Winter Harbor LLC

Matrix Service Company


Matrix Service Company is a publicly traded enterprise with 35 years of experience designing, building and maintaining critical infrastructures for clients throughout the U.S. and Canada.  Matrix Service serves customers across the construction, engineering and energy industries, managing capital ventures and ongoing repair and maintenance projects.  Their service portfolio includes construction of tanks and terminals, heavy turnarounds, onsite maintenance and repair, advanced chemical and industrial cleaning and installation management.  Matrix Service takes on projects up to $500,000, generating annual revenue of $700 million.

Our Role

Winter Harbor was engaged by Matrix Service Company to service as Chief Restructuring Officer as they sought to complete a firm-wide reorganization.

  • Developed a comprehensive restructuring plan for senior management to implement.
  • Oversaw refinancing negotiations between Matrix Service and their senior lender.
  • Negotiated supplier agreements.
  • Performed liquidity planning.
  • Divested non-core assets.

Engagement Outcome

During our engagement with Matrix Service Company, Winter Harbor served as Chief Restructuring Officer, conducting a full-business assessment and developing a restructuring plan for senior management to comply with.  As part of the reorganization process, we guided Matrix Service through the refinancing process, securing capital to support Matrix’s evolving business operations.  We led price negotiations with key supply vendors and divested non-core assets.  Since completing the restructuring process, Matrix Service Company has increased its equity value fivefold.