Chris has over 25 years of experience with expertise in corporate turnarounds and insolvencies, interim management, restructuring and revitalizing finance/accounting departments, and M&A.”
CHRIS CIANNELLA is a Managing Director with Novo Advisors, based in Chicago. He has over 25 years of experience with expertise in corporate turnarounds and insolvencies, interim management, restructuring and revitalizing finance/accounting departments, and M&A. While Chris considers himself an industry generalist, he has substantial experience in food and agriculture, healthcare, construction, business services, distribution, and manufacturing.
For his entire career, Chris has advised owners and operators of middle market companies serving as Chief Restructuring Officer (CRO), Chief Financial Officer (CFO), trusted business advisor, and assignee. He is grounded in taking an analytical approach to help his clients solve their financial and operational problems, and is adept at financial and cash flow modeling, working capital management, debt/equity financing, and synthesizing complex financial data into easy to understand reporting.
Chris’s healthcare experience includes an Illinois-based physicians network serving over 200,000 patients annually, where he assisted senior management with stabilizing cash flow and crafted a plan to increase profitability including bringing its revenue cycle back in house. Chris also developed a plan to get a durable medical equipment company back to profitability after the company experienced a 9% across the board cut in Medicare reimbursements. That plan included reductions in force, closure of multiple store fronts, and collection of aged receivables.
Prior to joining Novo, Chris was the CFO of an ethnic chicken reseller and processor. There he improved cash flow, changed the company’s approach to pricing, refinanced its debt, and developed a reporting package that emphasized KPIs, working capital and customer/product profitability. Prior to his CFO work, Chris spent 15 years performing corporate turnarounds and restructurings, interim management roles, and M&A advisory at Grant Thornton, Fort Dearborn Partners and High Ridge.
Chris holds a B.S. in Accountancy from Northern Illinois University and an MBA with concentrations in finance and marketing from the University of Chicago Booth School of Business. Chris is a CPA and a US Navy veteran. He is actively involved in both the Chicago community and the restructuring industry, having served as past president and board member for South Suburban PADS and as Vice President of the Education Committee for the Chicago chapter of the Turnaround Management Association.
In addition to his professional achievements, Chris is an active triathlete, having finished four Ironmans and five half Ironmans. When he’s not training for his next race, Chris enjoys fishing, military history, and watching his kids grow and excel in college.
With Novo Advisors, companies get a custom solution, based on detailed facts they took the time to gather.”
