Winter Harbor LLC

Avon Automotive

Refinancing Leads to Rebranding for Avon

 

Avon Automotive Holdings is a leading international supplier of rubber and polymer engine components.  Their products are purchased by customers in the automotive, heavy truck, commercial construction, agricultural, marine, defense and railway industries.  Since completing our work with Avon Automotive, Avon has experienced revenue levels reaching $200 million.  Recently, in 2018, Avon Automotive re-branded itself under the name AKWEL.

Our Role

Winter Harbor conducted a comprehensive business assessment of Avon's current operations and distribution logistics.  By means of our assessment, we served as Financial Advisor to Avon in negotiating new agreements with existing key customers and obtaining additional capital from current equity holders.  Furthermore, our professionals:

  • Prepared assessment of Avon's existing business operations and distribution processes.

  • Performed cash & liquidity audit.

  • Developed operational and strategic alternatives to be implemented in following fiscal year.

  • Consulted Avon through a consensual, out-of-court restructuring.

  • Negotiated accommodation agreements with key customers.

  • Negotiated agreement and additional funding from existing lenders and equity owners.

Engagement Outcome

Winter Harbor was hired by Avon Automotive to perform a full business assessment and operational analysis.  Our professionals conducted a cash and liquidity audit, assessed supply and distribution logistics, and reviewed Avon’s current year business plan.  We developed operational and strategic alternatives for the upcoming fiscal year.  Our implemented recommendations included: negotiating accommodation agreements with primary customers, negotiating funding from existing equity holders, and guiding Avon through an out-of-court restructuring.  Our work and the additional capital received from lenders allowed Avon to rebrand under a new name, AKWEL, in 2018.