Accordion, a private equity-focused financial consulting and technology firm, has named Ofri Porat as managing director and Zach Mainzer as vice president. Previously, Porat worked at FTI Consulting while Mainzer was at Berkeley Research. Accordion is backed by FFL Partners.
NEW YORK, NOVEMBER 15, 2018 — Accordion, a private equity-focused financial consulting and technology firm, today announced that it has made two significant hires. The additions of Ofri Porat and Zach Mainzer are reflective of Accordion’s articulated strategy to attract talented executives who will enhance the firm’s ability to support a growing portfolio of over 150 fund sponsors and their portfolio companies.
To that end, Ofri Porat joins Accordion as Managing Director. Porat, most recently with FTI Consulting, will further strengthen Accordion’s deep expertise in both merger integration and carve-outs. In addition, Zach Mainzer joins the firm as a Vice President. Mainzer brings with him expertise in performance improvement and restructuring, most recently honed at Berkeley Research. Both will be based in Accordion’s New York office.
“Accordion has become the go-to consulting and technology partner for value creation in the private equity community,” said Gary Moran, Managing Director; Head of Financial Accounting and Advisory Services, Accordion. “While we work alongside fund sponsors and management teams to support initiatives across the entire finance function, carve-outs and merger integrations have become an increasingly prominent part of the private equity landscape. Ofri’s addition to the firm enhances our ability to help PE-backed CFOs navigate the inherent integration and carve-out complexities, while ensuring that our clients’ strategic objectives are achieved. We’re thrilled to have him onboard.”
Porat joins Accordion with 20+ years of related experience in financial operations, business process improvement, M&A diligence (buy- and sell-side), divestiture /separation planning, and post-deal integration. At FTI Consulting, Porat served as a Managing Director in the Merger Integration & Carve-out Practice.
Said Porat: “As a gymnast in a former life, I’m fond of likening M&A scenarios to acrobatics, in that there are a series of challenging exercises PE-backed finance teams must tackle. Nothing is more rewarding than helping those teams tackle those exercises creatively and adeptly – and Accordion helps them do just that. That’s why I couldn’t be more excited about joining the Accordion team, and guiding our clients through the acrobatics of acquisition and integration.”
Porat is a graduate of Syracuse University, where he received a BS in Finance and Economics.
Zach Mainzer also joins the Accordion team, bringing with him 10+ years of experience in performance improvement and restructuring. As such, he adds further depth to Accordion’s recently launched performance improvement offering.
Continued Moran: “Of all the private equity scenarios, recognizing and rehabbing an investment that is not meeting expectations is among the most challenging, because it requires diagnostic sleuthing in addition to execution acumen. But, it can also be one of the most rewarding and productive scenarios for sponsors and their underperforming portfolio companies. Which is why we’re thrilled to welcome Zach to the team. His expertise and experience in restructuring complements our recent investment in building a world-class performance improvement capability for our clients.”
Prior to joining Accordion, Mainzer was a Managing Consultant at Berkeley Research Group, where he advised creditors in restructurings on maximizing recoveries. Mainzer also leveraged his restructuring skills at Rothschild, where he evaluated companies in distress situations, including analysis of their capital structures, credit documents, financial covenants, debt capacity, and liquidity ratios.
Said Mainzer: “Turnaround may be a maligned word, but for me, there’s magic in helping an underperforming company meet, and sometimes exceed, initial expectations. Accordion’s unique niche in the private equity space allows it to bring an unrivaled perspective to portfolio companies that can accelerate turnaround. It’s why I’m thrilled to join the company and help service our clients in this critically important space.”
Mainzer holds an MBA in Management and Finance from the University of Michigan. He earned his BS in Finance from Yeshiva University.
Accordion is the go-to partner to the private equity community – driving value creation through financial consulting services and portfolio operations technology. As the only firm focused exclusively within the Office of the CFO, Accordion acts as an extension of mid and large-cap sponsors’ internal resources and operations groups to support initiatives across the entire finance function.