Alvarez and Marsal (A&M), the global corporate restructuring group which specialises in assisting portfolio companies of private equity funds, has appointed former Clayton Dubilier & Rice senior advisor Vincenzo Morelli as managing director.
Morelli will head the firm’s newly launched global equity sponsor support group in Europe. The group has evolved primarily from A&M’s work across Europe and will be extended across A&M’s operations in the USA and Asia. The unit is yet to appoint a US head.
The equity sponsor support group will work with private equity firms and corporate investors on operational and financial issues at companies they control, both before and after investments are made. The firm also intervenes on behalf of control shareholders to help restructure and manage challenged portfolio companies.
“We will provide selective due diligence assistance, tailored financial management systems, performance improvement implementation services as well as working with firms to identify opportunities for productivity increases and working capital reductions,” said Morelli of the new unit. A&M has already worked on assignments for Fairchild Dornier, Bridge Information Systems, Timex, Western Union and Mobile Media.
Prior to joining A&M, Morelli was a senior advisor to Clayton, Dubilier & Rice, the US private equity firm. He was responsible for coordinating, alongside Cisco Systems and CD&R, the $1bn joint acquisition from Telecom Italia of Italtel, where he served as vice-chairman. Morelli also spent seven years with General Electric.