Gulf
Atlantic Capital Develops and Implements
Comprehensive Financial Restructuring.
West Palm Beach,
Florida
$26,000,000
Gulf Atlantic
Capital acted as financial restructuring advisor to the debtor.
Gulf
Atlantic Capital Develops
Structure and Implements Comprehensive
Financial Restructuring.
Bomar’s attempt at a consolidation within the specialty textile industry segment failed after a key customer contract was lost and competition from foreign supply sources decreased industry margins.
Due to the decreased profitability, Bomar’s capital structure, including nearly $40 million of senior and subordinated debt, was in excess of the Company’s current enterprise value.
Gulf Atlantic Capital assisted Bomar and its investors by analyzing the Company’s position within the textile industry and developing a detailed go-forward business model, including analysis of a supportable level of debt.
Gulf Atlantic Capital assisted in negotiations with the senior lender syndicate and institutional subordinated debt holders to restructure the Company’s capital structure, including restructuring debt levels and contractual debt service.
