Centurion Auto Logistics

Summary

Financial Advisor

Jacksonville, FL

Provides logistic and hauling services to automotive customers in markets in Florida and the Southeast. Centurion is headquartered in Jacksonville, Florida and operates processing and servicing locations in Miami, Florida; Commerce, Georgia; Vance, Alabama; Petersburg, Virginia; and Brunswick, Georgia.

CMA professionals were retained by the Centurion Auto Logistics to provide financial and consulting services, including a review of the Company’s business plan, financial projections and future liquidity, in order to determine its ability to repay its outstanding indebtedness, in light of a severe drop in the Company’s volume of business.

Key Challenges

Complex Operating Structure

Sales Volume Declines

Commodity Price Variability

Engagement Highlights

CMA conducted its review of the Company, which included interviews with key management personnel and the review of a variety of documents provided by the Company; these included the projected plan, 13-week cash flow, prior year’s audits, loan documents, shareholder distributions, as well as cost reduction actions taken by management and reflected in the Plan.
CMA analyzed revenue and profit performance by location and customer segment, compared to equipment allocations and utilizations.
Fuel rates used in the revenue calculation of surcharges and fuel expense were updated to a rate consistent with current view and confirmed as reasonable when traced to the DOE historical view of Diesel pricing.

Centurion Auto Logistics

Summary

Financial Advisor

Key Challenges

Engagement Highlights

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