Endurance Partners (EP) is an investment vehicle focused on providing liquidity solutions and operational improvement to Spanish small and medium sized enterprises (SMEs) suffering financial dislocation through:

  • Immediate fund drawdown capacity and agility throughout the entire transaction (capital increases, profit participating loans, or other financing solutions), reducing impact on operations in the short term and maximizing the company’s long term potential
  • Experienced Executive Team in the SME corporate segment (operational improvement and restructuring), finance (private equity funds, M&A), and legal/ tax/ labor and strengthening of the Management Team with top-notch experienced professionals in the sector of the acquired company and/or the function that they will lead
  • Hands-on Advisory Committee composed of six professionals with more than 15 years of individual experience in: law, private equity, crisis management/ turnaround/ refinancing, and comprehensive experience and knowledge at both Spanish and international levels

  • Area of Activity
  • Investors in Companies under Bankruptcy protection
  • Company type
  • Turnaround Investments
Headquarter
C/ Muntaner 240, Pral 2a
Barcelona, Barcelona 08021, ES
P: +34932020579
E: info@endurance.com.es

EP's team is composed of an Executive Team, Advisory Committee and Support Structure that enable the efficient and agile resolution of the challenges on the Operational, Financial and Legal-Process fronts that companies face in a turnaround process

INVESTMENT CRITERIA

EP invests in companies:

… with solid business fundamentals:

  • Sectors that are sustainable in the future, excluding real estate, financial related sectors, and those with significant technological risk
  • Sales figures that are stable and higher than €5mn (realizable potential or peak sales considered)
  • Capacity/ potential to export to international markets in the near future, with headquarters located in Spain

… experiencing difficulties in cash flow generation and/or balance sheet:

  • Liquidity/ cash flow stress (misalignment of cash sources and uses, with new money required)
  • Restructuring of balance sheet required to prevent that financing dislocation impacts on core business activity (e.g. deterioration of commercial terms with suppliers and/or clients) and to business solvency in the medium-long term
  • Operational restructuring situations, as for example, segregation or segment carve-outs, in "Concurso de Acreedores" (Spanish legal code for governing Reorganization under Bankruptcy – similar to US Chapter 11)

TURNAROUND MANAGEMENT

Leadership of EP's team in turnaround management focused in:

1. Short term financial and legal management
Stop the emergency and deterioration – Stabilization of cash flow and legal/ process situation

  • Information exchange, communication and negotiation with main stakeholders (financial institutions, suppliers, clients, partners, etc.)
  • Financial stress management (weekly cash flow design and monitoring, supplier payment management, client collection plan, etc.)
  • Legal and Process alternative evaluation (legal, tax, audit and labor team involved in the deal)
  • Balance sheet and cash flow rebalancing through injection of funds for working capital and/or other requirements up to €2mn

2.Short and medium-term operational rationalization
Operational stabilization and Action Plan to unlock company's potential

  • Action prioritization according to importance/ impact and urgency
  • Design and implementation of a credible and feasible Action Plan to stop emergency and unlock company's full potential
  • Strengthening of Management Team with sector expert(s) in operations/ commercial activities and/or operational reorganization/ improvement functions
  • Development of an urgency and value creation culture/ mindset
  • Short term operational improvement projects (e.g. fixed asset and/or human resources rationalization, alignment of operations and strategy)

3.Long term operational and financial management (LT)
Develop mechanisms for long term control and growth

  • Development of projects and teams to materialize potential (e.g. optimization of client profitability and volume, margin enhancement, product mix, etc.)
  • Design and implementation of a LT financial and operational structure aligned with company's requirements (e.g. LT financial growth debt structure, export team development, tax optimization, etc.)

Spanish small and medium sized enterprises (SMEs) suffering financial dislocation

Endurance Partners