April 2017

April 2017
Turnaround Management
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 Adds Two Restructuring Leaders from Carl Marks

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 Adds Agran to Restructuring Team

Carl Marks Advisors added Steven F. Agran as managing director to work on restructuring deals and relationship management and marketing in the northeast

Diercks to Lead Clear Thinking Group Creditors Rights Practice

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.

Collard Honored with SmartCEO Distinguished Leadership Award

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.

A&M Names Hayward Head of Mid-East Turnaround Team

Alvarez & Marsal appointed Neil Hayward managing director and head of the Middle East Restructuring and Turnaround team.

Alvarez & Marsal Hires ERISA Expert Spencer in New York

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 Veterans Launch National Turnaround Firm

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 Names Damon Senior Managing Partner

Ankura Consulting appointed Josh Damon as senior managing director based in its Chicago office.