AEG recently teamed with the Thompson Coburn Law Firm and Stifel Financial to discuss issues facing distressed higher education institutions. Craig Dean, Managing Principal, who has worked on many aspects of school restructurings, participated from AEG. Discussions covered a range of issues relevant to today’s environment, including internal restructuring actions, merger and acquisition strategies as well as more drastic measures such as orderly campus closures. Thompson Coburn Education Practice Head Aaron Lacey led the panel, which also featured Brian Dietze, Head of the Education Investment Banking Group at Stifel Financial. The recording of this webinar and presentation slides can be viewed at:
webinar recording: https://www.thompsoncoburn.com/insights/tcle/presentation/detail/2020-04-02/contingency-planning-for-distressed-institutions-of-higher-education
slide presentation: https://on24static.akamaized.net/event/22/52/74/8/rt/1/documents/resourceList1586358815218/202048hewebinardistressedinstitutionsfinal1586358813819.pdf
AEG recently completed a Chief Restructuring Officer engagement, leading a Southeast-based automotive tooling business through a restructuring and sale. With the Company facing a severe liquidity crisis and overburdened with debt, the AEG team worked quickly to rationalize operations, stabilize the business and keep its supply chain active. Without additional capital available to support the business, AEG believed the long term core strengths of the business, including an extensive installed base of production machines and a strong reputation for quality tooling, was sufficient to attract potential acquirers. Moving under extreme time pressure, AEG worked closely with the Company’s secured lender to complete the sale via an Article 9 foreclosure process – providing a more cost efficient, timely and certain path to the transaction. Despite two potential acquirers stepping away at the closing table, AEG was able to extend the operating runway to close the acquisition by a foreign based, strategic buyer.