Hartley Bricks and Stefano Damiani launch Bricks Damiani

Hartley Bricks and Stefano Damiani are pleased to announce the launch of their mid-market corporate restructuring and turnaround firm, Bricks Damiani Inc. We sat down with Hartley and Stefano to learn more about their new venture.

Tell us about your new firm. 

Hartley:  We’ve established a corporate advisory and Licensed Insolvency Trustee practice focused on the mid-market space, which can range from a mid-sized owner-managed business to a large enterprise with a complex capital structure.  Given our experience on both the debtor and creditor side, our goal is to bring practical advice and solutions to our corporate clients.

What motivated you to focus on the mid-market space?

Hartley:  Stefano and I both have decades of experience in firms with insolvency practices focused on large mandates (+$50 million of debt, syndicated loans, complex receiverships, large CCAA monitoring engagements, and Government projects).  However, both our practices also consistently included mid-market work, an area we enjoy as they tend to encompass more owner/operator-run entities who need helpful, practical, and cost-effective assistance, both on the debtor and creditor side.

We noticed a gap in the market for restructuring services concentrated on the mid-market and resolved to leverage our extensive experience and entrepreneurial attitude to provide pragmatic solutions to this segment.

What sets you apart?

Stefano: Firstly, we are problem solvers. Through our work with creditors, we have a strong understanding of their focus and needs, which is critical for developing a strategy and addressing time-sensitive issues.  And we can bring that understanding to assisting our debtor clients who can be overwhelmed with the information requests and demands that a crisis-situation commands.

Secondly, we are exclusively focused on the corporate mid-market.  Our personalized and hands-on approach, combined with our commitment to delivering tailored practical solutions, is what sets us apart.

What range of services do you offer?

Stefano: We offer a comprehensive range of services to both debtors and creditors. We advise borrowers, senior management, and corporate boards on cash flow and business plan assessments, navigating lender negotiations, and addressing complex shareholder disputes.  On the creditor side, we offer business viability assessments, security position analysis, and ongoing monitoring pursuant to forbearance and accommodation agreements.  Our Court-officer experience and capabilities include acting as receiver, sales officer, monitor, proposal trustee, bankruptcy trustee, interim receiver, and information officer.

What sectors do you focus on:

Hartley:  We are experienced in a broad range of sectors, such as real estate, long-term care, manufacturing, cannabis, automotive and aerospace to name a few.

What trends are you seeing in the mid-market insolvency sector?

Stefano:  Manufacturers, especially automotive and related component suppliers, are facing continued challenges against foreign competition, uncertain consumer demand on ICE vs EV vehicle platforms, and now the threat of US tariffs could significantly exacerbate their struggles.  Real estate, predominately on the residential side, continues to struggle in the ongoing climate of high construction costs and development charges combined with softened pricing.  We continue to see strong enforcement activity by non-bank and private lenders.  Access to capital will likely be tested further in early 2025, as the risk of protracted US tariff negotiations may impact or defer some M&A, investment, and refinancing decisions, particularly for mid-market enterprises with cross-border supply chains and customers.