PROFILE
Corporate Development Professional with extensive multi-industry and international experience and proven ability to close transactions. Areas of expertise include:
• Developing strategic and operational plans
• Sourcing and evaluating targets
• Analyzing and modeling financial information
• Structuring and negotiating transactions
• Overseeing due diligence and legal documentation
• Integrating acquired companies
PROFESSIONAL EXPERIENCE
Independent Consultant, Scarsdale, NY 2007-present
- Target acquisitions, arrange financing, and plan investment and exit strategies for client companies in diverse industries.
1-800-Flowers.com, Carle Place, NY 2005-2007
Vice President, Corporate Development
- Recruited to newly created position to acquire businesses that design and market floral, food and wine gifts as well as home and garden accessories.
- Reporting to CEO, worked with entire senior management team to analyze existing portfolio and identify strategic priorities; performed market research and sourced potential acquisitions; structured earn-out plans to ensure management retention at acquired companies; presented acquisition proposals to the 1-800-Flowers.com board; negotiated terms and oversaw all business, financial and legal due diligence and documentation; planned and monitored integration of acquired businesses.
- Determined strategic areas in which to build businesses rather than make acquisitions; facilitated the start-up of these ventures.
- Representative transactions:
- Acquired Fannie May Confections Brands (Fannie May, Harry London, Fanny Farmer), a $90 million manufacturer, wholesaler and retailer of boxed chocolates, increasing 1-800-Flowers.com’s revenues by 13% and EBITDA by 50%.
- Acquired 1-800-Flowers.com intellectual property in Australia.
Long Point Capital, New York, NY 2004-2005
Marketing consultant for this private equity group that invests in smaller middle-market buyouts.
- Responsible for all aspects of raising $250 million for Long Point Capital Fund II, including developing appropriate marketing materials, designing and implementing a focused marketing program targeting institutional and high net worth investors, coordinating closings, and handling follow-on investor relations.
McCann-Erickson WorldGroup, New York, NY 2000-2003
Vice President--Director of Mergers & Acquisitions
- Recruited to acquire a multitude of advertising agencies and related businesses in the United States, Europe and Asia. Acquired five agencies in first year at McCann.
- Worked with senior region and corridor management to source potential acquisitions; structured complex earn-out and option plans to ensure management retention at acquired agencies; presented acquisition proposals to senior management; negotiated terms and oversaw all business, financial and legal due diligence and documentation; planned, implemented and monitored integration of acquired businesses into the McCann system.
- Organized and negotiated start-ups, divestitures, joint ventures and association agreements.
- Representative transactions:
- Acquired $50 million contract research organization in New Jersey for Healthcare Corridor.
- Acquired $25 million managed care consulting company in the U.K. for Healthcare Corridor.
- Acquired $20 million custom publishing agency in the U.K. for Relationship Marketing Corridor.
- Acquired $20 million database company in the U.K. for Relationship Marketing Corridor.
- Acquired $20 million advertising agency in the U.K. for Advertising Corridor.
- Acquired $20 million events marketing agency in Sweden for Momentum Corridor
- Acquired $15 million sales promotion agency in the U.K for Momentum Corridor.
- Acquired $10 million advertising agency in Iceland for Advertising Corridor.
- Acquired $3 million healthcare advertising agency in Italy for Healthcare Corridor.
- Divested McCann’s joint venture interests in Cambodia for Advertising Corridor.
- Created strategic alliance with events marketing agency in Finland for Momentum Corridor.
The Hertz Corporation, Park Ridge, NJ 1998-2000
Director of Acquisitions
- Recruited to spearhead Hertz’s acquisition program in the rapidly consolidating equipment rental industry.
- Acquired nine equipment rental businesses and chains of equipment rental businesses throughout the United States in the $5 to $100 million size range.
- Sourced, evaluated, structured and performed due diligence for numerous acquisition candidates. Worked with region vice presidents to strategically target areas for growth.
- Presented acquisition proposals to senior management. Negotiated contracts and organized integration of acquired businesses into the Hertz Equipment Rental Corporation system.
Edison Control Corporation, New York, NY 1995-1998
President and Chief Executive Officer
- Recruited to completely change the strategic focus of Edison Control Corporation, a public shell (Nasdaq:EDCO) with $10 million of cash, by acquiring a company in an unrelated industry.
- Evaluated over 200 possible acquisitions in a wide variety of industries from my broad deal referral network before finding and recommending to Edison’s board the leveraged acquisition of Construction Forms, Inc., a manufacturer of specialty piping systems.
- Structured, performed due diligence, negotiated contracts and arranged financing for the acquisition, which closed in June, 1996. Edison’s initial $5 million of equity is currently valued at over $35 million.
- Greatly improved the Company’s performance in all areas. Sharply reduced inventories, increased operating margins, created a global strategic marketing plan and a strong sales organization in the U.S., Europe, Asia and South America.
Beechtree Capital Partners, Inc., New York, NY 1990-1994
Managing Director
- Founding partner of this boutique private equity firm acting as principal in leveraged buyouts of middle market companies.
- Sourced, analyzed, evaluated and structured numerous potential acquisitions. Negotiated contracts, arranged financing and performed due diligence on companies acquired. Handled relationships with commercial banks, investment banks and co-investors and developed broad deal referral base.
- Acquired a consumer products company valued at $33 million and a manufacturer of commercial cooking appliances valued at $19 million in leveraged transactions. The manufacturer of commercial cooking appliances was recently sold at a return to investors of over 28x invested capital.
- Monitored investments through extensive board level interaction with senior executives, including refining strategy, realizing operational efficiencies, identifying add-on acquisitions and recognizing exit opportunities.
Advest, Inc., Hartford, CT 1983-1989
Vice President, Corporate Finance Department
- Originated, planned and executed public offerings and private placements to raise capital for middle market corporate finance clients. Evaluated and participated in mergers and acquisitions, leveraged buyouts and tender offers.
EDUCATION
Barney School of Business, Hartford, CT
Certificate in Accounting-equivalent to BS in Accounting
Masters of Science in Accounting and Taxation (to be completed in December, 2009)
Yale School of Management, New Haven, CT
MBA, Finance
Wellesley College, Wellesley, MA
BA, Russian, Wellesley Scholar
DIRECTORSHIPS
Edison Control Corporation 1995-2002
Star Manufacturing International, Inc. 1994-2003 |
