Kibel Green - 2009 in Review
As we begin 2010 I wanted to share some of the exciting news in the halls here at Kibel Green.
Before I get to the details, I’d like to welcome you to give us a call if you know of a business:
- lacking a turnaround plan,
- clashing with lenders.
- seeking additional capital, or
- needing to reduce costs.
Moving on to some of the highlights from 2009 ...
Leadership. Over the last 18 months our practice has expanded significantly and we’ve added some exceptional leadership to our team. Tim Vadney (Operations), Matt Covington (Financial Restructuring) and Jay Maddox (Real Estate) are new Managing Directors heading their respective practice areas. They compliment our two veterans , Bruce Conklin and Dick Alston, who lead the Turnaround Practice.
Service Emphasis. I’ll take the opportunity to highlight a few areas where we are doing some very interesting and significant work.
The first is Business Process Outsourcing. Kibel Green’s practice continues to expand and deliver cutting-edge projects, most recently in the Media Industry. We have a couple of very sizable projects that are driving 40-50% reductions in labor cost through newly developed outsourced services and better use of technology. The teams are delivering remarkable results and I encourage you to contact us to learn more.
The second area I’d like to highlight is in the Real Estate arena. We’ve achieved dramatic results assisting developers and owners of portfolios restructure existing loans that were in default or refinance debt below par through the infusion of new capital. In one situation, a client faced personal bankruptcy and the loss of their company. We worked with the client to raise new capital as part of a strategy. In the end, the client retained the portfolio of real estate assets, the secured lender reduced its debt 44% and eliminated all personal guarantees.
The other thing I wanted to highlight is in our turnaround practice, where we’ve been able to achieve long term consensual restructuring agreements with banks and lenders. I’m also happy to report that Kibel Green successfully completed all assignments that required a bankruptcy process.
Profile. The following is a sample of our clients and services over the past year:
Complexity. The increased complexity of our business is the result, in part, of an increased breadth of the industries served during 2009:
The economy has not only caused businesses to miss their plans, but the dramatic change adds to the complexity of the situations. As a result, lenders are increasingly seeking assistance from credible and competent advisors for these intricate situations. Lender representation was approximately 10% of our clients during the year, and I anticipate this segment of our business to grow in 2010.
Similarly, we continue to do a healthy dose of work for trustees and for receivers in support of their responsibilities.
Looking forward to 2010 I still see a tremendous backlog of distressed situations that have yet to be recapitalized, sold, or turned-around. With that in mind, we continue to build our organization in the expectation of another strong year.
In closing, 2009 was our 25th year of business. The KGI team thanks you for your continued support. We are proud of the results we deliver for our clients and appreciate the opportunity to serve the business community that has been so good to us.
Whether a Company is struggling financially or on the cusp of breakthrough growth, Kibel Green can help. Our seasoned experts work alongside management to solve complex cash flow issues, operational challenges and other business crises. If liquidity or sale is needed, Kibel Green provides a powerful combination of services and expertise to achieve outcomes that cannot be duplicated by other standalone consulting firms.
