Clare York Group, with headquarters in Beverly Hills, is a financial services firm with engagements that usually coincide with some distress or crisis within a company. These can include situations such as investors pulling out, lender freezes, and court cases. The crisis situations that Clare York Group Los Angeles jumps into usually come with little to no advance warning. Despite this, CYG is often able to successfully stabilize operations, implement appropriate reporting, advise the Board of Directors, and set an effective strategy to move a business out of a crisis.
Gregg Yorkison, Founder of Clare York Group
Clare York Group was founded by Gregg Yorkison in Los Angeles in 1999, a financial services expert with almost three decades of experience in corporate finance, restructurings, and workout advisory. Through Clare York Group, Gregg Yorkison has been able to take a purely situational approach and examine the intangible assets of a business just as closely as hard assets are usually considered.
The Founder and Managing Partner is an investor with a focus on cryptocurrency, blockchain companies, Fintech, and traditional middle-market businesses. He is actively involved in the crypto, NFT, and Fintech space. In addition to what has already been mentioned, the CYG founder and University of Southern California graduate has extensive experience in M&A (both sell-side and buy-side), §363 sales, Assignment for Benefit of Creditors (“ABC”) transactions, debt placement, refinancing, recapitalization, capital raising mandates, and licensing.
Playing an active role
In CYG cases in which there is a dispute amongst ownership and an agent of change is required by one or more of the parties involved, Gregg Yorkison is brought into a distressed company as their temporary Chief Restructuring Officer. At that juncture, he assumes the role of the officer in charge of all business operations, cash management, employment, and reporting.
A focus on situational capital
Clare York Group is well known for providing situational capital. The firm stands out from the rest in that they don’t simply focus on what a company has done and where they are in its life cycle. CYG looks at potential opportunities within the company as well as some of the intangibles that go along with it so that the firm can create a thorough profile for investors. Clare York Group also takes the additional step of bringing expertise to a company’s management team to help drive the transition and prevent future investor abandonment.
Situational capital client case
In one recent case, the firm was called by a law firm representing a venture-backed company that has recently had its lead investor back out and cease funding. CYG jumped at the opportunity.
Very quickly, the team at Clare York group was already in touch with the company’s management team virtually. By the next day, they were already on a plane heading to meet that management team in to learn more about the situation, the company, and its profit potential. When the team arrived, they started diving into not only the business plan, where they were going, and how they were tracking their milestones. They also dug into learning about the opportunity and what the competitive set looked like as well as the intangibles that could potentially be monetized. This was done with the goal of getting investor capital back to all stakeholders.
Clare Yok Group then put forth an offer to take over the former lead investor’s role, fund the operations, and slightly change the company’s strategy to reposition them and drive the entity forward.
