TORONTO, ONTARIO, MARCH 2022
Clariti Strategic Advisors™ (“Clariti”) is pleased to announce that Mr. Mike Yarmo is joining us as a Managing Director and Head of our Restructuring/Capital Structure Optimization practice. This business line supports clients looking to optimize their balance sheets and capital stack by pro-actively engaging in negotiated adjustments to their credit facilities and other instruments – in order to preserve and enhance longer term business value.
Mike has nearly 15 years’ experience transforming and repairing companies facing capital structure issues, from both an income statement and a balance sheet perspective. His involvement has ranged from joining a company in a transitional CEO or CRO role to acting as a trusted advisor to senior management. Mike has an exceptional track record, having restructured over 35 companies in 10 distinct industries, where he has routinely enhanced company enterprise/equity value while preserving full value for senior creditors, even during the heights of the COVID pandemic. Through his many engagements supporting distressed companies, Mike has garnered a deep knowledge of the insolvency and bankruptcy regimes and regulations in Canada and the United States and has led many lender negotiations to restructure the balance sheets of the companies he has been supporting.
From 2018-2022, Mike was a Managing Director with Newpoint Advisors, a Chicago based restructuring and turnaround firm, where he specialized in out-of-court workouts. Nominated for the Turnaround Management Association’s 2020 Turnaround of the Year, Mike led the restructuring of a struggling big box retailer, resulting in the company going from posting a significant loss to reporting a substantial profit; Mike also procured a fresh round of new capital to help fuel the company’s future growth.
Prior to Newpoint, Mike led an investor-financed acquisition of a distressed food distribution company, where he became the majority shareholder and ran the company as President. The company quickly pivoted into the frozen foods sector, where it earned higher gross margins and experienced strong growth, which in turn financed additional tack-on acquisitions, cementing the company’s leadership in that niche. The company was sold in 2018 to a larger competitor after nearly 5 years of ownership.
Mike has also acted as interim CFO to several direct-to-consumer start-up companies that have generated over $100MM in revenue and have raised over $250MM in equity capital.
Brendan Paddick, Chair of the Board of Clariti said: “We are thrilled to welcome Mike into the Clariti family. Clariti has a truly differentiated model, one that fits well with Mike’s diverse experience base and entrepreneurial approach to assisting clients.”
Rahul Suri, Founder and Managing Partner of Clariti, added: “We have been searching for a partner to head this business vertical at Clariti for a considerable amount of time – and Mike has proven to be the needle in the large haystack. This role is a unique one, and this business line is a differentiated one. We welcome Mike into the firm with immense pleasure and look forward to a long and rewarding partnership with him.”
“I am thrilled to be joining the Clariti team and working with an extremely talented group of people,” said Mike. “With significant economic and geopolitical uncertainties in our world today, I look forward to helping companies see around the next corner and steer around potential hazards that will impact their businesses.”
Clariti Strategic Advisors™ is a strategic and investment banking advisory firm that provides unsurpassed clarity, creativity, integrity and value to our clients. For further information, please contact any of the Clariti team members whose details can be found at www.claritiadvisors.com
