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Turnaround Veterans Launch New Firm, CR3 Partners

February 07, 2017, 08:10 AM
Filed Under: New Venture

The leadership of CR3 Partners, LLC, revealed the details of their newly-formed national turnaround and performance improvement firm.  CR3 Partners, founded by renowned industry expert William Snyder, and 17 partners from Deloitte CRG, Chrysalis, Winter Harbor, and BDO launches with more than 40 experienced professionals based out of offices in New York, Boston, Charlotte, Chicago, Dallas, Houston and Irvine. A key constituency of the newly created CR3 Partners is the inclusion of the entire team of East Coast-based Chrysalis Management LLC, led by founder, Cynthia Romano.

The leadership reported that in its first 90 days, CR3 Partners has already been engaged by more than a dozen clients in a variety of industries including light manufacturing, oil and gas, agriculture, building products, architecture and construction, restaurants, consumer products, apparel and nonprofits.  The current client roster also already includes six bankruptcies.

"I am delighted that the band is back together, so to speak," said William Snyder. "Since so many of us have worked well together in the past, the integration has been remarkably seamless, and we've been able to direct our attention immediately to client engagements.  With leadership from the Big 4 and key boutiques alike, our new organization can be responsive to urgent situations and creative in our solutions without being hamstrung by complex regulatory structures, and without costly overhead."

All of CR3's partners have significant track records in building firms, and many have already worked together at the predecessor practices at Corporate Revitalization Partners LLC, CRG Partners LLC, Chrysalis Management LLC and Deloitte.  Snyder, and several CR3 partners, founded Corporate Revitalization Partners (CRP) in 2001 and in 2007 merged with The Recovery Group, Inc. (TRG) to form CRG Partners.  In 2012, CRG Partners was acquired by Deloitte. The third iteration of the "CR brand" CR3, capitalizes on a unique opportunity to leverage this seasoned team of previous CR partners, turnaround professionals and interim managers in the development of new markets.

"Already known individually for our ability to identify and implement operational and financial improvement strategies that quickly deliver measurable results, CR3 Partners is poised to deliver great value to any transition, stressed, or distressed situation," added William Snyder.   "Whether in advisory or interim/transitional CxO roles, CR3 professionals have long been key counselors to middle market companies who need top-tier leadership."

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