Algon Group Expands Advisory Services to Homebuilding Industry


Homebuilding Industry Veteran Larry Comegys Joins Algon Group as Managing Director

New Strategic Alliance with Braun Inc. and Premiere Estates

ATLANTA, Jan. 8 /PRNewswire/ — Algon Group, a financial advisory and investment banking firm that specializes in complex and financially distressed situations, has announced the expansion of its real estate practice to include a full spectrum of services to homebuilders, landowners, developers, lenders, investors and professionals advising the industry. The firm’s initiative will be led by industry veteran Larry Comegys, who joined Algon Group in December 2007. A new strategic alliance with Braun Inc., a leading valuation, brokerage, and auction firm, will complement Algon Group's expertise in operations, restructurings, and financings.

Comegys has worked for 25 years in every sector of the residential real estate industry from coast to coast. Over the past 15 years he has served as president of Pulte Homes, Florida Region; president and COO of Jim Walter Homebuilding Group; and president of Meritage Homes, Florida Region. His experience includes all consumer segments ranging from land development to single family, multi-family, and hi-rise units, as well as start-up and turnaround situations. Comegys earned his MBA at The Wharton School of the University of Pennsylvania.

Algon Group and its principals, who are known for their strong advisory and consulting approach, have substantial expertise in purchasing, financing and restructuring various real estate related assets. In addition the firm has extensive experience in financial analysis of real estate situations and managing the sale of real estate assets, particularly for those with problematic issues.

Troy Taylor, founder and president of Algon Group, says, “Adding Larry’s operating experience in the homebuilding industry to our proven financial team enhances Algon’s ability to maximize the results achieved for our clients who face complex problems in today’s distressed market. Our new strategic alliance with Braun allows Algon to combine our financial advisory and investment banking expertise with valuation and auction services to produce the optimal solution for each situation.”

About Braun Inc. and Premiere Estates Auction Company

Braun Inc. and Premiere Estates Auction Company, its residential property auction division, offer a range of valuation, brokerage and auction services covering all types of real estate, tailored to each client’s situation. Clients include land owners/developers, financial institutions, accountants, attorneys, and Fortune 1000 companies in 70 industries around the world. Braun has principal offices in Los Angeles, Miami, Greenwich, and Cleveland, and has over 2,350 representatives in 44 states.

About Algon Group

Algon Group provides sophisticated financial analysis, advisory services, and execution in challenging situations to clients including, but not limited to, companies, creditors, equity holders, trustees, unions, formal and informal creditor and equity committees, legal professionals, retirement plan committees, special committees to Boards of Directors, and buyers, sellers, or owners of distressed debt or assets. The firm’s managing directors average more than two decades of operational, financial and/or traditional investment banking experience; and collectively Algon’s senior management has completed advisory, management and financing assignments for companies aggregating over $5 billion in value. Algon Group has substantial experience with both public and private companies in mergers and acquisitions, and provides interim management and litigation support among its services.

SOURCE Algon Group

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