Manufacturing and Industrial
- The Company is a publicly-traded oil field services provider which required debt financing for its acquisition of a heavy haul, logistics and mobilization company
- Both acquiror and target serviced a deeply distressed industry, and the Company engaged Chiron in the Summer of 2019 during a volatile oil and gas market with limited debt and virtually no equity investors on the horizon
- The acquiror’s EBITDA declined 86% from $8.9 MM in 2018 to $1.2 MM in 2019
- Following the tragic death of the Company’s CFO, Chiron served as de-facto CFO throughout the process
- Chiron contacted over 400 lenders and investors
- As a result of the volatile market environment, the transaction underwent multiple changes in financing structures and lending sources prior to closing on February 27, 2020
- Re-negotiated stock purchase agreement for the Company with Seller Financing
- Negotiated with 3 Family Offices for convertible debt with stock grants
- Ultimately closed on five separate pieces of financing in order to meet the required cash proceeds
- Closed deal despite increasingly adverse conditions in Oil & Gas and one week prior to COVID lockdowns and an oil price collapse
“Chiron skillfully guided our company through a highly complicated acquisition financing that ultimately required five separate financing instruments and a tremendous amount of perseverance in a challenging market environment. The Chiron team was relentless.” Logistics Company
The acquirer's EBITDA declined 86% from $8.9 MM in 2018 to $1.2 MM in 2019.
The Chiron Solution
Chiron contacted over 400 lenders and investors and re-negotiated stock purchase agreement for the Company with Seller Financing.
Closed deal despite increasingly adverse conditions in Oil & Gas and one week prior to COVID lockdowns and an oil price collapse.