Flynn Joins Carl Marks Advisors as Managing Director

Carl Marks Advisors added Patrick Flynn to the firm as managing director, responsible for business development and providing financial advisory services.

Bon-Ton Hires AlixPartners to Oversee Turnaround

Reuters reported that U.S. department store chain Bon-Ton Stores hired advisory firm AlixPartners to help turn around its business and slash its debt load.

Rosenthal Provides Financing to Expedite Prestige Restructuring

Rosenthal & Rosenthal provided financing to facilitate a complex restructuring and sale of Prestige Industries, a provider of commercial laundry and valet services to the hospitality industry in the New York City region.

Squiers Joins Ankura Consulting as Managing Director

Ankura Consulting appointed Jay D. Squiers as a managing director in its turnaround and restructuring group.

FTI Names Tobias CEO of FTI Capital Advisors, Adds Three MDs

Glenn Tobias has been named CEO of FTI Capital Advisors. Asher Cohen, Peter Gray and James McClain joined as managing directors.

A&M Transaction Advisory Group Expands With New Managing Directors

Alvarez & Marsal expanded its Transaction Advisory Group U.S. practice with two new managing directors, Peter Gougousis and Jeffrey Jones.

Restructuring Lawyer Noble Joins McGuireWoods as Partner

Kenneth E. Noble has joined McGuireWoods’ Restructuring and Insolvancy department as a partner in New York.

Mackinac Adds Turnaround, Restructuring Exec Bittner

Mackinac Partners added former PwC and Grant Thornton partner John Bittner as a senior managing director to lead the firm’s Southwest Restructuring practice.

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.