Middle market companies encountering crisis rarely have the management resources in place to meet the challenge. Even rarer is having the know-how to correctly prioritize, strategize and then execute the very specific tactics to quickly navigate through the current situation to end-up in a much better place. Riverbend Restructuring Advisors is exactly that place to find the hands-on management team capable of stepping into a troubled company, integrating quickly into operations and assembling the action plan for what’s needed and necessary. Our managers don’t shy away from a company in crisis – in fact, they embrace that crisis with time-is-of-the essence mentality.
Riverbend Restructuring Advisors can supplant management in the C-suite and has numerous case histories in which our managers have done so; quickly integrating with an incumbent team and immediately developing a recovery plan for the business.
The firm has been purpose-built to address interim executive management needs by providing experienced managers that can do (and have done) the following:
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Interim C-level managers (CEO, CFO, COO, CRO) who have the situational awareness to address the company’s challenge head-on, and the industry experience to be directly relevant to the operating company’s financial, operating and credit profile.
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As the operating plans unfold and performance improves, our managers are excellent recruiters – as well as the natural recruiters - to replace themselves with long-term leadership. They know the job requirements, they know the cultural environment and certainly they can be a positive influence during the transition.
We use a reasonable and competitive, middle-market fee structure that can be rolled into one engagement with Riverbend's other service verticals. Performance and success fees can be part of the value stream in which the firm aligns its interests with stakeholders.
Riverbend Restructuring Advisors provides interim, executive managers that adeptly report to Boards of Directors, liaise with lenders and equity holders and provide surge resources to meet the extraordinary challenge of a business under going crisis.
Additionally, our managers have extensive experience navigating not only the financial challenges, but also the numerous regulatory, legal and industrial challenges that often come in concert with the under-performance of an operating company. Our experiences include defending SEC investigations, various forms and types of white-collar criminal investigations, ITAR investigations, EPA investigations, whistle-blower investigations, just to name a few.
The firm’s managers have significant experience in revenue generation/top-line improvements, cost reduction programs of many kinds/types, staffing increase and reduction plans to address surge requirements for turnarounds. The M&A process has become a common-place business process for an under-performing company and our interim managers are very fluent in supporting a sell-side process – including capital raises/recapitalizations to enable the M&A process.
Tim is a proven interim executive, having spent more than 25-years managing and improving operations at underperforming companies. Tim’s success has primarily been through his operations-based focus for clients and sponsors, navigating change and transition from inside the management ranks of a troubled company. His expertise in the financial and operational facets of business enables him to add significant value in turnaround situations as he is skilled at resolving complex banking, regulatory and legal issues that exist for many troubled companies.
Tim has served in a variety of C-level positions, enabling him to successfully develop and execute financial and operational restructuring plans. His industry experience includes aerospace, transportation, construction contractors, consumer products, healthcare, industrial, apparel, and telecommunications.
Prior to joining Riverbend, Tim had been associated with SierraConstellation Partners, a national interim and crisis management firm, since its formation in 2012. His turnaround experience started with Buccino & Associates, Inc., a Chicago-based operational turnaround firm, where he was once named “Associate of the Year.” He then joined Connecticut-based restructuring firm Nightingale & Associates, LLC and became a partner in 2003.
Tim holds a bachelor’s degree in business administration from the University of South Dakota and an MBA from Pepperdine University’s Graziadio School of Business.
TIM HASSENGER
MANAGING DIRECTOR
An under-performing or troubled company faces extraordinary challenges requiring a unique skill-set, that an incumbent management team often lacks, in order to navigate successfully.
Situational awareness of existing managers is typically poor; partially due to lack of experience with the breadth and magnitude of the company's dynamics. An incumbent team is often too closely tied to a management/operating plan whose timing and outcomes are not harmonized with the quickly moving dynamics of capital providers and other stakeholders. We often hear that incumbent managers “don’t get it” from stakeholders of every kind.
Our interim executives are typically full-time, on-site functional managers, accustomed to Board reporting, P&L and Balance Sheet responsibilities; and are much more effective as hands-on managers (or Board members) not advisors; we are not a consulting practice.
We offer a “low leverage” model in that we don’t delegate key-man responsibilities to other associates in our firm. Further, we typically report to Boards of Directors in a fashion that they, and the operating company, are already accustomed.
Riverbend Restructuring Advisors works from an engagement letter that defines the work scope and governance to which the interim manager will be performing.
Basic engagement guidelines include commercial terms (professional fees, work scope, etc.) and term of engagement, which typically can be terminated by either party simply on written notice, along with standard officer or director indemnifications.
8333 Douglas Avenue, Suite 1200, Dallas, TX 75225
Email: thassenger@riverbendsolutionsgroup.com
Tel: +1 (213) 447-2078
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Comprehensive crisis-management solutions for the middle market
Riverbend Restructuring Advisors provides experienced, interim executives to meet the extraordinary challenges of a business encountering financial and/or operational crisis.