Kreshmore Group (KG), a private restructuring and strategic mergers & acquisitions advisory company, has successfully completed an eight month endeavor providing critical corporate restructuring and M&A intermediary services for CCC Technologies (CCC), the company said.
As a result of KG´s strategic services, enterprise management value was enhanced and CCC was successfully acquired by a boutique private equity firm located in the Chicagoland market.
CCC, a full-service IT firm located in the western suburbs of Chicago, in late 2018 found their business in a heavily distressed situation when they decided to utilize Kreshmore Group´s professional turnaround expertise.
CCC welcomed KG´s skillset and found true value right from the onset as Kreshmore Group began restoring financial confidence by addressing strategic and operational challenges. “Kreshmore Group was able to roll up their sleeves quickly to help our business stabilize, rehabilitate and restructure,” said Geoff Adaire, CEO of CCC. “A realignment was necessary, and KG took a true partnership approach during an uncertain time.”
By implementing a turnaround plan and developing a future-state-operating-model for CCC, critical steps were taken to manage communications with lenders and creditors, provide financial modeling and operational improvements, and focus on enhancing liquidity and cash management. KG inserted an interim chief restructuring officer (CRO) to handle critical financial and restructuring activities. “With our hands-on approach and skill set we were able to execute a diligent strategic turnaround plan with success,” said Greg Paulus, CRO at Kreshmore Group. “A sharp focus on true cash management and cost-effective spending was critical in realigning CCC´s business.”
CCC Technologies (CCC) is a full-service IT firm located in the western suburbs of Chicago. Founded in 1984 after the ruling that broke apart AT&T, the Firm sold and supported Nortel phones, a spinoff of AT&T. To learn more about CCC visit www.CCCTechnologies.com.
Kreshmore Group (KG), through its predecessors started operations in 2009, is a seasoned restructuring and M&A advisory company. The firm serves diverse niche industries of mid-market & emerging growth companies within the continental United States. To learn more about KG visit www.Kreshmore.com or our LinkedIn page, today.