Michael W. Savage, CIRA
Managing Director

Michael Savage is a Managing Director of NachmanHaysBrownstein, Inc. (NHB) in its Boston office. He has over 11 years of experience as a financial advisor to middle market companies and secured creditors. Michael has supported several interim CEO and CRO roles, and has experience across a broad range of industries, including retail, manufacturing, distribution, construction, healthcare, finance, consumer credit and telecommunications, among others.

Mr. Savage’s experience includes analyzing and implementing strategic and operational change, including refinement of business plans and redeployment of capital to address changing industry conditions, as well as stabilizing and fixing non-core operations through plant, product and customer rationalization initiatives. He has developed options and solutions through detailed financial and operational analyses, while collaborating closely with management and other stakeholders. In addition to operational turnarounds, he has assisted in financial restructurings including refinancings, recapitalizations, debt-for-equity swaps, and strategic mergers and acquisitions.

Prior to joining NHB, Michael Savage was a Director in the Corporate Finance and Restructuring practice of FTI Consulting, which acquired substantially all of the Business Recovery Services group of PricewaterhouseCoopers LLP where he formerly had held a position. In addition to restructuring services, Mr. Savage provided valuation services and pre-lending due diligence support, as well as litigation support on behalf of expert witnesses.

While at FTI, Michael Savage was advisor to Oakwood Homes, an $800 million manufacturer, retailer and financier, where he helped to formulate the DIP and exit financing models and capitalization, stabilize operations and improve cash flow by closing retail stores, manufacturing sites and the company’s financing arm. He assisted in the sale of non-core assets and with the eventual sale to a strategic buyer, as well as in developing the Plan of Reorganization and Disclosure Statement, and the wind-down operating plan and budget for the estate.

More recently, he supported the CRO of Environmental Elements Corp, a $30 million environmental engineering firm, where he helped to finalize the accounting, stabilize cash flow and evaluate viability. He subsequently developed a sale process for the UK subsidiary, and a wind-down cash management and operating plan and budget for the US parent.

Michael Savage was also a financial advisor to the lending group of a start-up telecommunications construction and long-haul fiber provider with $1 billion in debt, where he monitored the lenders’ position and collateral, helped reduce the borrower’s operating expenses, monitored potential refinancing agreements and supported a sale to a strategic buyer.

He was previously an investment banker, raising capital for middle market companies, while at Crawford & Associates, Ltd., a boutique NASD broker/dealer based in New York.

Michael Savage is a Certified Insolvency and Restructuring Advisor, and is a member of the Association of Insolvency and Restructuring Advisors and the Turnaround Management Association. He received an MBA from the University of Chicago with concentrations in strategy, finance and accounting, and a B.S. from Clarkson University in finance.