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BACKSTORY: A holding company with a legacy in the aerospace industry dating back nearly 80 years, this organization’s portfolio companies produce niche parts for airlines and other plane owners.  

PROBLEM: The reputation and future prospects of one of the companies was beyond repair, impacting operations and requiring a bankruptcy protection filing.

SOLUTION: TAP performed a “bolt-on acquisition” as a means of rescuing the company and restructuring the outstanding loan facility. Additional corrective steps included:

  • Assimilating management teams and assigning responsibilities post-acquisition
  • Securing multi-year contracts with some of the industry’s blue-chip performers
  • Providing on-site accounting, reporting, and human resources expertise
  • Creating internal sales processes that incentivized employees and eliminated the need for significant numbers of sales representatives

As a result of these changes, the company recently received a third-party valuation of $15 million.

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