Results

Turnaround of the Year: $50,000 appraisal, $2.4 million sale

A Chapter 11 business had assets appraised at $50,000. Dale led the engagement for Platinum Group and reported directly to the bankruptcy trustee. He led the financial analysis and saw that the company was worth more as four separate businesses. He then directed the accountant the trustee brought in on which financial statements to build for each one and what they needed to show the companies most likely to buy it.

Dale identified and approached those buyers, ran the data room, met with each prospect and negotiated proposed prices. He presented the options to the trustee, who closed all four sales for $2.4 million, 48 times the appraisal. Jobs were preserved. The work of the trustee, from Stinson LLP, and Dale won Turnaround of the Year from the Turnaround Management Association’s Minnesota chapter.

Buy side: acquiring a 113-year-old family business

We represented the buyer, a U.S. subsidiary of Easy Holdings, a publicly traded Korean company with about $2 billion in annual revenue and sales in 65 countries. As part of a three-person Platinum Group team, we identified and researched prospects, initiated contact with the seller, brought the parties to the table and built the seller’s interest in moving forward. The client acquired Furst-McNess, a 113-year-old, family-owned livestock feed and nutrition company with about 300 employees and 12 facilities. Read the news release →

Sell side: protecting the value of one of Iowa’s largest family-owned feed mills

We represented the family that owned one of the largest remaining family-owned feed mills in Iowa as it sold the business to two buyers. To protect the value of what the buyers were acquiring, we developed and carried out the communications plan: who heard what, from whom and when, from key employees, grain suppliers, lenders and vendors to every employee at both locations and all customers. Messages were coordinated with both buyers so employees and customers understood why the business was being sold and how they would be taken care of.

Acquisitions and partnerships

Over seven years at Platinum Group, we researched and analyzed companies for clients, then helped them buy or partner with the right ones.

Machine shop: refocused on its most profitable work

A respected machine shop was taking on break-even and money-losing contracts. Our analysis showed which work made money. The shop dropped the losing contracts, focused on its most profitable work and largest customers and started regular internal updates.

Brewery: a 25% growth plan, put into action

We analyzed the brewery’s numbers and identified what was holding back its growth and margins. We built a plan to grow annual revenue 25% and began carrying it out with the owners, including adding a chief operating officer. The brewery was on track until COVID halted the progress.

City approval for a project facing denial

A developer’s project was headed for a “no” that would have closed two businesses. We found the underlying objection, built a data-backed case around the city’s priorities and reframed the proposal. It passed, and both businesses stayed open.

A 50/50 ownership fight

A CEO who owned half of a family business faced a control battle with his brother, who owned the other half. We advised him on what to tell customers, employees and family, so the dispute didn’t damage the business while it was resolved.

A CEO under public and legal attack

A CEO and his company were attacked publicly and in court. We restored their reputation, protecting the customer and business relationships their revenue depended on.

An iron mining company’s media standing

In an industry where public perception affects permits, financing and community support, an iron mining company’s reputation with key media outlets had slipped, and the perception problem was affecting its ability to get permits from the state. We repaired and improved it.