Recore - Getting the job done

Results through leadership

Our core business is underperforming business where we orchestrate implementation together with our clients providing lasting changes and getting their enterprises fast back in business. A significant value creation factor is balancing the stakeholders’ interests.

The Recore concept is well suited also to maximize value from non-core businesses and adds significant value independently of workouts being done on or off the balance sheet.

Experience shows that underperforming and non-core businesses frequently take up a disproportionate part of a company’s driving energy. The Recore teams free up management resources.

Selected reference cases

1. Financial and operational restructuring with CFO/CRO team

Industry: Mining
Company size: Large state-owned
Challenge: Declining market prices, increasing operating cost, negative cashflow and high management turnover.
Solution: Downsized production, improved cash and cost control, and successfully refinanced operation.
Impact: Company avoided bankruptcy and break up, and established a platform for re-positioning the company for the future.

2. Debt restructuring

Industry: Petroleum sector
Company size: Large international
Challenge: Refinancing bank and bond debt at several levels in the corporate structure of a business turning over approx. NOK 100 billion.
Solution: The business was successfully refinanced with new debt and equity. Represented the bondholders at the parent company’s Board observing the process of refinancing and the company’s operations.
Impact: Bankruptcy avoided and the entire group refinanced yielding continuation of businesses with a healthier balance sheet.

3. Comprehensive work out with equity stake

Industry: Engineering & Construction
Company size: Large and listed
Challenge: To maximize stakeholder value through lasting solutions to legacy issues and realization of operational companies and other assets in a group consisting of 256 legal entities.
Solution: Work out of entire group (off the balance sheet) by competent and dedicated management team including a Management Buy Out.
Impact: All operational businesses and assets realized at favourable levels and with new committed owners, and to date almost all legacy issues solved.

4. Financial and operational restructuring holding major C-positions

Industry: Automotive
Company size: Large and listed
Challenge: To avoid bankruptcy and discontinuity of several industrial entities.
Solution: New CEO and CFO restored stakeholder confidence and positive cash flow enabling controlled sales processes that gave all businesses new industrial owners.
Impact: Bankruptcy avoided and group restructured yielding continuation of businesses and a favourable outcome for lenders, employees and pensioners.