FTI Consulting Appoints Automotive Experts Pete Smidt and Patrick Flynn in Detroit
26 June 2019
WASHINGTON, June 26, 2019 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE: FCN) today announced the appointment of Pete Smidt as a Senior Managing Director in the Business Transformation and Transaction Services practices and Patrick Flynn as a Managing Director in the Turnaround & Restructuring practice within the firm’s Corporate Finance & Restructuring segment. Based in Detroit, Mr. Smidt and Mr. Flynn enhance FTI Consulting’s capabilities and delivery of value-add solutions for clients across the automotive sector.
Mr. Smidt has more than 25 years of experience advising private equity and corporate clients throughout the deal continuum. He has worked across multiple industries, including a focus on automotive companies, as well as general manufacturing, aerospace and consumer products businesses.
Mr. Flynn has more than 30 years of experience in financial management, predominantly focusing on business transformation and transition in the automotive industry. He had held direct roles with significant Tier I automotive suppliers, as well as industrial equipment manufacturers and distributors.
“More than ever, automotive businesses are facing complex challenges that require multidisciplinary transformative solutions,” said David Woodward, Leader of Automotive Manufacturing & Distribution practice at FTI Consulting. “Pete and Pat bring deep industry knowledge, extensive leadership experience and a proven track record delivering solutions across the business cycle. The automotive sector is an area of continued focus for us, and adding Pete’s and Pat’s expertise in transactions, performance improvement and turnaround and restructuring in Detroit — the heart of the American automotive industry — will further enhance our ability to unlock value for clients.”
Mr. Smidt’s engagement experience has involved the identification of potential targets, due diligence, contract structuring and transition planning. He has been instrumental in helping clients achieve investment returns through value creation ideas, including commercial excellence, supply chain optimization and acquisition integration. Prior to joining FTI Consulting, Mr. Smidt served as Practice Group Leader of the Transaction Services practice at Conway MacKenzie, Inc. Before that, he served as Chief Financial Officer of Plastech Engineered Products, a $1.5 billion minority-owned Tier 1 automotive supplier. While at Plastech, he helped lead the restructuring of the company in bankruptcy and ultimately the divesture of its key business units through a series of 363 sales. Mr. Smidt also previously held roles in the Transaction Services group at PricewaterhouseCoopers and the Assurance practice at Deloitte.
“I am very excited to join the team at FTI Consulting, where I see an abundance of opportunities for entrepreneurship and collaboration across the firm’s broad platform, particularly as automotive companies face growth challenges driven by external market trends,” said Mr. Smidt. “Equally exciting is the ability to go wide and deep into the automotive vertical, while building out the broader Business Transformation practice. The ability to deliver industry expertise and provide clients additional value through FTI Consulting’s diverse offerings is a key differentiator in the marketplace.”
Mr. Flynn’s experience includes engagements supporting both in- and out-of-court restructurings as interim Chief Financial Officer and as a restructuring advisor. He has also served as a Business Unit Director for the U.S. and Canada regions of a global Tier I automotive supplier, and as Chief Financial Officer of three Tier I automotive suppliers, leading one of them through a Chapter 11 reorganization and subsequent sale to a strategic partner. Prior to joining FTI Consulting, Mr. Flynn held senior positions at The Oxford Investment Group, Oxford Automotive, Conway MacKenzie, JL French Automotive Die Casting, Nemak S.A. and Akebono Brake Corporation.
“The depth and breadth of the FTI Consulting platform is truly inspiring, and the rapid teaming and ability to help clients facing issues whenever or wherever they arise is incredible,” said Mr. Flynn. “As we focus on the global, macroeconomic and technological challenges faced by the automotive industry, we are continuing to invest in a team that is uniquely qualified to assist management teams and investors deliver true value. I am very proud to be associated with the talented professionals who are committed to serve our clients and deliver comprehensive end-to-end solutions each and every day.”
FTI Consulting offers a range of restructuring, mergers and acquisitions, performance improvement, litigation and strategic communications services to vehicle manufacturers, suppliers, retailers, vehicle financiers and other automotive sub-sectors, as well as their creditors, lenders and other stakeholders. The automotive team has senior, experienced financial and operational advisors who focus on key issues, value and solutions for clients, with offices in Detroit and other key markets in North America, Latin America, Europe and Asia.
About FTI Consulting
FTI Consulting, Inc. is a global business advisory firm dedicated to helping organizations manage change, mitigate risk and resolve disputes: financial, legal, operational, political & regulatory, reputational and transactional. With more than 4,700 employees located in 28 countries, FTI Consulting professionals work closely with clients to anticipate, illuminate and overcome complex business challenges and make the most of opportunities. The Company generated $2.03 billion in revenues during fiscal year 2018. For more information, visit www.fticonsulting.com and connect with us on Twitter (@FTIConsulting), Facebook and LinkedIn.
FTI Consulting, Inc.
555 12th Street NW
Washington, DC 20004