Alvarez & Marsal Expands Transaction Advisory Group; Seasoned Private Equity Advisor Paul Aversano Joins as Managing Director and Co-Head of Growing Group.

NEW YORK -- Alvarez & Marsal, a global professional services firm, announced that Paul Aversano, the former New York director of middle market private equity at Ernst & Young, has joined as a managing director and co-head of the firm's Transaction Advisory Group. Also led by managing directors Jack McCarthy and Nick Alvarez, the group advises mid and large cap private equity investor groups and strategic acquirers in developing financial and operational analysis to make informed purchase and sale decisions.

Mr. Aversano, who is based in A&M's New York office, brings an extensive background in leading financial accounting due diligence projects for complex public and private company merger and acquisition transactions, having assisted numerous private equity investor groups and strategic acquirers in the U.S., Canada, Latin America, the Caribbean and Europe with transactions in a wide spectrum of industries. He specializes in providing financial accounting and transaction structuring advice related to leverage recapitalizations, purchase accounting and SEC reporting, assessing quality of earnings, and GAAP accounting.

"Paul is a consummate professional with an exceptional track record advising private equity investor groups in multiple industries, geographies and economic cycles," said Bryan Marsal, co-founder and co-CEO of Alvarez & Marsal. "As more and more firms look to A&M for an independent and integrated advisory approach that is free from the conflicts of interest facing the Big Four, his expertise and leadership will be invaluable."

"In today's environment, it has become critical to look beyond the numbers to identify opportunity and extract value at every stage of the investment cycle," said Mr. McCarthy. "This requires an integrated approach to the diligence process, one that combines a range of financial and operational capabilities, offers multiple perspectives and enables investors to identify and unlock significant value. Paul's extensive domestic and international experience, acute understanding of the diligence process and expertise in dealing with management teams make him an excellent addition to our firm."

"Having served private equity investor groups for more than 20 years, Alvarez & Marsal formed a dedicated Transaction Advisory Group to leverage the breadth and depth of expertise across our business lines," added Mr. Alvarez. "As we continue to grow our team of world class professionals, Paul's outstanding financial accounting background is a significant addition to our ability to help clients make the most informed and strategic decisions possible. A&M is truly unique in the marketplace, as there is no other firm that can provide private equity and strategic investors with the integrated financial, tax and operational due diligence services that we can."

At Ernst & Young, Mr. Aversano, a certified public accountant, led financial accounting due diligence projects for private equity investor groups, with a particular focus on funds with committed capital of approximately $500 million to $2 billion. Before that, he was with Arthur Andersen's Transaction Advisory Services practice and the commercial products and services division of the firm's audit & business advisory practice.

Mr. Aversano earned a bachelor's degree in accounting from Binghamton University, School of Management, where he was a founding member of the Beta Alpha Psi Accounting Honor Society. A frequent speaker on financial accounting due diligence topics, he is a member of the American Institute of Certified Public Accountants, the New York State Society of Certified Public Accountants and the New York Chapter of the Association for Corporate Growth.

Alvarez & Marsal

Alvarez & Marsal is a leading privately-held global professional services firm that excels in problem solving and value creation. The firm's experienced professionals bring a bias toward executing positive change with a distinctive hands-on approach to delivering results for clients, management and stakeholders.

Founded in 1983, Alvarez & Marsal draws on its integrated operating and finance heritage to help drive performance improvement in large and middle market businesses across a broad industry spectrum. The firm offers a range of specialized professional services including: Transaction Advisory, Turnaround Management and Restructuring, Crisis and Interim Management, Performance Improvement, Creditor Advisory Services, Corporate Finance, Dispute Analysis and Forensics, Tax Advisory, Business Consulting, and Real Estate Advisory. With professionals based in locations across the U.S., Europe, Asia and Latin America, Alvarez & Marsal has garnered a proven reputation for leadership, problem solving and value creation.

For more information, visit www.alvarezandmarsal.com or contact: Chief Marketing Officer Rebecca Baker at [phone], or e-mail [e-mail].