Mid-size Company Transaction



Mid-size Company Transaction - Beach Mold & Tool, Inc.
Sheldon Stone, Amherst Partners
Brian Phillips, Amherst Partners
James Morden, Amherst Partners
Sue Cook, Warner Norcross & Judd LLP
Vince Pavlak. KPMG US
Peter Bolton, Wolfson Bolton PLLC

About the Transaction:
The restructuring team at Amherst Partners was initially recommended as a financial advisor by Wells Fargo Bank, Beach Mold & Tool's lender. Upon being engaged, Amherst determined that the company was insolvent, and operational losses were continuing to increase as time went on. These conditions ultimately proved serious enough for Wells Fargo to require Amherst to assume the role of CRO, at which point Wells Fargo also mandated a sale of the entity. 

Rather than follow the path of pure liquidation, Amherst was able to first facilitate the sale of an underperforming division located in Virginia. The Virginia division was, at the time, responsible for the majority of the company’s continuing losses. These losses were consuming all positive cash flow generated by the remaining division located in New Albany, Indiana. 

At the same time, acting as CRO, Amherst implemented an aggressive financial and operational restructuring plan at the New Albany facility. This included on-site cash management, operational restructuring, vendor negotiations, and management of customer relationships, including working with OEMs to ensure they would not re-source work to other suppliers, thus creating further difficulties for the company.

This work to stabilize the company, address systemic issues that resulted in its significant losses, and demonstrate the business’s potential value to prospective buyers paved the way for the successful sale of the business to Michigan-based NYX Inc.

Upon closing the transaction, NYX created a new operational entity, NYX New Albany, thus keeping the entity in the community. The results of the transaction were: 1) all existing jobs were preserved and new positions were created; 2) all secured and unsecured creditors were paid in full; 3) all professionals were paid in full; and 4) the final sale price exceeded the full payout to the creditors. Thus, Beach Mold & Tool equity shared in the proceeds and also maintained ownership of the facilities, which will provide ongoing rental revenues.


 

ConferenceAgenda

Agenda subject to change - all times in CDT
 

Tuesday, September 29, 2020  
8:00 a.m. - 11:30 a.m. 

Morning Coffee Shop Chat Rooms

Sponsored by MACCO Restructuring Group, LLC

8:45 a.m. - 9:00 a.m. Daily Announcements 
9:00 a.m. - 9:30 a.m.

Guided Meditation Class

Sponsored by Ritchie Bros

9:00 a.m. - 10:00 a.m.

Opening Session: Mega Trends 3.0               

Sponsored by Saul Ewing Arnstein & Lehr LLP

10:00 a.m. - 10:20 a.m.  VIP Access with Mega Trends 3.0 Panelists
10:30 a.m. - 11:30 a.m. 

TMA NOW Event 

Sponsored by AlixPartners, LLP

12:30 p.m. - 1:30 p.m.

General Session: Options! Options! Options! Alternatives to Bankruptcy       

Sponsored by Sherwood Partners, Inc.

12:30 p.m. - 3:30 p.m. 

Re-Energized Afternoon Coffee Shop Chat Rooms

Sponsored by MACCO Restructuring Group, LLC

1:30 p.m. - 1:50 p.m.  VIP Access with Options! Options! Options! Alternatives to Bankruptcy panelists 
2:00 p.m. - 3:00 p.m.

Education Session: Contested Issues in DIP Financing in the Uncertain World of Our New Normal

Sponsored by Riemer & Braunstein LLP

2:00 p.m. - 3:00 p.m.

Education Session: Managing Chaos in the Era of Loan Defaults: What Lenders and Borrowers Need to Know

Sponsored by McCarter & English, LLP

4:00 p.m. - 7:00 p.m. 

Spiked Coffee Shop Chat Rooms

Sponsored by MACCO Restructuring Group, LLC

4:00 p.m. - 5:00 p.m.  TMA 101: First-Timers and New Members Event 
5:00 p.m. - 6:00 p.m. 

Education Session: The Dark Days and Nights for the Sports Industry

Sponsored by FTI Consulting, Inc.

5:00 p.m. - 6:00 p.m.

Education Session: Beyond the Transaction: Stories of Post-Merger Integrations

Sponsored by CohnReznick LLP

6:00 p.m. - 7:00 p.m. 

TMA Variety Show 

Sponsored by Ritchie Bros

Wednesday, September 30, 2020  
8:00 a.m. - 8:30 a.m. 

Turnaround Yoga Class 

Sponsored by Ritchie Bros

8:00 a.m. - 11:30 a.m. 

Morning Coffee Shop Chat Rooms 

Sponsored by Newpoint Advisors Corporation

8:45 a.m. - 9:00 a.m. Daily Announcements 
9:00 a.m. - 10:00 a.m.

General Session: They Might Be Giants: The Titans of Today and Their Lessons from Along the Way

Sponsored by Hilco Global

10:00 a.m. - 10:20 a.m.  VIP Access with They Might Be Giants: The Titans of Today and Their Lessons from Along the Way panelists 
10:30 a.m. - 11:30 a.m. 

TMA NextGen Event 

Sponsored by Arch + Beam

12:30 p.m. - 1:10 p.m.

Keynote: Mariana Mazzucato: Never Waste a Crisis: Rethinking Capitalism During COVID-19

Sponsored by Gordon Brothers

12:30 p.m. - 3:00 p.m.

Re-Energized Afternoon Coffee Shop Chat Rooms

Sponsored by Newpoint Advisors Corporation

1:10 p.m. - 1:30 p.m.  VIP Access with Keynote Speaker 
2:00 p.m. - 3:00 p.m.

Education Session: Figuring Out Retail: What Was Already Bad Just Got a Lot Worse

Sponsored by Hilco Global

2:00 p.m. - 3:00 p.m.

Education Session: The Impact of COVID-19 on Higher Education: A Schism of Debt, Endowments, and Educational Challenges, Too

Sponsored by Alvarez & Marsal

4:00 p.m. - 5:00 p.m. 

TMA Awards Celebration: "Better Together Roundtable"

Sponsored by Ritchie Bros

4:00 p.m. - 7:00 p.m. 

Spiked Coffee Shop Chat Rooms

Sponsored by Newpoint Advisors Corporation

5:00 p.m. - 6:00 p.m. 

The Business IMPACT of Diversity and Inclusion: Strategic Conversation Workshop

Sponsored by Burford Capital

6:00 p.m. - 6:20 p.m. VIP Access with Diversity and Inclusion Workshop panelists 
6:00 p.m. - 7:00 p.m.  TMA Family Feud
Thursday, October 1, 2020  
8:00 a.m. - 11:30 a.m. 

Morning Coffee Shop Chat Rooms 

Sponsored by Gulf Coast Business Credit

8:45 a.m. - 9:00 a.m. Daily Announcements 
9:00 a.m. - 9:30 a.m. 

Impact Fitness Class 

Sponsored by Ritchie Bros

9:00 a.m. - 10:00 a.m.

Keynote: Duncan Wardle, Innovation & Creativity in a Virtual World

Sponsored by Burr & Forman, LLP

10:00 a.m. - 10:20 a.m.  VIP Access with Keynote Speaker Duncan Wardle 
10:30 a.m. - 11:30 a.m. 

TMA Talks: International 

Sponsored by Deloitte

12:30 p.m. - 1:30 p.m.

General Session: Will the Patient Survive? The Healthcare Industry in a COVID-19 World

Sponsored by Carl Marks Advisors

12:30 p.m. - 3:00 p.m. 

Re-Energized Afternoon Coffee Shop Chat Rooms

Sponsored by Gulf Coast Business Credit

1:30 p.m. - 1:50 p.m. VIP Access with Will the Patient Survive? The Healthcare Industry in a COVID-19 World panelists 
2:00 p.m. - 3:00 p.m.

Education Session: Intentions in Retention: Ethical Considerations When Being Retained in Bankruptcy Cases     

Sponsored by SM Financial Services Corporation

2:00 p.m. - 3:00 p.m. 

Education Session: Market Liquidity and Impact

Sponsored by Deloitte

3:30 p.m. - 4:00 p.m.  VIP Access 
4:00 p.m. - 7:00 p.m. 

Spiked Coffee Shop Chat Rooms

Sponsored by Gulf Coast Business Credit

4:00 p.m. - 5:30 p.m. 

Virtual Capital Connection + Networking Event

Sponsored by Duff & Phelps, LLC and Getzler Henrich & Associates LLC

5:30 p.m. - 6:30 p.m. 

TMA 'Big Tent' Celebration

Sponsored by Ritchie Bros