· Restructuring Advisor to a large contractor and subcontractor whose services include earthmoving, underground utility and heavy highway construction. Also facing a steep market decline in both the private and public market sectors, the Company was able to develop a new business plan and restructure its secured and unsecured debt.
· Chief Executive Officer of a fuel distributor and equipment maintenance provider to the railroad and utility industries. While CEO, Mr. Smith replaced key members of the management team and board of directors, developed a new business plan and positioned the Company for a successful sale.
· Turnaround Advisor to a steel and building products supplier targeting the residential and commercial construction market. After a thorough operational assessment, a Plan of Reorganization was developed and executed upon with Alliance's assistance. The Company was able to return to profitability and positive cash flow within 12 months.
· Turnaround Advisor to a manufacturer of commercial lawn mowers. After a detailed assessment of operations, a Plan of Reorganization was implemented that, in addition to rightsizing the operations, included a new sales and marketing strategy which restructured the distribution network and focused on partnering with dealers on targeted, market-specific advertising and promotion initiatives.
· Turnaround Advisor to a manufacturer of woodworking machinery. After a detailed operational assessment, a Plan of Reorganization, which included restructuring activities in all key areas of the company, was completed and successfully executed. As a result, the Company was able to return to profitability and positive cash flow. For its work with this company, Alliance Management received the Turnaround of the Year Award from the Turnaround Management Association.
· Operational Advisor to a cooperatively owned corn processor. The Company was able to manage through severe liquidity issues and completed a successful sale and recapitalization, which provided greater liquidity and operational stability.
· Operational Advisor to a family-owned distributor and processor of food and animal grade ingredients. Mr. Smith provided an assessment of an unprofitable business unit and provided recommendations for its reorganization and restructuring. The Company was able to implement many of the recommendations and reduce its cash burn.
· Operational Advisor to a private equity sponsor's portfolio of companies in the plastics industry. Due to resin price increases and general macroeconomic issues, the sponsor's investments in plastic injection molding and rotational molding were severely impacted. Mr. Smith performed a business assessment of the two companies and provided recommendations with respect to restructuring opportunities and overall strategic options.
Highlights of Mr. Smith's financial advisory and investment banking representations include:
· Investment Banker and Financial Advisor to a manufacturer of ready-to-eat foods and ingredients. Through diligent cash management and an expedited sale process, a successful transaction was consummated out of court. Mr. Smith served as co-lead investment banker.
· (Court Approved) Investment Banker and Restructuring Advisor to Professional Veterinary Products, Ltd., a $330 million wholesaler of animal health care products. Through an aggressive sale effort, a §363 auction sale was successfully completed under the United States Bankruptcy Court for the District of Nebraska. Mr. Smith served as co-lead investment banker.
· (Court Approved) Investment Banker and Financial Advisor to Bachrach Clothing, Inc., an equity-sponsored, U.S. based retailer of men's clothing. Mr. Smith assisted the Company through a successful Chapter 11 Bankruptcy Filing in the Northern District of Illinois. The Company was sold through a §363 sale process. The Company was able to continue to operate in multiple locations throughout the United States. Mr. Smith served as co-lead investment banker.
· Investment Banker and Financial Advisor to an equity sponsored, plastics manufacturer. An article 9 asset sale was completed on an expedited basis, avoiding the administrative costs of bankruptcy and providing maximum recovery for the stakeholders. Mr. Smith served as co-lead investment banker.
· Financial Advisor to a retail asset-based lending syndicate, with a $55 million credit facility to a distressed multi-store merchandising operation located in the Midwest U.S. The Company was successfully sold and the lending syndicate was repaid in full.
· Financial Advisor to a community bank that had been issued a Cease and Desist Order from the OCC. Advisory services included loan workout, bank practices and procedures review, responses to a correction action letter and development of a capital restoration plan, to assist in financial and operational due diligence and a successful refinancing of a new $30 million senior credit facility amidst tight deadlines.
· Financial Advisor and Trustee to a Liquidating Trust created as part of a Plan of Reorganization in the bankruptcy of a building products supplier. Certain assets were conveyed to the Trust and liquidated for the benefit of the senior secured lender.
· Financial Advisor to a California based jewelry store chain. Following a business assessment and complete financial review, the Company was able to obtain a waiver of default and revised loan covenants from its senior lender.
· Financial Advisor to a financial services company specializing in payment solutions. With large exposures in its network of agents around the country, the company engaged Mr. Smith to assess the agents' operations and provide recommendations with respect to debt repayment and restructuring.
Prior to joining Alliance Management, Mr. Smith served as Director of Global Market Development for the Global Healthcare Exchange (GHX), the leading healthcare supply chain consortium. GHX was founded by Johnson & Johnson, GE, Baxter, Abbott, and Medtronic. While at GHX, Mr. Smith was on the team which led international market expansion efforts into Canada, Europe, and Asia/Pacific, including market readiness assessments, business planning, and development of local go-to-market strategies.
Mr. Smith began his career and worked for several years at Baxter International, including the spun-off units of Edwards Lifesciences and Allegiance Healthcare. At Baxter, Mr. Smith served primarily in a financial and business planning capacity in several areas of the company, including the manufacturing and distribution side of the business as well as the commercial side, at the local, regional and global levels.
During his career, Mr. Smith has also performed interim CFO duties for start-up technology companies and step-out/break-out business ventures in large corporations. While assisting these companies in their efforts to raise funds (series A and B), Mr. Smith also helped to establish and develop board and management structures, new business plans, and key credit relationships.
Mr. Smith is a former board member of the Colorado Chapter of the Turnaround Management Association. He holds a Bachelor of Science degree in International Business and a minor in Spanish from Trinity University in San Antonio, Texas and an M.B.A., with Honors, from the University of Chicago Booth School of Business.
Mr. Smith's speaking engagements include panel participation on topics such as:
· Maximizing Value in a Retail Bankruptcy
Contact Alex Smith