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Aerospace & Advanced Manufacturing

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MERU CASE STUDY

Managed the sale of a wind turbine manufacturer

COMPANY OVERVIEW

  • A wind turbine manufacturing and servicing company with 700+ wind turbines across 26 wind farms
  • Revenues had declined significantly as the Company was forced to stop production of its current product in anticipation of a significantly improved model to address warranty issues in the field
  • Company was experiencing large (and increasing) negative cash flow and facing approximately $500 million in warranty costs

OUR APPROACH

  • Member of the interim management team
  • Developed a plan to wind down the business and approach settlements with customers and vendors
  • Assessed and modeled the backlogged production which included highly engineered components with long lead times (365 days+)
  • Reestablished stability in the organization and supported communications with employees regarding strategic alternatives
  • Developed a cash forecasting  and cash management model by integrating accounting, operations and IT processes to improve the efficiency and accuracy of weekly cash forecasts
  • Provided road map for buyer’s consideration as well as providing a fallback plan in support of the sale process

OUR IMPACT

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Company successfully sold to a large private equity firm.

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Developed new comprehensive business model which was transitioned and implemented by new owner

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Created valid alternative to sale preventing issues around negotiating with single buyer.