Services
About Us
Team
Partners
Contact Us
Services
Structuring debt and equity solutions in a wide variety of industries: Energy, Financial Institutions, Mining, Manufacturing, and others. From growth capital to acquisition financing to strategic refinancing, we navigate complex markets to secure optimal terms and help our clients achieve their business objectives. Our successes range from US domestic corporations to cross border financings in the former Soviet Union and to Southeast Asia.
Trade Finance & Working Capital
End-to-end trade finance and working capital solutions that optimize liquidity and reduce financing costs. Capabilities include structuring cross-border transactions, arranging letters of credit, and improving cash efficiency across global operations.
Details
Going Public and Ongoing Advisory
We guide companies through the full journey of going public and beyond. From IPO readiness and governance to investor relations and post-listing capital strategy, our team ensures a smooth transition to public markets and lasting value creation.
Details
Corporate Analysis and Financial Modeling
We transform complex financial data into actionable insights. Our detailed modeling, valuations, and due diligence analysis provide the clarity executives need to evaluate opportunities, mitigate risks, and make high-stakes decisions with confidence.
Details
Corporate Value - Added Partners
We help companies enter and expand in the U.S. market through strategic guidance, market insight, and access to trusted networks, while supporting clients in navigating regulations, forming partnerships, and accelerating growth.
Details
Strategic Advisory
We provide independent, data-driven financial advice to help executives and boards make informed, high-impact decisions. Our expertise spans valuation, capital optimization, and transaction execution, all aimed at maximizing shareholder value and long-term performance.
Details
Recapitalization
Strategic recapitalization solutions to strengthen balance sheets and unlock financial flexibility. We handle debt restructuring, capital optimization, investor sourcing, and financing negotiations —delivering terms that support sustainable growth.
Details
About Us
Ardmore Capital is a boutique financial advisory firm established in 1998 by a senior executive from a New York money center bank. We deliver tailored, turnkey financial solutions to meet the capital needs of mid-sized banks and companies, especially those in transition or acceleration phases. Serving clients across Azerbaijan, Indonesia, Georgia, Uzbekistan, Kazakhstan, and the CIS, we combine deep industry experience with regional expertise. Our strategic advisory supports firms seeking to diversify operations or regain momentum by repositioning their core businesses, empowering them to achieve sustainable growth and long-term success.
27+ Years of Experience
Providing turnkey financial solutions
Long Term Capital
Cost Effective Capital for Development
100+ Corporate Clients
Across CIS and emerging markets
Our team
We are an independent financial advisory firm offering turnkey solutions to arrange and structure equity and debt financing through strategies such as growth, acquisition, and refinancing, helping middle-market clients cost-effectively raise capital and achieve their goals.
Ani Stepanyan
Financial Analyst
Ani Stepanyan
Ani brings 20+ years of international finance experience across auditing, consulting, academia, and freelance advisory. She joined Ardmore Capital in 2023 after advising global clients at a Swiss Group Company and completing 100+ successful freelance contracts. Previously, she taught finance and accounting for 10 years and held senior roles in SME accounting and government training. Ani holds a Diploma with Honor in Economics.
Financial Analyst
Elena Zandelova
Investment Banking Analyst
Elena Zandelova
Elena brings 10 years of experience in financial modeling, due diligence, and transaction support across banking, private equity, and asset management. She has passed Levels I and II of the CFA Program® and works fluently in five languages including English, Russian, Romanian, and Chinese. Elena has developed over 500 financial models, with some tailored for top US fund managers like Raymond James and PIMCO. Her experience covers deals across Africa and Central Asia. She holds a Bachelor’s degree in Finance and Banks and a Master’s degree in Corporate Finance and Insurance.
Investment Banking Analyst
Burke McCormack
Principal
Burke McCormack
Burke P. McCormack, founder of Ardmore Capital, brings over 25 years of international banking and investment experience. A graduate of Cornell University (Economics) and Columbia University (MBA), he previously served as Vice President at Manufacturers Hanover Corporation (now JPMorgan Chase), managing commercial and investment banking across Asia and Europe. Before founding Ardmore Capital, he was Senior Managing Director at a U.S. boutique investment bank. His track recordincludes successful transactions with OPIC in Mexico, equity financings in Texas and the CIS, and advisory work under EBRD’s Enterprise Growth Program. A former U.S. Navy officer, he served aboard destroyers and a submarine tender.
Principal
Errol Sisanovic
Special Representative
Kazakhstan/Central Asia
Errol Sisanovic
Special Representative
Kazakhstan/Central Asia
Errol brings 27 years of international management experience across Eastern Europe, Central Asia, and the CIS region. He has launched and led multiple ventures in agriculture and food processing, raising equity investment and securing strategic partners. His core strengths include business development, project management, startup execution, and distribution network leadership. Errol excels in building cross-border partnerships and driving growth in emerging markets.
Gulam Baghirov
Special Representative
Caucus Region/ Middle East
Gulam Baghirov
Special Representative Caucus Region/ Middle East
Gulam holds an MBA from Central European University and a Management degree from the State Economy University of Azerbaijan. He brings over a decade of experience in finance and infrastructure, including leadership roles at Azertunel and Aghalar Construction. Since joining Ardmore Capital in 2009, he has led negotiations with major commercial banks across the CIS region, leveraging deep regional expertise in financial operations and institutional partnerships.
Ahmad Qadar
Project Finance Specialist
Ahmad Qadar
Project Finance Specialist
Ahmad is a CFA Charterholder with 15+ years of investment banking experience, having raised over $200M across global transactions. He specializes in company valuations, financial modeling, M&A advisory, and strategic business planning. With 200+ models built, Ahmed delivers end-to-end solutions using Excel, Power BI, QuickBooks, and more. A strong advocate for financial inclusion, he has worked extensively with MSMEs, combining technical rigor with a development-focused approach.
Partners
.png)
Contact Us
Need more details? Get in touch. We are here to assist. Contact us by phone or email for any inquiries.