turnaround management firm

The Quest Approach

Clients trust Quest to resolve their complex business issues. We have earned their trust by dedicating ourselves to every aspect of the turnaround process, and by producing results that far exceed their expectations.


The Quest Difference


Senior Level Attention

Each engagement is headed by a senior professional who plays an active, fully engaged role in the assignment. Responsibility for the engagement is not delegated to junior level personnel.


Deploying Required Resources

Quest will assemble a team of its own staff and client personnel tailored to each case. Priority consideration is extended to utilizing client resources to the fullest. Company team members provide valuable perspective and can be trained as effective members of the new permanent management team.


Achievable Objectives within Reasonable Timeframes

As a first step in each assignment, the Quest team quickly creates an agenda for immediate actions that provide quick wins. The actions may include operational changes, negotiations with creditors, improved cash management, asset dispositions, plant closures and division or product line closures. Our purpose is to take action on the opportunities that will strengthen the company's financial position quickly, "buying time" to build positive momentum and to garner support from lenders and financial backers.


Rigorous and Disciplined Analysis and Research

Quest applies a disciplined approach to identify and resolve the problems that created the crisis. This involves a detailed, bottom-up analysis of financial statements and operating records, debt agreements, selected interviews with key managers in the company and discussions with industry observers and analysts to understand the external, macro-level issues impacting the company's performance. This diagnostic pinpoints business risks, future cash constraints and covenant compliance issues and provides the basis for recommended steps to improve cash flow and to develop a realistic and achievable business plan.


Parallel Focus on Short and Long Term Issues

Once the liquidity issues are understood and resolved, Quest focuses on near-term opportunities to generate increased revenue, reduce costs and to sell non-performing or non-core assets. Then Quest works with management to initiate changes in marketing, manufacturing and logistical operations that will result in significant profit improvement and growth over the current operating cycle and beyond. This approach, combining a tactical as well as strategic focus, has been successful in maximizing constituent recoveries.


Continuous Communication

We communicate by talking to our clients frequently and providing short written status reports. We advise them of the actions we intend to take in building a clear understanding of the path to recovery and a consensus among the various groups that need to support a turnaround plan. We prepare formal materials but we believe constant communication of major findings and intended actions is far better than large, detailed reports that often delay the turnaround process.

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