RLC

Summary

Chief Restructuring Officer

Broussard, LA

RLC, LLC is the largest privately held helicopter operator in the Gulf of Mexico, providing transportation services for personnel and equipment to offshore production platforms and drilling rigs. Serving energy service providers and oil and gas producers, RLC operates a fleet of offshore-equipped helicopters with a strong emphasis on safety, performance, and customer service.

Carl Marks Advisors (CMA) was retained as Restructuring Advisor (RA) by the lender group’s counsel to improve communication, support business changes for better operations and liquidity, and facilitate a debt restructuring aligned with these goals.

CMA conducted a comprehensive financial and operational review, including EBITDA, customer contracts, industry position, asset utilization, cost structure, cash management, and FAA compliance.

CMA then provided interim restructuring support, implementing cost reductions, divesting non-core assets, and creating an operational plan for the restructured entity. This included a new budget, cash flow management, optimized asset value, staffing adjustments, and exploring alternative revenue sources.

Key Challenges

Asset Sale

Bankruptcy

Low Liquidity

Engagement Highlights

Phase 1 of the engagement focused on a comprehensive financial and operational assessment of the company to include reviews of overall direction and EBITDA generation, customer contracts, industry outlook and position, asset (helicopter) utilization, profitability trends, fixed and variable cost structure, cash management practices, and a review of the company’s FAA compliance.
Subsequently CMA provided interim restructuring and financial assistance to implement report findings concerning improved systems, cost cutting measures, sale/divestiture of non-core assets and the development of an operating plan of the restructured entity including a new bottoms-up budget to support the plan and contingencies, short and long-term cash flows, staffing levels, a plan to optimize value of the excess assets, and plans for alternative sources of revenue.

RLC

Summary

Chief Restructuring Officer

Key Challenges

Engagement Highlights

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