Reston, Va. WWC Capital Group announces the formation of a restructuring and turnaround practice. WWC is a merchant banking firm that includes a middle market investment banking boutique and a private equity fund management business.
The addition of a restructuring practice augments WWC's investment banking services in the markets it serves, and offers companies, investors, and lenders assistance in optimizing their alternatives in this new era of reduced leverage. These financial advisory services include the following: evaluation of strategic alternatives, raising capital, divesting assets as required, restructuring of existing debt and/or equity. More information about WWC's restructuring practice can be found here.
WCC recently hired Michael S. McHugh to co-lead the restructuring practice in its investment bank. McHugh was formerly a Managing Director at MCG Capital Corporation and a Senior Vice President at GE Capital. He has significant experience in distressed lending and over 12 years experience in the Media, Communications and Entertainment market. Jonathan Wallace, a WWC co-founding partner, commented “Mike's experience and reputation is a timely addition to the talent at WWC. His knowledge of financial services will be instrumental in the growth and success of our restructuring practice.”
In addition, in order to offer a more complete solution to companies in need of restructuring, WWC has also formed, Reficio Associates, a joint venture with Francis X. Ryan to provide crisis management services to middle market companies. Ryan is a well known middle market turnaround expert. He has a long-term track record of successful client projects in the manufacturing, distribution, financial services and technology markets. He is also the principal owner of F. X. Ryan & Associates, an interim CFO services firm for middle market companies, and Semper Finance, a private investment company focused on the financial services market. Mike Cromwell, a WWC co-founding partner, commented “I have known Frank for over 20 years and he has an extraordinary ability to apply business insight while showing grace under pressure in crisis management circumstances.” More information about Reficio Associates' crisis management services can be found here.
WWC Capital Group's registered broker-dealer, WWC Securities, recently announced the completed sale of Flight Explorer, a leading provider of Commercial Aircraft Situation Display (ASD) solutions providing real-time tracking, reporting, and display of enroute aircraft, to Sabre Holdings. Other recent successful investment banking mandates completed by WWC included the sale of Claraview, Inc. to Teradata, and the recapitalization of PSS, Inc. by a group led by CM Equity Partners. In WWC Capital's private equity capital fund management business, the firm had a successful exit from ServiceBench, which was sold to NEW earlier in the year. Existing portfolio companies include AWS Convergence Technologies, BioPay Paycheck Secure, Brightdoor Systems, Catalyst IT Services, DoublePositive, First Equity Card, Genesis Financial, Preferred System Solutions, and Social Solutions.
