Saturday, 3 Dec 2022

The Carnrite Group Joins Alvarez & Marsal

The combination builds upon A&M’s strength in the energy industry

HOUSTON, Nov. 08, 2022 (GLOBE NEWSWIRE) — Leading global professional services firm Alvarez & Marsal (A&M), has announced it is integrating successful energy consultancy, The Carnrite Group, into its energy practice. The move, which includes the addition of 20+ new employees to A&M’s U.S. Energy Practice, bolsters the firm’s proven track record for maximizing enterprise value for corporate and private equity clients in the industry.

“A&M has worked adjacent to The Carnrite Group teams over the last 17 years while serving energy industry clients, and we deeply admire their capabilities and the value they’ve created for the companies we serve,” said Lee Maginniss, lead for A&M’s U.S. Energy Practice. “Together, we will bring increased leverage and expertise to help our energy clients navigate the uncertainty and massive change inherent to today’s market.”

The Carnrite Group is a management consultancy focused on energy, industrial and private equity sectors. Since 1991, The Carnrite Group has helped clients achieve financial and operational performance goals, build successful organizations and create sustainable, resilient businesses. Alan (“Al”) Carnrite, The Carnrite Group’s Founder and CEO, and Nicholas (“Nick”) Carnrite join A&M as Managing Directors. Their experience builds upon A&M’s existing transformation, performance improvement, buy- and sell-side transaction, and turnaround and liquidity management capabilities.

Al Carnrite brings over forty years of industry and consulting experience as a trusted advisor to executive leadership across the energy, industrial and private equity sectors. Nick Carnrite specializes in corporate strategy, business transformation, and sustainability strategy, and has worked extensively across North America, Europe and the Middle East since joining The Carnrite Group in 2011. Al and Nick are joined by an experienced team of professionals, including Geoff AnguloGillian TilburyNolan KingChris ChiaSteve Cobb, and Kyle Vano, who are joining A&M as Senior Directors.

“We are excited to join a firm with A&M’s credibility and reputation for delivering real results to clients across the Energy ecosystem,” said Al Carnrite. “A large part of our success to date has been an unwavering belief that deep, hands-on experience in these sectors is critical to driving sustained value for our clients. A&M shares in this belief and brings a similar model to market.”

Mr. Maginniss added, “Energy Transition, digitalization, geopolitical and social pressures – as enormous as the complexity is, so too is the opportunity to drive value. Together we will help our clients deliver the financial results and the breakthrough growth they seek.”

The Carnrite Group’s Europe and Middle East businesses will continue to operate under The Carnrite Group brand during the initial integration period, while collaborating extensively with A&M. Carnrite Ventures will continue to operate as a standalone business.

About Alvarez & Marsal

Companies, investors and government entities around the world turn to Alvarez & Marsal (A&M) for leadership, action and results. Privately held since its founding in 1983, A&M is a leading global professional services firm that provides advisory, business performance improvement and turnaround management services. When conventional approaches are not enough to create transformation and drive change, clients seek our deep expertise and ability to deliver practical solutions to their unique problems.

With over 7,000 people across five continents, we deliver tangible results for corporates, boards, private equity firms, law firms and government agencies facing complex challenges. Our senior leaders, and their teams, leverage A&M’s restructuring heritage to help companies act decisively, catapult growth and accelerate results. We are experienced operators, world-class consultants, former regulators, and industry authorities with a shared commitment to telling clients what’s really needed for turning change into a strategic business asset, managing risk and unlocking value at every stage of growth.

To learn more, visit: AlvarezandMarsal.com. Follow A&M on LinkedInTwitter, and Facebook.

CONTACT: Sandra Sokoloff, Senior Director of Global Public Relations, Alvarez & Marsal,
+1 212- 763-9853 (ssokoloff@alvarezandmarsal.com)

GlobeNewswire Distribution ID 8692048

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