Aftermarket Automotive Case Study
AFTERMARKET AUTOMOTIVE – Losses/Computer Failure
SITUATION: Losses – Computer Failure
- Growing, family-owned business, $10.6 M in revenue
- Undercapitalized
- Crisis management mode due to series of incidents in one calendar year
- Clients seeking more assistance, collaboration
NEED: Strategic Partner/Investor
- Working capital, a new lender
- Corporate team building
- Enhanced marketing and sales capability
PROVIDED: Helped maintain operational integrity during period of limited cash flow
- Bankruptcy attorney to develop backup program
- Investment partner
- Increased operational efficiencies
- Developed an enhanced team environment Incentivized sales through new processes and systems
Value: Company Remained In Busines
- Stayed with existing bank
- IT brought back on-line
- Owner has increased equity position and is more active in operations
- Positioned major vendor to add subordinated debt in Company and seek out other acquisitions
Potential Savings: Saved Company and owner $2.0 M in additional loans
- Reputation with customers
- Management team
- Relationship with bank and with major vendors
- Profit sharing plan
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