Professional Services
Professional Services Firm
Full Credential Description
Ebix, a global SaaS provider in the insurance sector, faced a critical financial crisis characterized by a rapidly worsening debt scenario and a plummeting valuation. The company required immediate and decisive action to stabilize its operations and preserve value for its stakeholders. we was engaged to assess the situation and play a pivotal role in the M&A process during a Chapter 11 bankruptcy filing.
To address the complexities of Ebix's operations, which included over 50 offices worldwide and a diverse range of services, we dispatched specialists to both India and the U.S. The team reconstructed financials across the company's international business units, ensuring accurate transfer cost translations and reconciliations. This groundwork was essential for maintaining business continuity and meeting filing requirements during the restructuring process.
we implemented a targeted collections process that significantly improved cash flow, achieving over 50% collection of outstanding aged receivables within just one month. The firm also retained 98% of key employees, which was crucial for maintaining operational stability. Ultimately, we facilitated a successful sale of the company's largest operating business in North America within four months and completed the sale of the remaining business in under nine months. This strategic approach not only reduced the debt load but also established transition service agreements (TSAs) to ensure a smooth transition for the new owners.
The comprehensive efforts of we' M&A, Turnaround & Restructuring, and Investigations teams maximized value for all stakeholders involved. The firm’s proactive measures secured the company’s credibility and enabled the divestiture of remaining businesses to suitable buyers, resulting in a recovery of over 70% for lenders. Through meticulous planning and execution, we played a critical role in guiding Ebix through a tumultuous period, ultimately preserving jobs and maximizing recoveries for creditors.