CI’s Role:
The bankers of CI acted as the exclusive financial advisor to Road Ranger, LLC (“Ranger”) in the recapitalization of the corporate balance sheet and the sale and leaseback of real property assets. Ranger is a 80+ unit convenience store and retail petroleum operator located in the Midwest United States. CI employed a strategy to sell real property assets in order to (i) consolidate the number of creditors to the company; (ii) reduce or eliminate onerous financial covenants; (iii) reduce or eliminate personal guarantees; and (iv) improve credit ratios related to debt coverage, debt-to-equity and debt-to-cash-flow in order to allow for future growth. Services included (i) the marketing, sale- leaseback of real property assets; and (ii) the procurement of a forward-looking sale-leaseback financing commitment to support the company’s growth plans.