Midwest Asphalt completed a $17.6 million balance sheet recapitalization with Callidus Capital. Proceeds will be used to refinance existing debt, provide additional working capital and support a bonding program.
Responding to what Wipfli managing partner Rick Dreher calls lingering concerns facing many businesses in the slow economic recovery, the CPA and consulting firm has launched a turnaround and restructuring practice under the leadership of Jeff Baker and David Steichen. Baker, who heads the practice, spent the majority of his career as a partner at PricewaterhouseCoopers, where he completed dozens of transactions in more than 20 countries. Steichen most recently served as principal of Manchester Companies, a Midwestern turnaround advisory firm. The ABF Journal catches up with Baker to discuss the new practice.