Elan has served as financial advisor to companies and investor constituents in engagements that have included financial and operational restructurings for debtors and creditors both in and outside court, mergers, acquisitions, divestitures, and raising capital via public offerings and private markets.
Prior to joining Ankura, Elan was a partner at a private-equity firm focused on value-oriented buyouts and structured-equity investments in the lower middle market, where he was responsible for sourcing, underwriting, negotiating, and overseeing investments.
Earlier in his career, Elan served as a director with Getzler Henrich, a turnaround and restructuring firm based in New York, handling operational and financial restructurings and workouts on behalf of debtors, sponsors, secured lenders, and unsecured creditor committees. This work involved turnarounds, refinancings, asset dispositions, out-of-court sales, 363 sales, and liquidations across a wide range of industries and sectors. His prior investment banking positions include managing the private placement group at SFK Leader International and working as an analyst at Punk Ziegel & Company.
In addition to his financial advisory positions, Elan has held executive roles in the retail and consumer sector. He has served as chief operating officer and board member of a national fitness company, interim CEO and executive chairman of a national beauty service retailer, chairman of a global accessories brand, and interim CEO of a personal care business.
Elan’s restructuring experience has included:
- Diamond and Jewelry Wholesaler and Retailer: Guided the global, vertically integrated company in its pre-filings and throughout the bankruptcy process, including crisis management, forbearance negotiation, business plan development, operational restructuring, bankruptcy preparation and management, and the sale and liquidation of multiple business lines.
- National Fitness Business: Provided interim management, business assessment, and strategic advisory services. Elan also implemented operational improvements and advised on secured debt and equity financing.
- National Radio Station and Radio Network Operator: Worked on the restructuring, including forbearance negotiations, secured debt refinancing, business and strategy assessments, and operational improvements.
- Independent Record Label, Publisher and Distributor: Provided crisis and bankruptcy management services, acted as financial advisor and investment banker in the bankruptcy proceedings, and oversaw a section 363 sale.
- Financial Services Electronic Communication Network (ECN): Advised the unsecured creditors’ committee, conducting financial diligence, analysis, and testimony to facilitate estate recoveries.
- Direct Marketing and Fulfillment Business: Advised the company’s financial sponsor on crisis management, liquidity assessment, and profitability analysis. Elan also instituted cash-flow management tools and controls and supported a secured debt refinancing.
- Fabricated Aluminum Producer: Served as financial advisor to the indenture trustee, analyzing inter-creditor claims and supporting the negotiation of a reorganization plan.
- Fast Food Franchisor: Served as interim management in an out-of-court workout. Elan instituted cash-flow management processes and developed a business strategy, which led to the business’ sale.
- Technology Magazine and Online Publisher: Advised on crisis management and business strategy, implemented cash-flow management and controls, and developed an out-of-court workout with secured lenders and major vendors.
- Manufacturer of Private Label and Branded Chocolates and Nutritional Bars: As the restructuring advisor to the secured lender, assessed liquidity, profitability, and business strategy, leading to the sale of a business line.
- Manufacturer and Wholesaler of Low-Carb Foods and Snacks: Financial advisor handling crisis management, the out-of-court workout, multiple business-asset sales, and an orderly liquidation.
- Imported Glassware Distributor: Advised the secured lender during the profitability and liquidity assessment, out-of-court workout, and debt refinancing.
- Manufacturer and Distributor of Linens and Uniforms: Served as financial advisor in the client’s out-of-court workout, financial and operational improvements, and debt refinancing.
- Designer, Manufacturer and Distributor of Decorative Fabrics and Furnishings: Served as interim management, provided liquidity and profitability assessments, and advised on the out-of-court workout.
- Pediatric Physician Practices and Specialty Pharmacy Operator: Assessed segment and location profitability, instituted liquidity tools, and advised on debt refinancing.