Mastery Education (d/b/a Peoples Education) is a publisher and marketer of educational materials available in printed and digital formats for the kindergarten through 12th grade school market. It offers supplementary educational materials for test preparation, assessment, instruction and general readings across various content areas. Their materials are available to schools through several medias such as print, audio, software and video. Peoples Education now operates under the business name, Mastery Education.
Peoples Education was operating under a forbearance agreement from its current lender, and required capital to pay a significant amount of past-due accounts payable owed to key vendors.
SCOPE OF WORK
Winter Harbor was retained as financial advisor, focused on determining the most suitable restructuring strategy for the organization.
Assessed the Company’s recent performance and projected financial results, presenting our findings to secured lender.
Projected and managed weekly cash flow for the Company, evaluating the Company’s potential debt capacity in light of its projected cash flows.
Assisted the Company with the due diligence process and negotiations with potential lenders.
Created the information memorandum to seek new or additional financing and distributed to multiple lenders.
Advised the Company in evaluating potential capital market transactions of public or private debt offerings, including contacting potential sources of capital.
Rendered financial advice to the Company, and participated in restructuring discussions with its bank and additional stakeholders.
With our assistance, Peoples Education was able to refinance its debt with under a new banking relationship. This lender assumed 100-percent of the Company's existing debt at a discount. As part of its restructuring plan, the Company underwent a complete rebranding.