Jack Doheny

Situation

The Jack Doheny Company is the largest dealer, reseller and rental company focused on vacuum trucks in North America, with operations throughout the United States and Canada.

The Company has experienced rapid, profitable growth in recent years as demand for its products, both sales and rental, has expanded. In response, JDC increased its borrowing to finance investment in its fleet.

Solution

Amherst was engaged to (i) evaluate and review the Company’s forecast on behalf of the existing lender, and (ii) arrange a new, expanded financing package with the capacity to support expected growth.

Results

Amherst performed an in-depth review of the Company’s forecast assumptions, including sensitivity analysis, which was presented to the existing lender as well as the new lending group.

Amherst crafted a new credit memorandum and presentation and facilitated a meeting with 12 potential lenders for the expanded syndicate. Ultimately the syndicate expanded from four to nine banks.

During the refinancing process, the Company’s CFO suddenly left the Company. A seasoned Amherst professional was installed as interim CFO and managed both the internal finances and the bank refinancing.