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Gary P. Scharmett | Partner
 
Co-Chair, Finance & Restructuring
 

CONTACT INFORMATION

215.564.8046
gscharmett@stradley.com
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  Office(s):
Philadelphia, PA
New York, NY

Gary Scharmett is the responsible partner with respect to the firm’s largest national bank and commercial finance company clients. He regularly represents banks, finance companies and other providers of credit in the negotiation and documentation of complex financing transactions, as well as workouts and restructurings. He provides counsel to companies regarding commercial, business and finance matters. Mr. Scharmett also advises corporate clients as general outside counsel on all aspects of mergers and acquisitions, securities and other business law matters. A substantial portion of his practice includes transactional representation of commercial finance companies, with particular emphasis on asset-based lending.

Some of Mr. Scharmett’s notable engagements include representing:

  • several of the nation’s largest national banks and commercial finance companies in structuring and documenting asset-based and other secured loan transactions 

  • representing a group in connection with structuring and effecting a leveraged buy-out of a privately held manufacturer of television system electronics, culminating in the eventual initial public offering and listings of shares of this client on the American Stock Exchange 

  • a large structural steel company through a complex work-out with its bank, bonding companies and trade creditors 

  • an international specialty equipment manufacturer as special finance counsel in connection with its capital restructuring efforts, and ultimately serving as special finance counsel in connection with its Chapter 11 reorganization 

  • a national asset-based lender in connection with a loan to a borrower with collateral locations in 42 states and three foreign countries 

  • a group in structuring and effecting a reverse triangular merger/going private transaction of an American Stock Exchange-listed environmental services company 

  • an American Stock Exchange-listed animal-health products company in structuring and effecting a reverse stock split/going private transaction 

  • an American Stock Exchange-listed company in connection with a Dutch auction self-tender transaction

Mr. Scharmett is a former member of the firm’s board of directors. In addition, he has served on the board of directors of Blonder Tongue Laboratories, Inc., a publicly traded manufacturer of electronics and systems equipment for the franchised and private cable television industries since 1997. He is also an officer and serves on the Executive Board of the Association of Commercial Finance Attorneys, Inc.

PERSONAL

Mr. Scharmett's community activities include participation with the Lower Bucks County (Pa.) Chamber of Commerce, the Federation of Jewish Agencies of Greater Philadelphia and the American Cancer Society.

 
PRACTICE AREAS
Finance & Restructuring
Mergers & Acquisitions
Public Companies
Private Equity
Business
Corporate & Securities
 
BAR ADMISSIONS
Pennsylvania
New York
 
COURT ADMISSIONS
Pennsylvania Supreme Court
U.S. District Court for the Eastern District of Pennsylvania
New York State Supreme Court
 
EDUCATION
J.D., Syracuse University College of Law, 1980
B.S., Accounting, magna cum laude, Syracuse University, 1977
 
MEMBERSHIPS
American Bar Association, Banking and Business Law Sections
Board of Directors, Blonder Tongue Laboratories, Inc.
Board of Directors, Turnaround Management Association, Philadelphia Chapter
Commercial Finance Association
President and Executive Committee Member, Association of Commercial Finance Attorneys, Inc.
Pennsylvania Bar Association
New York State Bar Association
 
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