client_transactions

SSG Client Transactions

Title

The Protective Group, Inc.
Client Profile

Client Profile

The Protective Group, Inc. ("TPG" or the "Company") is a market leader in the development of lightweight composite armor solutions. Over its 40 year history, the Company has provided state-of-the art armor solutions for personnel, ground transportation and helicopters. TPG enjoys an industry wide reputation as a systems integrator and industry leader in its products, which are recognized for their reliability, innovation and durability. As a result of its broad product suite and deep market penetration in the defense industry, the Company has become the lightweight aircraft armor solutions provider of choice for its customer base.
Situation

Situation

In 2008, the Company successfully developed and introduced the next generation of U.S. Military Body Armor, and was awarded a five year contract by the U.S. government. However, the government made material testing and procurement changes to the program and after careful consideration by TPG's senior management, the Company ultimately decided to exit the program. This decreased the Company's top line revenue, which negatively impacted the Company's EBITDA and constrained liquidity. As a result, TPG's lender entered into forbearance with the Company.
Solution

Solution

TPG engaged SSG in August 2010 to advise in negotiations with its lender and equity sponsor to facilitate a solution for TPG, the lender, and the equity sponsor. After exploring multiple restructuring alternatives to address the various needs of TPG's stakeholders, SSG successfully outlined a restructuring plan that provided a proper capital structure for TPG to enable the Company to successfully execute its go-forward plan and provide adequate liquidity.
January 2011
Recapitalization and Restructuring of
to restructure existing debt and equity and provide working capital
The undersigned acted as Investment Banker to ,br /> The Protective Group, Inc. 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.

Philadelphia
(610) 940-1094

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(212) 786-7432

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