Turnaround Shareholders
We lead companies out of crisis.
As turnaround shareholders, we take over companies in difficult situations. At your side, we dedicate ourselves to implementing a systematic restructuring that will maximise the turnaround’s success for all key stakeholders. Cost-intensive consultancy work is minimised to avoid unnecessary strains on liquidity.
Turnaround Dilemma
Company evidently in a state of crisis.
Impasse?
Insufficient alternative solutions.
AL-Approach
Turnaround shareholders offering a way forward.
Benefits
A solution in the interests of all economic stakeholders.
1 Turnaround Dilemma
Company managers, shareholders, and lenders are often confronted with an impasse in a restructuring situation:
- Initial turnaround attempts have failed because they were not implemented systematically, comprehensively, or correctly.
- The current state of the business inhibits the ability to implement refinancing or transactions on acceptable terms.
- Additional shareholder funds are not available to a sufficient extent, and there is a lack of confidence in the success of restructuring measures.
- The trust between decision-makers is severely affected or no longer exists.
A "business-as-usual" approach would lead to a distressed sale or insolvency, causing material losses to all stakeholders, even though:
- Shareholders would rather avoid the reputational damage of an insolvency, the total loss of their company assets, and potential personal liabilities, and
- Lenders, at this stage, expect reduced recovery rates on their issued loans.
2 Impasse?
Conventional restructuring approaches rarely create added value for shareholders and lenders:
- Distressed sales during a crisis result in enormous financial loss, with an achievable sale price barely above the liquidation value of the company.
- Trustee models are complex to design, rarely manage to agree common goals, and result in high fees which must be borne by the restructuring process while adding minimal value.
- Restructuring management by interim Chief Restructuring Officers (CROs): few CROs succeed in making the required wide-ranging business decisions quickly and decisively. Restructurings are often delayed, reducing the chances of success.
- Poor restructuring processes are characterised by excessive external consulting costs, which increase the pressure on company liquidity even more.
3 Our Approach
AnderschLiebthal as turnaround shareholders and opportunity manager — how our approach works:
- Trustful collaboration between shareholders, lenders and restructuring experts by creating a common interest.
- Utilisation of a proven legal structure based on German GmbH-company law and established corporate governance and transparency rules.
- Tailoring of the approach to the specific requirements of the company and financial situation.
- Realisation of turnaround success after achieving a suitable transaction or refinancing capability.
- Fair distribution of the achieved turnaround success to shareholders and lenders.
- Uncompromising restructuring and decisive leadership by an unrivalled AnderschLiebthal team.
4 Benefits
A strong and proactive turnaround shareholder achieves the following goals:- Higher sale proceeds and distribution of the turnaround success through a binding mechanism defined at the beginning of the process.
- Avoidance of value-destroying and reputation-damaging legal disputes or court-ordered restructuring procedures.
- Exclusion of costly foreign jurisdictions.
- Minimisation and tight control of restructuring costs.
Our Promise to You
- We work with straightforward and transparent German structures and provide regular updates on the turnaround progress.
- For every turnaround project we deploy a team that is 100% suited to the situation — if we cannot ensure this, we will decline the opportunity.
- Effectiveness guides our actions, as we profit together with you from the success of the restructuring.
- The achieved turnaround success is fairly distributed between shareholders and lenders.