Configure Partners Advises Food & Beverage Distributor on Successful Restructuring
Atlanta, GA — Configure Partners, LLC (“Configure”), a leading middle-market investment bank, is pleased to announce the successful completion of a strategic advisory and out-of-court debt restructuring engagement for a private equity-backed specialty food and beverage distributor to restaurants (the “Company”).
Configure was retained by the Company to assess and evaluate potential strategic and financial alternatives, including, but not limited to (i) a sale of the Company, (ii) a refinancing of the existing lender group, (iii) a restructuring of the capital structure, and (iv) an amendment with the existing lender group.
When the Company was significantly affected by COVID-19 as well as other negative impacts to the business, it became clear that a refinancing or sale of the Company was not feasible in the current environment. Configure quickly shifted focus to negotiate a consensual out-of-court restructuring transaction, led by the incumbent lender group.
The Configure team leveraged deep special situations, liability management, debt capital markets, and transactional experience to drive a value maximizing result to all stakeholders involved in which the lender group ultimately took control of the Company while significantly deleveraging the balance sheet. The new capital structure will allow the Company to fully recover from COVID-19, pursue new opportunities, and ultimately build to a successful exit.
“This engagement is emblematic of Configure’s experience and ethos. The engagement team adjusted course numerous times throughout the course of the engagement and each time was seamless. Most importantly, the team was dogged in their pursuit of the best possible outcome for our client despite unprecedented challenges presented by COVID-19,” said Joseph Weissglass, Managing Director at Configure Partners.
About Configure Partners (configurepartners.com)
Configure Partners is a preeminent credit-oriented middle-market advisory boutique with offices in Atlanta. The firm provides investment banking and financial advisory services surrounding credit and creditor’s rights, providing actionable advice and results-oriented execution. Configure’s Debt Placement practice designs bespoke financing solutions for borrowers to support leveraged buyouts, acquisitions, refinancings, and dividend recaps, among other strategic objectives. The firm’s Credit Resolutions practice is the trusted advisor to lenders and their borrowers when confronting business, liquidity, or capital structure challenges. Securities transactions offered through affiliated brokerdealer Configure Partners Securities.
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