Qorval Restructures ADS Logistics

February 1, 2010

ADS Logistics, a leading service provider of logistics solutions to the metals industry, has successfully emerged from bankruptcy through a pre-packaged sale transaction to its lenders. Qorval Managing Partner Tim May led efforts to close the transaction in less than 60 days after ADS filed for bankruptcy protection. The restructuring process has allowed ADS to shed unprofitable locations and right-size the business for future growth. May, who served as the Chief Restructuring Officer, interim Chief Executive Officer and Chief Operating Officer for ADS throughout the restructuring process said, “The historic downturn in the automotive industry presented a broad set of challenges for the ADS business model. We were excited to provide the support that allowed ADS to restructure its business and create a foundation for future growth and prosperity. The speed and efficiency of the turnaround is a true testament to the ADS employees and its advisors.”

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