Chiron provides a range of services including, but not limited to the following valuation and advisory services for middle-market companies across all industry sectors:
Chiron provides strategic and actionable advice on all aspects of the recapitalization and restructuring process. Utilizing our deep relationships with traditional and alternative institutional investors, we efficiently raise or negotiate the placement of new capital at all levels of a company’s capital structure. From senior secured debt to PIPEs and everything in between, we analyze and craft the appropriate capital structure for a company and place the securities through privately marketed and negotiated transactions. Our approach to restructurings incorporates bankruptcy and restructuring process expertise, detailed analysis of business operations and financial projections, in-depth strategic advice and a solid understanding of capital markets pricing and trading dynamics.
Barnett Marine was a barge leasing, offshore construction and repair company based in New Orleans, Louisiana. The Company filed Chapter 11 with over $50 million in assets. Chiron was retained by the Official Committee of Unsecured Creditors to evaluate the Company's operations and financial condition and to evaluate and develop competing alternatives to the Company's proposed plan of reorganization. Chiron was instrumental in achieving a competing plan that provided a 100% recovery to the Unsecured Class of Creditors.
Century Care of America owned five skilled nursing and long term health facilities throughout the State of Texas. Chiron was retained by the Official Committee of Unsecured Creditors to evaluate the Company's operations and financial condition and to evaluate and develop competing alternatives to the Company's proposed plan of reorganization. The Unsecured Creditors achieved a significant recovery by developing a competing plan of reorganization.
Clinical Labs USA, Inc. (CLUSA)
Clinical Labs USA, Inc. (CLUSA) was the leading provider of Clinical Diagnostic Services to the nursing home industry. CLUSA was formed through the simultaneous acquisition of the three leading providers of Clinical Diagnostics to the nursing home industry. This was known as a “Roll-up”. Chiron was engaged by the Board of the CLUSA Holding Company to provide financial alternatives which included a Chapter 11 filing for one of the subsidiary companies.
Cygnus Oil and Gas is an energy exploration company with significant assets in unconventional asset opportunities. These assets include Fayetteville and Caney/Woodford Shale plays. Chiron was engaged to provide restructuring and to raise additional capital for the company.
Del Pueblo Foods is a Port Arthur, TX-based food processing company that specializes in hand-stuffing olives with jalapenos, blue cheese, garlic, onions, and other foodstuffs. Chiron was hired by Del Pueblo Holdings, LLC as the exclusive financial advisor to pursue a sale of the company in Chapter 11.
Chiron structured a DIP facility for Del Pueblo Holdings and subsequently sold the assets of the company.
Evans Industries, Inc. had filed for protection under Chapter 11of the U.S. Bankruptcy. The company refused to engage an investment bank to work on our behalf of the Debtor to seek alternatives to provide the most value to the estate. Chiron, who had been providing financial advisory to the Official Committee, was engaged on a Sell-Side Success Fee basis.
Katz's Deli and Bar is an established made to order Deli Restaurant located in Austin and Houston, Texas. Chiron was hired as a financial advisor to the son's Houston operation. Chiron advised the son on a successful competing plan of reorganization which ultimately led to the real estate being sold.
Mexmal started in Laredo, Texas in 1990 to capitalize on the growing demand for computer products in Mexico. Mexmal was soon distributing its own brand “Alaska” as well as Dell, Microsoft, and Gateway products. Chiron was engaged to seek alternatives which ultimately included a Section363 Sale under the provisions of Chapter 11.
Panaco, Inc. was an independent exploration and production company with operations focused primarily offshore in the Gulf of Mexico and onshore in the Gulf Coast Region. Chiron was engaged to provide financial advisory and valuation services relative to the competing plan of reorganization.
Renata Resort, LLC is a Florida-based company established to erect a 23-story high-rise condominium on the beach of Panama City Beach. Chiron was hired as the exclusive financial advisor to assist the Company with its options. Chiron was successful in arranging a Debtor-in-Possession facility that allowed Chiron sufficient time to conduct an auction in order to sell the Company.
Safescript Pharmacies, Inc. targets an underserved patient population utilizing a technology driven bundled prescription solution to aggregate select physician specialists and their prescribing requirements at the point-of-care. Chiron had been engaged by Safescripts to advise in a sale of substantially all of its assets under Section 363.
TransTexas Gas Corporation is a Houston-based exploration and production company which entered into Chapter 11 bankruptcy proceedings for the fourth time in November, 2002. Chiron was charged by the Committee with reviewing proposed alternatives and working with other under secured parties. Chiron was successful in working with a competing plan of reorganization where the largest Unsecured Senior Note Holder, Carl Icahn, prevailed. The Unsecured Creditors were granted the option of receiving a cash payment or equity in this significantly recapitalized entity.
Victoria Machine Works (“VMW”)
Victoria Machine Works (“VMW”) was a seventy-year-old manufacturer of custom equipment for a variety of industrial end-users in the aerospace and defense, medical and oil and gas industries. Chiron was retained by the Company to advise it regarding its financial and strategic alternatives, including advisory work through Chapter 11 proceedings. After commencement of bankruptcy proceedings, Chiron worked with the creditors to develop a plan to market and sell VMW's assets.
Chiron understands how to handle loan acquisitions. Chiron works with private investors, hedge funds, private equity firms, and real estate investment companies in the process of distressed debt acquisitions. Working with clients, we close transactions quickly through a proven due diligence process focused on the critical components of these transactions.
Houston Chemical Services, Inc.
Chemical Waste Services, LLC (“CWS”) was a company which was formed to acquire the assets of Houston Chemical Services, Inc., a company engaged in the storage of hazardous waste. Houston Chemical Services had assets exceeding $20 million. Chiron was retained to serve as the exclusive financial advisor to CWS. While the Company was not in compliance with the terms of the permits, over $20 million dollars had been expended in acquiring them. After the Company entered into Chapter 11 proceedings, Chiron was called upon to become involved in numerous issues. Chiron successfully negotiated a compliance offer and a clean transfer of the permits with the State of Texas. Chiron assisted the management team in raising capital to purchase the senior secured note and become the “stalking horse” bid to acquire the assets under a Section 363 Sale.
Marshall Ranch was a golf course anchored master planned community located on the north side of Lake Travis. Chiron was engaged by an investor group to assist it in acquiring the senior secured indebtedness of all partnerships in bankruptcy, advise it through the bankruptcy process and propose a plan of reorganization. Chiron's client was subsequently out-bid in the auction process.
MXenergy supplies natural gas and electricity to residential and commercial customers in deregulated energy markets. Since 1999, MXenergy has grown to serve over 500,000 customers in 30 utility territories throughout the United States and Canada. MXenergy engaged Chiron to execute a strategy of purchasing distressed debt in a smaller competitor that was in a Chapter 11 proceeding. MXenergy desired to merge the distressed company into MX's Chicago operations. MXenergy was successful in acquiring the distressed debt, but was subsequently outbid for the Company in the Chapter 11 reorganization.
Panaco, Inc. was an independent exploration and production company with operations focused primarily offshore in the Gulf of Mexico and onshore in the Gulf Coast Region. Chiron was engaged to provide financial advisory and valuation services on behalf of the Senior Unsecured Bondholders who were purchasing the distressed debt of the Company.
SOLA Communications, LLC was a Louisiana-based company that provided telecommunications, safety and control systems, engineering, contracting, and network management services both domestically and internationally. The Company serves oil and gas drilling and production companies, utilities, and government entities. The Company had sought protection under Chapter 11 of the US Bankruptcy Code. Chiron was retained by a distressed debt buyer to assist them with the purchase of the Company. Chiron was successful in helping them execute a letter of intent to purchase the senior secured term loan.
Southern Structures, Inc. designs, manufactures and produces custom, innovative building systems utilizing mass production techniques for a variety of industrial end-users. The Company was forced to seek reorganization under Chapter 11. Chiron was engaged by a financial buyer to purchase the distressed debt. The debt was subsequently purchased and debtor-in-possession funding was made available to the Company as part of the reorganization plan. Chiron's client was subsequently out bid in an auction process.
Chiron has extensive experience in providing a full range of services focused on maximizing recovery for stakeholder committees. We assist the Committee and its legal counsel in managing all aspects of a restructuring or 363 sale. In addition, we provide forensic accounting and litigation support tied to assessing preferences, fraudulent conveyances and other avoidance actions. The firm also utilizes its corporate finance expertise to assist the Committee by ensuring that value is maximized in the sale of assets and/or business units for the benefit of the stakeholders we represent.
Able Garage Door Manufacturing
Able Garage Door Manufacturing offered a complete line of residential and commercial sectional garage doors to the commercial construction industry. The Company had a significant shareholder dispute which led to a Chapter 11 filing. Chiron was engaged by the Official Committee of Unsecured Creditors.
All Star Gas Corporation (“All Star”)
All Star Gas Corporation (“All Star”) was a public company engaged primarily in the retail marketing of propane and propane-related appliances, supplies and equipment to residential, agricultural and commercial customers. Chiron was retained as the financial advisor to the Official Committee of Unsecured Creditors, and was instrumental in assisting the Company to reestablish vendor credit arrangements, negotiating more favorable terms for its debtor-in-possession financing agreement, and a substantial increase in recovery to the Unsecured Creditors.
Barnett Marine was a barge leasing, offshore construction and repair company based in New Orleans, Louisiana. The Company filed Chapter 11 with over $50 million in assets. Chiron was retained by the Official Committee of Unsecured Creditors to evaluate the Company's operations and financial condition and to evaluate and develop alternatives to the Company's proposed plan of reorganization.
Century Care of America owned five skilled nursing and long term health facilities throughout the State of Texas. The Company provided healthcare services primarily through third party administration of skilled nursing services under Medicare and long-term care services under Medicaid. Chiron was retained by the Official Committee of Unsecured Creditors to evaluate the Company's operations and financial condition and to evaluate and develop alternatives to the Company's proposed plan of reorganization.
Doctors' Hospital is a 229 bed hospital and 50,000 square foot medical office building located on the north side of Houston serving the indigent and working poor population. Chiron was engaged as the investment bank to the Official Unsecured Committee and was successful in facilitating a plan of reorganization.
Evans Industries, Inc. had filed for protection under Chapter 11of the U.S. Bankruptcy. The company refused to engage an investment bank to work on our behalf of the Debtor to seek alternatives to provide the most value to the estate. Chiron was engaged to provide financial advisory to the Official Committee. Chiron conducted a sell-side auction that resulted in the sale of the company to Greif Industrial & Packaging, LLC giving the estate a significant recovery.
Garden Ridge has grown into a leader in home-decorating accessories with 44 stores in 13 Midwest and southeast states. Citing above market lease rates and extremely burdensome lease agreements as the central reason for the Company's financial difficulty, Garden Ridge filed for Chapter 11 Reorganization in February, 2004. Chiron was engaged to perform financial advisory services on behalf of the Ad Hoc Committee of Landlords in their evaluation of the Company's restructuring alternatives.
Located in Houston, Texas, Panaco, Inc. was an independent exploration and production company with operations focused primarily offshore in the Gulf of Mexico and onshore in the Gulf Coast Region. Chiron was engaged to provide financial advisory and valuation services on behalf of the Senior Unsecured Bondholders in their evaluation of Restructuring Alternatives.
Switzer Petroleum Products, Inc.
Switzer Petroleum Products, Inc. owned and operated a chain of retail convenience stores and filling stations throughout the Dallas/Fort Worth Metroplex. Chiron was retained by the Official Committee of Unsecured Creditors to provide a range of financial advisory services.
Texas Commercial Energy (“TCE”)
Texas Commercial Energy (“TCE”) is a Retail Electric Provider (“REP”) serving commercial and industrial customers in Texas. TCE became the first REP in Texas newly deregulated marketplace to file for protection under Chapter 11 of the Bankruptcy Code. Chiron was engaged by the Official Committee of Unsecured Creditors.
TransTexas Gas Corporation is a Houston-based exploration and production company which entered into Chapter 11 bankruptcy proceedings. Chiron was engaged by the Committee and charged with reviewing proposed alternatives and working with other under secured parties. Chiron was successful in these efforts and the reorganization plan of the largest Unsecured Senior Note Holder, Carl Icahn, prevailed.
Relationships with leading financial institutions and institutional, private equity and venture capital investors enable the professionals at Chiron to structure competitive transactions for their clients, while meeting the needs of all stakeholders. Chiron can arrange both public and private debt and equity capital to accommodate a range of financing requirements, including, but not limited to: Acquisition Financing, Leveraged Buyouts, Growth Capital Financings, Revolver and Term Debt Refinancing,Leveraged Recapitalizations, DIP Financing, Management Buyouts, and Debt and Equity Private Placements.
Congress Materials is a Phoenix-based company that operates aggregate-mining assets in the greater Phoenix market. Chiron was hired to provide financial advisory services to Congress Materials in the acquisition of the aggregate facility. On behalf of Congress Materials, Chiron structured a DIP facility to U.S. American Stone and Minerals and subsequently has put a competing Plan of Reorganization on the table. Chiron is advising Congress Materials on both deal terms and structure.
Cygnus Oil and Gas is an energy exploration company with significant assets in unconventional asset opportunities. These assets include Fayetteville and Caney/Woodford Shale plays. Chiron was engaged to raise additional capital for the company.
Doctors' Hospital is a 229 bed hospital and 50,000 square foot medical office building located on the north side of Houston. The declining admissions coupled with reduced cash flow and a debt load approximating $40.0 million forced the company to seek reorganization in Chapter 11.Chiron was engaged as the investment bank to the Official Unsecured Committee for the purpose of raising capital to facilitate a plan of reorganization.
Galvez Energy Corporation was an energy exploration company with a unique and progressive business model based on the use of advanced information technology -specifically seismic data acquisition, imaging, and interpretation. Chiron was engaged for the purpose of providing financial advisory services relating to a capital raise.
Garden Ridge has grown into a leader in home-decorating accessories with 44 stores in 13 Midwest and southeast states. Garden Ridge filed for Chapter 11 Reorganization in February, 2004. Chiron was engaged to raise capital for an alternative plan of reorganization on behalf of the Ad Hoc Committee of Landlords.
KT Foods, LLC is a Houston-based specialty foods company that specializes in hand-stuffing olives with jalapenos, blue cheese, garlic, onions, and other foodstuffs. Chiron was retained by the Company to arrange a debt facility for the purpose of financing an acquisition. Chiron was successful in arranging a senior-secured credit facility with Capital One Bank. Chiron advised the buyer on both deal terms and structure and now manages the assets of the company.
Magnus Energy Marketing, Ltd. (“Magnus”) is a wholesale energy marketing and trading company serving natural gas producers, utilities, industrial users, and other energy wholesalers. Magnus had substantial revenue growth from inception with revenues exceeding $500.0 million. Chiron was engaged in a capital raise to increase the senior line of credit and provide alternatives for junior capital. The senior line was increased substantially and no junior facility was needed.
Renata Resort, LLC is a Florida-based company established to erect a 23-story high-rise condominium on the beach of Panama City Beach. The Company was facing financial distress and Chiron was hired. Chiron was successful in arranging a Debtor-in-Possession financing facility. The DIP financing saved the Company and allowed sufficient time to conduct an auction in order to sell the Company, maximizing value to the estate.
SOLA Communications, LLC is a Louisiana-based company that provides telecommunications, safety and control systems, engineering, contracting, and network management services both domestically and internationally. The Company had sought protection under Chapter 11 of the US Bankruptcy Code and Chiron was retained by a distressed debt acquisition group to assist them with the purchase of the Company. Chiron was successful in helping the group execute a letter of intent to purchase the senior secured term loan and raising the capital to close.
Corporation Spirit Minerals, LP is the sister company to Spirit Drilling Fluids, Ltd. Spirit Minerals mines, processes and distributes barite to the oil and gas drilling fluid industry. Chiron was engaged to provide a debt placement for equipment and infrastructure relating to the expansion of the mining operation.
Spirit Drilling Fluids, Ltd. is a drilling fluids and related well-site services to exploration and production (“E&P”) companies. Chiron was retained by the Company to advise it regarding its financial alternatives. Chiron was successful in arranging a senior credit facility with LaSalle bank.
Senior and Term "B" Debt Facility
Chiron was engaged to provide a $21.0 million senior and Term B acquisition facility. The debt facility is expected to close in mid-February, 2007.
TrueMRI was founded in 2002 and is a pioneer in multi-positional weight bearing MRI Service in California. TrueMRI had developed unique, proprietary software for interpreting and delivering radiological services. Chiron was engaged to provide financial advisory services relating to a private equity offering.
Chiron is experienced in providing merger and acquisition advisory services to corporations and individuals. The firm frequently represents clients who wish to sell control of a company, divest a division or subsidiary, acquire a company or various assets. Chiron provides senior level attention at every stage of the transaction across a variety of M&A assignments, including: Asset Sales, Fairness, Valuation, Corporate Divestitures, Management or Leveraged Buyouts, Buy-Side Advisory (Corporations, Equity Sponsor, Management Team), and Sell-Side Advisory (Corporations, Equity Sponsor, Restructuring).
Able Garage Door Manufacturing
Able Garage Door Manufacturing offered a complete line of residential and commercial sectional garage doors to the commercial construction industry. The Company had a significant shareholder dispute which led to a Chapter 11 filing. Chiron was engaged by the Official Committee of Unsecured Creditors to sell the Company. Unsecured Creditors received a significant recovery over the initial Debtor plan.
Chemical Waste Services, LLC (“CWS”) was a company which was formed to acquire the assets of Houston Chemical Services, Inc., a company engaged in the storage of hazardous waste. Houston Chemical Services had assets exceeding $20 million. Chiron was retained to serve as the exclusive financial advisor to CWS. Chiron was called upon to become involved in numerous issues. Chiron successfully negotiated a compliance offer and a clean transfer of the permits with the State of Texas. Chiron also assisted the management team in raising capital to structure a “stalking horse” bid proposal to acquire the assets of Houston Chemical Services under a Section 363 Sale.
Century Care of America owned five skilled nursing and long term health facilities throughout the State of Texas. The Company provided healthcare services primarily through third party administration of skilled nursing services under Medicare and long-term care services under Medicaid. Chiron was retained by the Official Committee of Unsecured Creditors to develop a competing alternative to the Company's proposed plan of reorganization. The Unsecured Creditors achieved a significant recovery over the initial plan of reorganization by selling the assets under the provisions of a competing plan of reorganization.
Congress Materials is a Phoenix-based company that operates aggregate-mining assets in the greater Phoenix market. Chiron was hired to provide financial advisory services to Congress Materials in the acquisition of the aggregate facility. On behalf of Congress Materials, Chiron structured a DIP facility to U.S. American Stone and Minerals and subsequently has put a competing Plan of Reorganization on the table. Chiron is advising Congress Materials on both deal terms and structure.
Del Pueblo Foods is a Port Arthur, TX-based food processing company that specializes in hand-stuffing olives with jalapenos, blue cheese, garlic, onions, and other foodstuffs. Chiron was hired by Del Pueblo Holdings, LLC as the exclusive financial advisor to pursue a sale of the company in Chapter 11. Chiron structured a DIP facility for Del Pueblo Holdings and subsequently sold the assets of the company.
Evans Industries, Inc. had filed for protection under Chapter 11of the U.S. Bankruptcy. The company refused to engage an investment bank to work on our behalf of the Debtor to seek sale alternatives. Chiron was engaged on a Sell-Side Success Fee basis to seek a value driven alternative for the Chapter 11 estate. Chiron conducted a sell-side auction that resulted in the sale of the company to Greif Industrial & Packaging, LLC giving the estate a significant recovery.
KT Energy Holdings, LLC is a Houston-based energy investment company that invests in upstream oil and gas assets. Chiron was hired to provide financial advisory services to KT Energy in the acquisition of oil and gas assets in Central Texas that included 38 wells covering 595 acres in Brown and Runnels Counties. Chiron advised the buyer on both deal terms and structure and now acts as the on-going manager of KT Energy Holdings, LLC portfolio companies.
Mexmal capitalized on the growing demand for computer products in Mexico. Mexmal distributed its own brand “Alaska” as well as Dell, Microsoft, and Gateway products and had grown to become the second largest computer distributor in Mexico. A marginal cash flow coupled with a massive debt structure led to a restructuring. Chiron was engaged to seek a Section 363 Sale under the provisions of Chapter 11.
Chiron has been involved in a number of mandates in connection with retail electric providers in the Ercot (Electric Reliability Council of Texas) System. Chiron as agent for the creditors of Texas Commercial Energy, (TCE) successfully restructured the retail electric book of TCE and sold these assets to MPower.
Panaco, Inc. was an independent exploration and production company with operations focused primarily offshore in the Gulf of Mexico and onshore in the Gulf Coast Region. Chiron was engaged to provide financial advisory on behalf of the Senior Unsecured Bondholders in their debt for equity swap and subsequent ownership of the company.
PetroChem Inspection Services is a Houston-based company that provides diversified inspection services to the petrochemical industry, gas and energy plants, and pipelines. Chiron was retained, in conjunction with SSG Capital Advisors, to assist with the sale of the Company. Chiron and SSG were successful in selling the Company to a European strategic acquirer.
The PeaBody Energy Corporation
The Peabody Energy Corporation (NYSE: BTU) and a Private Investor's coal reserves were located on the west flank of the Powder River Basin in Wyoming. Chiron had been engaged by these parties to advise them in a sale of their respective coal interests.
Renata Resort, LLC is a Florida-based company established to erect a 23-story high-rise condominium on the beach of Panama City Beach. The Company was facing financial distress and Chiron was hired as the financial advisor to assist the Company with its options. Chiron was successful in conducting an auction to sell the real estate assets of the company maximizing the value to the estate.
Safescript Pharmacies, Inc. targets an underserved patient population utilizing a technology driven bundled prescription solution to aggregate select physician specialists and their prescribing requirements at the point-of-care. Chiron had been engaged by Safescripts to advise in a sale of substantially all of its assets under Section 363.
Current engagement: Chiron has been retained as the exclusive advisor in its acquisition on Dynamic Fluids, a Colorado based drilling fluids company. Chiron has provided several valuation alternatives and proposed structures for a stock purchase agreement.
Spirit Drilling Fluids, Ltd. is a Houston-based company that provides drilling fluids and related well-site services to exploration and production (“E&P”) companies in the Texas/Louisiana Gulf Coast region. The company's founders are industry veterans with strong relationships throughout the E&P industry and the Company is majority owned by a private E&P company. Chiron was retained by the Company as the exclusive financial advisor in its acquisition of E-Fluids, which was completed in September 2006.
Spirit Drilling Fluids, Ltd. is a Houston-based company that provides drilling fluids and related well-site services to exploration and production (“E&P”) companies in the Texas/Louisiana Gulf Coast region. The company's founders are industry veterans with strong relationships throughout the E&P industry and the Company is majority owned by a private E&P company. Chiron was retained by the Company as the exclusive financial advisor in its acquisition of Spectrum Fluid Services, which enabled the Company to expand its scope of services to include completion fluids.
Victoria Machine Works (“VMW”) was a seventy-year-old manufacturer of custom equipment for a variety of industrial end-users in the aerospace and defense, medical and oil and gas industries. Chiron was retained by the Company to advise it in the sale of the Company's assets.
Chiron's professionals have been qualified as valuation experts in courts throughout the United States, providing testimony and support in a range of financial matters. With experience ranging from probate matters to exclusive representation of the special committee of the board of directors, Chiron has the breadth of experience to provide advisory services for various transactions, including, but not limited to: Acquisition and Sale Transactions (Fairness Opinions), Fraudulent Conveyance and Solvency Opinions, Corporate Divestitures and Spin-Offs, Management Buyouts, Employee Stock Ownership Plans (ESOPs), Leveraged Buyouts, Expert Testimony, Company Valuations, and Security Valuation (Options / Warrants).
Able Garage Door Manufacturing
Able Garage Door Manufacturing offered a complete line of residential and commercial sectional garage doors to the commercial construction industry. Chiron was engaged by the Official Committee of Unsecured Creditors to provide a range of financial advisory services, including expert testimony on DIP financing and valuation.
Kvaerner Songer, Inc. and its wholly-owned subsidiaries serve as the union construction arm of Kvaerner Holding, Inc. where they provide a full range of construction, maintenance and renovation services to the North American Industrial sector. Chiron was engaged by Kvaerner Holdings to perform financial advisory and valuation services in connection with the restructuring alternatives.
All Star Gas Corporation (“All Star”) was a public company engaged primarily in the retail marketing of propane and propane-related appliances, supplies and equipment to residential, agricultural and commercial customers. Chiron was retained as the financial advisor to the Official Committee of Unsecured Creditors, and provided expert testimony relating to DIP financing and valuation. Chiron was successful in negotiating more favorable terms for its debtor-in-possession financing agreement, and a substantial increase in recovery to the Unsecured Creditors.
Authentix is a Dallas-based company that offers a complete portfolio of anti-counterfeiting, adulteration prevention, and supply chain control solutions. Authentix distinguishes itself with proprietary technologies and methods, and a complete, customized solution for clients to stop current counterfeiters and prevent future abuses. Chiron was retained by the Company to perform a valuation analysis and assist the Company with its strategic options.
Barnett Marine was a barge leasing, offshore construction and repair company based in New Orleans, Louisiana. The Company filed Chapter 11 with over $50 million in assets. Chiron was retained by the Official Committee of Unsecured Creditors to evaluate the Company's operations and financial condition and to evaluate and develop alternatives to the Company's proposed plan of reorganization. Chiron was charged with numerous appearances as an expert witness and was instrumental in achieving a 100% recovery to the Unsecured Class of Creditors.
CapRock is a privately held company that delivers satellite-based communications to businesses operating in the world's harshest and most remote locations. Chiron was engaged to provide valuation services specifically pertaining to the outstanding warrants of the company.
Century Care of America owned five skilled nursing and long term health facilities throughout the State of Texas. Chiron was retained by the Official Committee of Unsecured Creditors to evaluate the Company's operations and financial condition and to evaluate and develop alternatives to the Company's proposed plan of reorganization. The financial advisory assignment included expert testimony and valuation of the Company assets.
Chiron has on several occasions been engaged by Chevron in connection with restructuring of relationships with fuel distributors and retailers. The recent Chiron mandates for Chevron have included restructuring and expert testimony. Chiron was engaged relative to business plan feasibility of two Chevron fuel distributors and also as to structure a market interest rate on the senior secured note held by Chevron.
Clinical Labs USA, Inc. (CLUSA) was the leading provider of Clinical Diagnostic Services to the nursing home industry. CLUSA was formed through the simultaneous acquisition of the three leading providers of Clinical Diagnostics to the nursing home industry. This was known as a “Roll-up”. Chiron was engaged by the Board of the CLUSA Holding Company to provide financial alternatives including valuation.
Compass Bank was a construction lender to a Houston-based homebuilder. The homebuilder was involved in major litigation which ultimately resulted in a judgment against the homebuilder. There were many homes and land developments under construction. The home builder sought protection under Chapter 11 to reorganize its business. Compass Bank was the legacy lender and was willing to provide Debtor-in-Possession financing to complete the projects. The judgment creditor had objected to such financing. Chiron was hired by the lender to provide expert testimony relative to valuation of assets and allowing a DIP loan to be made. Subsequently, the projects were completed and sold, and more value realized by the estate.
Evans Industries, Inc. had filed for protection under Chapter 11 of the U.S. Bankruptcy. Chiron was engaged to provide financial advisory to the Official Committee of Creditors which included valuation, preference actions, D & O liabilities, expert testimony on bidding procedures and plan confirmation.
Garden Ridge has grown into a leader in home-decorating accessories with 44 stores in 13 Midwest and southeast states. Garden Ridge filed for Chapter 11 Reorganization in February, 2004. Chiron was engaged to perform financial advisory services on behalf of the Ad Hoc Committee of Landlords in their evaluation of the Company's restructuring alternatives. This included several expert testimony appearances and valuation of the Company.
Katz's Deli and Bar is an established made to order Deli Restaurant located in Austin and Houston, Texas. The Austin Restaurant first opened in 1979 and the Houston location followed in 2000. The Katz's Deli entity was a father and son “Partnership”. The relationship was severed with the son receiving a significant note and the Houston location. The father's company soon filed for Chapter 11 protection. Chiron was hired as a financial advisor to the son's Houston operation. Chiron advised the son on valuation and a successful reorganization plan ultimately led to the real estate being sold and the son being paid.
Mexmal was a company that capitalized on the growing demand for computer products in Mexico. Chiron was engaged to seek alternatives which ultimately included a Section 363 Sale under the provisions of Chapter 11. There were substantial amounts of valuation analysis performed prior to the Ch 11 filing as there was a possibility of selling the assets outside of a bankruptcy.
Panaco, Inc. was an independent exploration and production company with operations focused primarily offshore in the Gulf of Mexico and onshore in the Gulf Coast Region. Chiron was engaged to provide financial advisory and valuation services on behalf of the Senior Unsecured Bondholders in a competing plan of reorganization.
Renata Resort, LLC is a Florida-based company established to erect a 23-story high-rise condominium on the beach of Panama City Beach. The Company was facing financial distress and Chiron was hired. Chiron was successful in arranging a Debtor-in-Possession financing facility and certain creditors objected to the financing. Chiron provided the expert testimony which enabled the Company to obtain the DIP financing. The DIP financing saved the Company and allowed sufficient time to conduct an auction in order to sell the Company, maximizing value to the estate.
Current engagement: Chiron has been retained as the exclusive advisor in its acquisition on Dynamic Fluids, a Colorado based drilling fluids company. Chiron has provided several valuation alternatives and proposed structures for a stock purchase agreement.
T-Bar X was a partnership involved in the exploration and production of oil and gas in an east Texas Leasehold. Chiron was engaged to provide valuation services and to provide strategic alternatives including the timing of a sale.
Texas Commercial Energy (“TCE”) is a Retail Electric Provider (“REP”) serving commercial and industrial customers in Texas. TCE became the first REP in Texas newly deregulated marketplace to file for protection under Chapter 11. Chiron was engaged by the Official Committee of Unsecured Creditors to value the retail electric book of TCE, and provide expert testimony relative to a plan of reorganization.
TransTexas Gas Corporation is a Houston-based exploration and production company which entered into Chapter 11 bankruptcy proceedings for the fourth time in November, 2002. At that time, TransTexas had senior secured notes in excess of $220 million. Chiron was charged by the Committee with reviewing proposed alternatives and working with other under secured parties. Chiron provided expert valuation opinion in connection with the reorganization of the Company.
Victoria Machine Works (“VMW”) was a seventy-year-old manufacturer of custom equipment for a variety of industrial end-users in the aerospace and defense, medical and oil and gas industries. Chiron was retained by the Company to advise it regarding its financial and strategic alternatives, including advisory work through Chapter 11 proceedings. After commencement of bankruptcy proceedings, Chiron worked with the creditors to value the assets and develop a plan to market and sell VMW's assets.
CHIRON
First City Tower
1001 Fannin Street, Suite 4775
Houston, TX 77002
713.839.6200
713.335.4298 Fax
