Gruppo Fantuzzi
After a three-year acquisition spree, The Fantuzzi Group, a family-owned world leader in the container handling industry, was saddled with debt and suffering from poor operational integration. Faced with the prospect of failing to make a critical bond payment, the Italian company, at the suggestion of its lenders, hired Alvarez & Marsal to assume the role of Chief Executive Officer and Chief Financial Officer to orchestrate a financial and operational turnaround. To alleviate the immediate financial crisis, Alvarez & Marsal helped renegotiate debt with lenders, secured the support of banks, and worked with Italian securities regulators and major distressed debt funds to restructure a publicly traded bond. Subsequently, A&M reorganised the Company into divisional units, hired two new divisional chiefs as well as several functional managers, to inject much needed operating talent into the organisation, and brought in a new COO who ultimately succeeded the A&M partner serving as CEO. At the same time, A&M introduced new information systems to improve financial controls, developed a three-year industrial restructuring plan to cut the cost base in the business, negotiated several transactions with the Group’s principal customers and started crucial union negotiations for the closure of a historical production plant.
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