BioTek

$50m – Laboratory test equipment

Areas of operation:          

A US company having acquired a European group with an Italian factory and distribution subsidiaries in France, Germany, UK and Switzerland from a distressed European vendor breached bank covenants within six months of the acquisition when the vendor progressively filed for bankruptcy in all its European locations causing collateral damage to the acquired group. BM&T Principals took over the operational and financial management of the acquired group and restored the company to profitable operations whilst working with legal advisors to manage the complex legal issues arising from the vendor bankruptcy in Italy, France and Germany.

Company Doctor's Diary

Notes, insights and reflections from Matthew, one of our directors and turnaround experts, as he works with companies during Lockdown.