USI Services Group, Inc. – This privately held, family-owned business provided a range of services including janitorial and facility maintenance, as well as security and landscaping to retail chains, shopping malls, and other commercial venues and complexes. A failed self-insurance program crippled cash flow and the subsequent tax liabilities that were incurred as a result forced the company to file chapter 11.
SC&H Capital ran an exhaustive marketing process and solicited offers from multiple parties. At the auction, bids were negotiated to improve terms and price and the company chose to sell the security and facility management entities to SecurAmerica. The landscaping and snow removal entities were sold separately to The Doshi Group. Both buyers were intimately familiar with the businesses and after a quick closing, operations continued without interruption. Employment for almost 1,800 individuals, including senior management was secured and recovery for the estate was maximized.
