Algon Group Expands Energy Industry Expertise with Geir Aune, Dirk Van Doren and Rich Bernardy

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Mar 29, 2016, 06:12 ET

NEW YORK and HOUSTON and OSLO, Norway, March 29, 2016 /PRNewswire/ -- Algon Group announced that Geir Aune, Dirk M. Van Doren, and Rich Bernardy have affiliated with the firm, expanding its advisory services to the energy sector. Algon's team has managed more than $18 billion of restructurings and financings in an array of high-profile transactions, representing companies, shareholders, lenders, committees, private equity funds and other stakeholders of companies in financial distress.

Geir Aune, based in Oslo, Norway, brings decades of capital markets activities and restructuring experience, primarily in the oil and gas service industry, to his new role as Vice Chairman. He was formerly Executive Chairman of Ocean Rig ASA, Chairman and CEO of DSND Subsea ASA, Executive Vice Chairman of Wilrig ASA, and Chairman of Frontier ASA. In addition, he served as CEO of Norwegian Cruise Lines in its successful restructuring. As Executive Chairman of Ocean Rig he led its successful restructuring which increased equity value from approximately $60 million to $1.4 billion at the time of its sale.

Dirk M. Van Doren joins Algon Group as a Senior Managing Director with more than 25 years of energy experience. From 2006-2010 he was Executive Vice President and Chief Financial Officer for SandRidge Energy, Inc., and later founded Wildcatter Consultants, LLC to provide investors with financial, reservoir and accounting guidance in the oil and gas sector. Previously, he was a high yield and equity research analyst at Goldman Sachs and Bear Stearns, focused on the exploration and production, oil service, midstream, and refining sectors.

Rich Bernardy, based in Houston, Texas, has 30 years of energy-focused experience in finance, distressed debt, and bankruptcy. At M1 Energy Capital since 2006, he provides advisory and consulting services to upstream, midstream, and downstream energy companies. He previously originated and managed oil and gas investment programs at Deutsche Bank, Bank of America, and Continental Bank. He was also a co-founder of USBuild.com Corporation, where as Senior Vice President he focused on financial operations. Mr. Bernardy is a Senior Managing Director of Algon Group.

Troy Taylor, President of Algon Group, said, "Algon Group has successfully served stakeholders in various industries with sophisticated strategies uniquely unhindered by conflicts or business relationships. Adding Geir Aune, Dirk Van Doren, and Rich Bernardy to our team enables us to expand our services to public and private energy companies, which are increasingly in need of seasoned, assertive advisors who will do what it takes to protect value. Geir, Dirk, and Rich offer a tremendous breadth of expertise, and we are very pleased to welcome them to Algon Group."

About Algon Group

Algon Group is a results-oriented, specialized financial advisory firm that effectively guides clients through complex, challenging, and/or financially distressed situations. Algon has a demonstrated track record of maximizing results for "out of the money" stakeholders, including junior creditors and equity. For publicly-owned and privately-held companies, Algon provides recapitalization, restructuring, and management services, as well as buy-side and sell-side advisory services for mergers and acquisitions.

Learn more at www.algongroup.com.

Contact: Troy Taylor, President, Algon Group, [email protected], 404-423-8086.

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SOURCE Algon Group