About us

Experience and judgement matter most in complex restructurings. Every situation is different and every solution should be unique. Smith Goffman Partners delivers in a way no one else can.

A photo representing Smith and Goffman partners.

With their 80 years of combined cutting edge legal and financial restructuring experience, the founders of SGP Capital Advisors – Steve Smith and Jay Goffman – offer a unique value proposition. For each client, SGP delivers a bespoke strategy that maximizes value for owners while minimizing costs, time and resources committed.

SGP works with a limited number of stressed companies that are willing to begin the PreStructuring process early in an effort to maximize their strategic options and minimize or eliminate time in Chapter 11. By using tools that they invented, pioneered and perfected, Smith and Goffman have produced a durable track record of delivering superior results.

“I have been privileged to be the CEO of 2 companies that Jay Goffman reorganized. The first was Grove Industries, a large crane manufacturer, which Jay reorganized in a contested prearranged restructuring. We had a difficult group of bondholders, but Jay constructed a plan that we were able to implement over their objection allowing Grove to move forward as a successful business. So, a few years later, when I had another problem I reached out to Jay. I was the CEO of BlueBird Bus, the oldest US manufacturer of yellow school buses. Unfortunately, by the time the Board allowed me to bring Jay in, the company was shut down and out of money. The Board and the lenders had grudgingly concluded that the business would have to be liquidated. But Jay refused. He told all of them that he was going to reorganize the entire business in 7 days- an impossible task. But that is exactly what he did. He designed, negotiated, documented and confirmed our prepackaged restructuring in 7 days including a 32 hour contested chapter 11 case. All employees kept their jobs. All unsecured creditors got paid in full and the lenders ultimately got well paid when the reorganized business was sold a few years later. For doing the impossible,I have no doubt that when it comes to restructuring, Jay Goffman is the GOAT (the “Greatest Of All Time”).

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Jeffry Bust

former CEO of Grove Industries and Blue Bird Bus

“Steve devised a creative prepackaged plan and worked hard to sell the plan to our creditors and advisors. He understood our business model and the trajectory of our business if we could eliminate the drag from our debt. The key to the plan was an earnout that allowed shareholders to increase their ownership to 15% of the equity when a traditional restructuring would have yielded 3% to 5%. We hit the market cap hurdles in the plan and shareholders did very well. I hope to never run an over-levered business again, but Steve would be my choice to find a way out—clever strategy, professional and hard worker.”

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Kevin DeNuccio

former CEO Redback Networks

“I was Vice-Chairman of CEDC (the largest vodka and spirits distribution business in Europe) and Vice- Chairman of Pacific Drilling, when these companies went through major restructurings. The best thing we did in CEDC was to hire Jay Goffman at Skadden. He created a solution that no one else envisioned, which allowed CEDC to emerge from a 30 day prepack intact while maximizing value for all. In Pacific Drilling, Jay represented the owner and, once again, devised an innovative solution for an incredibly difficult problem. His ability to combine legal, financial and business expertise is uncanny. Moreover, his unique talent to find calm in the storm and build consensus in the most difficult situations is unmatched. If I am ever in a distressed situation again, my first call will be to Jay.”

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Scott Fine

Former Vice-Chairman of CEDC and former Vice-Chairman of Pacific Drilling

“Steve faced an enormous challenge trying to help me restructure debt of SatMex. It was the perfect storm—difficult and aggressive NY hedge fund owners of Opco debt, the Mexican government as sole owner of Holdco debt and shareholders with unrealistic return expectations (and significant veto rights under new Mexican bankruptcy law). Steve worked creatively, patiently and tirelessly (over 50 trips to Mexico City) to hammer out a complex set of compromises to get everyone on board. He will not back down no matter how big the challenge.”

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Lauro Gonzalez-Moreno

former CEO of SatMex

“Jay Goffman is not only one of the most technically skilled advisors in the restructuring field, but he also has a keen sense of the special challenges of taking a board, leadership team and organization through the process. He has proven to be an indispensable partner in driving highly efficient and effective outcomes for his restructuring clients.”

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Lawrence Benjamin

Capwell Partners

Our Founders

Steve Smith

Co-Founder and Co-CEO
Smith Goffman Partners

Managing Partner, Aurora Resurgence

Global Head of Restructuring, UBS

Global Head of Leveraged Finance, UBS

Americas Executive Committee and Global Management Committee, UBS

See detailed CV

Jay Goffman

Co-Founder and Co-CEO
Smith Goffman Partners

Client Chairman, Teneo Financial Advisory

Vice Chairman, Rothschild & Co. Global Advisory Practice in North America

Global Head of Restructuring and member of Executive Committee, Skadden Arps

See detailed CV

If you are tired of the same old approach to every case, where maximizing value for the owner seems to be an afterthought, come talk to us to see what is truly possible.

Experience

Smith Goffman Partners, New York (November 2023 – Present)

Aurora Capital Partners, Los Angeles (2011 – 2023)

UBS Investment Bank, New York/San Francisco (2001 – 2011)

Donaldson, Lufkin & Jenrette/Credit Suisse, San Francisco (1992 – 2001)

Latham & Watkins, Los Angeles (1986 – 1992)

US Court of Appeals, Ninth Circuit, Los Angeles (1985 – 1986)

Private Company Board Experience

SIRVA, Chicago

‍LandCare, San Diego

‍TOPS, Chicago

‍Alltub, Amsterdam

‍PYREX, Paris

‍Cardiac Science, Waukesha

Education

UCLA School of Law/Anderson School of Management

UC San Diego

Memberships and Licenses

Experience

Smith Goffman Partners, New York (November 2023 – Present)

Teneo, Inc., New York (November 2022 – 2023)

Rothschild and Co., New York (2020 – 2022)

Skadden, Arps, Slate, Meagher & Flom LLP, New York (1996 – 2020)

O’Sullivan Graev & Karabell, New York (1991 – 1996)

Weil, Gotshal & Manges LLP, New York (1987 – 1991)

Bear Stearns & Co., New York (1987 – 1987)

‍Weil, Gotshal & Manges LLP, New York (1985 – 1987)

‍Burns Summit Rovins & Feldesman, New York (1983 – 1985)

Education

J.D., University of North Carolina at Chapel Hill, 1983

B.S., The State University of New York at Binghamton, 1980

Memberships and Licenses

Awards

Our Founders

If you are tired of the same old approach to every case, where maximizing value for the owner seems to be an afterthought, come talk to us to see what is truly possible.