Daily News: August 10, 2016

BDO Consulting Hires Karampelas as Managing Director

BDO Consulting appointed Basil Karampelas as managing director in the firm’s Business Restructuring and Turnaround Services practice.

Karampelas brings more than 25 years of experience in corporate restructuring and turnarounds to his new role, where he will provide financial, strategic and operational guidance to companies facing commodity pricing and capital market challenges in the natural resources, chemical and renewable energy sectors.

Before joining BDO, Karampelas was president and head of origination at American Process, where he was responsible for successfully executing the company’s first external capital raise and growing its staff of fewer than 25 employees to more than 120 in just three years. Prior to that, he acted as operating partner to a Connecticut-based hedge fund for portfolio companies in the energy sector. There, he led several successful turnarounds, including an emergence from Chapter 11 and subsequent asset sale. He also has held leadership positions at BP, Enron and Koch Industries.

“The soft energy market and fluctuating oil prices have created an environment where bankruptcy activity is a reality,” said Carl W. Pergola, executive director of BDO Consulting. “Basil will have a key role in helping BDO’s energy clients evaluate their path forward—whether that means filing for Chapter 11, or conducting a turnaround.”

“Prices in the energy sector have declined as much as 70% since June 2014, and outside the big energy giants, many independent, middle-market producers are struggling to stay afloat,” said David Berliner, leader of BDO’s Business Restructuring and Turnaround Services practice. “During this period of uncertainty, Basil’s experience helping organizations successfully navigate restructuring or bankruptcy proceedings will be a tremendous asset to our team.”