Bridge Information Systems, Inc.
Bridge Information Systems is a worldwide distributor of financial information, which has activities in over 65 countries and over 110 companies, and combined global revenue of $1.2 billion. The Company had accumulated senior bank debt of $700 million and had a negative cash flow of $10 million per month. Alvarez & Marsal was engaged as CRO of the Group, Europe and Asia. Alvarez & Marsal installed new cash management tools and improved liquidity management, billing systems and collections. Other outcomes included reduced costs, improved collection cycle, streamlined services and selectively scaled back CapEx, which allowed the Company to achieve a cash positive position. The US business was sold to Reuters, while the European business was sold to Moneyline / Telerate. In addition, senior bank debt of $700 million - which was trading at $100 million at the beginning of the project, increased in value to approximately $500 million within 18 months.
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