Mackinac Partners, a financial advisory, turnaround management and restructuring firm, added two veteran turnaround, restructuring and M&A executives, Michael Nowlan and Craig Boucher, to the firm.

Nowlan, based in Boston, has more than 25 years of strategic, financial, turnaround management and restructuring advisory experience. He joins the firm as senior managing director. He has provided strategic and financial advisory in many complex client restructurings for both debtor and creditor stakeholders that include Budget Rental Car, Sunterra Corporation, MCI/WorldCom, A&P and Malden Mills Industries. Nowlan led the strategic and business plan development for a $700M regional grocery chain that influenced the client to divest in a series of transactions that optimized equity to shareholders and served as restructuring lead for a contemporary women’s clothing retailer with 173 stores and online commerce.

In this role, Nowlan guided the company through Chapter 11 bankruptcy and a plan of reorganization which won the “Chapter 11 Reorganization of the Year (Under $500 million)” Turnaround award from the M&A Advisor.

Boucher, based in Washington, D.C., has more than 20 years of financial restructuring, strategic advisory, M&A and operational turnaround experience. He joins the firm as managing director. Boucher has served as managing director and VP for several leading advisory firms, most recently as a member of Deloitte’s Corporate Recovery group and the firm’s Transactions and Business Analytics.

As a lead restructuring advisor to Brookstone, the nationwide specialty retailer and multifaceted direct marketing business, Boucher guided the company through its Chapter 11 filing, restructuring and a plan of reorganization which resulted in a closed auction sale of $173 million in equity, an 18% increase over the top stalking horse bid and a sale at 17 times trailing 12-month EBITDA. Boucher has also helped drive value through restructuring for numerous retailers, including serving as Interim CFO at Fredericks of Hollywood during its in-court restructuring, and Interim CFO of the San Francisco Music Box Company and The Museum Company during its Chapter 11 proceedings, resulting in a going concern sale of one retailer and an asset sale of the other, generating a significant return for unsecured creditors.