Company-Side Advisory Services

Turnarounds and Interim Management: Revitalizing Your Business

Effective turnarounds and interim management are crucial for businesses facing downturns or undergoing significant transitions. Gavin/Solmonese specializes in providing the expertise and decisive action necessary to steer companies back on track. Our approach combines swift, hands-on leadership with a strategic vision to ensure sustainable recovery and growth.

The Importance of Turnaround Management

When a company faces financial distress or operational challenges, immediate and informed action is essential to prevent further decline. Our turnaround management services are designed to diagnose the root causes of distress and implement corrective measures. This involves a comprehensive assessment of the distressed company’s financial health, operational efficiency, and market position.

The Turnaround Process

1.

Warning Signs

Turnarounds start when trouble becomes too big to ignore—missed targets, rising debt, shrinking margins. Spotting the signals early is essential.

2.

Establish the Turnaround Team

Success depends on a strong team with authority, focus, and credibility. This group must act fast and lead with clarity.

3.

Analyze Cash and Operations

Cash is king. We assess where money is coming from, where it’s going, and where operations are falling short.

4.

Stabilize the Business

Before recovery, we stop the bleeding. Immediate steps restore liquidity, protect value, and calm stakeholders.

5.

Sell the Plan

No plan works without buy-in. We help leadership build support from employees, lenders, and investors.

6.

Restructure Operations

This is where change gets real. We realign the business—cutting costs, focusing on what works, and exiting what doesn’t.

7.

Restructure the Balance Sheet

Debt must reflect reality. We renegotiate terms or pursue formal restructuring to regain financial footing.

8.

A Self-sustaining Business

The goal: a stable, focused company built to grow—without crisis management.

Interim Management: Expertise When You Need It Most

Interim management offers a flexible solution by placing experienced leaders in critical roles within the organization. Seasoned professionals bring a wealth of knowledge, independent objectivity, and a fresh perspective, enabling them to tackle complex issues with confidence. Gavin/Solmonese provides interim managers who are not only experts in their fields but are also adept at integrating seamlessly into your organizational culture. Read more about what to look for in a Chief Restructuring Officer (CRO).

A Structured Approach to Recovery

Our structured approach to recovery begins with an in-depth analysis of your current situation. Gavin/Solmonese works closely with your team to develop a tailored action plan that addresses both immediate needs and long-term objectives. From stabilizing cash flow to renegotiating debt and improving operational efficiencies, our strategies are designed to create a solid foundation for future success.

Partnering for Long-Term Success

Ultimately, our goal is to not only guide your company through immediate challenges but to position you for sustainable success. Gavin/Solmonese believes in empowering your leadership team with the skills and strategies necessary to navigate future challenges independently. Our collaborative approach ensures that once we step away, your organization remains resilient and poised for growth.

Featured Case Study

Industrial Turnaround Success: Masten Space Systems

Challenge: An aerospace manufacturing company was in deep operational and financial distress, struggling with insufficient revenues, inefficient production, and mounting debt. Stakeholder confidence was eroding, nearly $100 million of taxpayer dollars were at stake, and a successful exit seemed out of reach without decisive intervention.
Our Role: Gavin/Solmonese stepped in first as strategic advisor and asset sale and interim management partner. We deployed a cross-functional team to assess the company’s financials, operations, and market dynamics. Our team, working closely with the remaining management, crafted a turnaround strategy focused on cost containment, operational streamlining, and debt restructuring—laying the groundwork for both stability and sale-readiness. To finance a chapter 11 restructuring, we found creative ways to monetize illiquid assets and worked in conjunction with the company’s largest supplier to utilize the company’s advance payments on a future launch to provide the basis for both an asset sale and debtor-in-possession financing.
Result: Through targeted operational improvements, the company saw a 20% boost in production efficiency. Debt restructuring efforts cleaned the balance sheet and, with the business stabilized and a path to profitable performance, Gavin/Solmonese guided the successful sale of Masten Space Systems to Astrobotic Technology—an outcome that earned national recognition for excellence in turnaround execution.
Impact: This engagement demonstrates how decisive interim leadership, paired with rigorous financial and operational strategy, can rescue a company in crisis and deliver value for all stakeholders. Gavin/Solmonese’s leadership not only restored performance but positioned the company for a successful future under new ownership.