Practice Area
Hands-on turnaround, performance improvement, and interim management for middle-market companies, lenders, and stakeholders during times of transition, opportunity, or distress.
Overview
CMBG's turnaround practice serves middle-market organizations and stakeholders across a broad range of industries during times of transition, opportunity, or distress. Our professionals are experienced, hands-on, and collaborative — with a bias toward not just stabilizing but also transforming businesses that are facing financial and operational challenges.
We work side-by-side with management, boards, lenders, and equity holders to diagnose the real issues, build a credible plan, and drive the execution required to restore performance and protect enterprise value.
Whether the engagement calls for an independent business review, a full operational turnaround, or interim leadership in the C-suite, our team brings the cross-industry experience and judgment needed to make difficult decisions clearly and quickly.
Operating Principles
We embed alongside management to drive execution. Slide decks don't change outcomes — disciplined daily decisions do.
Bringing learning across industries accelerates change and helps us avoid insular thinking. Industry experts are on every project, but breadth is part of the team by design.
Turnarounds reward speed, but only when paired with rigor. We move quickly without skipping the diligence that makes the plan credible to lenders, boards, and employees.
Successful turnarounds rebuild trust with lenders, customers, vendors, and employees in parallel. We keep that alignment visible in every plan and update.
Why Timing Matters
Turnarounds reward early action, disciplined execution, and the willingness to bring in operating leadership when the team needs more capacity. These figures help frame why proactive engagements tend to produce stronger outcomes for companies and lenders alike.
20k+
businesses file for bankruptcy annually in the US
50%
of small businesses fail within 5 years
70%
higher survival rate for companies that restructure early
40-60%
reduction in creditor losses through proactive restructuring
80%
of businesses working with consultants achieve better outcomes
Capabilities
Seasoned operators who can step in as Chief Restructuring Officer, interim CFO, or interim CEO to lead the company through a turnaround with the authority and accountability the situation demands.
Margin expansion, cost reduction, working capital optimization, and operational redesign for healthy companies looking to improve and distressed companies looking to survive.
Independent business reviews, viability assessments, and negotiation support for banks, private credit funds, and other capital providers exposed to underperforming borrowers.
Footprint rationalization, supply chain redesign, SKU and customer rationalization, and back-office consolidation to align the cost base with the realistic revenue picture.
Rolling 13-week cash flow forecasting, treasury controls, vendor stretch playbooks, and disbursement governance to extend runway and create the time required to execute a credible plan.
Sale-process readiness, carve-out execution, and strategic alternatives analysis for companies positioning for a refinancing, recapitalization, or change-of-control event.
Methodology
When to Engage Us
Companies missing budget for several quarters in a row, where the leadership team needs an outside perspective on whether the issue is market, model, or execution — and what to do about it.
Businesses where cash conversion is slowing, covenants are at risk, or the lender has asked for a third-party view before considering an amendment, waiver, or new facility.
Private equity portfolio companies that need rapid stabilization, an interim operator, or a credible plan to defend value before a recapitalization or sale process.
Owners and boards preparing for a sale who want to clean up cost structure, demonstrate margin trajectory, and remove diligence risk before going to market.
Banks and private credit lenders that need an independent business review (IBR) of an underperforming borrower, with a clear view of viability, downside, and recovery alternatives.
Companies where a recent acquisition or roll-up is underperforming, integration has stalled, and the combined business needs an operational reset to deliver the original investment thesis.
Industry Experience
Our team blends deep industry experience with cross-sector perspective. That combination is part of why turnaround plans we build hold up in lender meetings, board rooms, and the operating floor — not just in the conference room.
Related Resources
These related videos and case studies highlight the kinds of operational, financial, and stakeholder situations where hands-on turnaround work creates the most value.
FAQ
Turnaround engagements move fast and touch every part of the business. These FAQs cover timing, scope, interim leadership, and how we work with management, lenders, and boards.
Let's talk about what's happening in your business and where a hands-on turnaround team can help most.
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