Company Description:

• HotlinkHR was a provider of a hosted human resources on-boarding, training and human resources compliance solution. Their product is a fully hosted solution that automates human resources tasks and assists employers in complying with federal and state requirements through forced processes.

Challenges Faced:

• HotlinkHR had developed a successful niche with West-Coast automobile dealers but was seeking to partner with a well-capitalized business software provider to expand distribution on a nationwide basis and fund additional functionality.

Solutions Provided by SOLIC Professionals:

• Acted as financial advisor and worked extensively with HotlinkHR’s stakeholder to effectively market the Company to a diverse group of potential acquirers, highlighting (i) HotlinkHR’s proprietary methodology, (ii) the demand for reduction of litigation risk, and (iii) one of the most comprehensive compliance tools in the industry.
• Successfully structured, negotiated and closed this sale transaction.

Result Highlights:

• After a competitive solicitation process, HotlinkHR was acquired by Kip Prahl Associates, LLC.

Company Description:

• Based in Atlanta, GA, Project Time & Cost, Inc. (“PT&C”) is a leading provider of cost engineering and forensic consulting services. The Company provides an extensive array of cost estimating, scheduling, project management and risk assessment services for construction, environmental remediation and nuclear facility projects and forensic engineering services in connection with losses arising from damaged property. The client base primarily consists of federal agencies that are responsible for large, complex construction and environmental projects, as well as insurance companies with significant commercial and residential property portfolios.

Challenges Faced:

• The founding partners were seeking a sale or recapitalization to provide for liquidity and estate planning.

Solutions Provided by SOLIC Professionals:

• Engaged as exclusive financial advisors to explore various capital and strategic alternatives including the recapitalization of the Company.
• Worked closely with the Company’s shareholders and management to identify various liquidity and recapitalization alternatives.
• In positioning to a diverse group of potential acquirers, successfully highlighted (i) the unique growth opportunities in providing cost engineering and forensic consulting services to the Federal government and the insurance industry, as well as (ii) the Company’s leadership position within its core markets.

Result Highlights:

• SOLIC professionals secured Hancock Park Associates as a strategic investor in PT&C, acquiring a majority interest in PT&C and providing substantial liquidity to its founders.

Company Description:

• American Cadastre, LLC (“AMCAD”) is a developer of software that automates and streamlines state and local government document recording and filing processes with three primary software platforms: Justice (Courts), Land Records, and Managed Services.

Challenges Faced:

• Shortly before SOLIC’s engagement, a notable private equity firm made a majority investment to drive growth in AMCAD’s Justice software platform. Due to unforeseen project delays and cost over-runs, the loss of a major client, and fraudulent billing practices, the Company’s financial profile quickly deteriorated, leaving insufficient liquidity to continue operating on a going-concern basis.

Solutions Provided by SOLIC Professionals:

• Performed an Initial Review & Assessment of the Debtor and provide strategic alternatives that would prevent a Chapter 7 liquidation and maximize recovery on behalf of the Lender via a sum-of-the-parts valuation/sale approach.
• Developed a list of qualified, potential purchasers of the Debtor’s assets and effectively market such assets until an asset purchase agreement is executed.
• Developed a detailed 13-week cash forecast to project and monitor liquidity through the solicitation of the Debtor’s assets.
• Served as financial advisor to the Debtor during Chapter 11 Bankruptcy process, assisting in: (i) the negotiation of bankruptcy related matters with outside constituents, including creditors and their advisors, and (ii) developing and negotiating the use of cash collateral and DIP financing.
• Facilitated an auction and sale process of the Debtor’s remaining assets during the Chapter 11 Bankruptcy.

Result Highlights:

• SOLIC professionals, in tandem with the equity sponsor, facilitated the shut-down of the Justice platform, allowing for sufficient liquidity to market the remaining businesses/assets.
• The Debtor filed for Chapter 11 protection to facilitate and consummate an asset purchase agreement to sell substantially all of the Debtor’s assets pursuant to §363 of the Bankruptcy Code.
• SOLIC professionals completed an expedited sale of the Debtor’s assets which resulted in a full recovery to the Senior Lender with excess distributions available for unsecured creditors.

Company Description:

• InfraSource Services, Inc. (“InfraSource”) was a leading provider of infrastructure services for electric power, gas, and telecommunications intensive industries in the U.S. InfraSource designed, built, and maintained transmission and distribution networks for utilities, power producers, and industrial customers. The InfraSource companies that provided end-to-end T&D solutions with nationwide resources, experience, and knowledge included Dashiell, M. J. Electric, Transmission Services (formerly Maslonka), Underground Services, Engineering (including REALTime Utility Engineers and Technology) and Blair Park/Sunesys.

Challenges Faced:

• The equity holders of InfraSource were seeking a sale or recapitalization to provide liquidity to its founders.

Solutions Provided by SOLIC Professionals:

• Served as financial advisor to InfraSource in negotiating its sale to Quanta Services, Inc.
• Previously served as financial advisor to InfraSource on the sale of one of its divisions.
• Also previously retained by Company to help grow the business through acquisitions.

Result Highlights:

• InfraSource was acquired by Quanta Services, Inc. (NYSE: PWR) in a $1.47 billion all-stock transaction. Through the acquisition of InfraSource, Quanta created one of the largest specialty contractors in the U.S., with more than $3.2 billion in revenue and a market capitalization in excess of $3 billion. With its enhanced resources, expanded geographic footprint and broader service portfolio, the combined company is well-positioned to profit from anticipated increases in spending on electric power, gas and telecommunications infrastructure.