Renovo Capital Formed to Pursue Distressed and Special Situation Investments
NEW YORK, JANUARY 1, 2009– Mark Barbeau announced today the formation of Renovo Capital, LLC a private equity group focused on distressed and special situation investing in the middle market. Renovo Capital is the formalization of an existing investment practice of certain of the founders of a national leading provider of turnaround and restructuring services.
Renovo Capital will make special situation investments from $2 million to $15 million to secure control equity positions. Primary focus will be operating turnarounds, bankruptcy reorganizations, debt purchases and out-of-court restructurings for companies in the manufacturing, distribution and service industries.
“Renovo Capital is committed to providing strategic direction, management resources and the capital necessary to support companies in times of transition,” said Mark Barbeau, Managing Partner. “We are seeking situations where our expertise in improving financial and operational performance will create long-term value.”
Joining Mark Barbeau as Managing Partners in Renovo Capital are Don Jungerman and Scott Lavie. Their combined areas of expertise include operational and financial restructuring, profit improvement and portfolio management. They have deep experience in crisis management, distressed investing and operational improvement, and have provided critical support for companies undergoing change.
This communication is intended only for informational purposes. This communication nor any attachment thereto is not intended, and should not be construed, as investment advice and does not constitute an offer or commitment, a solicitation of an offer, or any advice or recommendation, to enter into or conclude any transaction. Offers are made only pursuant to a definitive Private Placement Memorandum, Subscription Agreement, or other relevant documentation for the Funds, which contain detailed information concerning the investment terms and the risks, fees and expenses associated with an investment in that Fund. Certain information regarding this communication may have been obtained from third-party sources, including from portfolio companies of funds managed by Renovo. While taken from sources believed to be reliable, Renovo has not independently verified such information and makes no representations about the accuracy of the information or its appropriateness for a given situation. The communication speaks only as of the date indicated or, if no such date is indicated, the date such content is originally posted, and any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in this communication are subject to change without notice and may differ or be contrary to opinions expressed by others. This communication or any attachment thereto is not intended, and should not be construed, as legal, tax, public accounting or auditing advice or opinions. You should consult your legal counsel, accountants and/or tax advisors prior to making any decisions or taking any action concerning the matters in this communication.