NEW YORK — Financo Inc. hired investment banker Joyce I. Greenberg as a managing director to pump up its activities in the mergers and acquisitions arena and in raising private capital.
Greenberg, who has more than 20 years of investment banking experience, will report to Financo chairman, chief executive and founder Gilbert W. Harrison as well as William S. Sussman, president and chief operating officer.
“We have a ton of business going on,” Harrison said. “We are probably going to be announcing several deals in the next week. It’s been a very good year so far.”
Financo’s recent deals include the sale of Gadzooks to Forever 21, a recapitalization of Frederic Fekkai and Regatta’s purchase of Donnkenny. Other clients are Wet Seal, The Container Store and Crescent Jewelers, which is in bankruptcy.
“The retail market is just like the rest of the country’s economy,” Greenberg said. “Scale is becoming increasingly important. Between that and the low interest rates and huge abundance of funds, the market is heating up.”
Added Harrison: “There’s over $110 billion of private equity money out there looking for deals. When you put that together with the pockets that strategic buyers have, there is a huge need for investment.”
Aside from M&A, Financo specializes in divestitures, restructuring and private placements, and has consulting and private equity services.
Greenberg becomes Financo’s sixth managing director for M&A. She will focus on the retail and consumer markets, including apparel, personal care and footwear. Financo’s M&A team includes vice presidents, associates and analysts, a team of more than 20 people.
Aside from her investment banking experience, Greenberg has operational experience in the retail and merchandising sectors. She headed the retail practice groups at Donaldson, Lufkin & Jenrette and Kidder, Peabody & Co. Inc., and has worked with Barnes & Noble, J. Crew, Kmart, Best Buy and Burlington Industries, among other clients. Most recently, she was founder and ceo of Takegoodcare Holdings Inc., a former retailer of home health care products and services that was in business from 1996 to 2003.