Michael Savage, CTP, CIRA

Certified Turnaround Professional

Managing Director

Michael Savage is a Managing Director of NHB Advisors, Inc. in its Boston office.  He has over 13 years of experience as a financial advisor and investment banker to middle market companies and creditors.  Michael has served as a Chief Restructuring Officer, and has experience across a broad range of industries, including retail, manufacturing, distribution, construction, automotive 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 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 led financial restructurings including refinancings, recapitalizations, debt-for-equity swaps, and strategic mergers and acquisitions.

Mr. Savage recently led a turnaround of a regional home improvement retailer.  By closing unprofitable stores early and implementing significant cost cutting actions, the retailer was able to create liquidity, gain support from its lender and withstand the economic downturn.

In addition, Mr. Savage has assisted NHB Advisors, Inc. clients on several bankruptcy sale and refinancings, including Delfasco, NexPak, Interlake Material Handling, Precision Parts International, American LaFrance and Global Motorsports.

Prior to joining NHB Advisors, Inc., 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 in the Oakwood Homes bankruptcy, 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 locations, 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.

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 Turnaround Professional, a Certified Insolvency and Restructuring Advisor, and is a member of the Turnaround Management Association, the Association for Corporate Growth and the American Bankruptcy Institute.  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.