SOURCE: Woodbridge Group

Woodbridge Group

December 08, 2009 15:09 ET

Woodbridge Group Launches Distressed Situations Division

NEW HAVEN, CT--(Marketwire - December 8, 2009) - Woodbridge Group, Inc., an innovative mergers and acquisition firm, has established a new Distressed Situations Division ( to serve the needs of lower middle-market companies that are facing severe financial pressure, including possible bankruptcy or foreclosure. This new division will focus on companies with at least $5 million in assets but will consider situations below that amount on a case-by-case basis. The division can also determine alternative refinance options in the case of an insolvent or stressed financial situation.

Kevin S. Tierney of Workout Solutions, Inc. has been appointed president of Woodbridge's Distressed Situations Division.

The division will advise clients on all aspects of creditor issues, liquidations, restructurings, workouts and other strategic options. It will also develop reorganization plans in close collaboration with insolvency counsel. In addition, the Distressed Situations Division constructs the full range of reorganization plans from an informal composition of creditors through, to and including Chapter 11.

The full resources and capabilities of the Woodbridge Group are available to this new division as we seek to provide creative solutions to our clients in today's economic climate.

Mr. Tierney has represented all forms of debtor or creditor parties since 1970, working through over $3 billion worth of special situations. The first 17 years of his career were spent in commercial banking until 1987 when he went into private practice. He concluded his banking career as the founder and president of two bank subsidiaries. Kevin also served as head of credit policies and procedures and was responsible to the board of directors and federal regulators for the identification and line accountability for the resolution of all special situation assets for a $1.5 billion bank.

In 1987 Kevin formed Workout Solutions, Inc., a firm specializing in analyzing and resolving all manner of difficult financial situations. Although he traditionally represents the interests of the entrepreneurial client, Kevin understands the needs of all other creditor constituencies, which enables him to craft a mutually beneficial resolution. He has acted as an informal mediator and/or receiver, and as a bankruptcy court approved chief restructuring officer. Kevin is a member of the board of directors of the Connecticut Chapter of the Turnaround Management Association, a 9,000 member international organization dedicated to corporate renewal and turnaround management.

Woodbridge Group provides sell-side, buy-side, distressed situation and capital raising services to businesses with $5 million to $100 million in sales. The firm operates out of 14 locations: Connecticut, New York, New Jersey, California, Massachusetts, Illinois, Georgia, North Carolina, Texas, Washington, D.C., the Netherlands, Mexico, Canada and Brazil.

Woodbridge Group, Inc., a unique marketing-driven M&A firm, was founded in 1993 to provide divestiture and acquisition services to middle market companies.

Contact Information

  • Contact:
    Robert M. Koenig
    Woodbridge Group
    203-389-8400 ext. 202