Phoenix served as the exclusive financial advisor in structuring and negotiating the sale of assets for a software technology and integration services firm.
The Company was a $20 million publicly traded Software Technology and Integration Services Firm based in Dallas, TX.
Four consecutive years of losses, and a declining liquidity position led the Board of Directors and certain shareholders to the conclusion that a third party turnaround manager was required.
Phoenix was engaged as interim CEO. Phoenix implemented a reduction in force, recapitalized the business with $3 million in new financing, and refocused the Company’s efforts on profitable business units. Furthermore, Phoenix facilitated the creation of a new value-added product line that commanded higher margins. The Company’s return to profitability, coupled with the development of new products and services, positioned the company for a sale at a premium price to an industry participant. Phoenix led the negotiations throughout the sale process, which generated total value in excess of $18.0 million. Phoenix continued to serve as interim CEO throughout the transition process after the completion of the sale transaction.
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