EYP Mission Critical Facilities, Inc.

Client

EYP Mission Critical Facilities, Inc. is a large architecture and engineering firm focused on protecting critical business data, communications, and power systems from failure. The Company is internationally recognized as the leader in providing design, operations consulting, managed services and engineering services for mission-critical facilities. The Company had 150 employees throughout the United States and Europe with annual revenue of approximately $25 million.

Challenge

As one of the few players in its market, the Company grew quickly during the Internet boom of the late 1990s. When technology spending and capital expenditures declined in 2000 and 2001, the Company was not able to react quickly to the changes in the market demand. The staff was under-utilized, project management processes were not optimized and corporate overhead was not in line with revenue. These events led to severe strains on liquidity.

Solution

Bridge immediately assisted the Company in negotiations with its senior lender in order to ease liquidity pressure. Bridge helped negotiate a forbearance agreement, which bought time to restructure the operation. Bridge worked closely with Company's management to develop effective operational improvements and instill a focus on project profitability and cash flow management. Bridge also assisted the Company in achieving substantial reductions in overhead costs.

Results

Operations improved substantially, and the Company has returned to profitability. The senior lender has been paid in full, and the Company is now able to solely focus on operating its business.