Family owned personal care products group
Service(s): Restructuring Services
Sector: Manufacturing
This UK based group has operations in the US, Middle East, Europe and India. The Company’s debt was originally provided by an Icelandic bank, and this was subsequently transferred to a US bank, upon the collapse of the lender.The company had underperformed expectations and the new lender was running out of patience.
FRP Advisory’s Restructuring Team was engaged by the Company to restructure the debt and equity, bringing it to a more sustainable level. As part of this restructuring, he led lengthy negotiationswith the new bank, resulting in a reduction of debt by approximately 75% - over €70m. This was achieved whilst creating excellent working relationships with the bank that the FRP Advisory Restructuring Team had always enjoyed.
The model used by the FRP Advisory team to restructure the Company’s debt and equity has played a key role in ensuring a successful future for the Company and has also driven the restructuring plan for the group as a whole.
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