Engagement Results

Company:

Mosler Inc.

Industry:

Heavy metal fabrication and electronic manufacturing

Size:

$500 million

Expertise:

Asset management and recovery

Assignment:

Mosler Inc. was the country’s oldest bank equipment manufacturer and had completed a complex synergistic acquisition of a large competitor. The transaction was highly leveraged and therefore it was imperative that Mosler quickly realize the available synergies. MainStream was hired to facilitate this process assisting in closing down some of the acquired facilities, verification of payables, and collection of receivables.

Action:

MainStream provided a small team to find buyers for unneeded assets and to collect receivables. Receivables were especially complicated as they involved many pre-payments, installations in various stages of completion, and service contracts that were amortizing but the funds had not yet been collected.

Result:

Mosler was able to generate over $ 11 million in cash as a result of the accelerated cash generation program. Particularly worthwhile was MainStreams ability to raise $ 4.5 million from receivables that were in excess of 180 days old.