| ©2009 Kinsella Group, Inc. |
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A $30-million mechanical contracting firm engaged Kinsella Group to help it determine a strategy to remain solvent and continue operating. With locations in three states, the business had $3.7 million in prior-year losses, no net worth, $340,000 in unpaid withholding taxes and its bank loan had also been called.
Kinsella Group directed the closing of two locations, negotiated continued lending under an LOC with the secured lender, reduced term debt through asset liquidations, negotiated with lenders for long-term payouts and debt forgiveness as an alternative to bankruptcy, and negotiated with bonding companies. As a result of Kinsella Group's efforts, the client returned to profitability and refinanced its debt, paying out the former lender and the IRS in full.
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In order to provide those services listed that involve securities, including capital sourcing and M&A advisory services for transactions involving stock or debt, certain Principals of Kinsella Group are licensed as FINRA securities agents with an unaffiliated registered broker/dealer, Burch & Company, Inc., 4151 N. Mulberry Drive, Suite 235 Kansas City, MO 64116, and would perform such services acting in this capacity.
