Services

Mergers and Acquisitions

Our Principals have extensive domestic and international experience. From San Diego to Boston, and the Far East to Europe, we bring our clients a wealth of experience from across the country and around the globe. Our Principals have advised clients on the purchase and sale of companies, subsidiaries, and business units in a broad range of industries. Our professionals have successfully executed transactions for large publicly traded companies, private equity firms, and family businesses.

Debt and Equity Financings

The Principals of BSC raise capital for companies that would like to fund a new business, expand their existing business, finance acquisitions, or recapitalize to achieve owner liquidity.

  • Our valuation and transaction expertise allows us to structure each financing to meet our client’s objectives
  • We have long-standing relationships with private equity, venture capital, and numerous individual investors interested in private investments
  • Our ability to create demand through a competitive process ensures that our clients receive the best pricing available for debt and equity financings

Business Advisory Services

Our Principals have served as senior managers in a wide variety of companies ranging from start-ups to multi-billion dollar businesses. We understand that companies often require independent council unrelated to a specific business deal. We have a successful history of providing such services to our advisory clients. Our services include:

  • Serving as interim CEO or CFO for companies in need of temporary assistance
  • Providing business consulting for companies who require an independent perspective on corporate strategy and financing issues
  • Performing an extensive review of a company to prepare the company for an eventual sale or capital raise
  • Completing extensive due diligence for bankruptcy considerations and workout consulting

Valuations and Fairness Opinions

 

BSC can provide independent business valuations and fairness opinions. While there are many providers of valuation services in the marketplace, many of them come from an accounting background rather than a business/financial background. This can result in:

  • Emphasis on balance sheet values rather than market information for asset valuation
  • A backward-based rather than a forward-based approach
  • Relative insensitivity to the impact of business cycles, industry trends, and credit markets on valuation

Given our focus on mergers and acquisitions of privately held companies in the middle market, we are able to bring a range of tools to the valuation task including:

  • Industry analysis that provides insights on short- and medium-term industry trends and competitive environments
  • Credit market analysis that shows how the state of the credit market will affect the amount and terms of debt that a potential acquirer will be able to obtain
  • Financial and operational benchmarking that suggests ways to improve value before selling an existing asset, or areas for potential improvement after acquiring a new asset

Financing Restructurings

BSC provides advisory services to companies, creditors, and stakeholders in financially distressed situations. Our expertise includes working with debtors, bondholders, creditors’ committees, single creditor classes, and secured creditors. BSC’s restructuring experts provide strategic investment banking services to companies managing complex balance sheet and capital structure situations. The restructuring and turnaround team at BSC collaborates with management to stabilize finances and operations to reassure all parties that actions are being taken to enhance value. Our deep expertise across a wide array of industries allows us to quickly ascertain key issues and react promptly on behalf of our clients.
For clients in crisis, BSC:

  • Develops liquidity forecasts
  • Improves cash flow management
  • Obtains additional financing
  • Negotiates loan covenant waivers
  • Guides complex debt restructuring
  • Provides analytical and advisory services to lenders and unsecured creditors of distressed borrowers

BSC brings the depth of experience and speed of action that keeps distress from turning into crisis. Working with management, lenders, and your legal team, we ensure that financial stakeholders receive the best outcome in the shortest time with the clearest process.

Distressed Asset Divestitures

 

Managers, investors, and lenders always hope that businesses prosper, loans are paid off, and investments turn a profit. When this does not happen, prudent stewardship demands that some or all of the assets of the business be sold. In this case, there are certain key considerations:

  • Presenting the assets to prospective buyers in such a manner that a distressed sale does not become a fire sale
  • Working with management, lenders, and investors to avoid running out of cash during the divestiture process
  • Working with management and prospective buyers to ensure there are appropriate incentives to keep key personnel engaged and committed to the process
  • Ensuring that the treatment of all financial stakeholders (investors, lenders, vendors, customers) is not only fair but seen to be fair

While many banks have workout groups with the appropriate experience and industry focus, there are other lenders and investors who prefer to outsource the distressed divestiture process to a disinterested third party. Advantages of such an approach include:

  • A higher degree of transactional sophistication than found in many operating firms
  • Minimizing conflicts between investors, lenders, and management
  • Setting management free to focus on operating the core business rather than being distracted by transactional details
  • Demonstrating to lenders, customers, and vendors that management is serious about addressing financial concerns in a rapid and professional manner

Merchant Banking

BSC invests the firm’s own capital, as well as capital raised from outside investors, in corporate opportunities.

BSC’s merchant banking group provides strategic funding and management expertise to privately owned lower- and middle-market companies geared at facilitating growth, buyouts, restructurings, and turnarounds. BSC partners with existing management teams and provides refined expertise in finance, operations, and organizational development to foster sustainable growth and profitability.