Winter Harbor LLC

Highlights for Children

 

Highlights for Children (Highlights) is a publisher of children's educational material available through print, digital, lecture and other various platforms.  Initially created for children in early childhood, Highlights has successfully expanded their family of products to include ages starting at birth, up to age 12.  Additionally, Highlights has continued to diversified their products, now offering their magazines, books and games in 16 languages and in 40 countries.  Winter Harbor contributed to Highlight's product expansion by helping to obtain additional capital from private investors.  Since our partnership, Highlights generates over $170 million in revenue each year.

Our Role

Winter Harbor served as Financial Advisor to Highlights as they sought capital to expand business operations.  We worked to:

  • Assess the Company's historical performance and its projected financial results.
  • Determine near-term cash flow based on various financial scenarios.
  • Negotiate a new loan agreement and seasonal overadvance with lender.
  • Report weekly cash flows in relation to the projections and submitted weekly reports to the lender during the loan amendment period.

Engagement Outcome

During our engagement, Winter Harbor successfully negotiated a new loan agreement with the bank lender.  In addition, we recommended several operational-improvement initiatives to enable the achievement of Highlight's annual budget and reduce business risk.