Croley, Martell & Associates

What Croley, Martell & Associates does

Croley, Martell & Associates (CM&A) is a boutique operational turnaround and workout firm headquartered in Cleveland, Ohio. The firm specializes in providing crisis management, restructuring, performance improvement, and transaction advisory services to middle market companies with revenues ranging from $20 million to $550 million. CM&A primarily serves companies experiencing financial distress, operational challenges, or significant business changes, with a track record spanning over 280 engagements across 30+ years and 56+ industries. CM&A primarily operates in the Eastern United States and is privately held by its founding partners.

CM&A delivers its services through four integrated practice areas: Debtor Workout & Turnaround (aggressive debtor representation and financial stabilization), Crisis & Interim Management (hands-on executive leadership including interim CEO, COO, CFO, and Chief Restructuring Officer roles), Performance Improvement (operational and profitability enhancement targeting $3M-$5M annual EBITDA improvement), and Transaction Advisory & Diligence (buy-side and sell-side M&A support). The firm employs a U.S. Special Forces-based force-multiplier engagement model with typically 1-3 senior professionals per client engagement. CM&A's leadership team includes Partners Clifford W. Croley (160+ significant engagements, 30 years experience) and Michael W. Martell (120+ significant engagements, started career at Deloitte & Touche), Principal Brandon M. Croley (previously at Alvarez & Marsal and Mesirow Financial Consulting), and Managing Director Michael S. Mehwald (32+ years automotive industry executive experience). The firm's competitive advantage is grounded in partners' direct operating and business ownership backgrounds (companies ranging from $7M to $515M in revenue) rather than technology platforms.

The firm's revenue model is project-based professional services consulting, with fees typically determined by engagement scope and duration rather than standardized pricing. CM&A generates revenue through episodic engagements where senior professionals deliver hands-on consulting services. The firm has received industry recognition including the M&A Advisor Turnaround Awards' Out-of-Court Restructuring of the Year (2019) and Section 363 Sale of the Year (2018), as well as the Turnaround Management Association's Transaction of the Year for a $1.5B coal mining Chapter 11 sale. Notable client outcomes have included $36 million in EBITDA improvement at a Tier I automotive plastics manufacturer (over 3 years), $15 million inventory reduction within 5 months at an LED/Lighting manufacturer, and $8 million in annual EBITDA improvement at an automotive stamping company. The firm has no proprietary technology platform and relies entirely on senior human expertise for service delivery.

Name

Croley, Martell & Associates

Legal name

Croley, Martell & Associates, Ltd.

Website

https://cmrecovery.com

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

Croley, Martell & Associates is a boutique operational turnaround and workout firm that provides crisis management, restructuring, performance improvement, and transaction advisory services to distressed middle market companies across the Eastern United States.

Ownership category

akta.pro rank

Product category

Turnaround & Restructuring Consulting

NAICS

Management Consulting Services (54161), Administrative Management and General Management Consulting Services (541611)

SIC

Services-Management Consulting Services (8742)

akta.pro primary industry

Restructuring & Turnaround Advisory (BPAHADAD)

Keywords

• Turnaround consulting
• Restructuring advisory
• Crisis management
• Workout services
• Middle market advisory

Headquarters

HQ city

Cleveland

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Professional Services Consulting: Project-based consulting engagements for distressed middle market companies. Services include debtor workout and turnaround, crisis and interim management, performance improvement, and transaction advisory. Engagements typically involve senior professionals serving in executive roles (CEO, COO, CFO, CRO) with typical team size of 1-3 professionals per client.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Croley, Martell & Associates is a boutique operational turnaround and workout consulting firm that provides four integrated service lines—Debtor Workout & Turnaround, Crisis & Interim Management, Performance Improvement, and Transaction Advisory & Diligence—to middle market companies ($20 million to $550 million in revenue) experiencing financial distress or operational challenges. Partners and Principals personally lead every engagement, often serving in interim CEO, COO, CFO, or CRO roles, and apply an "old school" workout mentality to stabilize liquidity, restructure debt, improve operations, and execute transactions.

Product overview

Croley, Martell & Associates is a boutique operational turnaround and workout firm that provides professional consulting services to middle market companies ($20 million to $550 million in revenue). The firm operates as a unified service practice rather than a software platform, offering four integrated service lines: Debtor Workout & Turnaround (aggressive debtor representation and financial stabilization), Crisis & Interim Management (hands-on executive leadership in distressed situations), Performance Improvement (operational and profitability enhancement), and Transaction Advisory & Diligence (buy-side and sell-side M&A support). Services are delivered by senior team members (Partners and Principals) using a U.S. Special Forces-based force-multiplier model with typically 1-3 professionals per engagement. The firm has completed over 280 engagements spanning 30+ years across 56+ industries.

Differentiator

Problem solved

Functional benefit

Products and services

• Debtor Workout & Turnaround Provides aggressive representation of debtors experiencing financial distress for middle market companies ($20M-$550M revenue), including cash and liquidity management, cost reduction, lender and creditor negotiation, company rationalization, turnaround strategy development, union negotiations, debt restructuring, and capital source placement.
• Crisis & Interim Management Hands-on executive leadership for highly-distressed situations, including crisis cash and liquidity management, asset disposals, vendor procurement negotiations, supplemental plant management, interim CEO/COO/CFO services, and Chief Restructuring Officer (CRO) roles delivered by senior Partners and Principals.
• Performance Improvement Analytical tools and operational expertise to improve divisional performance, working capital, product line profitability, and leadership teams, with clients generally expecting annual EBITDA improvement of $3 million to $5 million.
• Transaction Advisory & Diligence Advisory support throughout the deal life cycle, including buy-side and sell-side due diligence, operational improvement identification, management evaluations, working capital optimization, and strategic communications to key constituents, for both distressed and non-distressed acquisition targets.

Quantifiable outcome

• Clients typically experience annual EBITDA improvement of $2 million - $5 million with working capital reduction of $5 million - $7 million per engagement
• +3 more outcomes

Named customers8 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered minor.

• Regional Distressed Investment Banking FirmminorOthersRetained to evaluate strategic alternatives and develop a go-to-market strategy for a sell-side transaction for the trucking and logistics company.
• Alvarez & MarsalminorOthersBrandon Croley previously worked in the Turnaround & Restructuring group of Alvarez & Marsal in New York.
• Mesirow Financial ConsultingminorOthersBrandon Croley previously worked in the Bankruptcy & Restructuring group of Mesirow Financial Consulting in New York.

Scale indicators8 records

Recent moves5 records

Expansion highlights3 records

Direct peers

• FTI Consulting: Major global consulting firm with a dedicated Corporate Finance & Restructuring segment. Comparable in turnaround, creditor advisory, and transaction support for distressed and middle-market companies.
• Huron Consulting Group: National consulting firm with a Business Advisory segment that includes restructuring and turnaround services. Comparable to CM&A in its operational improvement and distressed advisory offerings for middle-market clients.
• AlixPartners: Global turnaround and restructuring consulting firm serving middle-market and large enterprises in distressed and operational situations. Closely comparable in service mix (interim management, performance improvement, creditor advisory) and target client profile.
• GlassRatner Advisory & Capital Group: Specialized restructuring and advisory firm serving middle-market companies, lenders, and investors. Comparable in boutique turnaround services, restructuring advisory, and transaction support.
• Alvarez & Marsal: Global professional services firm with a leading Turnaround & Restructuring practice. Directly comparable in interim management (CRO appointments), operational improvement, and lender advisory; CM&A's Brandon Croley is a former A&M professional.
• BDO USA - Restructuring Practice: Top-tier accounting and advisory network with a dedicated restructuring practice serving distressed middle-market companies. Comparable in turnaround, interim management, and creditor advisory capabilities.
• Conway MacKenzie: Boutique turnaround and restructuring consulting firm serving middle-market companies. Closely comparable in scope (debtor workout, interim management, performance improvement) and middle-market client focus.
• Kroll (Restructuring Practice): Global financial and professional services firm with a Restructuring practice offering turnaround, interim management, and creditor advisory. Comparable in distressed middle-market advisory and lender-facing engagements.
• CR3 Partners: Boutique turnaround and restructuring advisory firm serving U.S. middle-market companies. Closely comparable in mission, service offerings (interim management, operational improvement, transaction advisory), and client profile.
• MorrisAnderson: Boutique turnaround and restructuring firm serving middle-market companies and their lenders. Directly comparable in scale, service mix, and client profile, with similar senior-led engagement model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Croley, Martell & Associates