People
Facing significant financial headwinds, the CEO of a $2 billion global household and garden consumer products company met with AlixPartners to discuss how we could assist them as the company was facing significant financial headwinds, driven by rising commodity costs and increased competitive pressure.
At the time of our initial meeting, the company had been negotiating with lenders for several months, and they needed a credible business plan in order to deal with mid-2023 debt maturities and a potential default that could lead to a bankruptcy. At the same time, existing private equity ownership ultimately wanted to improve the overall performance of the business to help increase the valuation for an eventual exit.
Over the course of 12 months, we worked hand-in-hand with the executive team and private equity owners to transform the performance of the business, increase the valuation of the company, and assist with refinancing and the sale of the business.
We also supported restructuring negotiations to help the company manage and extend its liquidity runway and engage in contingency planning. This work, along with the transformation work, was instrumental in obtaining an agreement with the lenders.
The agreement fended off a bankruptcy and paved the way to a sale of the company.
€100mn +
transformation improvement plan with €50mn implemented during engagement
supported
sell-side activities
"AlixPartners was an incredible partner in helping us transform the business and eventually setting us up for the sale process."
