Mayday! Mayday! Mayday! Saving the Vermont Aerospace Company
Jeff Sands, CTP, of Dorset Partners; Larry Schwoeri of American Industrial Acquisition Corporation (AIAC); Jon Verbeck of Verbeck Associates; and Kristin Wainright of Tobin, Carberry, O’Malley, Riley & Selinger were recognized as winners of the TMA Small Company Turnaround of the...
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Kristin Wainright is a partner at the law firm of Tobin, Carberry, O’Malley, Riley & Selinger in New London, Connecticut. Her practice focuses primarily on corporate acquisitions, often in the distressed context. Her law firm clients include national corporations, Connecticut-based corporations, and local businesses. She, along with Joseph Selinger of her office, acted as counsel for the buyers in the Vermont Aerospace acquisition. They continue to represent the company on various corporate matters.
Jon Verbeck is the managing director of Verbeck Associates. The firm provides fractional CFO and business advisory services to companies throughout the United States. Verbeck helps develop strategies and actionable plans that enhance profitability and cash flow for troubled companies, startups, and businesses in need of financial modeling and strategic assistance. He assisted in the due diligence and assisted reorganizing and developing effective financial operations at Vermont Aerospace.
Larry Schwoeri is the managing director of American Industrial Acquisition Corporation (AIAC). He is responsible for several operating businesses controlled by AIAC. He recommended and led the investment in Vermont Aerospace based on a strategy that he developed with the company’s management and Jeff Sands, CTP. Schwoeri performed due diligence, framed the offer, coordinated the legal activities, and negotiated the bank financing, and he remains as CEO managing this successful turnaround.
Jeff Sands, CTP, is the founding member of Dorset Partners. The firm is known for crisis leadership work like the Vermont Aerospace matter and also does general turnaround work, such as serving as the CRO, along with debt restructuring and fundraising. Client companies generally range from $20 million to $200 million in annual revenue. Sands has run, managed, or transitioned dozens of businesses in a variety of industries.
Cathy Reece, moderator, is a partner and chair of the Financial Restructuring, Bankruptcy and Creditors Rights Group with Fennemore Craig in Phoenix. A former TMA Global Executive Board member, Reece has been active at both the global and chapter levels and was a member of the TMA Awards Committee that selected the turnaround of Vermont Aerospace Company to receive the TMA Small Company Turnaround of the Year Award for 2017.
