Background:National Deposition Service, the largest court-reporting company in the U.S., was formed
via the acquisition of more than 50 smaller companies across the country. Modest efforts had been made to integrate operations,
due in large part to resistance from former owners. The company's capital structure was flawed because of high acquisition prices
and an inability to reduce costs while growing revenue. As a result, the lenders had decided to sell the business and potential
buyers questioned the stability of the company.
Solution: Acquired with the cooperation of the senior operating managers in an Article 9 foreclosure
sale, National had its production operations consolidated from 20+ locations down to five and eliminated non-productive former
owners to reduce its overall cost structure.
Result: By stabilizing its operating environment and financial status, the company was transformed
from a locally focused organization to an integrated national company while growing sales from $106 million to $135 million.
