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WEST CONSHOHOCKEN - After years of growth while the economy floundered, SSG Capital Advisors LP, an investment bank that deals with troubled companies, has expanded outside the Northeast.
As part of a plan to open offices in strategic cities across the United States, SSG has opened a Midwestern office by acquiring the investment banking and financial advisory practice of a Cleveland firm, Resilience Capital Partners LLC.
SSG President Mark E. Chesen declined to reveal the terms of the deal. However, two Resilience employees, Geoffrey S. Frankel and Jeremy P. Eberlein, have joined SSG. Frankel, who was previously the manager of the restructuring
group at McDonald Investments (a division of KeyCorp. of Cleveland) before spinning off Resilience, was named a managing partner at SSG. He will also lead the Cleveland office.
Resilience will maintain the other half of its business, which consists of running a private equity fund called The Resilience Fund that invests in underperforming middle market companies.