EnviroSolutions, Inc.

Client Profile
EnviroSolutions, Inc. (“ESI” or the “Company”) is a leading vertically integrated municipal solid waste and construction and demolition waste disposal company, serving a broad customer base, including commercial, construction, recycling, and federal, state and local governments throughout the Northeast and Mid-Atlantic regions. Through a series of acquisitions and strategic expansion, ESI operates a system of modern and highly salable state-of-the-art waste disposal assets that drive cash flow growth through internalizing waste streams.
Situation
Due to the severe economic downturn beginning in mid-2007 and continuing through 2009 and exacerbated by the contraction in the commercial and residential construction markets, ESI experienced a decline in cash flow resulting in constrained liquidity. After exploring a potential sale transaction, the Senior Lender Syndicate in conjunction with ESI decided to restructure its senior credit obligations and equity. SSG was retained by the Senior Lender Syndicate to advise, negotiate and facilitate the restructuring process through a pre-arranged Chapter 11 Plan.
Solution
After exploring multiple restructuring alternatives to address the various needs of the individual members of the Senior Lender Syndicate and multiple other constituents, SSG successfully outlined a restructuring plan that provided a proper capital structure for ESI and should enable the Senior Lender Syndicate to maximize their returns.