A global consulting firm in energy sectors
In response to the financial distress, FRP was appointed to conduct an independent valuation of the business. This valuation assessed the company on both a going concern basis and an accelerated sale basis to determine whether its value had fallen below its outstanding debt obligations. This analysis was crucial in establishing whether share pledge enforcement would be a commercially fair and reasonable course of action. Additionally, FRP provided a valuation of each geographic division, offering a detailed financial perspective. The final valuation report was addressed to the security agent, who relied upon it in executing the enforcement process. Independent valuation and enforcement proceedings
Following the successful enforcement of share capital, lenders took control of the business, allowing them to install new board members and initiate a restructuring strategy. The focus was on reducing liabilities, improving financial oversight, and stabilising operations to create a stronger foundation for future growth. With these improvements in place, the company was positioned for long-term success, ensuring better financial governance and operational efficiency within the utilities and renewable energy sectors. Restructuring, leadership and long-term stability
Project Enterprise is an international consulting firm specialising in utilities and renewable energy, with operations across four continents. The business had senior loan note facilities of approximately £100 million, split between a UK clearing bank and a leading asset management firm. However, financial difficulties - caused by onerous contracts, cash collection challenges, and weaknesses in forecasting and financial control-led to loan defaults. Despite refinancing efforts, the company failed to secure a viable solution, prompting senior secured lenders to explore enforcement options.
frpadvisory.com
18
Made with FlippingBook - professional solution for displaying marketing and sales documents online