
WEN RITTSTEUER is a Managing Director at Novo Advisors best known for her ability to tackle complex restructurings with precision while calmly navigating high-pressure crisis situations. This professional dexterity is the key to her success in stabilizing companies in distress while simultaneously architecting the operational frameworks and EBITDA enhancements that drive sustainable value creation. She has used these same skills to propel private equity portfolio companies through transformational change in her over three decades of experience. From orchestrating formal restructurings to guiding PE-backed merger integrations and carve-outs, Wen provides the strategic leadership required to drive results for $50 million to $4 billion revenue enterprises, ensuring stability and growth regardless of the complexity.
Just two days after joining Novo Advisor’s New York office, Wen stepped into the high-stakes Chapter 11 case of Epic! Creations, Inc., Neuron Fuel, Inc., and Tangible Play, Inc., three U.S.-based edtech companies operating in a total vacuum of executive leadership, back-office infrastructure, and financial records. While the broader team focused on legal maneuvers to secure technology platforms, Wen had the strategic foresight to recognize that urgent operational intervention was needed, as the company’s premier asset was in such a severe state of disrepair to attract any meaningful bids.
Acting as interim executive leadership as both CFO and COO, Wen confronted a state of operational paralysis driven by an insurmountable backlog of customer and technical issues. After an exhaustive operational assessment, she implemented a capital-efficient turnaround plan designed to balance immediate stability with long-lead requirements. She first prioritized the rehiring of overseas personnel, doubling the U.S. workforce and successfully cleared the bottlenecks that had stalled the company’s operations. She also implemented software solutions to replace manual payment tracking to automate the process.
By synchronizing critical repairs with the sale timeline, Wen effectively neutralized any perception of risk and helped transform what was a distressed, near-worthless asset into a high-value exit and ensure that by the time prospective buyers conducted due diligence, the initial operational deficits were fully remediated. Wen’s strategic intervention culminated in asset sales exceeding $98 million, with the largest asset alone commanding a $95 million purchase price.
Exhibiting exceptional bandwidth, Wen assumed the CRO role for a restaurant chain, which faced a severe liquidity crisis while concurrently steering a complex, nearly $100 million § 363 sale of her previous engagement to a successful close. She immediately diagnosed the initial DIP financing proposal as grossly inadequate to sustain the restructuring. Working with urgency, she and her team engineered a revised, right-sized credit facility integrated with cost-reduction initiatives. Beyond spearheading the strategic closure of unprofitable locations, Wen served as the linchpin of the sales process. By pinpointing liabilities that would have burdened the Debtors’ estate, she secured critical leverage during bidder negotiations. This strategic intervention directly contributed to a material increase in valuation and a successful asset close just 90 days after her appointment.
Since joining Novo Advisors in late 2024, Wen has made an immediate and measurable impact, helping the firm secure several prestigious industry awards. She attributes her financial dexterity and problem-solving abilities to a foundational upbringing in her family’s restaurant business. This early exposure, paired with a sophisticated background in workout lending, portfolio management, advisory services, and executive leadership, provide the fundamental tools for her to navigate complex challenges with ease.
Prior to joining Novo, Wen served as corporate officer as Treasurer for a large retailer with $6 billion in sales and more than 300 stores. She led the Finance group with oversight for Financial Analysis & Planning, Treasury, Capital Planning and Pension. She spearheaded the closure of 100 unprofitable retail stores and optimized working capital through rigorous forecasting and cash flow modeling.
Wen’s experience as a restructuring and turnaround professional includes liquidity management, cash flow forecasting, performance improvement, strategic plan development, and business plan review and budgeting. She also assists private equity and portfolio companies with the identification and execution of synergies and EBITDA enhancing opportunities to increase enterprise value. Wen provides the necessary leadership and cadence for companies looking to grow through acquisitions, leading the financial standup in carve-out transactions. She is experienced in customer profitability and SKU rationalization, day one readiness, 100-day planning and post-merger integration execution.
Wen holds an MBA from DePaul University and BA in Finance from Michigan State University. She is a Certified Turnaround Professional (CTP) and Certified Insolvency & Restructuring Advisor (CIRA).
Outside of work, Wen loves to travel and has visited six continents. On a recent trip to the Galapagos Islands, she witnessed the dance of the blue-footed boobie and the mating rituals of the frigate bird in which the males inflate their throat to look like a bright inflated balloon to better attract females. Wen says she hopes to soon visit her seventh continent, Antarctica.
Novo Advisors spots issues that we haven’t thought of. They always come up with good ideas and additional issues to consider.”































