Cratos Advisors Completes Sale of Machine Laboratory’s Anjon Business Unit

Scottsdale, AZ—Cratos Advisors was engaged as CRO of Machine Laboratory, LLC in November 2015 after the company went through a four-year total revenue decline of 28% and the total loss of a 24% EBITDA margin. Machine Laboratory is an ISO-certified engineering and high-precision manufacturing company with facilities in Lenexa, KS, St. Louis, MO and Jacksonville, FL and they specialize in the engineering, design and high volume manufacturing of critical, ultra-high precision CNC parts for a wide range of markets that includes aerospace, automotive safety, automotive OEM, medical, defense, industrial, oil & gas and power generation. To learn more about Machine Laboratory or Anjon please visit Machlab.com or anjoninc.com.

Cratos Advisors has been pursuing a number of strategies to deal with the parent company’s $75.0M in secured and subordinated debt and the sale of the company’s Anjon, LLC business unit located in Jacksonville, FL is one of the many steps being taken to deal with the debt and liquidity issues. The Anjon facility is FDA registered and provides engineering, design and manufacturing solutions for leading medical device companies. The sale price negotiated by Cratos represents a 50% premium over previous offers and was an all cash asset sale to a private investor with industry experience.

Dennis Gerrard, Cratos’ Managing Director, commented that “the sale of the Anjon business unit represents a positive outcome for all parties; it provided a measurable premium and liquidity to the secured parties, the buyer recognized a genuine value and the work force remains in place.”

Cratos Advisors is a professional advisory firm with a staff that has assisted hundreds of debtor clients to achieve improved operations and/or survival with turnaround and restructuring programs focused on optimizing operations prior to financial restructuring. Their professional services include but are not limited to Chief Restructuring Officer, Financial and Operational Advisors, Bankruptcy Advisory, Corporate Recovery, Crisis Management, Interim Management, Mergers & Acquisitions, Operational Evaluations, Refinancing and the Sale of Businesses or Assets. To learn more please visit www.cratosadvisors.com or contact Ron Turcotte, Managing Partner, at 770-605-7100 or email rturcotte@cratosadvisors.com.

 

 

Cratos Advisors Hired to Serve as Executive Chairman to Domestic Oil/Gas Drilling Equipment and Services Company

Cratos Advisors was recently engaged to serve as the Executive Chairman of the Board of Directors of a supplier of drilling equipment and services to domestic on-shore rig operators around the U.S.  The private equity backed company is dealing with multiple challenges systemic throughout the industry as a result of ongoing depressed commodity prices and reduced drilling demand.  As Executive Chairman, Cratos Advisors plans to negotiate a solution to the company’s current leverage issues, identify and implement further initiatives to drive efficiencies through the operations, and develop a go-forward strategy that solidifies its future value proposition.  To learn more, contact Ron Turcotte, Managing Partner,  at 770-605-7100 or rturcotte@cratosadvisors.com.

Cratos Advisors Named CRO for National Casual Dining Chain

Cratos Advisors has been engaged as Chief Restructuring Officer for a $50 – $100MM revenue private equity owned national casual dining restaurant chain.  The restaurant’s unique brand and growth strategy have created multiple operational issues and an over-leveraged balance sheet.  Cratos has begun a process to improve bottom line performance while simultaneously exploring sale, merger and refinancing opportunities. To learn more contact Ron Turcotte, Managing Partner at rturcotte@cratosadvisors.com.

 

 

Ron Turcotte Opens New Firm

For Immediate Release
December 31, 2015

Ron Turcotte Leaves Aurora to Open New Firm
Focused on Distressed Debt Opportunities

Scottsdale, AZ— Effective December 31st Ron Turcotte, who has been the Managing Partner of Aurora Management Partners Inc. for the past 11 years, has left Aurora to start Cratos Advisors, Inc.
Ron stated that “The entire Aurora team did a lot of great restructuring work over the last eleven years and many of those engagements were focused not only on fixing the business but more importantly, on enhancing recovery for the various stakeholders by cleaning up a bloated and complex capital structure. I’m now going to focus on pursuing these complex distressed debt opportunities and enhancing recovery through creative operational and balance sheet restructuring. Not every distressed company is truly distressed; in many cases through the sale process and in some cases multiple sales transactions, the company gets burdened with a debt and equity structure that it just can’t support”.
Cratos Advisors, Inc. is based in Scottsdale, Arizona and has professional staff throughout the US and Canada that will continue to provide traditional financial and operational restructuring with a heavy focus on distressed debt opportunities that require long-term reorganizations, in many cases with interim C-level management and major balance sheet restructuring.
Cratos and Aurora will have an ongoing relationship and they will continue to fulfill their joint obligations for all current Aurora engagements.
Cratos Advisors is pleased to introduce its team of professionals:
• Ron Turcotte, CTP, Managing Partner based in Scottsdale, AZ
• Charlie Soule, CTP, Senior Managing Director based in Orlando, FL
• David Houseman, Managing Director based in Chattanooga, TN
• Dennis Gerrard, CTP, Managing Director based in Naples, FL
• Jim Ebbert, CTP, Managing Director based in Portland, ME
• Richard Kennedy, CTP, Director based in Charlotte, NC
• Lynn Huras, Director based in Toronto, ON
• Jason Shulick, CPA, Senior Advisor based in Scottsdale, AZ
• Todd Peterson, Senior Advisor based in Scottsdale, AZ

Cratos Advisors, Inc. professionals have assisted hundreds of debtor clients to achieve improved operations and/or survival with turnaround and restructuring programs focused on optimizing operations prior to financial restructuring. Our professional services include but are not limited to Chief Restructuring Officer, Financial and Operational Advisors, Bankruptcy Advisory, Corporate Recovery, Crisis Management, Interim Management, Mergers & Acquisitions, Operational Evaluations, Refinancing and the Sale of Businesses or Assets.
Mr. Turcotte is scheduled to be on a distressed debt panel at the ACG Capital Connection in Atlanta on February 10th and 11th… Cratos Advisors is also a co-sponsor of the opening reception at the 2016 Distressed Investing Conference in Las Vegas on February 17th. Cratos Advisors professionals will be at both of these events so please stop by to meet them and learn more about the services we offer.
To learn more about our services and our professional team you can also visit www.cratosadvisors.com or contact Ron Turcotte, Managing Partner, at 770-605-7100 or email rturcotte@cratosadvisors.com.

Cratos Advisors, Inc.
7047 E. Greenway Pkwy.
Suite 250
Scottsdale, AZ 85254

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