“Despite an improving economy, there are still companies facing significant operational and financial challenges,” said David Williams, chief executive officer, Deloitte Financial Advisory Services LLP. “Expanding our platform in the turnaround space means we can deliver even more services to our clients while growing our business at the same time.”
Effective immediately, Deloitte’s Reorganization Services Group and the transferring CRG professionals will operate under the name Deloitte Corporate Restructuring Group (Deloitte CRG). William Snyder will co-lead the Deloitte CRG practice with incumbent practice leader, Sheila Smith. Eighteen professionals from CRG Partners have been admitted to Deloitte as principals or directors.
“This transaction provides us with a significant growth opportunity and we welcome our new team members as we work together to drive Deloitte’s expansion in the restructuring marketplace,” said Sheila Smith, national co-leader of Deloitte CRG.
Prior to the acquisition, CRG Partners was a New York-based, leading provider of operational and financial restructuring services, specializing in creating value for the stakeholders of underperforming companies. In 2010, CRG Partners was the recipient of the Turnaround Management Association’s Mega Company Turnaround of the Year Award for its work with Pilgrim’s Pride Corporation. CRG Partners is also credited with successfully managing Major League Baseball’s Texas Rangers through its bankruptcy and sale.
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