A mid–sized manufacturing company based in the Upper Midwest had been losing money for several years. Turning Point was engaged to manage the severe cash crisis, assess the Company’s financial and operating plans, drive a financial turnaround, and re-establish the basis from which to renegotiate the current credit facility, seek a new lending partner and/or sell the business units.
A business division was established in 2001 in Humboldt, Iowa as a strategic expansion of a parent company. The parent decided to sell the division. The parent company retained Turning Point to advise the Company and determine the best options to optimize the divisions’ value to the parent.
A mid–sized iron foundry in the Upper Midwest had successfully orchestrated a business turnaround and bank credit line renegotiation through the management and guidance of the principals of Turning Point. However, the most recent economic downturn caused the Company’s monthly revenue to drop precipitously by 50-75%. The Company needed additional financing and/or capital to sustain itself during this business downturn.