Gavin/Solmonese Creates, Preserves, and Protects Value Through Top-Notch Turnaround and Restructuring Services

A company undergoing financial distress often hires a turnaround and restructuring company to help restore order in its finances and operations and prevent bankruptcy and liquidation. Business owners spend many years or decades growing their business, and having it go under would be a terrible tragedy for virtually everyone involved, including the employees who will lose a source of livelihood for their families.

Founded in 2012, Gavin/Solmonese (G/S) has worked with hundreds of companies to break down the barriers to their success. G/S has solved some of the toughest business issues through top-notch corporate turnaround, restructuring, and resolution services. These include company-side advisory work, such as chief restructuring officer or financial advisor for distressed companies. G/S also provides fiduciary services, acting as trustees, independent board members, receivers, or assignees for the benefit of creditors.

Edward ‘Ted' Gavin, CTP, NCPM, Managing Director and Founding Partner of Gavin/Solmonese is also a corporate mediator and is often called on to be an expert witness in bankruptcy litigation. From 2018 to 2019, he served as president of the American Bankruptcy Institute.

"I view the firm as an opportunity for me to give very talented people a platform through which they can really shine," Gavin says. "I want every client and constituent to be happy and satisfied, realizing that they’ve gotten value and that we’ve done an excellent job. That means their people and ours have to be able to work together. People have to think aggressively, creatively, and independently." 

Today, G/S is one of the fastest-growing corporate recovery firms in the US. Since its inception, the company has consistently ranked among the leading firms serving the middle market. It has been able to achieve strong improved outcomes for clients by making sure its team is agile and responsive.

Over the years, G/S has received awards for the turnaround of the year or transaction of the year, having come up with creative solutions in difficult cases. It also has a strong track record of courts agreeing with its expert opinions and citing them heavily. Gavin shares that, in a recent bankruptcy proceeding where he was an expert witness, the decision confirmed that the way G/S was doing things was the correct procedure. 

"It’s always nice when a court says that the way G/S did it is exactly the right way," Gavin says. "Those little victories are what build your reputation. However, the reality is that one bad case can also ruin everything you've worked for. So, we make sure to carefully approach each case and do things correctly."

Aside from professional excellence, G/S places emphasis on two other important areas: diversity and philanthropy.

"The key to diversity in any form is to make sure that what goes into the top of the funnel reflects what you want to come out at the bottom," he says. "When we are looking for new people, we intentionally consider the mix of people that we want in the firm. Our work includes things that affect people from various backgrounds, such as women, ethnic minorities, and disprivileged sectors. The process suffers if we don’t have the benefit of those insights, so we want to make sure to include people who come from those backgrounds."

Soon after G/S was founded, it created a philanthropic platform called IMPACT, where all team members can come together with their ideas on causes to support, which includes providing pro bono assistance to small nonprofit businesses that need management help.

A recent example is that G/S helped organize and underwrite Riffs for Remission, a rock and roll fundraiser and networking event for the restructuring community to be held on May 1, 2024, benefiting the Leukemia & Lymphoma Society (LLS). Gavin and Senior Director Jeremy VanEtten will be part of the musical performers at the event. VanEtten identified the opportunity early on and has spearheaded the event. According to Gavin, Riffs for Remission also supports the efforts of Kara Casteel, a Hodgkin’s lymphoma survivor and an attorney who frequently works with G/S, who is in the running for the LLS' Visionary of the Year award.

"It's going to be a fun night of people coming together to do good – all while having a wicked good time. I'm truly amazed at the community support we've had so far, and I can't wait to see what we end up raising for LLS!" Casteel says. 

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