Nexient Learning Inc. was Canada’s leading publicly traded corporate training and consulting company. It specialized in the areas of information technology, leadership and business skills, business process improvement, and learning services.
NewPoint was retained as exclusive financial advisor by the company to review strategic alternatives available to them. The Company had used $27.5 million of short-term bridge financing to complete a series of acquisitions. The bridge financing was coming due within months of NewPoint’s retention.
Both a recapitalization and an outright sale were considered. Strategic and financial buyers and investors were approached in Europe and North America. The Company’s interim results were insufficient to complete a sale on satisfactory terms. A recapitalization plan was negotiated with the existing debt syndicate and shareholders.