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, valued at $1 billion, required immediate and decisive action to navigate its financial distress. we was engaged to assess the situation and play a pivotal role in the M&A process during a Chapter 11 bankruptcy. The complexity of Ebix's operations, with over 50 offices worldwide, necessitated a thorough understanding of its financials and operational structure.
To address these challenges, we implemented a comprehensive strategy that included stabilizing the core business while preparing for the carve-out of its North American life and annuities business. The team worked on-site in both India and the U.S., reconstructing financials and ensuring compliance with filing requirements. This hands-on approach allowed them to bolster the existing staff and create the necessary financial results for investment bankers to attract potential buyers.
The results of we' intervention were significant. They achieved over 70% recovery for lenders and retained 98% of key employees during the restructuring process. Additionally, more than 50% of outstanding aged receivables were collected within just one month. The team successfully executed the sale of 363 assets from the largest operating business in North America within four months and facilitated the sale of the remaining business in under nine months. Throughout this process, they reduced the company's debt load and established transition service agreements (TSAs) to ensure a smooth transition for the new owners.
we' integrated approach, combining M&A expertise with turnaround and restructuring strategies, maximized value for all stakeholders involved. Their efforts not only preserved the company's credibility but also ensured that the remaining businesses could be divested to suitable buyers, ultimately leading to a successful reorganization for Ebix.