Negotiation with OEM Customers for $100 Million Automotive Supplier Under Accommodation Agreement
While working for a major regional bank, the Inglewood professional led the negotiation involving the bank customer who was a $100 million sales, tier 1 sole source automotive supplier and its major OEM customers. Prior to our involvement, the supplier had lost significant cash during a disrupted plant expansion, and parts had to be air shipped to Detroit to meet customer production needs. The lender agreed to lend additional funds under formula and negotiated time and support from OEM customers through a pre-negotiated bankruptcy and access and accommodation agreements. Bankruptcy was averted, production normalized, and the lender was refinanced with payment in full within a 6 month period. Over a year later the COO told the Inglewood professional that the business would not have survived without her involvement, especially her active communication with the OEM customers.