Phoenix Capital

Investment banking for businesses in transition.

We serve middle-market businesses in transition, through operational challenges, financial challenges or other “special situations”, with boutique investment banking solutions. Phoenix Capital advises on both domestic and cross border transactions.

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The ability to augment our operationally focused services with turnkey investment banking solutions provides our clients with several advantages, including increased certainty of closing, valuation enhancement, and a credible, experienced voice in the midst of challenging situations.

We work collaboratively with multiple constituents, including public companies, financial sponsors, closely held businesses, boards of directors, and other fiduciaries of middle market companies.

We specialize in the execution of complex transactions.

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Balance Sheet Restructuring

Sometimes a company falls short of its predisposed expectations and needs help realigning the existing debt structure. Throughout the balance sheet restructuring process, our professionals finesse any areas of business that require refinancing, financial restructuring, or recapitalization for immediate and future success.

Capital Raise

When situations such as corporate turnaround or intense projected growth come about in a business, there may not be capital immediately accessible to support the company. In turn, we raise the critical, supplementary funds that allow our clients to execute their plans, expand their business, and maximize enterprise value. 


For a company in transition, it is important to maintain a debt structure that reflects the realities of its business model, sales projections, and capital requirements. Our experts assist in refinancing by optimizing your debt structure accordingly, creating a sustainable path to value for the future.

Mergers & Acquisitions

Whether representing the buyer or the seller, we provide a full range of services throughout the M&A process, from identifying buyers or sellers, to preparing or reviewing the memorandum, performing comprehensive due diligence, securing funding, structuring the transaction, and seeing it through closing.

Team Spotlight

Mark Karbiner

Senior Director

Mr. Karbiner is a Senior Director at Phoenix and has participated in more than 85 engagements since joining the team in May of 2003. Mark is a proven leader with more than 20 years of successful accomplishments in a broad array of complex transactions and challenging management situations. He is a skilled negotiator who is quick to assess a situation, develop practical strategic alternatives, build consensus, and implement an effective action plan to preserve and enhance value.

Michael Gaul, CTP

Senior Director

Michael Gaul joined the Company in March 2003 and is a Senior Director of Phoenix Capital Resources® with approximately 16 years of experience advising clients on complex transactions. Mr. Gaul’s expertise and knowledge spans a wide range of investment banking, including but not limited to refinancing, mergers and acquisitions, and balance sheet restructurings.

Patrick Bellot


Patrick Bellot is a Director at Phoenix Capital Resources®. Patrick assists Phoenix Capital’s clients on a multitude of transactions including mergers and acquisitions, private placements of debt and equity, and complex balance sheet restructurings.

Steven H. Rosenblum

Managing Director

Bio Steven Rosenblum is a Managing Director in Phoenix’s Investment Banking group, Phoenix Capital Resources, and brings more than 20 years of Special Situations transaction experience as a banker and asset manager. Steven focuses on transactions that involve a distinct complexity such as tight funding or sale deadlines, enhanced leverage requirements, unusual structuring challenges, niche […]

Completed Transactions

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