Mergers and Acquisitions
Corner Capital has over 150 years of operating and transactional experience to unlock the value of your enterprise.
Monetizing Your Enterprise - Realizing your business goals and dreams is the fruition of many years of planning and calculated decisions. Our clients not only value our broad experience in guiding them through these decisions, but also that we have stood in their shoes as principals of our own companies. Whether a family enterprise in its third generation or an institutionally backed entity, we believe our steady, disciplined, and focused process enables all constituencies to capitalize on their years of hard work. Qualified and reliable buyers are familiar with our expert industry knowledge and process when bringing opportunities to market. Our reputation for a discrete, confidential, and efficient process delivered with an acute attention to detail is well known among national and regional acquirers.
Our market knowledge and coverage enables us to provide real-time valuation assessments with realistic expectations on what can be achieved in today’s environment. Our clients demand that we ask the right questions – through our interviews and scenario planning – to fully comprehend their desires for liquidity, their concerns about transitions within the family or management, and perhaps their need for future reliance on their Company’s performance. We believe our listening skills are unmatched, resulting in successful conclusions to the engagement.
Valuation Services - Our market knowledge and coverage enables us to provide real-time valuation assessments with realistic expectations on what can be achieved in today’s environment. Our clients demand that we ask the right questions – through our interviews and scenario planning – to fully comprehend their desires for liquidity, their concerns about transitions within the family or management, and perhaps their need for future reliance on their Company’s performance. We believe our listening skills are unmatched, resulting in successful conclusions to the engagement.
Business Segment and Asset Sales - Some parts of your enterprise may not be yielding the success you expect or demand. Perhaps you sense that markets may be moving against you and question whether to retain that business. Or simply, you know you need to prune your retail network to generate capital for new opportunities. Our Enterprise Assessment process can help determine where your capital and your time are best invested. Our experience serving high-performing companies gives us insight on how these operators assess their business unit performance as part of their ongoing strategy measurement. We can assist in the evaluation of individual business segments or assets, while locating strategically interested parties to raise capital for those opportunities most important to you.
Buy-Side Engagements - We have been retained by various clients to identify and transact negotiated acquisitions after developing criteria-driven strategic targets. Our years of relationships with operators, lenders, vendors, and investors yields results to our clients in the form of an efficient process supported by acquisition and market metrics, resulting in strategic growth for our clients.
Seller Structured Buyouts - Oftentimes business owners already have a targeted buyer in mind: the next family generation, an existing partner, or trusted management. As a first step, we can assist with valuing the enterprise as part of this transitional planning so that the parties have an objective target. We then assess the factors most important to our clients in this transition, which may include estate planning and wealth transfer, tax efficiency, employee retention, or continued but limited involvement. Based upon these drivers, we create financeable structures that ensure a smooth transition for the next owner and assist in the sourcing of the capital to accomplish it.
Financing and Restructuring
A trademark characteristic of the Downstream Energy industry is a heavy demand for plant, property, and equipment. Because our industry involves hazardous substances, many lenders avoid investing in companies regardless of credit quality. Our lending relationships are comprised of “Energy” specialists within local, regional, and national banks, who we have educated on the unique aspects of transacting with petroleum products.
Financing - Corner Capital’s underwriting team is comprised of former lenders and operators in the industry. We understand the key criteria that each lender seeks in a potential relationship, and our models are designed to create the most opportunistic structure and partnership for your financing. Whether seeking a refinancing due to a maturing loan facility or reaching concentration limits with your existing lender, our process secures the best financing proposals for your enterprise. Our underwriting team can also identify additional capacity for a total loan facility to include revolving credit lines, new development credit lines, and equipment financing. As a national leader in securing loan facilities for Downstream Energy clients, our underwriting memorandums have become an industry standard for lenders in their credit assessments. Additionally, our process allows clients to focus on their daily operations while we manage the entire financing process through to the successful execution of the loan facilities.
Restructuring - Circumstances often require an objective perspective, where executives find the need to step back and digest sub-par performance. Whether challenges have arisen from initial acquisition optics or company markets have deteriorated beyond repair, we can provide an honest assessment of your situation and options. Our experience operating Downstream Energy enterprises provides for an accelerated solution to your challenge, something we believe you won’t find from general practitioners. We assist in averting crises by developing consensus among creditors and lenders that a refinancing best serves all constituencies. We work with borrowers, vendors, and lenders in a thoughtful, transparent manner to find workable solutions after our assessment and planning process. Our restructuring services include:
- Advisory Services – We will swiftly perform an in-depth analysis to identify, develop, and implement turnaround initiatives from tactical, financial, and operational perspectives. Working with management, our team’s multifaceted approach is designed to have immediate, material, and quantifiable results.
- Lender Negotiations and Debt Restructuring – Our deep working knowledge of the mechanisms available to steer your business enable us to creatively model a robust range of sensitivities and assumptions to present a compelling case to lenders and other constituents. Our extensive relationships with lenders and creditors provides comfort when they know our clients have retained our services. We’ve built industry credibility through demonstrated success in restructurings, rapid refinancing, and insolvency cases through formal reorganization under the bankruptcy code.
- Turnaround and Interim Management – We provide interim management to support and bolster internal resources shortening the lead-time for implementing strategic or crisis-driven objectives. Our practitioners bring a fresh perspective without the distractions of daily operations, and have held titles of Chief Financial Officer, Chief Restructuring Officer, and Controller in their past careers.
- Reorganization – In more formal cases, we serve our clients in interim Chief Financial Officer projects and court-approved Chief Restructuring Officer roles. With first-hand experience in restructuring and reorganizing companies, we understand the professional and personal impact of such situations on our clients, their families, and their employees. Our staff is ready and willing to step in to provide the necessary services to put your company on the right track to recovery. Our team members have led numerous restructuring and court-sanctioned engagements on behalf of debtors and creditors.
Loan Purchases - Solutions to credit challenges can come in creative forms, including the acquisition of bank loans. Whether a lender desires to exit a loan facility supported by challenged credit or the lender is exiting a specific geography or asset segment, Corner Capital or its partners may acquire such loans from the lending institution. Loan purchases can be restructured to provide the borrower with performance and time relief while enduring difficult market conditions.
GENERAL ADVISORY AND SPECIAL NEEDS
In some cases, clients such as private equity funds, institutional investors, and lenders seek third-party perspective on pending transactions or strategies.
Our seasoned experience managing, financing, acquiring, and divesting within all operating and financial components of Downstream Energy enterprises can be valuable as you progress towards a better understanding of your transaction. Our clients have leveraged our expertise in assessing acquisition strategies, industry trends, regulatory issues, management, and unique opportunities in Downstream Energy. Specific examples include:
- The sale of senior-secured loans supported by Downstream Energy collateral
- Trends and influences of Master Limited Partnership entities
- Due diligence compilation and reporting
- Expert Witness Testimony
- National / Regional market issues
- Valuation Services
- Competitive market assessments