Winter Harbor LLC
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Elmet Technologies, Inc.

 

Reliance Communications is a distributor of wireless devices and accessories. They have been a market leader in wireless products for more than two decades and are one of only three authorized Verizon Wireless distributors in the U.S. As a one-stop solution provider for the world’s leading wireless carriers and device manufacturers, Reliance focuses on distribution, product development and reverse logistics. Reliance generates an average of $500 million in revenue during their fiscal year.

Our Role

Winter Harbor was commissioned as Financial Advisor by the senior lenders of Reliance Communications. As the engagement progressed, our role developed into acting as a restructuring advisor, focused on recreating Reliance’s distribution plan.

  • Executed full review of financial projections and business plan.

  • Led and assisted with communications to lenders.

  • Reviewed and provided supporting analyses and advice regarding the Company’s strategic and long-term business plans (including product and business line analyses).

  • Provided advice and financial modeling for cash flow forecasting.

  • Refined forward-looking business plan and projections.

Engagement Outcome

Winter Harbor was retained to complete a business review for the senior lenders, as the Reliance Communications was facing a liquidity crunch. Reliance had over extended their credit facility with their major suppliers. In addition, Reliance was faced with the major cell phone carriers beginning to take additional sales in house, forcing Reliance to review their distribution plan. Our professionals completed and presented two assessment reports to Reliance’s senior lenders. Our assessments were referenced during development of their following year strategic business plan.