The Turnaround Podcast with Stephen Phillips, Episode 25

In this episode of The Turnaround Podcast, Stephen Phillips speaks with Christian Schmehl, Managing Partner at Hypax, a specialist investment firm with offices in London and Berlin.

Tune in to the episode to hear about:

* Christian’s career path that led him to founding Hypax in early 2023

* Hypax’s specialization in complex corporate carve-outs of underperforming “corporate orphans”

* How and why Hypax buys equity and typically avoids standard LBO leverage

* Carve-outs enabling digital leapfrogging by replacing legacy tech stacks

* Hypax’s use of an evergreen structure to allow longer transformations

* Best practices across holdings without over-integration

* Hypax business acquirement since its founding in 2023

Learn more about Christian Schmehl:

* Connect with Christian on LinkedIn: https://www.linkedin.com/in/christian-schmehl-3a311a13

* Visit Hpax’s website: https://www.hypax.com/about

***********************************

About The Turnaround Podcast:

In each episode of The Turnaround Podcast, Stephen Phillips speaks to experienced practitioners who discuss their careers, key moments, challenges, and lessons learned in financial turnarounds and business restructuring. Tune in as they unravel the secrets to turning struggling businesses into successful ones.

Watch more episodes of The Turnaround Podcast::

* FreiLibertas Law’s YouTube Channel: https://www.youtube.com/channel/UCWzwWr13TM2692SYEJc-U3g/

Connect and learn more from your host, Stephen Phillips:

* LinkedIn: https://www.linkedin.com/in/stephen-phillips-85034324/

* Website: https://www.freilibertas.com/founders-experience

The Turnaround Podcast with Stephen Phillips, Episode 24

In this episode of The Turnaround Podcast, Stephen Phillips speaks with Kevin Heverin, Kunal Shah, Matthew Prest. Kunal Shah is founder and CIO of PVTL Point, a European opportunistic credit launch. Kevin Heverin is  a partner in the Banking and Finance group in London and a member of the Global Restructuring and Insolvency team at Baker Mackenzie. Matthew Prest is Managing Director and Co-Head of Europe at Moelis & Company.

Tune in to the episode to hear about:

* Notable restructuring cases from 2025, such as Thames Water and Petrofac

* The evolving landscape of liability management exercises (LMEs)

* The impact of the current permissiveness of debt documentation on the market

* The importance of building and maintaining trust among stakeholders

* The increasing role of advisor-led strategies

* Coss-border restructuring with an evaluation of recent cases involving international companies utilizing English law processes, assessing jurisdictional effectiveness

* 2026 Predictions — sustained capital availability, increased stress in credit markets, and more strategic private deals focused on avoiding public processes.

Learn more about Kevin Heverin, Kunal Shah, Matthew Prest:

* Read Kevin’s profile on Baker Mackenzie’s website: https://www.bakermckenzie.com/en/people/h/heverin-kevin

* Connect with Kevin on LinkedIn: https://www.linkedin.com/in/kevin-heverin

* Read Matthew’s profile on Moelis’s website: https://www.moelis.com/our-team/matthew-prest

* Connect with Matthew on LinkedIn: https://www.linkedin.com/in/matthew-prest-ab149294

* Read Kunal’s profile on Pvtl Point‘s website: https://www.pvtlpoint.com/our-people/kunal-shah

* Connect with Kunal on LinkedIn: https://www.linkedin.com/in/kunalpvtlpoint

***********************************

About The Turnaround Podcast:

In each episode of The Turnaround Podcast, Stephen Phillips speaks to experienced practitioners who discuss their careers, key moments, challenges, and lessons learned in financial turnarounds and business restructuring. Tune in as they unravel the secrets to turning struggling businesses into successful ones.

Watch more episodes of The Turnaround Podcast::

* FreiLibertas Law’s YouTube Channel: https://www.youtube.com/channel/UCWzwWr13TM2692SYEJc-U3g

Connect and learn more from your host, Stephen Phillips:

* LinkedIn: https://www.linkedin.com/in/stephen-phillips-85034324

* Website: https://www.freilibertas.com/founders-experience

The Turnaround Podcast with Stephen Phillips, Episode 23

In this episode of The Turnaround Podcast, Stephen Phillips speaks with Matt Meehan, the founder of Lyford Partners, a specialist credit provider focusing on liquidity challenges for individuals, families, and businesses.

Tune in to the episode to hear about:

* Key moments in Matt’s career in specialist finance with early days of distressed credit markets, notable deals like the Cape Cod potato chips acquisition

* Matt's recent ventures, including DIP financing and matrimonial funding

* Complex distressed opportunities since the 1980s

* Matt’s perspectives on the evolving credit landscape

* Potential market challenges related to private credit and equity

* Insights into how technology, including AI and blockchain, is changing the financial sector

Learn more about Matt Meehan:

* Connect with Matt on LinkedIn: https://www.linkedin.com/in/mameehan

* Visit Lyford Partners’ website: https://www.lyfordpartners.com

***********************************

About The Turnaround Podcast:

In each episode of The Turnaround Podcast, Stephen Phillips speaks to experienced practitioners who discuss their careers, key moments, challenges, and lessons learned in financial turnarounds and business restructuring. Tune in as they unravel the secrets to turning struggling businesses into successful ones.

Watch more episodes of The Turnaround Podcast::

* FreiLibertas Law’s YouTube Channel: https://www.youtube.com/channel/UCWzwWr13TM2692SYEJc-U3g

Connect and learn more from your host, Stephen Phillips:

* LinkedIn: https://www.linkedin.com/in/stephen-phillips-85034324

* Website: https://www.freilibertas.com/founders-experience

The Turnaround Podcast with Stephen Phillips, Episode 22

In this episode of The Turnaround Podcast, Stephen Phillips speaks with Tim Levene, CEO and co-founder of Augmentum Fintech, PLC, Europe's leading publicly listed FinTech Investment Trust.

Tune in to the episode to hear about:

* Tim’s extensive career journey from his early days at Bain & Co. to founding Crush juice bars and pioneering online betting with Flutter.com

* Valuable insights into the venture capital landscape,

* The importance of innovative financial services

* Industry and market challenges

* How to effectively manage startups

* The evolving IPO market in London

* The strategic decision-making processes involved in financial turnarounds

* A snapshot of the opportunities and risks in the current financial climate

Learn more about Tim Levene:

* Connect with Tim on LinkedIn: https://www.linkedin.com/in/timlevene

* View Tim’s profile on Augmentum Fintech’s website: https://augmentum.vc/our-team/tim-levene

NOTE: No investment advice is given in this podcast.

***********************************

About The Turnaround Podcast:

In each episode of The Turnaround Podcast, Stephen Phillips speaks to experienced practitioners who discuss their careers, key moments, challenges, and lessons learned in financial turnarounds and business restructuring. Tune in as they unravel the secrets to turning struggling businesses into successful ones.

Watch more episodes of The Turnaround Podcast:

* FreiLibertas Law’s YouTube Channel: https://www.youtube.com/channel/UCWzwWr13TM2692SYEJc-U3g

Connect and learn more from your host, Stephen Phillips:

* LinkedIn: https://www.linkedin.com/in/stephen-phillips-85034324

* Website: https://www.freilibertas.com/founders-experience

The Turnaround Podcast with Stephen Phillips, Episode 21

In this episode of The Turnaround Podcast, Stephen Phillips speaks with Tony Groom,  Investment Partner and Founder of K2 Partners Ltd., a small turnaround firm of five turnaround professionals who act as advisors and/or directors to implement their triage and fundamental change approach to consensual restructuring for insolvent companies.

Tony is a certified turnaround professional accredited by the European Association of Certified Turnaround Professionals.

Tune in to the episode to hear about:

* How Tony’s company, K2 Partners sets a benchmark in the field of turnaround and restructuring

* Tony's economic stewardship, holding the prestigious title of a certified turnaround professional

* K2 Partners’ systematic and empathetic approach, which includes detailed assessments followed by the implementation of strategic plans tailored to the unique needs of each company

Learn more about Tony Groom:

* Connect with Tony on LinkedIn: https://www.linkedin.com/in/tonygroom

* Visit K2 Partners’ website: https://www.k2-partners.com

* Email: tony.groom@k2-partners.com

***********************************

About The Turnaround Podcast:

In each episode of The Turnaround Podcast, Stephen Phillips speaks to experienced practitioners who discuss their careers, key moments, challenges, and lessons learned in financial turnarounds and business restructuring. Tune in as they unravel the secrets to turning struggling businesses into successful ones.

Watch more episodes of The Turnaround Podcast::

* FreiLibertas Law’s YouTube Channel: https://www.youtube.com/channel/UCWzwWr13TM2692SYEJc-U3g/

Connect and learn more from your host, Stephen Phillips:

* LinkedIn: https://www.linkedin.com/in/stephen-phillips-85034324/

* Website: https://www.freilibertas.com/founders-experience

The Turnaround Podcast with Stephen Phillips, Episode 20

In this episode of The Turnaround Podcast, Stephen Phillips speaks with Nick Kitchin, Managing Director, Head of Lending & Transactions, EMEA at Gordon Brothers. Nick is responsible for capital strategy and originating, structuring and executing investment opportunities in the United Kingdom and Europe. Gordon Brothers helps companies move forward through change. Since 1903, Gordon Brothers has partnered with operating companies, advisors, investors and lenders to help fuel growth, facilitate strategic consolidation, or finance new opportunities.

Tune in to the episode to hear about:

* Nick’s 15-year career in restructuring finance, distressed investing, and M&A

* Nick’s journey, key career moments, and his role at Gordon Brothers

* Successful refinancing examples like zavvi.com, French Connection, and Myers

* Gordon Brothers' history and its current approach to asset-based lending

* The current challenging investment climate in Europe

* A detailed overview of the practices and strategies employed by Gordon Brothers, including the use of restructuring plans, CVAs, and the implications of credit insurance on businesses

* Future investing trends, including the potential impact of AI on the sector

Learn more about Nick Kitchin:

* Email Nick: nkitchin@gordonbrothers.com

* Connect with Nick on LinkedIn: https://www.linkedin.com/in/nick-kitchin-99195949

* View Nick’s bio and learn more about Gordon Brothers on their website: https://www.gordonbrothers.com/people/nick-kitchin

***********************************

About The Turnaround Podcast:

In each episode of The Turnaround Podcast, Stephen Phillips speaks to experienced practitioners who discuss their careers, key moments, challenges, and lessons learned in financial turnarounds and business restructuring. Tune in as they unravel the secrets to turning struggling businesses into successful ones.

Watch more episodes of The Turnaround Podcast::

* FreiLibertas Law’s YouTube Channel: https://www.youtube.com/channel/UCWzwWr13TM2692SYEJc-U3g

Connect and learn more from your host, Stephen Phillips:

* LinkedIn: https://www.linkedin.com/in/stephen-phillips-85034324

* Website: https://www.freilibertas.com/founders-experience

The Turnaround Podcast with Stephen Phillips, Episode 19

In this episode of The Turnaround Podcast, Stephen Phillips speaks to Kunal Shah, founder and CIO of PVTL Point, a European opportunistic credit launch. Kunal was formerly a partner at Warwick Capital Partners, a London based special situations firm, and a partner at CapeView Capital, a London based hedge fund.

Tune in to the episode to hear about:

* Kunal’s journey from a pen salesman at 16 to a successful career in the finance industry.

* The motivations behind launching PVTL Point, driven by a vast opportunity he foresaw in European public credit markets

* The challenges of launching a fund and the importance of partnering with the right capital that aligns with the fund’s strategy

* PVTL Point’s robust social media presence, which is helping in brand recognition and organizing thought leadership content that resonates with a broad audience

* PVTL Point’s investment strategy and process, which is heavily reliant on robust screening techniques and a broad sourcing network built over years of experience

* Insights into the dynamics of the credit cycle, opportunities in post-reorganization investments, and the evolving landscape between public and private credit markets

* How technology plays a crucial role in enhancing operational efficiency at PVTL Point

Learn more about Kunal Shah:

* Connect with Kunal on LinkedIn: https://www.linkedin.com/in/kunalpvtlpoint

* Follow PVTL Point on LinkedIn: https://www.linkedin.com/company/pvtlpoint

* Visit PVTL Point’s website: https://pvtlpoint.com

***********************************

About The Turnaround Podcast:

In each episode of The Turnaround Podcast, Stephen Phillips speaks to experienced practitioners who discuss their careers, key moments, challenges, and lessons learned in financial turnarounds and business restructuring. Tune in as they unravel the secrets to turning struggling businesses into successful ones.

Watch more episodes of The Turnaround Podcast::

* FreiLibertas Law’s YouTube Channel: https://www.youtube.com/channel/UCWzwWr13TM2692SYEJc-U3g

Connect and learn more from your host, Stephen Phillips:

* LinkedIn: https://www.linkedin.com/in/stephen-phillips-85034324

* Website: https://www.freilibertas.com/founders-experience

The Turnaround Podcast with Stephen Phillips, Episode 18

In this episode of The Turnaround Podcast, Stephen Phillips speaks with Janka Krings-Klebe and Jörg Schreiner,  experienced organizational coaches, who have led major transformation initiatives in international corporations, including Bosch. They are co-founders of co-shift GmbH, supporting companies in developing, repurposing, and scaling their existing capabilities to build long-term adaptability. They educate and prepare a new generation of managers to better deal with dynamic and complex transformation initiatives. Janka and Jörg are also co-authors of a new book, "Anti-fragile Organization."

Tune in to the episode to hear about:

* The need for resilience and adaptability in this rapidly evolving landscape of modern business and how the expertise of experienced organizational coaches is invaluable

* How Janka and Jörg’s mission to prepare a new generation of managers capable of navigating the intricacies of dynamic and complex business transformation initiatives

* Janka and Jörg’s book titled “Anti-Fragile Organization,” which serves as a guide for those aiming to fortify their organizations against the unpredictable tides of change

Learn more about Janka Krings-Klebe and Jörg Schreiner:

* Connect with Janka Krings-Klebe on LinkedIn: https://www.linkedin.com/in/janka-krings-klebe

* Connect with Jörg Schreiner on LinkedIn: https://www.linkedin.com/in/joerg-schreiner

* Follow co-shift on LinkedIn: https://www.linkedin.com/company/co-shift

* Visit co-shift’s website: https://www.co-shift.com/imprint

* Check out Janka and Jörg’s book, “The Antifragile Organization: From hierarchies to ecosystems” https://www.amazon.com/Antifragile-Organization-hierarchies-ecosystems/dp/1915951879

***********************************

About The Turnaround Podcast:

In each episode of The Turnaround Podcast, Stephen Phillips speaks to experienced practitioners who discuss their careers, key moments, challenges, and lessons learned in financial turnarounds and business restructuring. Tune in as they unravel the secrets to turning struggling businesses into successful ones.

Watch more episodes of The Turnaround Podcast::

* FreiLibertas Law’s YouTube Channel: https://www.youtube.com/channel/UCWzwWr13TM2692SYEJc-U3g

Connect and learn more from your host, Stephen Phillips:

* LinkedIn: https://www.linkedin.com/in/stephen-phillips-85034324

* Website: https://www.freilibertas.com/founders-experience