AEG Partners | Restructuring Advisory and Turnaround Management | News & Views
This links to the home page
News & Views
FILTER BY:
  • AEG Advises Family Office on Underperforming Investment
    08/01/2019

    AEG Partners advised a family office on issues related to a joint investment with a well-known private equity sponsor.  Despite growing demand for the company’s services, underperformance issues strained liquidity and caused lenders to tighten credit agreement covenants.  AEG assisted the family in negotiating a restructuring agreement among the senior debt, subordinated debt and other equity holders, which successfully provided runway to stabilize operations and resume the company’s growth path.

  • AEG Prepares Liquidity Challenged Distributor for Successful Sale Process
    06/12/2019

    AEG was recently engaged by a West Coast based, global distributor of consumer products during a period of strained liquidity and declining availability under its  credit agreements.  Private ownership and the executive team retained AEG to build an accurate and timely cash forecasting process that was transitioned to the Company’s financial team going forward.  At the same time, AEG assessed and identified improvements in the Company’s restructuring plan, created the associated three year financial forecast, and facilitated the sale process in close coordination with the Company’s  investment banker.

  • Craig Dean Presents at the 2019 NASASPS Annual Conference
    04/22/2019

    Craig Dean, AEG Managing Principal, led a joint presentation with Aaron Lacey, Partner at the Thompson Coburn law firm, at the 2019 NASASPS Conference held on April 15 and 16 in Jacksonville, Florida. The presentation explored restructuring options available to operators of higher education schools. The National Association of State Administrators and Supervisors focuses on effective state regulation of private postsecondary education.

  • AEG Steps in as CRO for Building Products Company
    01/10/2019

    AEG was recently retained by a west coast manufacturer of building products as Chief Restructuring Officer.  Based on structural changes in its primary markets, the company's profitability has been under pressure.  AEG's work will focus on rationalizing expenses, implementing performance improvement initiatives, and developing a comprehensive restructuring plan for the senior, mezzanine and equity capital.

  • Health Care Provider Retains AEG to Assess Performance and Liquidity
    10/15/2018

    AEG was recently retained by an operator of a chain of urgent care facilities to assist in reviewing performance issues brought on by management turnover and declining performance metrics.   Working closely with the Company’s leadership team, AEG’s role included refining the company’s cash flow forecasts,  validating the impact of cost reduction initiatives, and assisting management in identifying substantive opportunities to improve performance.  The Company is now pursuing a capital raise.

  • AEG Expands Restructuring Team
    08/15/2018

    Jaron Hite has joined AEG Partners in the role of Associate to assist with client restructuring activities.  At AEG, Jaron will serve on client teams and assist in developing cash flow and three statement models, as well as providing overall analytical support.   He brings a strong background in evaluating and analyzing operational effectiveness, due diligence analyses, and in assessing financial strengths and weaknesses of client operations.  Jaron previously served on the audit staff at Ernst and Young before joining RedRidge Finance Group, where he was involved with a wide range of corporate due diligence activities.

  • Contentious Restructuring Leads to AEG Engagement
    05/14/2018

    AEG Partners was recently engaged by a senior lender group to a transportation services group involved in a contentious restructuring.  AEG is providing a detailed assessment of the strategic options available to the lenders, and assistance in negotiations.  The work includes an assessment of management’s turnaround strategy and options to divest or exit certain lines of business.

  • AEG Addresses Consignment Inventory Challenges
    04/02/2018

    AEG Partners was recently retained  by a profitable but underperforming health care products manufacturer to develop a consignment inventory management and measurement plan.  AEG led a cross-functional implementation process to establish a consistent, reliable methodology to track inventory, as well as establish profitability metrics for deploying consignment inventory.  AEG’s work created the platform for the Company to resume top-line growth. 

  • AEG Conducts a Comprehensive Business Assessment for eCommerce Company
    01/16/2018

    AEG Partners was recently engaged to conduct a comprehensive business assessment for an early stage eCommerce company serving manufacturers, retailers, installers and service providers in the automotive sector.  The assessment included an industry overview, financial analysis and an in-depth review of the company’s operational capabilities versus market requirements.  As part of the engagement, AEG's work also included identifying go forward liquidity requirements to support the Company’s growth plan and become fully operational

  • AEG Appointed CRO for Midwest Distributor
    10/31/2017

    AEG was recently appointed Chief Restructuring Officer for a Midwest-based wholesaler to the supermarket and restaurant sectors. The Company is experiencing stress in the wake of the loss of a major customer. AEG’s role includes assisting the Company in managing liquidity, working with key vendors and monetizing excess assets.  In addition, AEG will work with the Company and key stakeholders to develop a go forward strategy.

  • AEG Retained by Leading Medical Device Manufacturer
    09/05/2017

    AEG Partners’ performance improvement team was recently hired by a leading medical device manufacturer to complete a comprehensive assessment of the company’s manufacturing and production activities as well as sales channel strategy.  AEG’s role includes evaluation of manufacturing costs, inventory management processes, customer fulfillment issues and the effectiveness of the company’s go to market activities.  Dave Riesmeyer, Managing Director, is leading the engagement on behalf of AEG.

  • AEG Leads Panel Discussion at TMA Meeting in Houston
    03/08/2017

    AEG Partners led a panel discussion during the February meeting of the Houston Turnaround Management Association. The panel explored the key drivers and lessons learned during the turnaround of Houston based Compressor Engineering Corp. (“CECO”), where AEG held the positions of CRO and Interim CFO.  CECO was the 2016 Chicago/Midwest Chapter Large Company Turnaround of the Year Award winner.

  • For-Profit College Retains AEG to Assist in Restructuring
    01/17/2017

    A Midwest based for-profit secondary education company recently retained AEG Partners to evaluate strategic options and to assist in managing liquidity.   The Company has been challenged with both financial and operational issues as well as general enrollment headwinds impacting the entire industry.  In working with management and the private equity owner, AEG has developed cash management tools, assisted in vendor negotiations, identified near term pockets of liquidity, and helped define and assess the impact of various strategic paths going forward.

  • Lender Group Retains AEG to Assess Turnaround Strategy
    12/15/2016

    AEG Partners was recently retained to provide business assessment and restructuring services to the agent of a $75 million secured credit facility.  The borrower is a logistics company with extensive operations throughout North America.   AEG’s work focuses on assisting the bank group in evaluating the company's liquidity requirements, assessing the company’s financial plan and turnaround initiatives, and evaluating strategic alternatives.  In addition to restructuring specialists, AEG brings extensive logistics / supply chain expertise to the engagement.

  • AEG Assists Auto Parts Manufacturer with Liquidity and Operational Challenges
    12/01/2016

    AEG Partners has been retained by a leading Midwest based automotive components manufacturer as financial advisor to provide a business assessment, assistance in managing near term liquidity issues and identifying operational improvement opportunities.  AEG’s role also includes identifying viable strategic alternatives for the company and leading restructuring negotiations among the senior, mezzanine and equity stakeholders.

  • AEG Retained as Interim CFO to Assist a Real Estate Company in its Growth and Development of Financial Systems
    11/01/2016

    AEG Partners was recently retained by a Real Estate Development company to assist in the company’s growth and the development of its financial systems.  AEG is acting as interim CFO focused on strategic assistance with various real estate development activities, improvements in financial reporting and the restructuring of certain portfolio assets.   The engagement is led by Dave Riesmeyer who heads AEG’s CFO Advisory practice.

  • AEG Partners Recognized with Large Company Turnaround of the Year Award
    10/06/2016

    AEG Partners is pleased to announce it has been awarded the 2016 Large Company Turnaround of the Year Award from the Chicago/Midwest Chapter of the Turnaround Management Association for its work related to Compressor Engineering Corporation (CECO).  Based in Houston, Texas, CECO manufactures and repairs compressor parts and performs pipeline integrity work for the energy industry.

  • AEG Adds David Riesmeyer to its Restructuring Team
    08/25/2016

    AEG Partners expands its restructuring practice and CFO capabilities with the recent addition of David Riesmeyer as Managing Director.  In addition to restructuring services. Dave will focus on providing CFO advisory services for private equity and privately held companies.  Dave brings over 30 years of experience working with a wide range of companies as both a corporate executive and strategic advisor.  His expertise ranges across the corporate spectrum, where he has successfully managed acquisitions and related integration, divestitures, plant consolidations, cost reduction programs, accounting controls, information systems and legal dispute resoltuion.

  • AEG Assists Wholesale Distributor in CFO Transition
    08/12/2016

    AEG was recently retained by a Midwest based wholesale distribution company to assist in managing the unexpected departure of the company’s CFO.  AEG’s role includes the development of actionable financial reporting and cash forecasting tools from a recent but incomplete system implementation as well as mentoring the Treasurer toward greater responsibilities.  AEG is also assisting management in its discussions with the company’s lenders.

  • AEG Speaks on AM&AA Panel
    07/27/2016

    In late July, Craig Dean, Managing Principal of AEG Partners, participated in the Alliance of Merger & Acquisition Advisors (AM&AA) summer conference panel entitled “How to Screw Up Your Future Deal”.  As a member of this panel, Craig provided insight on strategic and tactical mistakes that business owners often make in preparing for an exit, and addressed how advisors can work with their clients to drive better outcomes.  Craig’s participation came at the invitation of Michael Rosenbaum, President of Quadrant Five.

  • Global Consumer Products Company Retains AEG to Assist in Business Transformation
    04/05/2016

    A West coast-based manufacturer and distributor of consumer goods recently retained AEG to advise company leadership on operational performance improvement matters and to review strategic alternatives with stakeholders. AEG worked closely with the executive team to develop the strategic and tactical plan for transitioning and simplifying the business model, downsizing the international operations and improving the purchasing plan.

    As part of the process, AEG identified several areas which substantially improved the company’s near term and long term liquidity position, and assisted in the development of the strategic and financial plan to transform the business improving profitability and operational leverage.

  • 2015 Corporate Advisory and Corporate Restructuring Review
    03/07/2016

    As we wrap up celebrating our 15th year, we wanted to pause and thank our many clients and friends who put their trust in AEG Partners.  We had a very active year, working with a variety of companies and their stakeholders to address their challenges and help businesses recover and rebuild.

  • Craig Dean Addressed Value Creation in Distressed Situations at Recent Kellogg Panel
    02/29/2016

    Craig Dean participated with other experts at a Northwestern Kellogg School of Management Insight Live event on the evening of February 25th.   The panel was moderated by Professor Mitchell Petersen, the Glen Vasel Professor of Finance and Director of the Heizer Center for Private Equity and Venture Capital at Kellogg.   Craig addressed how value can be created through private equity investments for companies in distressed circumstances.

  • Assisting Financial Services Company Victimized by Fraud
    02/02/2016

    AEG Partners was retained as financial advisor to assist a commercial financial services company that was the target of a third-party fraud scheme.  In addition to identifying the extent of the fraud, AEG was charged with leading negotiations with various stakeholders to reach an equitable resolution among the parties.

  • Addressing Unsecured Creditors Concerns in World Marketing Chapter 11
    01/05/2016

    AEG Partners was retained by the unsecured creditors committee in the World Marketing Chicago Chapter 11 case.  AEG's role includes assisting the Committee in evaluating circumstances leading up to the filing, reviewing company's financial and cash flow projections, and evaluating and facilitating viable recovery options.

  • Midwest Retailer Retains AEG to Drive Performance Improvement
    12/15/2015

    A Midwest-based retailer of consumer goods recently retained AEG to advise company leadership on operational performance improvement matters. AEG performed a detailed review of business performance and practices including extensive interviews with management and key employees. Based on this analysis, AEG worked closely with the executive team to develop its strategic objectives and align those objectives with management tactics and incentives. As part of the process, AEG developed a series of operational and financial metrics to manage the performance improvement process going forward.

  • AEG Appointed Responsible Party for Investment Company Wind-down
    11/01/2015

    AEG Partners was appointed to serve as the Responsible Party in the Sapphire Industrials Corporation wind-down.  Under terms of the appointment, AEG’s role is to assist the Company in meeting its obligations under the wind-down agreements, as well as to administer the disbursement of remaining funds among approved claimants.

  • Consumer Package Goods Company Retains AEG Partners as Financial Advisor
    10/20/2015

    A $200 million East Coast based consumer packaged goods company recently retained AEG Partners as advisor as it faced severe liquidity issues due to significant structural changes in its core markets. AEG’s role is to assist in managing the company’s trade position, implement expense reduction initiatives and identify strategic options. Craig Dean and Jon Morrison are leading the engagement on behalf of AEG.

  • AEG Partners Appointed Plan Administrator to Facilitate Liquidation of Paper Company’s Estate
    08/01/2015

    AEG Partners was recently appointed Plan Administrator in the bankruptcy case of BIPCO, formerly known as Bear Island Paper Company LLC.  The appointment comes in conjunction with the approval of BIPCO’s First Amended Plan of Liquidation earlier in July of 2015.  AEG will be responsible for retaining, preserving and liquidating the remaining assets of the estate.  AEG will also administer the disbursement of funds in compliance with the approved Plan.

  • AEG Advises Midwest-based Manufacturer
    06/02/2015

    A Midwest-based manufacturer of gifts and novelty products recently retained AEG Partners to advise the company as it faces certain market volatility. AEG will be developing tools to assist the company in managing liquidity and establishing operational metrics, as well as assisting with lender negotiations. Craig Dean and Jon Morrison are leading the engagement on behalf of AEG.

  • AEG Mourns the Loss of Lawrence Adelman
    05/15/2015

    It is with deep sadness that we announce that Lawrence Adelman, a founding partner and principal at AEG, passed away on May 12 after a valiant fight against MDS.

  • AEG Appointed Receiver to Special Purpose Acquisition Corp (SPAC)
    03/16/2015

    The Delaware courts recently appointed AEG as the receiver to dissolve a now dormant SPAC, which had raised $800 million in public money. The SPAC was closed in 2010 after not finding a suitable acquisition target within the timeframe of its charter, and the original investment was returned to its shareholders. As receiver for the non-bankruptcy estate, AEG will manage the remaining assets of the SPAC and effect distributions to shareholders.

  • AEG Capital – Bringing Wall Street to Main Street
    02/11/2015

    We find money when it's hard to find.

    AEG Capital provides clients access to a wide array of sophisticated lenders, investors, and partners — all with an appetite for complex transactions and uncommon opportunities. We understand their approaches to risk and return, and what gets their attention.

    We know how to position a story and who to tell it to. Our team specializes in crafting customized solutions combining equity, mezzanine and senior debt to enable our clients to take advantage of opportunity.

    If you are wondering who will understand your story, let's talk.

    Growth Capital | Acquisition Financing | Turnarounds & Repositionings | Hybrid & Blended Structures

  • AEG Hired to Revitalize Underperforming Retail Supplier
    02/02/2015

    A West Coast-based home products company engaged AEG Partners as interim leadership to stabilize and strengthen performance. AEG will be addressing all aspects of the company's activities, including sourcing, logistics and financial management to resolve underperformance and reinvigorate the business model. Craig Dean is leading the engagement as Interim CEO.

  • AEG Celebrates 15 Years and Introduces AEG Capital
    01/14/2015

    We are marking the milestone by expanding the AEG umbrella, through AEG Capital, an independent private investment bank. Capital raising has become increasingly important to our clients, and AEG Capital is a strong complement to the firm's advisory and restructuring activities.

  • AEG Partners Retained as Advisor to Consumer Products Company
    12/01/2014

    AEG has been retained to advise a private equity owned manufacturer of consumer goods. AEG's role is to assist the company with performance challenges related to supply chain and inventory management issues. Craig Dean is leading the engagement on behalf of AEG.

  • AEG Partners Retained as Advisor to Apparel Company
    10/25/2014

    AEG has been retained to advise the board of directors of an East Coast-based apparel company on the purchase of certain brands and assets from a distressed seller. AEG's role is to advise the board regarding the risks and structure issues associated with such a purchase. Larry Adelman is leading the engagement on behalf of AEG.

  • AEG Partners Retained as CEO and Interim CFO
    09/24/2014

    AEG Partners has been retained as Chief Restructuring Officer and Interim Chief Financial Officer of a Southwest-based supplier of parts and services to the natural gas industry. Phil Van Winkle, a Managing Director of AEG, is leading the engagement as CRO. Jon Morrison, also a Managing Director, is Interim CFO. AEG will lead the company through a comprehensive financial, operational and strategic transition.

  • AEG Partners Retained as Advisor to International Manufacturer
    07/30/2014

    AEG has been retained to advise a manufacturer of safety products with operations in the U.S., Europe, and other offshore locations on restructuring options. AEG's role is to assist the company in identifying strategic options, manage lender negotiations, and assist with vendor management. Craig Dean is leading the engagement on behalf of AEG.

  • AEG Appointed as Responsible Person for the Estate of Mercantile Bancorp, Inc.
    06/26/2014

    AEG Partners has been appointed as the “Responsible Person” for the estate of Mercantile Bancorp, Inc. Mercantile previously held interest in six banks located in the Midwest and Southeast. AEG’s role is to administer the remaining assets and claims of the estate in accordance with the approved Plan of Liquidation. Jon Morrison is leading the engagement on behalf of AEG Partners.

  • AEG Retained as Interim COO for Manufacturer
    04/01/2014

    AEG Partners was recently retained as interim chief operating officer for a $300 million manufacturer located in the southeastern U.S.  AEG is leading the turnaround of operating activities including substantial cost rationalizations, the exit from multiple company facilities, and the consolidation of the product line. Larry Adelman is leading the engagement on behalf of AEG.

  • AEG Retained to Wind-down Financial Services Company
    03/01/2014

    AEG Partners was recently retained to assist in the organized wind-down of a private-equity owned financial services business located in the eastern U.S. AEG is managing the process and closure of all operations on an out-of-court basis. Craig Dean is leading the engagement on behalf of AEG.

  • January 2014 Newsletter - It's Happening Again....
    01/15/2014

    In this issue, AEG's Phil Van Winkle and Jon Morrison take a deep dive into corporate default rates to try to predict what comes next.   While much of the data suggests default rates should be moving up, excess liquidity and more lenient deal terms suggest we shouldn't be expecting any dramaticchanges soon.

  • Default Cycle Kept at Bay ... for Now
    01/14/2014

    By: Phil Van Winkle and Jon Morrison

    We talk with capital providers, attorneys, investment bankers, private equity and other market participants every day and everyone sees it. Just like we all saw it in 2006/07 and in 1997/98. Capital becomes readily available due to monetary policy or other market forces and it must be put to work. No matter how much they may know better, investors of this capital need to do deals. In the competition to do deals – leverage rises, pricing falls, structures deteriorate and marginal borrowers receive financing. Guess what? It’s happening again.

  • Phil Van Winkle of AEG Partners Retained as Trustee for Trainor Glass Liquidating Trust
    01/09/2014

    Phil Van Winkle, Managing Director of AEG Partners, has been retained as the Liquidating Trustee of the Trainor Liquidating Trust. Trainor Glass Company filed a voluntary petition under Chapter 11 on March 11, 2012 and a Joint Plan of Liquidation was confirmed by the Bankruptcy Court on December 30, 2013.

  • AEG Retained as Financial and Strategic Advisor to Public International Manufacturer
    08/05/2013

    AEG Partners recently completed the reorganization of a Chicago-based public company operating in the US, Europe and the Middle East. On behalf of the Company's Board of Directors, AEG's team of financial, operational and strategic experts developed a comprehensive working plan addressing board governance, management structure, business unit reporting/accountability, plant layout, and liquidity/working capital management. Larry Adelman led the engagement on behalf of AEG.

  • AEG Expands Restructuring Practice with the Addition of Phillip Van Winkle and Jonathan Morrison as Managing Directors
    07/31/2013

    AEG Partners, a leading restructuring, advisory and turnaround management firm, announced the expansion of its restructuring practice with the recent additions of Phillip Van Winkle and Jonathan Morrison as Managing Directors.  Both will be based in Chicago and will focus on leading client engagements as well as business development activities.

  • AEG Retained as Financial Advisor in Pennfield Corporation Chapter 11
    04/30/2013

    AEG Partners was retained by Pennfield Corporation as finanacial advisor to assist in preparing for Chapter 11 as well as to manage liquidity and operations through the process. AEG also assisted in the Section 363 sale process to Cargill in conjunction with Lakeshore Food Advisors. Pennfield was a well-established, multi-plant animal feed producer based in Lancaster, Pennsylvania. Craig Dean and Vik Dua led the engagement on behalf of AEG.

  • AEG announces the addition of Barry Best to help lead the formation of AEG Capital
    04/20/2013

    AEG announces the addition of Barry Best, Managing Director, who is leading the formation of AEG Capital LLC. Barry recently joined the firm from Sagent Advisors, a New York-based, boutique investment bank, where he founded and led the private capital markets group.

  • Seismic Shift in Energy Production Puts Coal-fired Plants At Risk
    04/15/2013

    There has been an epic shift in energy production, a shift so drastic that it could knock coal from its perch as the king of electric energy while catalyzing a move towards energy independence in one fell swoop. Natural gas is making a move, a strong move toward becoming the electric energy source of choice. This move is being catalyzed by a confluence of factors, including include a rash of recent domestic natural gas discoveries, slowed domestic energy demand growth and increased EPA regulations.

View All