FourBridges Capital Advisors announced Wednesday the expansion of the firm’s Restructuring and Debt Financing Advisory practice, adding five senior professionals with backgrounds in restructuring and turnaround management, commercial banking, bankruptcy law, finance and accounting and valuation services.
“FourBridges has always provided restructuring, refinancing and mergers and acquisition services to middle market companies," said Andy Stockett, managing director at FourBridges. "With the current challenges faced by lenders and their borrowers, we felt it prudent to increase our bandwidth."
The various backgrounds of the team offer clients a multi-disciplinary approach to addressing issues resulting from the COVID-19 crisis. FourBridges is providing assistance to lenders that are assessing the status of a borrower in distress, as well as to management teams and owners/investors that need hands-on financial, operational and strategic assistance.
Services include:
cash flow management
outsourced Special Asset management
loan modification and restructuring
turnaround and performance improvement management
interim management, trustee and receivership services
access to alternative capital
mergers and acquisitions, including Section 363 sales
“Many companies are experiencing cash flow problems that can impact their ability to make debt payments or simply continue operations,” said Chris Rowe, also a managing director at FourBridges. “At the same time, lenders are consumed with the PPP/EIDL/CARES process, and they may have limited resources to adequately analyze and assess credit issues in their portfolio.”
Professionals joining FourBridges include:
Rob Barnett: 25 years of experience in turnaround management, restructuring, and financial advisory work at ASA Partners, Conway McKenzie and Deloitte Consulting advisory firms. Member of the Turnaround Management Association and the Association of Insolvency and Restructuring Advisors. Recent roles include chief transformation officer for Tenet Healthcare in Birmingham and Trustee for Sea Island Company Chapter 11.
Larry Richey: Former Chattanooga market president for Bank of America and senior lending executive at Pinnacle Bank, Regions Bank and FSG Bank.
Richard Powell (CPA and Certified Fraud examiner): Previously with Coopers & Lybrand and Grant Thornton; former CFO of T.J. Snow Company and Remington Industries.
Ballard Scearce (JD): Deep experience in corporate restructuring and creditor’s rights. Former advisor with GE Capital, CIT, SunTrust and Fifth Third. Former partner with Husch Blackwell LLP. Member, American Bankruptcy Institute
Travis Flenniken (Chartered Financial Analyst, Certified Valuation Analyst): Previously with Henderson Hutcherson McCullough CPAs (BDO affiliate) and Mercer Capital, a valuation firm in Memphis.
“I look forward to using the FourBridges platform as I continue to be a problem-solver for stakeholders,” said Mr. Barnett. “Maintaining or extracting value in challenging situations requires strong financial, operational and accounting skill sets. Our team brings those skills as well as an understanding of the practical, technical and legal nuances involved in a workout process.”