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Restructuring of facilities management group

BTG Advisory was engaged to support a private equity client following the acquisition of a facilities management group comprising seven entities with over 500 employees. The group was facing significant financial and operational distress as a result of the Covid lockdown.

Our specialist team worked with the new owners and management team to review and manage cash flow, including long-term cash flow modelling. Once this was complete, our team were then able to advice on contingency planning and available restructuring options and provide ongoing support throughout the operational restructuring process.

BTG Advisory was able to plan and implement two interlocking CVAs across five legal entities and provide debt advisory services to raise a £6m ABL facility to support the group post-CVA.

The restructuring plan and CVAs were successful, saving 320 jobs (57% of the original workforce), and keeping 2.5 sites open. With this refocus of the business the projected revenue of the business increased substantially.


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