Novo Advisors expands its exploding financial turnaround practice to a new headquarters in the heart of Chicago’s Financial District

This is a story of gradual, pragmatic growth driven by 40+ professionals with a mission to help businesses transcend their struggles.

CHICAGO, Ill., March 11, 2025 -- When a nationwide turnaround firm turns up the heat — with over 50% growth in the last year alone — a move to a bustling headquarters in a world-class city can’t be far behind. With its success in helping businesses work through financial trials, Novo Advisors is proud to announce the opening of its new HQ in the heart of downtown Chicago.

For Novo, the expansion highlights its growing team of experts immersed in its work to stabilize troubled businesses. It also signals the arrival of a boutique firm as a nationwide financial services powerhouse. “Our growth reflects the talent of our team and a mission to hire exceptional professionals in key cities to better service those markets,” said Managing Partner and Founder Sandeep Gupta, a 30-year industry veteran. Novo has strategically and thoughtfully expanded its Chicago team and established its presence in New York, Philadelphia, Nashville, Minneapolis, and Dallas.

Our growth reflects the talent of our team and a mission to hire exceptional professionals in key cities to better service those markets.”

Sandeep Gupta

Managing Partner and Founder

Novo’s new address, 200 W. Madison St., is steps from the city’s iconic State-and-Madison crossroads in the heart of Chicago’s financial district. The office’s open floor plan provides a nexus for collaboration, innovation, and teamwork, with easy access to public transportation and amenities for employee well-being — and fun — that include a fitness center, an arcade room, and a golf simulator. 

The story that brought Novo Advisors to a sleek new space humbly began in 2012 from Gupta’s dining room table. There, the University of Chicago Booth MBA and former nuclear power engineer worked out his vision to build a company that would deliver more than just results on paper by assembling an all-star lineup driven by its financial and legal prowess. Recently, Novo added practices in Healthcare Transformation and Dispute and Mediation.

“The high caliber of our team and the incredible support we’ve received throughout our journey drives everything,” said Gupta. “I want to thank our clients and the Novo leadership — Rian Branning, Nick Mungor, Michael Ragano, Jacob Grall, Claudia Springer, Kevin Neuman, Matt Cohn, and Rob Vanderbeek— for being instrumental in driving our growth and success. As we step into 2025, we’re excited to continue to roll up our sleeves and deliver impactful results.” 

About Novo Advisors

Novo Advisors specializes in business turnaround and performance improvement focusing on the middle market ($50 million – $1 billion in revenue annually). As businesses hit critical inflection points, Novo provides expertise and a fresh perspective to navigate these challenges. Through immersion, listening, and analysis, the team works to understand a business and tailor solutions to drive sustainable change. The Novo team, drawn from top-tier firms, combines extensive experience in financial planning, data analytics, and operational roles. With a commitment to collaboration and high standards, Novo Advisors consistently achieves optimal outcomes for its clients. 

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Contact

Anupy Singla
Senior Marketing Director, Novo Advisors
anupy@novo-advisors.com
312-961-2565