Jennifer Byrne

Managing Director

Jennifer Byrne

Jennifer Byrne

Managing Director

Jennifer is a Managing Director with nearly 20 years of financial advisory, restructuring and interim management experience, focusing primarily on company-side restructurings in Chapter 11. Her breadth of expertise includes strategic planning, liquidity and working capital management, business plan development, debt/equity refinancing, transaction advisory, reorganization plan development and Chapter 11 bankruptcy administration. She has served in senior roles representing key stakeholders across sectors that include healthcare, technology and media, food and agriculture, retail and renewable energy.

Jennifer recently served as financial advisor to Healogics, Inc., a wound-care services provider where she led the debt refinance process alongside the company’s investment bank and counsel, managing evaluation of strategic alternatives, cash forecasting and lender due diligence. Healogics obtained $240M in new equity and de-levered its balance sheet out of court as a result of the transaction.

Jennifer also recently served as financial advisor to OneWeb Global Ltd., a pre-revenue, UK-based satellite company with operations in 23 countries. She successfully executed a sale process within Chapter 11 bankruptcy proceedings, generating $1.1B in gross proceeds and the elimination $1.7B of debt. The company was able to emerge from bankruptcy in just seven months and has since raised another $1.6B in funding.

Jennifer served as financial advisor and interim management in the Chapter 11 restructuring and §363 sale of True Health Group, LLC, a $140M specialty diagnostic lab company. She led liquidity management and strategic planning pre-filing and managed the sale of assets in-court to a strategic buyer.

Jennifer provided interim management services to Promise Healthcare Group, LLC, a $320M post-acute healthcare provider, in its Chapter 11 bankruptcy restructuring. She led all facets of the restructuring, from liquidity management and evaluation of strategic alternatives to the sale of its 19 hospitals to seven different buyers. The company was able to repay its secured debt in full and preserve most of its employees’ jobs as a result.

Jennifer provided interim management services to a $110M southeast-based online shoe retailer marketing the sale of its business out of court. Jennifer assessed operational performance and liquidity, prepared cash forecasts, managed negotiations with the secured lender and the sale process alongside the company’s investment banker.

Jennifer served as Chief Restructuring Advisor to the for-profit entity of Crystal Cathedral Ministries during its Chapter 11 proceeding where she was responsible for managing all day-to-day finance and accounting activities, including monthly reporting packages, preparation of cash forecasts and all bankruptcy-related reporting and provided strategic advisory on restructuring alternatives. Crystal Cathedral was able to pay all creditors in full through a sale of its real property assets.

Jennifer provided interim management services to Zacky Farms, a $150M west-coast poultry producer, in its Chapter 11 filing. She was responsible for assisting in securing DIP financing, preparing cash forecasts, managing payables and vendor negotiations, assessment of strategic alternatives and development of long-term business plan projections. Jennifer led a sale process to restructure the company and emerge from Chapter 11 with operations intact under new management.

Jennifer served as financial advisor of a $130M regional newspaper publishing company where she was responsible for building a three-year business plan forecast and managing liquidity while marketing a refinance of the company’s senior secured debt. Jennifer also served as financial advisor to a $150M seafood processor to facilitate negotiation of a new credit facility to replace its existing debt.

Jennifer  provided interim management services to a $200M building products distributor through an out-of-court sale process. She assessed the company’s operations, business plan and reorganization efforts to-date in order to determine a sale strategy. She reviewed and analyzed the company’s liquidity, 13-week cash flow forecasts and collateral position securing the ABL facility. And she supported marketing of the company to over a dozen parties, facilitating negotiations with lenders throughout the sale process.

Jennifer served as financial advisor to Cascade Grain Products, a mid-sized Portland-based ethanol producer built to generate $275M of revenue but rendered inoperable due to construction flaws. She assessed cash requirements and liquidity needs of the company to negotiate debtor-in-possession financing in order to restructure the Company through Chapter 11. She assisted with bankruptcy reporting requirements and negotiations with lenders and equity sponsors to assemble a plan of reorganization in conjunction with its pending contractor litigation.

Jennifer served as financial advisor to Pacific Ethanol Holding Company and its affiliates through the company’s Chapter 11 proceedings. She assisted the $700M renewable energy company in its forbearance negotiations and assessed various strategic and operational alternatives prior to filing. She also addressed short and long-term liquidity needs, assisted in preparing a13-week cash flow forecast, assisted in negotiating DIP financing and worked with management to develop a temporary shutdown plan for operations that would maintain the option to restart plants should the economics once again become viable. Jennifer also assisted the company to formulate a plan of reorganization and optimal capital structure. Pacific Ethanol successfully reorganized in Ch. 11, eliminated $290 million of debt and paid unsecured creditors in full.

Jennifer also served as advisor to the committees of unsecured creditors of Harry & David and Nurserymen’s Exchange, Inc.; advisor to the secured lenders of $1.6B grocery chain and a $140M billing and remittance processor; and refinance and due diligence advisor for a $53M commercial real estate fund, a $135M wind farm project and multiple federal detention facilities.

Jennifer led a large, multi-year engagement with the Pension Benefit Guaranty Corporation where she assisted the company’s Corporate Finance & Recovery group in evaluating troubled companies with an inability to fund pension obligations. Her team assisted in negotiating terms of settlement agreements focused on the mitigation of client’s increased liability exposure in the context of M&A transactions. They also prepared affordability, liquidation and recovery analyses in various scenarios including non-core asset sales, §363 sales and out-of-court liquidations and created models to track the company’s performance pre- and post-transaction to benchmark performance against competitors.

Prior to joining Mackinac, Jennifer served as Managing Director with FTI Consulting, Inc. in San Francisco CA and Atlanta GA, where she provided interim management and financial advisory restructuring services to mid and large-cap companies. Jennifer also previously served as Manager with Deloitte Financial Advisory Services, LLP in Washington, DC and San Francisco, CA where she provided financial and operational restructuring support to clients in distressed situations.

Jennifer earned a Bachelor of Arts in Sociology from Loyola University in Maryland, Baltimore, MD. She earned a Master of Business Administration with a concentration in Finance from the Fuqua School of Business, Duke University, in Durham, NC.

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