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July 2014
Our Bird's Eye View
 
At Brandlin & Associates, our work provides a bird's eye view of the middle market's likes and dislikes.  The variety of engagements we worked on in the first six months of 2014 was perhaps the widest ranging of any period during our 30+ years in business:  pre-investment due diligence, fraud investigations, workouts and restructurings and financial consulting.  
 
What does that mean for debt & equity capital providers and companies seeking growth capital?   
Specialty Lenders are Fueling Corporate Growth:  We increasingly are getting calls from specialty lenders to provide quality of earnings analyses for senior debt financings.  By filling the void left by banks after the 2008 financial meltdown, the specialty lenders are demonstrating that middle market companies are a good place to invest - especially as the senior secured lender. 

Our recent engagements for specialty lenders include:  

Electronic Sign
Electronic Sign Company
Quality of Earnings Analysis
Bank Debt Refinancing
Engine Parts OEM 
Quality of Earnings Analysis
Bank Debt Refinancing

Oil Field Services Company

Forensic Investigation
Banks Continue to be Selective Lenders:  We are used to working with banks' special assets departments.  Lately, we also have been invited by bank credit departments to augment the work of their in-house auditors, both for existing portfolio companies and in advance of new commitments. Banks' heightened level of due diligence is a worthwhile trend. 
Our recent engagements for money center and regional banks include:  

Oil Pipe Tubing OEM

Pre-investment Due Diligence

Acquisition Financing 

Heavy Equipment Battery OEM

Portfolio Company

Forensic & Collateral Investigation and Audit

Recycling Center

Portfolio Company

Forensic & Collateral Investigation and Audit
Private Equity Remains Cautious:  The storyline for private equity funds and fundless sponsors remains consistent, based on our recent engagements.  Those companies with the highest value-add products and services are popular, while strategic acquirers maintain their advantage in many industries.  
Our recent engagements for private equity firms include:  

Commercial Electronic Systems

Quality of Earnings

Pre-Investment Due Diligence 

Avionics Display OEM

Quality of Earnings

Pre-Investment Due Diligence

Specialty Beverage Company

Portfolio Company

Financial Review & Advisory
Work-outs Can Work Out; Litigation Can Pay-off:  Fraud always has been, and always will be, a concern for lenders and private equity.  We continue to get calls to provide forensic investigations when something seems amiss, and often stay involved to advise during workouts and provide litigation support as necessary.
Our recent and on-going engagements related to fraud, bankruptcy and workouts include:    

Mixed-use Real Estate Development

Ch. 7 - Forensic Investigation & Expert Witness for Counsel

Construction Services

Trust Advisory for Lenders During Restructuring

Portfolio Company

Forensic Investigation & Litigation Support for Counsel
About Us:  Brandlin & Associates is an exclusive provider of accounting due diligence, financial consulting and strategic consulting services. We pride ourselves on offering superior technical expertise, years of practical experience and unparalleled service to decipher financial and operational performance metrics. As a result, our clients are able to make informed decisions in a timely manner.
We look forward to speaking with you soon.


310.789.1777