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Press  |  05/01/2020  |  Iris Dorbian

Accordion Recruits Two as Managing Directors For Team

As Seen in PE Hub: Accordion Recruits Two as Managing Directors For Team

Accordion, a private equity financial consulting and technology firm, has hired Allen Schaar and Sanjay Purohit as managing directors for its performance improvement and restructuring solutions practice. Previously, Schaar was an operating partner at Highlander Partners while Purohit is a former managing director at M-III Partners, LM+CO, and Probot Ventures.

PRESS RELEASE

NEW YORK, April 30, 2020  — Accordion, the private equity financial consulting and technology firm, today announced that it has made two significant hires, further expanding its Performance Improvement & Restructuring Solutions (PIRS) practice. Allen Schaar and Sanjay Purohit have joined Accordion as Managing Directors within PIRS, extending the breadth and depth of the firm’s ability to improve the trajectory of underperforming and distressed companies, particularly those within a private equity environment.

The PE Hub Network
This article was published in PE Hub in April 2020.

Accordion’s restructuring platform is unique to the market. It is differentiated both in terms of the lens with which Accordion approaches restructuring, and the expertise and operational acumen it brings to bear.

Said Rishi Jain, Managing Director and Head of Accordion’s Performance Improvement & Restructuring Solutions Practice: “We are, uniquely, on the side of equity – and work quickly to provide clients with critical visibility, followed by tactical assistance to actively manage liquidity. We bring a cross-functional approach to our at-risk clients. Beyond restructuring, we pull in expertise from across the private equity lifecycle, including accounting and strategic financial planning and analysis. That’s a fundamentally different restructuring playbook – one that seeks to avoid Chapter 11 scenarios.”

And, continued Jain, “Allen and Sanjay are fundamentally different restructuring advisors. They’ve each spent years in the trenches: rolling up their sleeves as interim executives, advisors, and restructuring officers to help companies drive value. They bring to Accordion deep value stabilization expertise at a time when our clients need it the most.”

Based in Dallas, Allen Schaar joins Accordion’s PIRS practice as a Managing Director. Schaar brings nearly four decades of value creation experience, the last 20 years of which have focused on the turnaround of underperforming or highly distressed middle market companies. Schaar most recently was an Operating Partner with Highlander Partners and an independent sponsor making middle market investments. He has also served as a Partner with Bain & Company, leading its Corporate Renewal Group (CRG) Practice, AlixPartners, and Booz Allen Hamilton. Over the course of his career, he has been a turnaround advisor, CEO, control investor, strategy consultant, and a transformation leader. Schaar has worked in a broad set of industries including manufacturing, consumer products, healthcare, retail, technology, and business services.

Sanjay Purohit joins Accordion as Managing Director in PIRS, with nearly two decades of experience leading performance improvement projects, both in interim CEO and restructuring advisory roles, and in various sectors including retail, manufacturing, auto ancillary, logistics, and technology. Before joining Accordion, Purohit spent 16 years in the performance improvement and restructuring field, working with corporations, restructuring firms, and private equity sponsors. He was previously a Managing Director at M-III partners, LM+CO, and Probot Ventures. There, he led the execution of restructuring and performance improvement projects and strategic advisory engagements for a wide range of clients, globally.

Concluded Jain, “Accordion is committed to helping sponsors and equity holders navigate this period of unprecedented uncertainty. The addition of Allen and Sanjay to our PIRS team makes Accordion even more uniquely positioned to help sponsors and management teams respond to the novel disruptions and financial implications of a post-COVID19 marketplace.”


ABOUT ACCORDION

Accordion is the go-to partner to the private equity community – driving value creation through financial consulting services and portfolio operations technology. Harnessing expertise from decades of advisory and operational leadership roles, Accordion provides cross-functional, on-the-ground support to propel critical outcomes at private equity-backed companies. Accordion serves the world’s premier private equity firms and their portfolio companies from offices in New York, San Francisco, Boston, Charlotte, and Dallas.

Accordion recruits two as managing directors for team | PE Hub

Accordion, a private equity financial consulting and technology firm, has hired Allen Schaar and Sanjay Purohit as managing directors for its performance improvement and restructuring solutions practice.

pehub.com