Stout was hired by a middle market manufacturing company that was in default with its lenders. One of Stout's practice professionals became the Chief Restructuring Officer of the company to effectuate changes in the operations and to find a means of repaying the company debt. Stout obtained a forbearance agreement with both the first- and second-lien lenders. Stout executed a turnaround plan for the company, focusing on larger-margin projects with short cash flow cycles. Once the business had returned to positive EBITDA, Stout oversaw the sales process of a portion of the business. After about a one-year period, we had returned the company to profitability, repaid both lenders in full, and left the equity owner with an operating company and a potential earnout on the sale worth millions.