Holmes Protection Group Inc
DEAL TYPE : TURNAROUNDS & RESTRUCTURING •
FUND-RAISING & PRIVATE PLACEMENTS
INDUSTRY : RESTRUCTURING •
Holmes Protection Group, Inc. listed on the London stock exchange, had a debt default of approximately US$70 million to seven North American institutions. BCP provided its Chairman, Eric F. Kohn TD VR, to lead a reconstruction of Holmes Protection Group as vice chairman and CEO to oversee the implementation of a new business strategy, conservative accounting policies and elimination of substantially all of the debt. The restructuring was completed and took Holmes Protection Group, Inc. from a position of US$27 million of negative shareholder funds to US$42 million of shareholders funds within less than 1 year.