Renewable Energy Facility

November 16, 2016 Aaron Reeves

Renewable Energy Facility

Situation faced:

TAIGA was introduced to a loss-making Renewable Energy Facility operating with a wider Group. It was a highly complex situation with multiple stakeholders and funders. Funding requirements had developed for multiple reasons across the Group.

Outcome achieved:

TAIGA Led a de-merger of the facility from the Group at a substantial discount to cost. As part of the de-merger the business established a new trading relationship with previous owners and secured a substantial investment from new investors.

In addition, the business secured a multi-million R&D tax reclaim. Post de-merger Jeff Holder operated as interim CEO to allow investors to consider if existing the facility could become profitable. Ultimately it was concluded that this was not possible and TAIGA led a subsequent mothball process and sale to developers. Bank recovery was significant against original position on entry.

Duration: 15 Months

End: 2016

General construction business

September 1, 2016 Aaron Reeves

General construction business

Situation faced:

TAIGA was introduced to a business facing significant contract losses in addition to a dispute with a large customer. The business was in a critical cash position.

Outcome achieved:

TAIGA worked with the incumbent management team and quickly introduced cash management support to manage the short-term business need. A robust business plan was co-created with the management team and advice provided to manage a challenging situation for Directors.

Duration: 2 Months

End: 2016

Plastics Re processor

January 13, 2016 Aaron Reeves

Plastics Re processor

Situation faced:

The business was over-leveraged and suffered with a dysfunctional management team. The resulting cash call meant a funding requirement for the Private Equity owners.

Outcome achieved:

TAIGA reviewed business for the Private Equity owners. A jointly developed plan was implemented and supported through to a solvent sale to new owners. 100% recovery for bank and return for Private Equity owners.