Daily News: November 19, 2013

Strategic Management Partners Celebrates 25 Years

Strategic Management Partners is celebrating 25 years in turnaround management.

Strategic Management Partners said turnaround managers are ready to run troubled companies, recover assets from investments gone bad, and advise boards of directors and investors on company viability in distressed situations and transition. They provide strong interim and operational leadership, strategic planning, financial, defense conversion, sales and marketing acumen developed building organizations in large and small companies, including presidents of public and private middle-market companies providing solutions to commercial, federal, international markets, the firm said.

When Strategic Management Partners enters an interim CEO engagement, it has three goals: gain control of a dire situation, stabilize work environment, establish breakeven and jump-start the company; establish a viable plan, rebuild an enduring management team to implement that plan; and hire its replacement. The firm believes true company value comes from a stable, competent cohesive team of people resources committed to company growth, profitability and prosperity. The firm has chosen not to build up the number of consultants on engagements since when they leave, the value leaves with them. Instead, it utilizes the client’s employees and takes them to the next level. It builds value into the company for the investors and all stakeholders.

John M. Collard, chairman, Strategic Management Partners; past chairman, Turnaround Management Association; and chairman, Association of Interim Executives, said, “We are proud of the work that we have done and our many success stories. Turnarounds are like re-beginnings — they must build teams, differentiate and sell products and services, raise capital, and grow. I have witnessed many changes in the business of turning around troubled companies in 25 years. Today, while interim CEO engagements are important, there is a trend toward adding advisors in the role of outside independent directors at the company, or recovery fund experts in private equity fund management. The key is to recognize that there is trouble and bring in leadership who can make a difference.”