Cosgrove Partners | Material Handling Equipment Company
Cosgrove Partners (CP) is a management consulting firm dedicated to helping business leaders to pursue facts, accomplish objectives and create sustainable results. Founded in 2001, CP has assisted more than 2,000 management and sales professionals and more than 100 companies achieve higher levels of performance.
consulting, management consulting, sales training, executive coaching, marketing, channel strategy, succession planning, branding, technology

Crisis Management


Material Handling Equipment Company

Category: Develop, Improve, Lead, Small to Mid Market Companies


Following the death of the Founder/CEO of this privately held distribution business, the company found itself being lead by a group of family members who did not have the operating expertise and financial savvy to survive.  After 18 months of continuous losses, the company was in violation of their loan covenants and facing default.   CP was retained to facilitate a workout of the debt and review the viability of on-going operation of the company.

  • Review the existing business model and organizational structure
  • Review and assess the income statement and cash flow
  • Review and analyze the balance sheet


During the engagement, CP collaborated with a broad range of suppliers, customers and management to find common ground and renegotiate the terms of each relationship to allow for the survival of the business.

Specifically, the approach focused on the following:

  • Negotiated payments to all major suppliers
  • Significant reduction in receivables and DSO
  • Removal of certain family members from management positions
  • Retention of an experienced General Manager
  • Sale of a small division to a competitor


The family was able to retain control of a smaller but profitable organization while avoiding a default on their loan.  Their borrowing base was retained while avoiding default.