NEW YORK and MIAMI, March 22, 2017 /PRNewswire/
-- Algon Group announced that Jim Bannantine , a multi-industry CEO/President with
success in start-ups, growth, operations, mergers, acquisitions, divestitures and turnaround situations, has joined the firm in
the newly created position of Chairman. Algon's team has managed more than $18 billion of
restructurings and financings in an array of high-profile transactions, representing companies, shareholders, lenders,
committees, private equity funds and other stakeholders of companies in financial distress.
Mr. Bannantine's distinguished career includes the completion of multi-billion dollar transactions, all with pre-and
post-operational and financial restructuring and integration, on three continents. He was most recently President and CEO of Aura
Minerals, Inc., a publicly traded (TSX: ORA) Canadian copper and gold mining company, with $200
million revenue and 2,000 employees in Canada, Brazil,
Mexico and Honduras. Over five years he surmounted the
challenges of generally declining commodity prices and a lack of financing by leading restructuring initiatives to significantly
reduce costs, while maintaining or increasing production and paying off approximately $40 million
of debt.
Prior to joining Aura Minerals, Mr. Bannantine co-founded and was Managing Partner of Atlantic Capital Group, a $40 million private equity firm located in Baltimore, Maryland. Earlier in his
career he served as President and Chief Operating Officer of Broadwing Corporation (NASDAQ: BWNG), an $880
million revenue, 1,700 person, integrated telecom services provider in North America.
Mr. Bannantine previously held several positions over multiple years at Enron. As CEO of Enron Latin
America, he led a $1.5 billion revenue, 4,500 person roll up of energy assets into a company
operating in both regulated electric and gas utilities and unregulated power and pipeline energy services, including
infrastructure development and structured finance.
A licensed Professional Engineer, Mr. Bannantine graduated from West Point in the top 1% of his
class with a B.S. in mechanical engineering, and served for 12 years in the U.S. Army Corps of Engineers, including three years
as Assistant Professor of Finance at West Point. He earned an M.B.A from the Wharton School of the
University of Pennsylvania, where he graduated with Distinction, and is fluent in Spanish and
Portuguese.
Mr. Bannantine said, "I am excited to join Algon Group and leverage my CEO experience with the firm's world class investment
banking and restructuring expertise to provide unparalleled advisory services for stakeholders under stress."
Troy Taylor , President of Algon Group, said, "We are pleased to welcome Jim Bannantine as Algon's first Chairman, as we expand our abilities to provide management and advisory
services for results-oriented stakeholders in difficult situations. Algon Group is uniquely unhindered by conflicts or business
relationships, allowing us to successfully serve clients in various industries with sophisticated strategies. Jim's broad
executive experience, coupled with his turnaround focus, will be valuable to public and private companies that can benefit from a
seasoned advisor who will do what it takes to protect value."
About Algon Group
Algon Group is a results-oriented, specialized financial advisory firm that effectively guides clients through complex,
challenging, and/or financially distressed situations. Algon has a demonstrated track record of maximizing results for "out of
the money" stakeholders, including junior creditors and equity. For publicly-owned and privately-held companies, Algon provides
recapitalization, restructuring, and management services, as well as buy-side and sell-side advisory services for mergers and
acquisitions.
Learn more at www.algongroup.com.
CONTACT: Ellen Warren, OutSource Communications for Algon Group, 215.886.1666 (desk),
215.669.0011 (cell), ellenwarren@comcast.net.
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SOURCE Algon Group