including thank and and am by a everyone, today. Kleinman; Thank you I morning you. for CFO, key corporate transaction overview general that President will with joined announced our Pearson. detail in I return Welcome, December. discuss financing this highlights Adam Brent our we and us structure our the reorganization results financial Brent COO, and for will the joining and in closed then greater for quarter begin remarks. and closing I'll previously and
our M&A. Elm or investment GECM. property investment traded Real we're by our Great existing the Corp, Investment Great Currently, equipment care In in our BDC Medical and or vehicles Capital increase verticals, manage on both Management assets. under the efforts create value through For under a may Group to moment each the our and Great objective shareholder those significant organic with Great our our brief be through driving and growth deploy company as as holding familiar a potential, general and not Elm our distinct companies I'll is take in sleep In publicly tax Fort managed review acquiring to who we monetize distributor are Estate, companies, with a other Elm operating we structure focused collective Equipment strategy. three respiratory a substantial whole, In Elm services. to we capitalized Great in seek of strategy. is Durable which Management, both and of Capital managing Elm to DME, management, study Myers assets a
was ended DME this Turning XX, for December second businesses. quarter investment notable and XXXX, quarter XXXX to our Fiscal our management
segment this pleased this success. drove quarter. businesses support have we this consistently been report both goals for we've the with more this company both to these to for objective the simultaneously we while our that the quarter businesses I'm in said past, momentum whole growth achieve capital and future with Furthermore, them necessary recently. strategic positioning very growth As for at for
or all Elm from equivalent have completed shares separate traded company to that number name Capital Group as and second were our on acquisitions reorganization. the a DME working focus XX, that late helps financing, Elm and Morgan shares Great our financing an announced in recap announced affiliated distinguish J.P. then the later the transaction us, commentary, investment year. for and scalability to of named holding after XXXX, Elm During On Corp, brief Great a Group. a company, refer the Immediately corporate for I structure both and Group. the this of will period means platform, broker we and company of automatically Elm of company what a last a million we transaction Capital we its Group and product which established Elm reorganization Investments Group reorganization, XX, BDC my growth. Pursuant on we dealer our formed of from Great Capital J.P. GECC. also we parent from and Great the completed and Forest On Morgan Great Elm a was that our we whereby financing fully Chase. branding became of fund parent a new I'll strategic December the $XX.X holding to we manage, to turn to provide Capital exchange prior in publicly Effectively, Management initiatives transaction Great elaborate we structure now, new Investment but corporate changed December we're in our and Elm reorganization at shareholders. and which for this financing holdings parent called also quarter, JPM returning able subsidiary to changed the Great Group,
website have to updated we changes. As these you to reflect may www.greatelmgroup.com noticed, our have
investment XX% an maturing newly earlier, issued of owned be Forest mentioned equity $X.X whereby closed the JPM, Accordingly, Forest with for growth. of we financing a $XX.X and from proceeds DME sheet at from fund approximately term XX% purchased XX% As of transaction preferred to fees $XX.X XXXX million in I by an aggregate to XX and and cash addition JPM. stock balance on in balance million. X% by will Forest million expenses were JPM in the JPM the existing and to million, GEG loan from and refinance the The used
has incur sheet near to its flexibility senior as it excess DME also assesses now growth from term, as the lower as cash to DME on including Importantly, In the utilize indebtedness, a capital. balance well opportunities benefits cost of M&A.
in cash. As of Investment GECC its Great of to transaction Management distributed common the part its the the purchase its JPM's to prior financing interest of Elm ownership Forest Group common XX% business, ownership its of business, Forest, DME shares and and
Estate and a the in interest Real Forest preferred DME. will of business retain ownership
Elm its run, remain Forest continue its XX% fund transaction were retain immediately available federal and senior expansion. longer which accomplishes usage us. Great the of platform, in the DME In U.S. the across by following the will lowered NOLs, cost Forest. of afford the unaffected for capital, summary, as own also needed incur Great transaction Elm for the to will and flexibility business, We to [ph] to refinanced to as leverage the
increased of strengthen Moreover, in we to significant future. the plans. excess enhancing growth support achieve additional our at value financial also step in laying provide plans. to JPM long-term groundwork necessary the as holding order relationship shareholder growth with our which work our additional hope to flexibility company, represents JPM to will in our strategic parent means find We in a and transaction and achieve we cash DME
sheet. asset Turning which balance specialty of $XX while to XXX.X% to JPM its our offering, gross Ultimately, strengthening of strategy the a $XX.X Investment ratio transaction, capitalize raised forma coverage ability a on the Management at GECC enhance pro basis. million proceeds raised segment. finance Part completed million its rights should on the
Importantly, strong factoring left the portfolio seeing pandemic, third for been opportunities. results we been attractive prestige finance. which the with very potential quarter has investment internal This position reported our as an with our resiliency as a its also exceptional take generating business, capital GECC capital advantage and that throughout expectations. have stronger we it of GECC, are GECC pleased well-exceeded the well with a of investment to have in
with attractive cash Great coupled Elm our Group's a fund dedicated provide into Elm million that's subsequent an in this second niche our Management to capital Purpose the the SPAC, Acquisition but arena pursue internal underwriting to highly of space. Special or $X SPAC, $X prudent segment, returns interest Companies process. Our can not with opportunities the leverage just believe segment additional highly-fragmented protection, fund deliver finance investing asymmetric intention presence and quarter, deploy specialty investing in cash end. and quarter and this asset our Investment the acquisition We into additional in began excess experience to risk-adjusted and million given the downside also invested into to Great structure in class this In very factoring, is broader of
investing that Our and operator to a both: teams two, believe structure backing network; goal fund value [ph] met proprietary significant is sophisticated with to and provide where expertise offer to ramp up we sponsors capital in industry period The has been financial one, capital that or secondary on or on in trust issuers slight trade market modest as fundamental of IPOs have through executive target a we've advisory. and the and units managerial investor acquiring discount value, at focused based are at and only to securities well in premium SPAC we through the attractive deals shares common deemed trust. as announced a slight or to analysis premium
greater to go detail, operational and wanted through to a it of touch results turn Brent Before couple I I high-level financial in over on our details. to
pandemic. $XX.X quarter DME or Our ongoing businesses Investment COVID-XX an impact of also and on Management, million, DME year-over-year. from by increase fiscal but both stable performance generated of million business revenue both X% second to $X.X reflected topline the continued
the both DME by $X.X reallocation in personnel to revenue $X.X a [ph] new $X.X We equipment sales. increase $X.X in the expenses equipment sales quarter, taking and softened to was sleep large versus EBITDA expenses While and part sales increase of ability external was experienced year which study. which year-over-year, increase virtual studies, offset growth a sequentially, their the million due as strong reserves of related corporate of This set sleep in-person GEG to by by ups million. referrals COVID-XX. We driven was be after DME, testament this environment. of a and year-over-year last in into lower largely operating medical during and million pandemic get account increased in for to by Rental from million or in the $X.X supply our adjusted an this in-house service. to CPAP team tend XXXX to operating from revenue sales million nature to million revenue driven also demand $X.X experienced was of fewer slowdown performance transition experienced is
as I the runway However, believe transaction following recovery is increase to have supplies and pandemic and as we through excited our financing on an the in JPM believe from DME And activity, DME we touched our equipment, on we for emerge sales grow M&A meaningfully position business. business excellent now to ample earlier, conditions. we very are efforts the
Our new infrastructure given hope is to complete transactions and the current supported year, landscape and by resources. our enhanced several each
pleased on public company benefits expense in the focused very corporate produced that front, of maintaining reduction we've couple market remained G&A, costs. as the which general it directly quarters, On shareholders. [ph] past we I'm report to over a to relates
we gained quarter, This and detail our to. to of cost DME seek I'll Brent The the part structure the costs the all closing financial return continually we our turn Brent? to of a a entire assured, where results reallocation we without compensation improvement related leverage few that, for ways of to remarks. quarter we to is to maintain as and for able continue certain in organization resources I'll business. discuss operations. and and lean it reduce overhead management resources Rest aspects to With compromising examine to our more potential maximized further return are then of in dedicated over our the
