Tortola into its first turnaround

By Geert De Lombaerde Posted on August 12, 2009 at 7:27 am

Tortola Partners, the turnaround firm formed this spring by Steve Curnutte and Robert Gonzales, is getting to grips with its first portfolio company, an aluminum producer in Alexandria, Tenn. Gonzales, pictured here, is the company’s chief restructuring officer.

“As more and more aluminum processors have filed Chapter 11, or simply gone out of business, scrap dealers have become reluctant to extend trade credit, making it tough for otherwise healthy companies like TriStar,” said Mr. Gonzales. “Now that we’ve filed to reorganize, our trading partners can be confident that obligations going forward won’t get stuck as pre-petition debts.”

permalink | Comment on this post

Tags: bankruptcy, commodities, management consulting, manufacturing, private equity, Robert J. Gonzales, Steven D. Curnutte, Tortola Partners LLC, Tri Star Aluminum Co. LP, turnaround specialists  

How interim bosses can produce lasting results

By Geert De Lombaerde Posted on April 27, 2009 at 11:41 pm

Stefan Stern lays out the pros and cons of bringing on an interim manager to revive your business.

“An interim must go in with the right sponsorship or mandate from the top,” Mr Fishman explains. “If it’s not right, it will often get renegotiated early on in that initial period. These people are movers and shakers, not consolidators.”

permalink | Comment on this post

Tags: interim management, turnaround specialists  

Turnaround specialists

By Kleinheider Posted on December 22, 2008 at 3:05 pm

Eric Baum discusses what government can learn from private-equity with Lynn Tilton, founder and chief executive of Patriarch Partners.

permalink | Comment on this post

Tags: government, private equity, turnaround specialists