Second Wind Consultants facilitated an eight times recovery for Byline Bank through an Article 9 restructuring of a Texas-based ophthalmological testing and research facility.
Through the restructuring, Byline Bank avoided the formal liquidation of the facility, which conducts clinical trials for national healthcare insurers and providers. In addition, through Second Wind’s transaction, Byline Bank recovered an 8X multiple of asset valuation through an Article 9 restructuring and sale of assets to Mast Capital Advisors, a Houston-based investment and advisory firm. The going concern transaction preserved the jobs and business operation of the facility while avoiding a personal bankruptcy for the previous owner who secured an employment agreement and is serving in an operational role within the new company.
