Smart strategies. Proven Results.

Briggs is an advisory firm providing value at every juncture of a company’s life cycle. We advise companies on capital and debt structures, and provide interim financial management, executive management, crisis management, and restructuring services.

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Briggs Management Partners (BMP) understands the impact of challenges confronting management that need rapid response. Our seasoned Partners specialize in advising, restructuring and repositioning companies facing difficult circumstances that require immediate action. We have stabilized firms across various industries and in the process developed growth and exit strategies that have resulted in dramatic positive swings in cash flow and valuation for our clients.

 

Our Partners have held the full suite of C-level positions ranging from Controller, Chief Financial Officer, President to Chief Executive Officer among others. We work with companies in a variety of industries from smaller firms with annual sales of $20M to larger firms with annual sales of $200M and above. We are pleased to share examples of our history of success in manufacturing, distribution, defense, business services, and many other industries. We are well networked in all levels of the financial community including senior, mezzanine and specialty finance lenders serving firms with various capital needs such as Private Equity Firms or Family Offices.

INVESTMENTS

 

BRIGGS Management Partners (BRIGGS) invests in middle market companies that are experiencing growth, transition or financial/operational difficulty. While we consider investments in many industries, our primary focus is on middle market Consumer Product Goods, Aerospace and Defense companies.

"In crisis, you should make your decisions with 80% certainty - if you wait for 100% certainty it’s too late!"

- Michael Winer, Managing Director
Recent Case Studies
Aerospace & Defense company

Scenario

 

A $100M+ 3-division defense and aerospace manufacturer had broken production, operations and accounting processes resulting in over $14M in losses. Individual divisions had no autonomy, and cash management was performed at the corporate level.

 

Additionally:

  • Inventory turns were dangerously low, tying up critical cash resources
  • Production management was haphazard
  • Manufacturing overhead was ignored in costing calculations
  • Government and commercial customers were severely fatigued from late deliveries
  • Vendors were reducing shipments and refusing to ship critical manufacturing materials
  • The company’s credit facility (secured with substantially all of the real property) was in technical default, and the senior lender was considering foreclosure proceedings

 

As a result, the financial sponsor was forced to take a $25M+ “mark to market” write-down.

 

Action Taken

 

BMP partners took on the CRO and CFO roles, and established new production management and processes, sold off excess inventory generating much needed cash flow, developed a manufacturing COGS forecast including forecasted purchases, renegotiated terms with fatigued vendors (obtaining 60-day terms in some instances), and returned all customer shipments to agreed-upon schedules.

 

Result

 

In one year, the company went from losing $14M in EBITDA to generating $5M+ in EBITDA. One division was sold, and the senior lender and financial sponsor were able to bring their entire investments back onto their balance sheets.

Home Healthcare Agency

Scenario

 

One of Virginia’s largest home health care agencies with over 3,000 employees was trending negative and financial reporting was in disarray.

 

Action Taken

 

BMP retained outside auditors and hired additional interim management. Financial reporting was restructured, workforce assessments and reductions were implemented, and the company was positioned for sale.

 

Result

 

The company was successfully sold to a Private Equity fund.

Winning at Entrepreneurship

by Rod Robertson, Managing Partner, Briggs Capital

Winning at Entrepreneurship

The first year of business ownership can be treacherous and the entrepreneur must understand the pitfalls! For most all of us, we have one shot at the winner’s circle of business ownership and this easy to read road-map provides you with truly up to date professional advice and knowledge from a top industry leader. Whether you're a novice first time buyer or an experienced entrepreneur, you will receive the latest tips and techniques on how to present yourself to the marketplace, raise cash, understand how to value a business and structure a deal to your advantage.