They combine experience, common sense, integrity, ideas, perseverance and the ability to inspire, motivate and work well with other people.
Carlos Gila, Oaktree Capital Management
Areas of operation:
A US vehicle component manufacturing company disposing its assets and business to Arvin Meritor had an Austrian business; a holding company and an operating subsidiary which was part of the sale transaction. The Austrian CEO was partly conflicted as a minority shareholder in the Austrian operating subsidiary and would continue as Austrian CEO with the buyer. The sale price was dependent on achieving an aggressive last month’s revenue and on a working capital adjustment. BM&T worked with the seller to monitor and advise the CEO on the final month’s production and working capital in order to achieve the required sales price. Subsequent to the sale BM&T worked with local counsel to wind down the two Austrian subsidiaries including managing tax issues and, cash transfers and final liquidation.
Notes, insights and reflections from Matthew, one of our directors and turnaround experts, as he works with companies during Lockdown.