Best New Jersey Turnaround Management Firms
When facing a business downturn, choosing the right turnaround management firm is crucial for recovery and future growth. New Jersey boasts several top-notch firms specializing in turnaround and restructuring services. This guide will explore the best firms, their services, and why they stand out. We’ll also provide contact details and client reviews to help you make an informed decision.
Key Services Offered by Turnaround Management Firms
Financial Restructuring
Financial restructuring involves reorganizing the financial structure of a company to ensure it remains viable and competitive. This process can include renegotiating debt terms, managing cash flow, and implementing new financial strategies.
-Operational Turnaround
Operational turnaround focuses on improving a company’s internal operations. This may involve streamlining processes, reducing costs, and enhancing efficiency to return the business to profitability.
Strategic Planning
Strategic planning is essential for long-term success. This service involves developing comprehensive plans to guide a company’s future direction, ensuring sustainable growth and competitive advantage.
Top Turnaround Management Firms in New Jersey
1. Alvarez & Marsal
Alvarez & Marsal is renowned for its corporate turnaround, interim management, and performance improvement services. With a team of seasoned professionals, they have successfully revitalized numerous businesses.
Contact Information:
-- Website: Alvarez & Marsal
- Phone: (212) 759-4433
- Address: 600 Madison Avenue, New York, NY 10022
Client Review: “Alvarez & Marsal provided the leadership and expertise we needed to turn our company around.”
2. Corporate Turnaround
Corporate Turnaround specializes in helping small businesses manage and restructure their debts. They offer affordable and realistic plans tailored to each business’s needs.
Contact Information:
- Website: Corporate Turnaround
- Phone: (201) 845-5400
- Address: 95 Route 17 S Ste 310, Paramus, NJ 07652
Client Review: “Corporate Turnaround has been a game-changer for our business, negotiating with creditors and helping us manage our debts efficiently.”
3. Aurora Management Partners
Aurora Management Partners is known for its comprehensive approach to turnaround management, providing services such as business consulting, investor services, and corporate governance advisory.
-Contact Information:
- Website: Aurora Management Partners
- Phone: (704) 277-4460
- Address: 112 South Tryon St. Suite 1770, Charlotte, NC 28284
Client Review: “Aurora’s team developed a customized turnaround plan that perfectly addressed our challenges.”
4. Meridian Management Partners
Meridian Management Partners offers award-winning consulting services in corporate restructuring, capital solutions, and strategic consulting. They are adept at guiding financially distressed companies back to profitability.
-Contact Information:
- Website: Meridian Management Partners
- Phone: (412) 364-2606
- Address: 39 Newgate Road, Pittsburgh, PA 15202
Client Review: “Meridian’s professionals were invaluable in navigating our restructuring process, providing expert guidance every step of the way.”
What to Look For in a Turnaround Management Firm
Credentials
- Certified Turnaround Professional (CTP): This certification from the Turnaround Management Association indicates a high level of expertise.
- Certified Insolvency and Restructuring Advisor (CIRA): Offered by the Association of Insolvency & Restructuring Advisors, this credential is another mark of excellence.
- Chartered Financial Analyst (CFA): This globally recognized certification indicates strong financial analysis and investment management skills.
Experience
Experience in specific industries can significantly benefit the turnaround process. Look for firms with a proven track record in sectors similar to your own.
Client Reviews
Client reviews provide insights into a firm’s effectiveness and client satisfaction. Positive testimonials can be a good indicator of reliable service.
Professional Memberships
Membership in organizations like the Turnaround Management Association or the American Bankruptcy Institute shows a commitment to staying updated on industry trends and best practices.
Detailed Table of Top Turnaround Management Firms
| Firm | Services | Contact Information | Client Reviews |
|---|---|---|---|
| Alvarez & Marsal | Financial Restructuring, Operational Turnaround, Strategic Planning | Website | “Alvarez & Marsal provided the leadership and expertise we needed to turn our company around.” |
| Corporate Turnaround | Business Debt Help, Negotiation with Creditors | Website | “Corporate Turnaround has been a game-changer for our business, negotiating with creditors and helping us manage our debts efficiently.” |
| Aurora Management Partners | Business Consulting, Investor Services, Corporate Governance Advisory | Website | “Aurora’s team developed a customized turnaround plan that perfectly addressed our challenges.” |
| Meridian Management Partners | Corporate Restructuring, Capital Solutions, Strategic Consulting | Website | “Meridian’s professionals were invaluable in navigating our restructuring process, providing expert guidance every step of the way.” |
Additional Firms
5. FTI Consulting
FTI Consulting provides corporate finance, economic consulting, and strategic communications services, helping businesses navigate complex challenges and achieve sustainable improvements.
Contact Information:
- Website: FTI Consulting
- Phone: (202) 312-9100
- Address: 555 12th Street NW, Suite 700, Washington, DC 20004
Client Review: “FTI Consulting turned our business around in a matter of months. Their strategic advice was invaluable.”
6. Ankura Consulting Group
Ankura Consulting Group specializes in business transformation, risk management, and corporate restructuring. They offer customized solutions to address each client’s unique challenges.
Contact Information:
- Website: Ankura Consulting Group
- Phone: (202) 797-1111
- Address: 485 Lexington Avenue, New York, NY 10017
Client Review: “Ankura’s team developed a customized turnaround plan that perfectly addressed our challenges.”
Conclusion
Choosing the right turnaround management firm is a critical step in ensuring your business’s recovery and future success. By considering the credentials, experience, and client reviews of each firm, you can make an informed decision that best suits your company’s needs. With the expertise of firms like Alvarez & Marsal, Corporate Turnaround, Aurora Management Partners, and Meridian Management Partners, your business can navigate financial distress and emerge stronger.
For more detailed information, refer to the websites and contact details provided for each firm. Don’t hesitate to reach out for consultations and further discussions to find the best fit for your business’s unique situation.