Case Studies

Sell-Side Transaction Support / Restructuring

Background

Paradigm is engaged by an oilfield services company to provide transaction support in connection with evaluating alternatives to raise capital and restructure operations. The Company was experiencing significant liquidity issues due to macro shifts in its business model due to more drilling occurring further offshore reducing demand for its services.  Paradigm worked alongside the Company's investment bankers to support the process to evaluate asset sales, raise capital and assess potential joint ventures.

Solutions

  • Led restructuring activities including managing creditor negotiations (secured/unsecured) and assessment of critical vendors
  • Interim CFO services to reshape accounting and finance functions to align with restructured operations
  • Supported investment banker's process to evaluate strategic alternatives including preparation of confidential marketing materials, sell-side analyses, and forecasting models
  • Assisted with negotiation of the asset purchase agreement, supported due diligence, constructed data room, and participated in site visits in connection with the sale of a portfolio of drilling assets purchased by a strategic buyer
  • Met with bank group to work through distribution of asset sale proceeds

Outcomes

Successful asset sale with a related joint venture agreement with buyer provides capital for lenders/creditors and future business opportunities.  Remaining sale proceeds allow the Company to reorganize remaining operations without filing bankruptcy.

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