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Michael Baumkirchner is a Senior Managing Director at Ankura with 20 years of corporate finance, secured lending, and investment banking experience including over 10 years focused on turnaround and restructuring. He provides advisory services to various constituencies in both in-court and out-of-court restructurings across a wide range of industries, including retail, energy, manufacturing, telecom, healthcare, technology and financial services. He is based in New York.
Prior to beginning his career in the restructuring sector, Michael spent five years in MBIA’s structured corporate finance group, where he originated and structured secured credit backed by aviation assets, marine cargo containers, intellectual property, and business loans and leases.
Before his MBA, he worked as an associate in Dresdner Kleinwort Wasserstein’s loan syndication department, where he focused on structuring and distributing debt in project finance, real estate, and leverage finance markets. Earlier in his career, he was an analyst at Bank of America Securities’ Global Investment Bank where he developed cash flow models for valuing various capital-intensive projects, such as power plants, telephone networks, oil fields, toll roads, and gas pipelines, in connection with the bank’s US project finance practice and in support of its Latin American M&A business.
Michael’s professional experience includes:
- Currently serving as financial advisor to the Agent of the Variable Funding Notes of Hertz Vehicle Financing II L.P.
- Currently retained as financial advisor to a distributor of steel pipes, fittings, and flanges. Our role includes developing a business plan inclusive of three-year financial projections and weekly cash flow projections, as well as negotiating a forbearance and amendment with the bank group.
- Served as financial advisor to a wholesale mortgage company. Our role included negotiating payment terms with derivative counterparties following large margin calls stemming from unprecedented Federal Reserve buying of RMBS securities during the COVID-19 crisis.
- Served as financial advisor to a producer and distributor of candy, nuts, and other specialty foods.
- Served as financial advisor to a debtor, a vertically integrated retailer and wholesaler of fragrances and beauty products, during its restructuring. Worked with the company to develop a real estate strategy; long-term projections; store liquidation strategy; and bankruptcy preparation, including negotiating an approximately $85 million DIP financing and preparing a DIP budget.
- Served as financial advisor to a lender, an agent of a $900 million ABL with a privately held commodities trading company. Handled initial crisis assessment after a large trading loss on the part of the company, confirmed the damage was sized and contained, identified valuable unsecured assets, and worked with the company to develop a revised business plan.
- Served as financial advisor to a lender, an agent of a $750 million ABL for an oil and gas company during its bankruptcy and restructuring.
- Served as financial advisor to a lender, an agent of an $80 million first lien term loan to a private equity-owned healthcare consulting company.
- Served as financial advisor to the derivative counterparties of a liquidating offshore hedge fund.
- Served as financial advisor to the lenders of a $250 million term loan with a US supplier of OCTG products during its bankruptcy and restructuring.
- Served as financial advisor to lenders, an agent of a $65 million term loan and a $10 million revolving credit facility of a private equity-owned accounting software and consulting company.
- Served as financial advisor to the official unsecured creditors’ committee of a multinational telecommunications company.
- Served as financial advisor to the United States Department of Justice on a confidential matter.
- Served as financial advisor to debtor MF Global Holdings during its Chapter 11 liquidation.
- Served as financial advisor to debtor Bermuda-based BluePoint Re Limited during its liquidation.
- Served as financial advisor to the official unsecured creditors’ committee of Lehman Brothers Holdings.