Issue

• Inherited a money losing $800M staffing company with mission to sell the company within 3-4 years
• U.K. company was technically in default
• U.S. company had numerous money losing customer accounts and weak product lines
• Management was long-time entrenched and in disarray
• Founder/owner wanted to sell company and retire

Solution

• Quickly achieve cash flow stability and refinance UK subsidiary
• Rebuild business model by dramatically reducing overhead (over 40% headcount reduction) and eliminating unprofitable customers
• Refinance US company and create funding capacity for restructuring and new growth
• Develop new product and marketing strategy
• Reposition brand
• Rebuild balance sheet to facilitate acquisitions and organic growth
• Acquired 26 companies (“bolt-ons”) and integrated without any overhead increase