DeSilva+Phillips Announces New Operational Restructuring Group

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DeSilva+Phillips, media investment bankers, has launched an Operational Restructuring practice. The practice will advise media companies, private equity funds and commercial lenders who seek assistance with financial performance issues in the current economy and debt markets.

We have known and worked with Jim for a number of years and greatly value his experience and expertise. We are delighted that he will be co-leading our new service practice.

DeSilva+Phillips, media investment bankers, has launched an Operational Restructuring practice. The practice will advise media companies, private equity funds and commercial lenders who seek assistance with financial performance issues in the current economy and debt markets.

By adding a new operational restructuring practice, we augment DeSilva+Phillips' investment banking services in the digital and traditional media markets we serve. In addition to the full range of advisory services we offer to sellers, buyers, lenders and borrowers, we now offer specific recommendations for improving financial performance in this new era of reduced leverage and economic recession and the technological transformation of the media industry.

We were prompted to formally establish our operational restructuring practice in response to the many inquiries we have received in recent months from media companies, private equity firms and commercial lenders for assistance in these areas.

DeSilva+Phillips' operational restructuring services include a comprehensive review and analysis of the subject company's business - including the identification of revenue enhancement and cost savings opportunities, operating efficiencies, incentive compensation plans, investment savings and evaluation of strategic alternatives. Special attention is paid to the development, integration and implementation of digital strategies and tactics. Performance is also benchmarked against industry standards and DeSilva+Phillips' considerable database of media company metrics. Organization structure is reviewed to identify possible efficiencies in process and the management of the overall business. DeSilva+Phillips will advise on divesting assets as required, restructuring of existing debt and/or equity and on raising capital. Assisting clients with bank covenant restructuring and negotiation may play an important part in the outcome of the analysis, and our team has had significant experience in complex credit issues to handle challenges in this area.

DeSilva+Phillips is uniquely qualified among media boutique investment banks to offer this new service. Its partners, managing directors and senior advisors are not only the industry's most experienced media investment bankers, with over 200 transactions completed since 1996, we also share more than 300 years of line operating experience as CEOs, company owners, and financial, advertising and marketing executives in digital and traditional media, including magazine and book publishing, trade shows and healthcare.

DeSilva+Phillips's operational restructuring practice is co-led by Kenneth B. Collins, Partner and CFO of DeSilva+Phillips, and James D. Zielinski, founder of Zielinski Financial Advisors, LLC ("ZFA"), an independent financial consultancy that is affiliated with DeSilva+Phillips.

In announcing DeSilva+Phillips's new operational restructuring service, Roland A. DeSilva, its Managing Partner, noted, "Ken's experience and reputation make him uniquely qualified to lead this new initiative, and his knowledge of financial services will be instrumental in the growth and success of our restructuring practice. He has been with the firm for 13 years and has over 25 years of line operating experience as a senior executive of Macmillan Publishing, American Banker, Investment Dealers' Digest, John Wiley & Sons and CBS Publishing."

James D. Zielinski, the co-leader of the operational restructuring practice, has been assisting companies (as the principal of ZFA) with advice and guidance in several critical areas, including acquisitions, bank financing and profit performance. He has over 30 years experience in financial matters, building a successful career in banking and equity investing for more than 20 years at Chase Manhattan Bank, N.A. and Bankers Trust Company, before becoming Chief Financial Officer for Hanley Wood, LLC, a privately owned business-to-business media company, where he was an owner, director, and executive directing the financial affairs of the company until its sale in 2005. Reed Phillips, Managing Partner of DeSilva+Phillips, says "We have known and worked with Jim for a number of years and greatly value his experience and expertise. We are delighted that he will be co-leading our new service practice."

DeSilva+Phillips LLC is a New York-based investment bank specializing in the media, digital media and healthcare communications industries. The firm provides M&A services and private placements of debt and equity to the magazine, digital media, newspaper, book publishing, trade shows & events, medical and healthcare media, information, educational, and marketing services industries. DeSilva+Phillips has completed more than 200 transactions since 1996. DeSilva+Phillips Corporate Finance LLC is a member of FINRA and SIPC.

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