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Corporate Finance

  • Business Valuation
  • Acquisitions & Divestitures
  • Due Diligence
  • Financial Restructuring
  • Debt Refinance
  • Business Plan Analysis
  • Board Advisory Services

Ebbers Trust

Trucking; Forestry; Real Estate

Post-Litigation Trustee

  • Appointed by Comptroller of State of New York and MCI
  • Supervise and sell interests in operating entities for beneficiaries

The trust consists of certain assets contributed by Bernard Ebbers in settlement of his securities litigation matters, and included Columbus Lumber (a saw mill), KLLM Trucking (an over-the-road trucking company), Angelina Plantation (commercial farming) and Joshua Timberlands (real estate and timber holdings in excess of 200,000 acres). DSI has marketed and sold major parts of these assets on going concern bases, and has refinanced and is preparing the remainder for disposition. The gross value of these assets is estimated to be approximately $400 million.

DSI Team: Bill Brandt, Joe Luzinski, Fred Caruso, John Wheeler, Fritz Reed & Brian Weepie

Clore Automotive, LLC

Distribution, Automotive

CRO, Financial Advisor to Company

  • Sold Non-Core Business Units
  • Turned Operations of Remaining Units to Profitability in Approximately 12 Months

Clore Automotive, LLC is a marketer and distributor of branded products including battery chargers, portable power, welding and cutting equipment, lifting equipment (jacks), and fluid exchange products, sold through traditional automotive channels. DSI was engaged by the Company’s equity sponsor to provide a preliminary assessment of the company and recommendations for its rehabilitation, and its role was then expanded to include Chief Restructuring Officer. The company divested through a sale two underperforming business units, consolidated its facilities and operations and "right-sized" its overhead and staffing, resulting in a swing to profitability and a significant reduction in senior debt balances.

DSI Team: Joe Luzinski, Brian Calvert, Clare Pierce, Jim Moore, Yale Bogen

BCP Management

Chemicals

Financial Advisor to Outside Board of General Partner

  • Wholly-owned subsidiary of Borden Chemical Company
  • Advised independent board regarding Chapter 11 of affiliates

DSI was engaged to provide advice to the outside directors of a wholly owned subsidiary of Borden Chemical, which was the general partner of a limited partnership that operated chemical plants in several states. The General Partner and the Partnership were separately in Chapter 11, and had different creditor constituencies. DSI's role included directing the activities of the General Partner, subject to the board's supervision, resulting in a joint, confirmed Chapter 11 plan.

DSI Team: Fritz Reed & Eric Sweitzer

UCAL Fuel Systems, Ltd.

Automotive

Financial Advisor to Buyer

  • Private Acquisition & Merger
  • Provided Due Diligence Services

DSI provided financial advisory services, including acquisition due diligence and negotiations with the selling entities, on behalf of a foreign buyer in its successful acquisition of two U.S. second tier automotive parts manufacturers and the merger of those entities into the buyer's existing business.

DSI Team: Bill Brandt, Clare Pierce, Brian Calvert, Jim Moore & Tom Spielberger

Dana Corporation

Automotive Parts Manufacturer

Financial Advisors to Official Committee of Non-Union Retirees

  • Represents 7,000 retirees
  • Opposes termination of plans and benefits

DSI provides financial advice and expert testimony in connection with proposed modifications of the retirees' medical benefits. Dana Corporation, with revenues of over $8 billion, is a leading supplier of axle, driveshaft, frame and sealing and thermal management products for global vehicle manufacturers. It employs 44,000 people and operates 116 major facilities in 28 countries. DSI's engagement entailed analysis of the financial condition of the company and its international affiliates and developing and negotiating counter-proposals for modification of retiree benefits.

DSI Team: Pat O'Malley, Brian Calvert, Brian Weepie, Matt Braun & Cathy Vance

Elantic Telecom, Inc.

Telecommunications

Expert Witness and Financial Consultant to Buyer

  • Retained to advise regarding plan feasibility and value for plan proponent
  • Negotiations with Creditors' Committee resulted in consensual plan

Elantic Telecom, Inc. is the owner and operator of fiber optic networks concentrated in the Eastern and Northeastern United States. DSI was retained by the parent company to evaluate the parent sponsored plan of reorganization and to prepare and testify as an expert at plan confirmation as to the reasonableness of the plan. DSI evaluated the assets, and assisted in negotiations with the creditors' committee and other prospective buyers to achieve a settlement between the committee and the debtor.

DSI Team: Joe Luzinski, Steve Victor & Bill King

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