Engineering Group
Situation faced:
TAIGA was introduces to a distressed PLC that had failed to take action to address some fundamental operational, financial and performance issues leading to significant losses and cash pressure.
Outcome achieved:
The cash pressures could not be alleviated through a ‘trade out’ approach so working in collaboration with Advisers, Directors and Funders the team supported an accelerated M&A process where 3 of the 4 trading subsidiaries were successfully sold - 2 to Private Equity and 1 to another PLC. The final subsidiary where losses were greatest was wound down.
Duration: 3 Months
End: 2019