Riveron Launches New Turnaround Practice: Debtwire Exclusive
Riveron is opening its new recovery and transformation services practice, according to a statement provided to Debtwire. Jared Yerian will lead the effort as executive managing director, alongside managing directors Bill Fasel and Scott Mell. Yerian previously served as a partner at Mckinsey & Company, as well as managing director at M-III and AlixPartners, according to the firm’s website. The practice will offer services in corporate transformation, restructuring and creditor advisory, as well as in executive management transition and distressed transactions.
The above is part of an exclusive from Debtwire, an Acuris company. To see the full article please click here.
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Riveron takes on a leadership role to navigate a company through a period of distress
In 2015, the parent entity of Terraform Power and Terraform Global, owners and operators of renewable energy power plants, declared bankruptcy. This event necessitated a sale of both entities. Riveron was engaged shortly after the bankruptcy to ensure continuity of operations, implement process improvement initiatives and ready the organization for the eventual divestiture. For Terraform Global, Riveron took over key roles and responsibilities, including interim accounting leadership and worked for over a year to keep the organization running and streamline financial reporting processes while partnering with management to assist with the strategy and execution of the sale process. When the sale was complete, Riveron transitioned its roles to the new owning entity, providing five months of ongoing and transition support.