Kyle Felix specializes in advising companies, secured lenders and unsecured creditors across a variety of industries including exploration and production, oil field services, engineering and construction, industrial services and wholesale and distribution.
Mr. Felix’s prior restructuring experience in the wholesale and distribution space includes the out-of-court recapitalization of Animal Supply Company, a national wholesaler and distributor of specialty pet food and supplies with annual revenues in excess of $850 million. Mr. Felix’s contributions during the engagement included monthly business plan development, weekly cash flow forecasting, daily cash management and development of vendor payment strategies. His efforts not only improved the company’s cash management processes but enabled the client to more effectively navigate periods of limited liquidity while maintaining compliance with existing financial covenants.
Within the energy industry, Mr. Felix’s experience includes serving as advisor to Halcon Resources during its balance sheet restructuring and pre-packaged Chapter 11 proceedings. During this engagement, he worked closely with the company’s executive leadership team to advance discussions with key constituents and effectuate a deleveraging transaction that reduced funded debt by more than $750 million. Mr. Felix’s contributions also included building the company’s near-term liquidity forecast and assisting with the development of the company’s business plan and long-term forecast.
Prior to joining FTI Consulting, Mr. Felix worked at HollyFrontier as part of the company’s Internal Audit and Crude Supply & Marketing groups. While at HollyFrontier, he worked closely with various departments including operations, FP&A, accounting, marketing, and investor relations.
Mr. Felix is a Certified Insolvency & Restructuring Advisor and is experienced in financial modeling, valuation, FP&A, treasury and market analytics.
- Halcon Resources: Pre-packaged Chapter 11 resulting in elimination of $750 million of pre-petition indebtedness
- TNT Crane & Rigging: Pre-packaged Chapter 11 resulting in elimination of $665 million of pre-petition indebtedness
- Rex Energy: Sale of assets to PennEnergy Resources for $600 million
- Chicago Bridge & Iron: Strategic alternatives assessment resulting in $6 billion merger with McDermott International
- Animal Supply Company: Change in ownership and $50 million incremental equity investment
- McDermott International: Advisor to the senior secured lenders during prepackaged Chapter 11 proceedings
- Sanchez Energy: Advisor to the Unsecured Creditors Committee during the company’s Chapter 11 proceedings
- Ultra-deepwater Drillship Operator: Representation of the senior secured lenders during out-of-court negotiations