client_transactions

SSG Client Transactions

Title

Premier Care in Bathing
Client Profile

Client Profile

Premier Care in Bathing (“Premier” or the “Company”), is a leading provider of bathroom mobility solutions, primarily in bathing, designed to address the growing needs of the aging, obese and disabled populations. The Company manufactures, markets and installs specialty bathing equipment such as walk-in baths, easy-access showers and a range of accessories and special features for consumers with reduced mobility.
Situation

Situation

The Company’s revenue cycle begins with investments in marketing to generate leads through television, internet, print and direct mail advertising. A subset of these leads is then converted into an appointment by the Company’s in-house call center and then a sale by the field sales team. In 2011 and 2012, the Company was investing heavily in print marketing which had positively contributed to the Company’s performance in FY2012. The Company was slow to reallocate its marketing spend to the internet and direct mail channels when the effectiveness of print started to decline. As the Company faced liquidity issues due to the resultant margin compression, marketing spend was curtailed and profitability further deteriorated. In response, the Company cut unnecessary overhead costs and reallocated marketing spend to the channels that yielded more attractive returns. Despite these efforts, Premier’s liquidity position remained constrained, causing the Company to default on its debt obligations.
Solution

Solution

Premier retained SSG as its exclusive investment banker in November 2015 to explore strategic alternatives including a refinancing or sale of the Company’s existing indebtedness or a sale of the Company. SSG conducted a comprehensive, discreet marketing process, soliciting offers from a broad universe of both financial and strategic buyers. Blackstreet Capital ultimately put forth an offer that provided the highest value to the Company’s stakeholders. The transaction was effectuated through a sale of all of the Company’s outstanding debt and closed in March 2016.
March 2016
and its affiliates have sold
all of their outstanding debt to
Premier Care Holdings, Inc.
The undersigned acted as Investment Banker to
Premier Care in Bathing (TM) on this transaction

Call to learn more

Call to learn more

If you would like to learn more about this transaction, or any of our transactions, call us today.

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(610) 940-1094

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(212) 786-7432

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