Turnaround Management Partners

What Turnaround Management Partners does

Turnaround Management Partners (TMP) is a German restructuring advisory boutique structured as a Partnerschaftsgesellschaft (PartG), headquartered in Düsseldorf with five regional offices across Frankfurt, Munich, Berlin, Hamburg, and Mainz. The firm is owned and operated by six named partners — Martin Barghoorn, Sharon Geschwind, Stefan Hausmann, Nick Piepenburg, Timo Schips, and Marc Schneider — all of whom are ex-Big 4 restructuring specialists, primarily from PwC Business Recovery Services with additional tenure at BCG, Roland Berger, and other firms. TMP provides turnaround management, restructuring advisory, and insolvency-related consulting to German SMEs and mid-market companies facing revenue, profitability, or liquidity crises, as well as to lenders and insolvency stakeholders requiring independent assessments.

The firm's service portfolio spans the full restructuring lifecycle: integrated business planning (P&L, balance sheet, and cash flow projections in Excel-based models), 13-week liquidity planning, transformation and restructuring concepts, Independent Business Reviews (IBR) and Red Flag Reports, going concern assessments under IDW S11 and IDW PS 270, IDW S6-compliant Sanierungsgutachten, StaRUG and protective shield advisory, PMO and CRO support, and debt advisory. The technology foundation is Excel-centric financial modeling with web-based tracking and BI tools for liquidity monitoring — there is no proprietary software platform, AI component, or recurring product offering. All services are delivered directly by senior partners without channel distribution.

Revenue is generated exclusively through engagement-based professional services fees, with pricing negotiated on a quote basis tied to project complexity, duration, and team composition. No subscription, licensing, or usage-based revenue streams exist. The firm reports 150+ completed turnarounds as a cumulative track record and self-describes as a "Top 30 Restrukturierungsberater" in Germany. Customer acquisition relies primarily on partner-level referral networks, industry associations (TMA Germany), and thought leadership content (Restructuring City Guides by city) rather than paid acquisition channels. Named clients include YT Industries GmbH and OPW Ingredients GmbH, both mid-market German companies.

Name

Turnaround Management Partners

Legal name

Turnaround Management Partners PartG

Website

https://turnaround.management

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Turnaround Management Partners is a German restructuring advisory boutique, owned and operated by six ex-Big 4 partners, providing turnaround management, IDW S6/S11-compliant restructuring opinions, and insolvency-related consulting to SMEs and mid-market companies across five German cities.

Ownership category

akta.pro rank

Product category

Corporate Restructuring Advisory

NAICS

Management Consulting Services (54161), Other Management Consulting Services (541618), Administrative Management and General Management Consulting Services (541611)

SIC

Services-Management Consulting Services (8742)

akta.pro primary industry

Restructuring & Turnaround Advisory (BPAHADAD)

akta.pro secondary industries

Turnaround, Restructuring & Crisis Management Consulting (BPAHACAO), Restructuring & Turnaround Advisory (BPAHAOAC), Insolvency & Turnaround Advisory (SME/Mid-Market Debtor-Side) (FSAEAFAK), Change Management & Transformation Consulting (BPAHAGAC)

Keywords

• Restructuring advisory services
• Turnaround management consulting
• Insolvency advisory services
• Liquidity planning consulting
• Financial restructuring advisory

Headquarters

HQ city

Düsseldorf

HQ country

Germany

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Professional Services / Advisory Fees: Engagement-based advisory fees for restructuring consulting, turnaround management, and insolvency-related advisory services. Revenue is generated through project-based engagements with senior partner involvement, typically billed at partner rates with support from junior team members. No recurring subscription, usage-based, or product licensing model.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Turnaround Management Partners is a German restructuring advisory boutique that advises and guides companies through crisis situations and special circumstances. The firm delivers integrated business planning, liquidity planning, restructuring concepts, independent business reviews, going concern assessments, IDW S6 restructuring expert opinions, insolvency-related advisory, and management support services (PMO, CRO, Debt Advisory). All services are delivered by a lean partner team of ex-Big 4 restructuring advisors operating from five German office locations.

Product overview

Turnaround Management Partners is a restructuring advisory boutique offering a comprehensive suite of advisory services for companies in crisis situations. The core offerings include Integrated Business Planning and Liquidity Planning for financial forecasting, Transformation and Restructuring Concepts for holistic crisis management, Independent Business Reviews (IBR) and Red Flag Reports for rapid situation assessment, Going Concern Assessments and Restructuring Expert Opinions (IDW S6/S11 compliant) for formal evaluations, and Insolvency-related Advisory covering pre-insolvency and StaRUG proceedings. The firm also provides management support services including Project Management Office (PMO), CRO Support, and Debt Advisory. All services are delivered by experienced ex-Big 4 restructuring advisors with expertise across industries including automotive, retail, e-commerce, machinery, chemicals, energy, logistics, real estate, and healthcare.

Differentiator

Problem solved

Functional benefit

Products and services

• Integrated Business Planning
• Liquidity Planning
• Transformation and Restructuring Concepts
• Independent Business Review (IBR) and Red Flag Report
• Going Concern Assessment
• Restructuring Expert Opinion (Sanierungsgutachten)
• Insolvency-related Advisory Comprehensive advisory service covering pre-insolvency and insolvency proceedings including status determination, StaRUG preparation, protective shield certification, and support during insolvency and restructuring processes.
• Project Management Office (PMO) Central coordination service for planning, controlling, and monitoring restructuring projects, providing standardization of processes, resource management, risk management, and stakeholder communication.
• CRO Support Advisory support for Chief Restructuring Officers including diagnosis and planning, resource optimization, risk management, and stakeholder communication during corporate restructuring.
• Debt Advisory Financing advisory service supporting companies in refinancing and financial restructuring situations, covering analysis, concept development, and implementation including stakeholder negotiations and monitoring of new financing structures.

Quantifiable outcome

• Over 150 turnaround projects completed
• +2 more outcomes

Named customers2 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

Feature3 records

Scale indicators4 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• goetzpartners: Munich-based boutique restructuring and corporate finance advisor in the German mid-market with deep expertise in distressed situations, insolvency-related advisory, and M&A. Closest direct comparable to TMP in size, geography, and service scope.
• FTI Consulting: Global advisory firm with a major restructuring practice covering turnaround, creditor advisory, and insolvency-related services. Operates in Germany through its European Corporate Finance / Restructuring segment and competes head-to-head with TMP on distressed mandates.
• AlixPartners: Global restructuring and turnaround advisory firm with a strong German practice, serving clients across the full crisis lifecycle including interim management, refinancing, and insolvency-related work. Directly competes with TMP on large German mid-market mandates.
• Houlihan Lokey: Global investment bank with a leading restructuring advisory practice providing independent advice to creditors and debtors in distressed situations. Competes directly with TMP on debt advisory, refinancing, and creditor-side mandates in the German market.

Broad incumbents

• Roland Berger: Major German-origin management consultancy with a dedicated Restructuring, Performance & Corporate Finance practice serving crisis and turnaround mandates. Several TMP partners (e.g., Martin Barghoorn) previously worked at Roland Berger, making it a direct competitor for both clients and senior talent.
• BCG - Transformation & Restructuring: Top-tier consultancy with a German-led Transformation & Restructuring practice serving large and complex corporate turnarounds. Multiple TMP partners (Barghoorn, Schips) previously worked at BCG, and the firm competes with TMP on larger mandates while being less cost-competitive on SME work.
• Deloitte Germany - Restructuring & Turnaround: Big 4 firm with a dedicated German restructuring practice providing turnaround advisory, IBRs, and insolvency services. Direct competitor on distressed mid-market mandates, with brand and cross-disciplinary resources TMP cannot match.
• PwC Germany - Business Recovery Services: Big 4 firm's German Business Recovery Services practice offering restructuring, refinancing, insolvency advisory, and IDW S6/S11 opinions. The dominant institutional competitor from which TMP's founding partners originated, and the principal alternative for mid-market clients seeking a full-service provider.
• KPMG Germany - Restructuring: Big 4 restructuring practice in Germany covering turnaround management, independent business reviews, and insolvency-related advisory. Competes with TMP on mid-market mandates where clients value Big 4 branding or integrated audit/advisory relationships.
• EY-Parthenon Germany: Big 4 restructuring and turnaround practice in Germany, offering corporate finance, IBRs, and crisis advisory services. Frequently pitches against TMP on bank-referred and corporate-side mandates in the German SME and mid-market.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/turnaround-management-partners

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 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 Turnaround Management Partners