A Tale of Crisis and Opportunity
Abstract
On June 30, 2015, Green Tree School & Services, (GTSS) closed on a business deal that resulted in the sale of its state of the art facility and entered into a lease agreement and management agreement with a multi-state mission aligned agency with $85Mm in annual revenue. By October 2015, GTSS will become a subsidiary of the acquiring organization. The deal came together after 10 months of negotiations with several mission aligned organizations and a major restructuring of its business and debt obligations. The restructuring resulted in the closure of two core business lines, facilitating the transition of over 200 children to new service providers and layoffs of 50% of the workforce, which included clinical and educational staff as well as back office and administrative staff.
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Copyright (c) 2015 Patricia D. Wellenbach (Author)
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