonda Rosen
Partner

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𝗛𝗼𝘂𝘀𝘁𝗼𝗻 𝗢𝗳𝗳𝗶𝗰𝗲 – Distribution, REIT, Board Director

Interim President & CEO of a $500 million multi-state distributor – secured a $50 million credit facility, consolidated and realigned distribution centers, positioned the company to attract new investors | served as board member of a publicly traded REIT and an Advisor regarding its bankruptcy procedures.

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Ken White
Partner

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𝗖𝗵𝗶𝗰𝗮𝗴𝗼 𝗢𝗳𝗳𝗶𝗰𝗲 – Expert Witness

Turned around companies across multiple industries in a variety of roles, including General Manager, CFO, and Turnaround Advisor | Operated and sold the assets of numerous companies through Receiverships and Assignments for the Benefit of Creditors | Testified as an Expert Witness in Chapter 11 cases | Provided Creditor Advisory services

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Frank S. Wojtowicz
Partner

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𝗖𝗵𝗶𝗰𝗮𝗴𝗼 𝗢𝗳𝗳𝗶𝗰𝗲 – Industrial, Public, and Private Companies

Turned around the $100 million Ukrainian subsidiary of a publicly traded industrial company | restructured the $900 million global consulting division of a public company | turned around the $20 million division of a private company | turned around and recapitalized a $15 million venture-owned battery manufacturer.

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Steve Wolff
Partner

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Dallas / Fort Worth 𝗢𝗳𝗳𝗶𝗰𝗲 –Retail/Wholesale, Restaurants, Entertainment

Saved $750,000 upfront and $400,00 annually for a $30 million multi-location entertainment company through negotiations with senior lender, landlords, vendors and insurance | negotiated step-up covenants for a $120 million restaurant chain | served as CFO in the restructuring of a $250 million beverage retailer & wholesaler.

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Jeff Wonsmos
Partner

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𝗖𝗵𝗶𝗰𝗮𝗴𝗼 𝗢𝗳𝗳𝗶𝗰𝗲 – Nursing Facilities, Automotive Supplier

Divested five skilled nursing facilities, sold another in a §363 sale, and refinanced $225 million of public bonds | earned the TMA Turnaround and Global M&A Network Atlas awards | restructured an automotive supplier and consumer products companies through §363 sales and an Assignment for the Benefit of Creditors.

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Robert Zimmer
Partner

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