Vol. 15, No. 3
Separating “Good” Business from “Bad” Business: AEG Partners’ Award-Winning Turnaround of Compressor Engineering
Compressor Engineering enjoyed two years of significant revenue as it expanded into new service areas. At the same time, the company started to experience lower profitability and tighter liquidity. Were these issues driven by the expansion or were there other more deeply rooted problems? The company called in AEG Partners, which discovered undetected problems that threatened the very existence of the business. AEG implemented a plan and resulted in a turnaround honored as TMA’s Chicago/Midwest Chapter’s 2016 Turnaround of the Year.
Teneo Holdings expanded its Restructuring practice through the addition of Christopher K. Wu and Charles Boguslaski who join as president and senior managing director, respectively.
Carl Marks Advisors added Steven F. Agran as managing director to work on restructuring deals and relationship management and marketing in the northeast
Clear Thinking Group named Patrick Diercks as head of its Creditors’ Rights Group practice. The company was also named plan administration for retailer Joyce Leslie’s liquidation.
Turnaround veteran and a founder of the Turnaround Management Association has been recognized by SmartCEO Magazine for his distinguished career and achievements in the turnaround community.
Alvarez & Marsal appointed Neil Hayward managing director and head of the Middle East Restructuring and Turnaround team.
Alvarez & Marsal has expanded its Insurance and Risk Advisory Services practice with the addition of John Spencer, who joined as managing director in New York.
Industry expert William Snyder and 16 partners from Deloitte CRG, Chrysalis, Winter Harbor and BDO have launched CR3 Partners, a national turnaround and performance improvement firm.
Ankura Consulting appointed Josh Damon as senior managing director based in its Chicago office.