Restructuring and Debt Advisory

The expertise gained in both industry and commerce enables our specialist partners and senior staff to provide an independent and objective opinion that is particularly welcomed by the owner-managed business sector and their funders.

Campbell Dallas has experience across a variety of industry sectors such as manufacturing, building/construction, retail, hotel and leisure, property, technology, fish farming, food and drink and energy.

Independent Business Review

We will facilitate a strategic business review to determine the best route for a business to follow to maximise business effectiveness. Our experience includes advising banks, asset based lenders, credit giving suppliers, directors and shareholders on reconstruction and/or turnaround where there have been difficulties with management, cash, profitability or indeed all three. Often this leads to greater lender protection, and/or refinancing.

Business Monitoring

Following on from the business review we can implement suitable performance measurement systems to monitor the progress of the business in meeting the goals and objectives decided at the review stage. We work alongside management to flag issues early, take action and continually improve the performance of the business. Our specialist partners are contactable at all times.

Our assistance can include:

  • Systems overhaul;
  • Financial planning/modelling;
  • Implementation, assistance and project management;
  • Secondment of experienced personnel.

Restructuring/Refinancing

Once the business stability has been returned it may be prudent to restructure and refinance the business. We have the banking, financial and commercial knowledge and contacts to select the appropriate finance/restructuring vehicle to meet the business and owner's strategy including:

  • Assessment of security and serviceability for potential bank funding and appropriate equity partners;
  • Equity investment;
  • Owner capital/recapitalisation;
  • S110 Insolvency Act reconstruction;
  • Other e.g. sale and lease back of surplus assets.

Disposals

In some cases the best way to maximise shareholder value is a complete or partial disposal. Including a full disposal service comprising:

  • Identification of potential purchasers;
  • Management of sale process;
  • Integrated taxation advice;
  • Merger implementation assistance.

Our Success

  • Demerger of a construction business into two distinct businesses using S110 of the Insolvency Act to protect shareholder value from business risk.
  • Business review of a manufacturing company introducing the cessation of unprofitable product lines. Returned the business to profitability and a positive net cash flow. Eventual disposal of entire share capital realising significant shareholder value.
  • Business review of a property consultancy resulting in closure of various geographical offices and reforms of business on key service lines. Restructured bank debt to allow funder and shareholders to enjoy a more robust, financially stable business.
  • Advising Directors and Shareholders on a company textile industry. Monitoring the sale of a subsidiary, leasing of surplus property assets and refinancing factored debts to allow the company to reduce costs and increase cash generation. this resulted in all funders receiving their money back and a viable business going forward.
  • Implementing changes to management structure, costing processes and management information in food manufacturing businesses. Now trading profitability and generating wealth for proprietors.
  • Reconstruction for tax and succession purposes of companies in various sectors including manufacturing and construction using S110 of the Insolvency Act.

In addition, in 2010 the Corporate Finance Team were named Dealmaking Team of the Year at the annual Insider Deals:Dealmakers Awards ceremony. In winning the award, the judges recognised the team's unique approach to each transaction and as mentioned earlier, the team's ability to 'think outside the box' and bring creative solutions to perceived problems.

For further information or advice please speak to Chris Horne on 0141 886 6644 or email corporate.finance@campbelldallas.co.uk.

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