The Debtor was an Exploration & Production (E&P) company with drilling activity and 100+ well production in New Mexico (Delaware Basin) and Oklahoma. The investor group terminated the management team as a result questionable dealings and related litigation between the parties. The Company filed Chapter 11 bankruptcy and conducted a sale of assets through a 363 sale process.
A private equity owned manufactured of tissue paper products had its CFO resign unexpectedly and needed an immediate replace. Company was facing operational and financial challenges as well as meeting the financial reporting requirements of the private equity firm. Company was in need of short-term cash management, so a 13-week cash flow was developed. In addition, operations issues impacting financial reporting had been identifies that required the CFO to participate with the management team in identifying and implementing operational solutions.
A private equity-owned manufacturer of plastic storage containers, floor protection mats, office products and point-of-sale display holders had its CFO resign unexpectedly and needed an immediate replacement. The Company was facing operational and financial challenges as well as having trouble meeting financial reporting requirements of its Board. Due to the 2020 pandemic, the Company was in need of short-term cash management expertise, as well as operating budget updates. In addition, management of the accounting staff and financial reporting function needed to be managed and improved while a permanent CFO replacement was recruited and trained.
An operator of 180 physician practices across seven states needed an interim CFO while it searched for a permanent CFO. The Company had made fifteen acquisitions of practices over the prior 18-month period and was looking to add additional practices. Integrating the practices to the billing, payroll, and payable system as well as closing the financials on a timely basis and providing forecasted cash flow to the private equity owner were key responsibilities of the CFO.
Harney Partners was engaged in a variety of advisory roles from 2007 to 2014 during a very tenuous time for this aluminum die casting company, helping them navigate the 2008 recession and the unprecedented automotive downturn. When Harney was engaged, the company had a 95% customer concentration in the automotive sector and were experiencing a 50% decline in sales volume as overall automotive volumes experienced a similar reduction.