Derek Pitts Joins Peter J. Solomon
To Serve as New Head of Restructuring
Investment banking advisory firm Peter J. Solomon Company (PJSC) today announced the appointments of Derek C. Pitts as Managing Director and Head of the firm’s Restructuring and Recapitalization Practice, and S. Daniel Gissinger as a Director within the practice. Mr. Pitts comes to PJSC from Houlihan Lokey, where he served as a Managing Director in the Financial Restructuring Group. Mr. Gissinger was a Director at Houlihan Lokey until 2015, when he joined Heritage Global. They join Anders J. Maxwell, a longtime Managing Director at the firm in the restructuring practice. Additional members have also been added as part of a broad and continuing expansion of the existing restructuring team.
“PJSC has advised on some of the largest and most complex restructuring transactions over the past two decades,” said PJSC Founder and Chairman Peter J. Solomon and PJSC CEO Marc S. Cooper in a joint statement. “Over the years we’ve had the opportunity to observe Derek’s insights and the creative solutions he’s delivered on key restructuring mandates. We are excited to see our practice develop further under his leadership. As companies contend with a difficult operating environment, with Derek and Dan on board, along with the rest of our advisory team, we are able to provide clients crucial guidance with respect to their restructuring, recapitalization and other troubled-company situations.”
A seasoned advisor with more than fifteen years of experience across the restructuring and distressed debt advisory landscape, Mr. Pitts has represented debtors and creditors on a number of high-profile restructuring, capital markets, M&A, and special situation engagements. In addition to domestic transactions, he has led cross-border financial restructurings in Europe and Latin America. His broad transaction experience comprises companies from the energy, textiles, retail, apparel, consumer products, restaurants, and general industrial industries, including Enron Corp., Spectrum Brands, AMF Bowling, Stolt-Nielsen, Lionel Trains, Global Power Equipment, YRC Worldwide, Buffets, Salton, Barneys, Ahern Rentals, Wet Seal, RadioShack, American Apparel, Comark, Brookstone, Quiksilver, American Seafoods, Deb Shops, and Everywhere Global, Inc. Messrs. Pitts and Gissinger worked together for close to ten years and during those years they jointly advised on numerous restructuring transactions.
Mr. Pitts commented, “Peter J. Solomon Company has a deep-rooted legacy of being a trusted advisor in the transformation events of their clients. Complex capital structure situations, including restructuring and recapitalization needs, are areas where trusted advice, guidance and execution are crucial to successful outcomes. With the new opportunities afforded by the Natixis relationship and the continued growth of the firm, I am excited, and honored, to be able to lead and grow this key practice area to ensure that clients continue to achieve the impressive results that PJSC has been delivering for almost thirty years.”