Alvarez and Marsal

SVB Financial Group Enters into Definitive Agreement for the Sale of SVB Capital

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金曜日, 5月 3, 2024

Sale, Bankruptcy, Oliver Cromwell, Hearing, SVB, Pink, Partnership, Centerview Partners, History, Court, United States bankruptcy court, Alvarez and Marsal, Brookfield (corporation), Sullivan & Cromwell, Silicon, SAN, Security (finance)

SAN FRANCISCO, May 2, 2024 /PRNewswire/ -- SVB Financial Group (Pink Sheets: SIVBQ) today announced that it has entered into a definitive agreement under which a newly created entity affiliated with Pinegrove Capital Partners ("Pinegrove") and backed by permanent capital from Brookfield Asset Management ("Brookfield") and Sequoia Heritage, will acquire the Company's investment platform business, SVB Capital. Under the terms of the agreement, SVB Capital would be acquired for a combination of cash and other economic consideration.

Key Points:

Under the terms of the agreement, SVB Capital would be acquired for a combination of cash and other economic consideration.
On May 2, 2024, SVB Financial Group filed a motion seeking the Court's authorization to approve buyer protections for the Pinegrove affiliate and consummate a sale of the SVB Capital business.
The transaction is supported by SVB Financial Group and key creditor groups, including the Official Committee of Unsecured Creditors, the Ad Hoc Group of Senior Noteholders and the Ad Hoc Cross-Holder Group.
Centerview Partners LLC is serving as financial advisor, Sullivan & Cromwell LLP is serving as legal counsel and Alvarez & Marsal is serving as the restructuring advisor to SVB Financial Group as debtor-in-possession.

Alvarez & Marsal Property Solutions Brings on Retail Real Estate Veteran Rebecca Fitts as Senior Vice President

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水曜日, 4月 17, 2024

Alvarez, Strategic management, AMPS, Unibail-Rodamco-Westfield, Public expenditure, Senior, Warby Parker, Alvarez and Marsal, Real estate development, Retail

NEW YORK, April 17, 2024 /PRNewswire/ -- Alvarez & Marsal Property Solutions (AM-PS), a full-service commercial real estate advisory firm with offices in New York City and Chicago, today announced the appointment of Rebecca Fitts as Senior Vice President, Business Strategy. Rebecca brings a wealth of experience, industry expertise, and an impressive track record of success in the commercial real estate sector, having held key positions at Warby Parker, Leap, and GGP/Brookfield and Westfield (now Unibail-Rodamco).

Key Points:

NEW YORK, April 17, 2024 /PRNewswire/ -- Alvarez & Marsal Property Solutions (AM-PS), a full-service commercial real estate advisory firm with offices in New York City and Chicago, today announced the appointment of Rebecca Fitts as Senior Vice President, Business Strategy.
Rebecca's extensive background in real estate development, expansion, and retail solutions makes her a valuable addition to the AM-PS team.
Prior to that, she was a member of Warby Parker's in-house real estate team where she developed and executed corporate real estate strategy and managed a portfolio of stores.
Alvarez & Marsal Property Solutions (AM-PS) is a fully integrated commercial real estate advisory firm, providing data-driven real estate services on a local, regional and national level to both landlords and tenants.

OLAPLEX Announces CFO Transition

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木曜日, 4月 4, 2024

CFO, Partnership, Alvarez and Marsal, Restaurant, Interim management, Interim, Telecommunications, Alvarez

The company has launched an external search for a new CFO in partnership with a leading executive search firm.

Key Points:

The company has launched an external search for a new CFO in partnership with a leading executive search firm.
While the search is underway, Paul Kosturos, a seasoned financial executive with over 30 years of experience, will join OLAPLEX and serve as Interim CFO following Mr. Tiziani’s departure.
Mr. Tiziani will work closely with Mr. Kosturos in the weeks ahead to facilitate a smooth transition.
“On behalf of everyone at OLAPLEX, I want to thank Eric for his many contributions to the company,” said Amanda Baldwin, Chief Executive Officer of OLAPLEX.

Resolution Financial Advisors Launches Distressed Advisory Firm

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月曜日, 4月 8, 2024

ABC, Bankruptcy, CFO, Partnership, New Standard, Alvarez and Marsal, Knowledge, Alphabet song, CFA, IP, Benefit, Assignment, Marriott Marquis, Intellectual property, LOS, Resolution, Alvarez, CPA, Financial services

LOS ANGELES, April 8, 2024 /PRNewswire/ -- Introducing Resolution Financial Advisors LLC (Resolution), poised to redefine industry standards with its launch on April 8, 2024. Aptly capturing their mission, "The New Standard in Distressed Asset Resolution," Resolution is dedicated to providing unparalleled strategy and execution for Boards, lenders, and investors navigating the complexities of distressed portfolio companies. Whether seeking a wind down, insolvency, or value recovery process, Resolution is committed to delivering exceptional results.

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Partners Bring Depth of Experience in Guiding Boards, Lenders and Investors
LOS ANGELES, April 8, 2024 /PRNewswire/ -- Introducing Resolution Financial Advisors LLC (Resolution), poised to redefine industry standards with its launch on April 8, 2024.
Aptly capturing their mission, "The New Standard in Distressed Asset Resolution," Resolution is dedicated to providing unparalleled strategy and execution for Boards, lenders, and investors navigating the complexities of distressed portfolio companies.
Resolution specializes in a variety of financial and legal tools including Assignments for the Benefit of Creditors ("ABCs"), foreclosures, receiverships, and federal bankruptcy proceedings.
Resolution Financial Advisors will be holding a launch event alongside the American Bankruptcy Institute Annual Spring Meeting at the Marriott Marquis Hotel in Washington, D.C. on April 19.

Alvarez & Marsal Property Advisors Welcomes Max Swerdloff to its New York Office

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月曜日, 3月 18, 2024

AMPS, Kushner Companies, Alvarez, Growth, Syracuse, Puck Building, Alvarez and Marsal, Observer Media, Restaurant, Torrisi, Work, Property management

NEW YORK, March 18, 2024 (GLOBE NEWSWIRE) -- Alvarez & Marsal Property Solutions (AM-PS), a full-service commercial real estate advisory firm with offices in New York City and Chicago, is pleased to announce the addition of Max Swerdloff to its growing Manhattan based leasing team.

Key Points:

NEW YORK, March 18, 2024 (GLOBE NEWSWIRE) -- Alvarez & Marsal Property Solutions (AM-PS), a full-service commercial real estate advisory firm with offices in New York City and Chicago, is pleased to announce the addition of Max Swerdloff to its growing Manhattan based leasing team.
In his previous role, Swerdloff oversaw the leasing and management of nearly three million square feet of retail space across New York, New Jersey, and South Florida for Kushner Companies.
For landlords, the experienced team offers site and project analysis, short-and long-term leasing, property management, marketing strategy and vision.
AM-PS is a privately owned subsidiary of Alvarez & Marsal Inc. For more information, please visit: www.amp-solutions.com
For media inquiries or further information, please contact:

Bretton Woods International Joins Novatae

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火曜日, 3月 12, 2024

Health, The Company, Alvarez and Marsal, Acquisition, Insurance, BWI

Dallas, TX, March 12, 2024 (GLOBE NEWSWIRE) -- Novatae Risk Group (“Novatae”) announced today that it acquired Bretton Woods International (“BWI” or the "Company") of London, England.

Key Points:

Dallas, TX, March 12, 2024 (GLOBE NEWSWIRE) -- Novatae Risk Group (“Novatae”) announced today that it acquired Bretton Woods International (“BWI” or the "Company") of London, England.
“We are excited for the next stage of our journey with Novatae,” says Dan Goggin, Managing Director, Bretton Woods International.
Through organic growth and acquisition, the group will offer many great opportunities and will bring new business to the London market, further expanding the Bretton Woods (BWI) offering.”
“Acquiring a well-established Lloyds broker was an important strategic addition to the Novatae expansion plan, says, Richard Kerr, Chief Executive Officer, Novatae Risk Group.
“Bretton Woods International has an exemplary reputation which fits perfectly with our mission to build new Lloyds coverholder facilities that deliver solid profits for our underwriting partners.“
Locke Lord provided legal counsel and Alvarez & Marsal advised Novatae on the transaction.

Palm Tree Names Britton Woolf as Managing Director, Transaction Advisory Services

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火曜日, 4月 2, 2024

Consulting, Professional Services, Finance, Growth, Brigham Young University, Business administration, Alvarez and Marsal, Columbia Business School, Senior, MBA, PwC, Tree

Palm Tree LLC (“Palm Tree”), the modern M&A advisor providing integrated investment banking and financial consulting services to middle market businesses, today announced the appointment of Britton Woolf as Managing Director leading its Transaction Advisory Services discipline.

Key Points:

Palm Tree LLC (“Palm Tree”), the modern M&A advisor providing integrated investment banking and financial consulting services to middle market businesses, today announced the appointment of Britton Woolf as Managing Director leading its Transaction Advisory Services discipline.
“We are excited to leverage his prior experience at large, world-class organizations to enhance our industry insights and bolster transaction discipline at Palm Tree as we pursue further growth and expansion.
Prior to joining Palm Tree, Mr. Woolf held positions with Alvarez & Marsal and PwC.
“Britton is an experienced finance and dealmaking professional with extensive consulting and transaction advisory expertise, possessing a national network of private equity and corporate clients,” said Mitchel Nakken , Senior Managing Director & Co-Head of Consulting at Palm Tree.

Enviva Announces Comprehensive Agreements to Delever Balance Sheet and Strengthen Financial Position

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水曜日, 3月 13, 2024

Forest Products, Energy, Natural Resources, Other Energy, KCC, RSA, Growth, Inc., Lazard, Vinson & Elkins, Alvarez and Marsal, Wood, United States bankruptcy court, Bankruptcy, File, Swedish Royal Academies, Interim, Security (finance)

To implement this pre-arranged restructuring, Enviva and certain of its subsidiaries have commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the Eastern District of Virginia (the “Court”).

Key Points:

To implement this pre-arranged restructuring, Enviva and certain of its subsidiaries have commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the Eastern District of Virginia (the “Court”).
These motions, which Enviva expects to be approved in short order, are expected to help facilitate a smooth transition into Chapter 11.
Enviva expects to continue to pay suppliers in the ordinary course for authorized goods received and services provided after the filing.
Vinson & Elkins LLP is serving as legal counsel; Lazard is serving as investment banker; and Alvarez & Marsal is serving as financial advisor to Enviva.

MCDERMOTT ANNOUNCES COMPLETION OF TRANSACTION SUPPORT AGREEMENT AND AMENDMENT & EXTENSION OF CREDIT FACILITIES

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火曜日, 3月 26, 2024

Letter, Growth, Part, Alvarez and Marsal, McDermott International, LLP, McKelvy, CB, Credit, NautaDutilh, TSA, Kirkland & Ellis, Cryptocurrency

HOUSTON, March 26, 2024 /PRNewswire/ -- McDermott International, Ltd ("McDermott" or the "Company") today announced that it has completed the transactions contemplated by the Transaction Support Agreement ("TSA"), including the successful conclusion of the interrelated Dutch and UK legal processes that support the TSA, full resolution of the Reficar arbitration award related liabilities, and the amendment and extension of McDermott's letter of credit and term loan facilities.

Key Points:

As reported in September 2023, the Transaction Support Agreement reflects strong support of the Company's owners and lenders; extends McDermott's letter of credit and term loan facilities for three years, until mid-2027; and resets McDermott's capital structure for long-term growth and success.
Following that, on March 22, the U.S. Court recognized the Dutch and UK rulings pursuant to Chapter 15.
We have completed the legal processes and the transactions contemplated by the Transaction Support Agreement smoothly and effectively.
Kirkland & Ellis LLP and NautaDutilh served as legal counsel to McDermott; Credit Suisse/UBS served as the Company's financial advisor; and Alvarez & Marsal served as restructuring advisor.

McGraw Hill Appoints Two New Executives to its Senior Leadership Team

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火曜日, 3月 19, 2024

COLUMBUS, Ohio, March 19, 2024 /PRNewswire/ -- Leading global education company McGraw Hill today announced the appointment of two new executives to its senior leadership team. Bob Sallmann will join McGraw Hill as Chief Financial Officer on April 15th, and will be responsible for the company's global financial strategy. Sallmann succeeds Garet Guthrie, who will remain with McGraw Hill through April to support the transition of his responsibilities and complete fiscal year end procedures. David Cortese will join McGraw Hill on April 8th in a newly created Chief Digital Information Officer role, where he will oversee digital platform development, information technology and data analytics for the company. In addition to overseeing McGraw Hill's Digital Platform Group (DPG), Cortese will assume responsibility for the company's Global Technology Services (GTS) group upon the retirement of Angelo DeGenaro at the end of the month. Sallmann and Cortese will both report to Simon Allen, CEO of McGraw Hill.

Key Points:

COLUMBUS, Ohio, March 19, 2024 /PRNewswire/ -- Leading global education company McGraw Hill today announced the appointment of two new executives to its senior leadership team.
Bob Sallmann will join McGraw Hill as Chief Financial Officer on April 15th, and will be responsible for the company's global financial strategy.
Sallmann succeeds Garet Guthrie, who will remain with McGraw Hill through April to support the transition of his responsibilities and complete fiscal year end procedures.
"I'm very pleased to welcome Bob and David to our leadership team in two critical roles that will help continue to position McGraw Hill for long-term growth," Simon Allen said.