Anderson Anderson & Brown LLP (AAB) is pleased to announce the launch of a new Restructuring & Recovery (R2) division which will focus on providing restructuring and turnaround advisory services to SMEs.
The R2 business unit will be headed up by Neil Dempsey, head of restructuring, who is a licensed insolvency practitioner and was previously insolvency director with Begbies Traynor in Aberdeen.
The R2 offering will encompass the following:
- Restructuring – corporate restructuring, debt advisory, recapitalisations, refinancing and accelerated M&A;
- Recovery – turnaround advisory, independent business reviews, creditor negotiations, working capital management, cashflow forecasting, profit improvement and cost savings plans;
- Insolvency – company voluntary arrangements, administration, receivership and liquidation; and
- Solvent winding up of limited companies.
Douglas Martin, partner, commented “Neil is an excellent addition to our Leadership Team at AAB and brings tremendous experience and expertise to our firm. R2 is a natural complement to the wide range of advisory solutions provided by AAB and will allow us to provide additional financial support to SMEs facing difficult times.”
Neil Dempsey added “I am hugely excited at the prospect of joining AAB and by leveraging my knowledge with the firm’s extensive base of clients and contacts believe we can develop R2 into a leading player in the restructuring market in Aberdeen. With a focus on assisting struggling businesses to return to health and identifying critical issues to avoid business failure, but with the ability to use insolvency processes to deal with more critical problems, R2 allows AAB to provide detailed professional advice to businesses at all stages of their business cycle.”
AAB have over 250 people working in specialised teams across 37 different service lines.