Recovery and Transformation Services (RTS) is a unit of McKinsey focused on corporate restructuring and distressed turnarounds. We bring to bear our firm’s unparalleled industry and functional expertise, combined with specialized professionals with deep turnaround and restructuring experience.
Our work ranges from acute crisis and liquidity management to large-scale restructuring. Beyond recovery, we are committed to bringing our clients back to long-term health.
To help our clients succeed we offer a variety of working arrangements, from traditional consulting teams to expert advisors to experienced interim managers.
Examples of our work
RTS works in all regions and industries to bring clients back to financial health. Examples of our work include:
- Supporting the turnaround of a global metals producer by providing interim management and specialist teams to create over $300m in incremental cash flow through a range of operational improvements and reductions to external spend.
- Leading the turnaround of a global aerospace company, delivering over $80m of incremental operating profit and $100m of positive cash flow through short term liquidity measures as well as revenue stabilization.
- Supporting the restructuring of a leading global shipbuilder, including the disposition of their Southeast Asian shipyards and a consensual debt restructuring with a consortium of international lenders.
- Supporting the high-profile Chapter 11 restructurings of a major power company and an airline.
Our approach
In most situations our first priority is to identify the strategic, operational, organizational, and financial levers that will deliver quick and positive impact. We draw on expertise from across McKinsey to ensure that prioritization is informed by deep insight into industry dynamics and functional best practice. Our approach is proven, action-oriented, and backed by proprietary tools, benchmarks, and methodologies.
Because recovery and transformation programs require flawless execution at the right pace, our practitioners create a rigorous implementation infrastructure. By combining a strategic perspective with disciplined implementation we help our clients succeed even in the most challenging crisis environments.
Careers with Recovery & Transformation Services
McKinsey RTS provides an exciting and dynamic environment for people who thrive on challenging work that delivers rapid, tangible impact. We are actively recruiting experienced professionals with a background in restructuring and turnaround situations or relevant functional expertise. To learn more, please contact us.