The confidentiality of our clients is Panakos Partners' priority.
The nature of engagement for some of our clients and services provided are inherently sensitive. For this reason we have focused on the types of services provided and left out necessary information to protect the our client's confidentiality. If you would like additional Information on any of the case studies below please feel free to Contact Us directly for more information.
- Start Up
- Turnaround Management
- Corporate Restructuring
- Investment
Type of Engagement:
Corporate restructuring and formalizing of operating policies and procedures. Based on close observation of leadership activities evidence suggested need for formalizing individual management responsibilities the results of which ended up in mediation and conflict resolution.
Business Identification: (Confidential)
- Business Activity: Military Contractor – San Diego, CA
- Primary Industry: Government contracting, at a high security level, for the delivery of products and services instrumental for defense operations.
Case Situation:
While company has been in business for over forty years new ownership of four years were not able to effectively run the business together resulting in sales remaining static and profits materially reduced over the period of their ownership.
Objective of Assignment:
- Bring visibility to financial operations
- Establish operating procedures
- Reconciliation of ownership problems
Scope of Work Performed:
As is the policy of Panakos Partners, work began immediately along side of management and its operating personnel. The team evaluated the business including the expectations of the stakeholders. Changes in operations were effected as soon as senior management became aware of the problems. New plant facilities were outlined and completed so as to improve the potential for operational efficiency. As the need for a fair resolution between the stake holders became obvious, including its less then useful effect upon the company, a plan of action was instituted to restructure the company while mitigating the damage to the business and its potential for expensive legal costs.
Services Provided:
- Completed review of operations
- Hired Accounting Supervisor
- New Credit Card Merchant Processing
- Completed Valuation of Business
- Operations oversight during period of partnership resolution
Results of Engagement:
Financial operations run smoothly with correct financial statements produced within ten days after monthly accounting period is completed.
Completion of the education and training of operating personnel has resulted in effective and smoother production capability, along with improved quality control and production management activities.
Type of Engagement:
Brought in by management to prevent the closing of the company by its primary lender who lost confidence in the company’s ability to repay million dollar loan.
Business Identification: (Confidential) Manufacturing – San Diego, CA
- Industry: Military and Sporting Diving suits diving suits.
- Business Activity: Producer of a line of high grade “dry” diving equipment suits.
Case Situation:
Due to inability of company to get paid on a large Account Receivable due from the US Navy, methods had to be devised to keep operating the company on limited cash until such time as problem was resolved with the military vendor.
Objective of Assignment:
The first objective was to bring visibility to the financial operations to a point where bank had confidence in financial reports. The second objective was to begin to establish operating procedures that would systematize the business so production could happen in an orderly manner.
Scope of Work Performed:
As is the policy of Panakos Partners, work began immediately along side of management and its operating personnel. The team evaluated the business including the expectations of the stakeholders. Defects in the outstanding Naval contract were corrected along with revised job orders issued by the Navy resulting in large A/R being paid.
Services Provided:
- Reviewed staffing requirements requiring personnel reductions
- Installed new accounting manager and changed software system
- Opened up new bank relationship and increased line of credit.
- Hired new sales manager and developed new marketing materials.
Results of Engagement:
Stopped close down of a diving equipment company by Union Bank whose large amount of accounts receivable were to be paid by the US Navy. Was able to work out cost reduction programs including reduction of highly paid staff. Research indicated that market for their high-end product had a basic cap and worked on getting sales as close to the cap, and more importantly at a profitable level. Fifteen years later, company is still in operation being run by second generation family.
Type of Engagement:
Determine viability of business.
Business Identification: Frazee Flowers
- Business activity: Growing flowers for sale to Wholesalers and Retail Florists.
- Primary Industry: Commercial flower growing business
Case Situation:
Company had been in business for sixty years but was not able to generate any profits due to ever increasing costs fro land rental, cost of waster and labor.
Objective of Assignment:
- Effectively grew inventory of flower bulbs into products for sale.
- Business decision to gradually close business down.
Scope of Work Performed:
As is the policy of Panakos Partners, work began immediately along side of management and its operating personnel. The team evaluated the business including the expectations of the stakeholders. A detailed plan was developed as what flower bulbs to plant to meet the seasonal flower industry demands ( Valentine’s day, Christmas, etc.). Through this process most of the asset were turned into cash available for payment to debtors.
Services Provided:
- Operate business to achieve cash goals why closing down business.
- Constant negotiations with land owner and vendors during business close down process.
Results of Engagement:
Business owner was able to withdraw from business with a minimum of financial liability including loans from family members being paid.
Type of Engagement:
- Primary: Financing
- Secondary: Business Plan / Project Management
Business Identification: (Confidential) San Diego, CA
- Business Activity: Early Stage software development company
- Primary Industry: High Tech, Online Marketing
Situation:
The company was developing a software platform to capitalize on high-growth social networking channels by creating single source, state-of-the-art web environments that encourage participation and recurring visits. The company required funding and assistance developing the business model and project management of its early stage software programs and website platform.
Scope of Work Performed:
The team refined the business model with key management and provided the necessary research and feasibility studies for support. Thereafter, investment-grade marketing materials were produced ranging from the business plan, PPM, teasers, and supporting documents required by accredited investors. With investment capital, the team provided experts to help develop and implement the project plan needed for phase one development of the software platform and provided interim management to fill the corporate management gaps necessary for success.
Services Provided:
- Feasibility Study & Market Research
- Investment Grade Business Plan
- Private Placement Memorandum (PPM)
- Presentations and Marketing Kit
- Deal Structure & Investment Vehicle
- Project Management Services
- Company Services & Support
Results:
The Company was successful in raising funds for early stage development.
Type of Engagement:
- Restructure Accounting and Financial systems.
- Review personnel needs.
Business Identity: Ivan’s Meats
- Business activity: Exporter of Food Products
- Primary Industry: Export meat products not typically consumed in US.
Case Situation:
Lender did not consider company financial information satisfactory.
Objective of Assignment:
- Establish accounting controls and procedures.
Scope of Work Performed:
As is the policy of Panakos Partners, work began immediately along side of management and its operating personnel. The team evaluated the business including the expectations of the stakeholders.
Necessary to evaluate management structure in order to define duties of executive and operating personnel.
Completed work on installation of new accounting software system.
Services Provided:
- Reorganized accounting department and installed new Controller.
Results of Engagement:
Created better relationship between bank and the company due to improved financial controls.