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Abraxas Group recently completed a successful restructuring and turnaround of a private equity backed middle market company. This engagement again highlights the value of our focus on transformational leadership.
The company, an industrial services company with a nearly 40-year history, was successfully guided through an out-of-court restructuring and a dramatic turnaround was completed, with performance on track for a $6MM increase in EBITDA (YoY).
The speed and scope of this outcome, and the value creation that resulted, proves our market thesis that an empowered change agent can drive radical value creation in troubled companies.