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Financial, Professional & Temporary Staffing

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Financial and professional services firms operate in complex, international and highly regulated markets. Recent economic turmoil has impacted where and how some members of this industry do business, as well as their profitability and long-term sustainability.

Our Financial, Professional & Temporary Staffing Services group understands the strategic, financial and economic challenges faced by firms in this industry, and we help our clients address these challenges. Our team of experienced CPAs, turnaround specialists, litigation and forensic experts brings deep expertise and experience to clients.

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Minimizing Risks. Maximizing Value.

The Engagement

Conway MacKenzie was Chief Restructuring Officer and investment banker to this $250 million provider of human resource outsourcing solutions, including Professional Employer Organization services (“PEO”), and temporary, temporary-to-hire, or direct hire staffing in the medical, trucking, design, clerical, office administration, customer service, professional and light industrial fields. After several years of growth by acquisition, system challenges inherent in non-integrated acquisitions caused profitability to decline significantly and gave rise to liquidity problems.

Our Role

Conway MacKenzie quickly evaluated the cost structure and profitability from a location, customer and product line perspective. As such, Conway MacKenzie identified locations to combine or rationalize, implemented changes in workers compensation insurance, implemented improved processes for pricing customer contracts and, all the while, managed the company’s liquidity. Due to Conway MacKenzie’s deep understanding of the business, we were also hired to market and sell the company.

The Result

Conway MacKenzie effectively managed the company’s senior lender, acquisition note holders and other constituents as the sale process met key milestones. As a result of Conway MacKenzie’s efforts, the company was sold to a strategic buyer in an Article 9 sale.

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