Service Type: Industry & Transactional Advisory
Client: Summit Investment Management, LLC
Client Description: Founded in 2002, Summit Investment Management is a private investment company headquartered in Denver, Colorado. The Company invests in distressed debt acquisitions, balance sheet restructures, special situation capital, bridge loans and joint ventures.
- The Company was seeking transactional advisory for the acquisition of the Target, a conventional motor fuels and lubricants jobbership with over 30 years of operating history, yet found itself in Chapter 11 Bankruptcy.
- The Company retained Corner Capital to conduct due diligence, analyze the Company’s operating cash flow, perform a valuation of the Target’s assets, and underwrite a financing proposal in support of a planned strategic acquisition.
- The Target company’s highly leveraged position and prevailing market conditions prompted the Company to request transactional advisory from Corner Capital.
- Corner Capital traveled with the Company to evaluate specific areas in support of the Company’s investment, conducting inspections of physical assets, inventory, management team, business operations, supply contracts, industry opportunities, technology, and potential liabilities.
- After subsequent site visits, management interviews, financial overview and review of the target company’s operational policies and practices, Corner Capital offered a number of suggestions to optimize the strategic return of the Company’s investment in the target.
- Corner Capital provided a much needed cash flow projection to support the Company’s ongoing business operations, and select sales of non-strategic assets.
- Corner Capital developed a pre-closing and post-closing business strategy for the Company’s future ownership.