Cynthia Romano, CTP

Cynthia Romano specializes in transformations, transactions, and turnarounds that enhance liquidity, profitability and enterprise value. For more than 25 years, Ms. Romano has successfully guided companies from where they are to where they want to be, whether they are innovating, in need of a tune-up or in significant distress. Her industry experience spans healthcare, real estate, technology, professional services, manufacturing, energy and not-for-profit engagements.

Partnering with the C-suite across functions, Cynthia helps companies transform their bottom line to maximize value for owners, investors and other stakeholders. Her expertise includes liquidity management, profit improvement through operational restructuring, organizational and process redesign, capital sourcing and business and creditor workout and management. Historically, her work has created a ten-times return on investment for her clients of within 24 months.

Cynthia has been recognized with multiple prestigious industry awards including 2021 Turnaround of the Year (Global M&A Network), 2020 Turnaround and Transaction of the Year (Turnaround Management Association) and 2020 Out-of-Court Restructuring of the Year (Global M&A Network). In 2021, she was named one of the top women in asset-based lending by ABF Journal. She is a frequent speaker for various industry associations on a wide range of topics and is regularly quoted in major news and business outlets including Bloomberg, Debtwire, CFO.com, Accounting Today and Modern Healthcare.

Relevant Experience:

• Chief Restructuring Officer (“CRO”), for a multi-state health network: improved EBITDA by $19 million in 6 months, stretched 8 weeks of cash over 8 months, achieved a creditor standstill out of court, and orchestrated a strategic sale at 10-times improved EBITDA, which repaid all creditors and saved 1,300 jobs.
• Buy-side Advisor for a state hospital system: pre-deal analysis showed the target pro-forma to be much worse than stated, such that planned synergies were not achievable. The buyer modified its offer, and ultimately walked away to preserve its own profitability.
• CRO for a global biotech company: with revenue down 50% from the prior year, Ms. Romano identified and implemented operational improvements of $10 million within one year, which restored profitability and cash flow and created a foundation to re-grow revenue.
• Financial Advisor for a multi-state skilled nursing facility (“SNF”)/assisted living facility (“ALF”) portfolio: transformed the portfolio financially and operationally - facility by facility - resulting in improvement to profitability and cash flow, sufficient to de-lever the organization by around $100 million in senior debt, about $60 million of mezzanine debt, and about $30 million trade debt.
• Financial Advisor to debtors (NYC), for a multifamily residential property: oversaw the international mediation and negotiated a resolution between the impaired secured parties, successfully selling the asset sale for $506 million, the largest single-asset multifamily sale in the U.S. in three years.
• Financial Advisor for a high-end private golf club: successfully negotiated and closed the secured debt purchase by high profile member-residents, which avoided a foreclosure on and a take-public of the club and its affiliated residential real estate portfolio. During negotiations, Ms. Romano oversaw club operations (course, food and beverage, fitness center) to ensure efficient use of lender’s cash.
• CRO Manager of Flatiron Hotel (NYC): oversaw the CRO who operated the Flatiron Hotel during its bankruptcy and subsequent sale; ensured that cash was maximized for the estate and operations remained smooth for guests.