Winter Harbor LLC

Stavis Seafoods

Family-Owned Seafood Processor Undergoes Partial Sale

 

Stavis Seafoods is a family-owned seafood processor, sourcing international and domestic products to supply to local food vendors, markets and restaurants. Stavis is located in Boston, MA and produces $200 million in annual revenue. They supply more than 100 different types of finfish and shellfish to their customers.

Our Role

Winter Harbor was engaged to assess the Company’s 2018 and 2019 financial forecast, aid in the development of a 13-week cash flow budget, and assist with the equity acquisition process. Our engagement with Stavis continued into a second phase, as Stavis sought partial sale of its business operations.

  • Assessed the Company’s recent performance and its projected financial results.

  • Determined near-term cash flows based on multiple financial scenarios.

  • Developed a 13-week cash flow schedule and weekly reporting process.

  • Assisted in the sales process and equity acquisition of the business.

Engagement Outcome

Stavis Seafoods presented our comprehensive assessment and strategic recommendations to its secured lender. With Winter Harbor’s assistance, an outside equity party purchased a significant portion of the business. Winter Harbor remained engaged until after the sale to monitor weekly cash flows and assist with a SKU rationality project which was implemented by the Company.