Another M&A Firm Offers ‘Restructuring Advice’
Berkery Noyes partners with restructuring advisors Seneca Financial Group.
Berkery Noyes has become the latest investment banking firm to offer restructuring advisory services.
As part of a partnership with Seneca Financial Group, Berkery is targeting struggling media companies serving the education, health, pharmaceutical, b-to-b and financial service industries, the firm said in a statement. Services will include developing business models to “reflect the realities of the current economic and financial marketplace,” as well as deal with balance sheets that are “over-leveraged by today’s standards.”
“We believe the likelihood of a successful restructuring is greatly enhanced by having a team comprised of professionals who understand a business and its industry in a granular sense and the capability to devise and implement a successful restructuring plan,” Berkery COO John Shea said.
Late last year, investment bankers DeSilva + Phillips launched a restructuring advisory service targeting media companies, private equity funds and commercial lenders.
Seneca Financial, a New York-based restructuring advisory firm, was founded in 1993 by former Lehman Bros. managing director James Harris.