Senior banker and deal team leader with extensive corporate finance experience carrying out leveraged buyouts and general acquisitions for private equity groups and corporate relationships. Experienced in leveraged and acquisition finance, financial advisory, utility finance, and project finance. Significant transactional experience with management buyouts, leveraged buyouts and creating stand-alone companies from large corporate parents through divisional spin-offs.
PROFESSIONAL EXPERIENCE
US DIVISION OF A MAJOR CANADIAN INVESTMENT BANK
Executive Director, Leveraged Finance- Structuring Group- 1997 to Present
Senior structurer/advisor and deal team leader, focused on leveraged buyouts, recapitalizations and general acquisitions for core private equity groups and corporate relationships. Work in partnership with clients to acquire businesses that may be under- performing or are under-capitalized; companies that are in need of both financial skill and operating expertise; and companies that have synergistic potential as either a stand alone or combined with existing portfolio companies. In-depth industry knowledge of the power and utility and oil and gas sectors, as well as transactional experience with consumer products, telecommunications, steel, and general manufacturing sectors.
I manage all financing aspects of an acquisition, including originating transactions, developing financial structures, performing extensive business and accounting due diligence, negotiating contracts and financing documents, and placing/syndicating lead arranged deals. Work directly with senior debt, high yield, and equity capital market groups on transactions involving multiple layers of a capital structure. Proficient in corporate and debt restructuring and have an in-depth knowledge of structured finance, credit, risk management, and derivatives/trading. Skilled in client and investor presentations and experienced with several investor classes.
¨Structured, executed and syndicated over $20 billion in both domestic and international recourse, non-recourse and acquisition financings in a Lead Arranger/Co-Lead Arranger capacity.
¨Acted in a Financial Advisor and M&A Advisor role for over $6.0 billion of financings. Provide financial advisory services, in partnership with clients, to identify growth opportunities and implement fundamental operating and strategic changes while optimizing the capital structures of new or existing portfolio companies.
¨Successfully advised, structured and arranged the financing for the industry’s first leveraged buyout of an integrated investor owned utility and the first leveraged buyout of an electric transmission company. The investor owned utility buyout was voted “Deal of the Year” by Buyouts Magazine.
US DIVIDION OF A MAJOR UK INVESTMENT BANK
Director- Structured Finance Division- 1991 to 1997
Specialized primarily in domestic investor-owned electric utilities, independent power companies, infrastructure projects and other capital-intensive industries that require acquisition or project finance. Transactional experience included project financings for contracted and merchant coal and gas-fired power generation plants. Primary responsibilities included originating transactions, performing due diligence, structuring and executing transactions (including internal credit presentations) and negotiating contract and financing documents. Team leader on multiple corporate recourse transactions and non-recourse project financings for core clients. Represented several clients as principal team member on successful Financial Advisory and M&A Advisory assignments.
Associate- Utility Finance Group- 1986 to 1991
Instrumental in developing a “banking franchise” in which BZW acted as Financial Advisor and Lead Arranger to a portfolio of electric utility and independent power clients. Responsibilities included credit analysis, preparation of pitch books and information memorandums, preparation of internal credit presentations for senior management, financial modeling, structuring, executing and documenting transactions, and portfolio management.
A MAJOR US REGIONAL BANK
Lending Officer/Senior Analyst-Middle Market Division- 1983 to 1986
Supervised over 20 Credit Analysts in the Commercial Middle Market Leveraged Lending Division. Other responsibilities included client management and originations, credit analysis, portfolio maintenance and financial modeling. Completed formal Credit Training Program conducted by Chemical Bank, N.A.
EDUCATION
Columbia University, Graduate School of Business
MBA, Finance, 1997
Villanova University, May 1983
B.S. Business Administration
Personal
Born December 15, 1960; Married, 2 children; 6’2’, 180 lbs
Selected Transactions
$610 million leveraged buyout of an electric transmission company by a top tier private equity group.
Structured and arranged the financing necessary to complete the acquisition. The electric transmission company was spun-off from a major investor owned electric utility simultaneous with the buyout. Title Roles include: Lead Arranger and Book Runner for the senior debt, M&A and Financial Advisor
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$980 million leveraged buyout of an investor owned utility by a top tier private equity group.
Structured and arranged the senior debt and acted as a principal member of the Financial/M&A Advisory team. The leveraged buyout of the company was the first time a publicly owned utility was taken private by financial investors, and was the first financing of its type. The Buyout was voted “Deal of the Year” by Buyouts Magazine. Title Roles include: Lead Arranger and Book Runner for the senior debt, Co-Joint Book Runner manager for subordinate debt (CIBC on the left), Lead Equity Underwriter, Financial/M&A Advisor.
$308 million leveraged buyout of an electric transmission company by a large corporate group.
Structured and arranged the financing necessary to complete the acquisition. The electric transmission company was spun-off from a major electric investor owned utility simultaneous with the buyout. The leveraged buyout of the transmission company was the first time in the industry that transmission assets were spun-off, and privately held by an independent company. Title Roles include: Lead Arranger and Book Runner for the senior debt, M&A and Financial Advisor.
$1 billion acquisition of an electric utility by a major investor owned utility.
Co-structured and co-arranged bridge financing and senior debt necessary to complete the acquisition. Title Roles include: Co-Arranger for the senior debt, Joint Financial Advisor.
$112.5 million recapitalization for a privately held regulated electric utility.
Structured and arranged the financing needed to re-capitalize an affiliate company. Title Roles include: Lead Arranger and Placement Agent, Financial Advisor.
$35 million leveraged buyout of a test and measurement company by a top tier private equity group.
Co-structured and arranged the financing necessary to complete the acquisition. The Company performs test and measurement functions for the telecommunication and defense industries. The Company was a division of a French based global technology company, that was spun-off simultaneous with the acquisition. Title Roles include: Co-Lead Arranger and Joint Book Runner.
$500 million leveraged buyout of the consumers product company by a top tier private equity group.
Structured and arranged the financing necessary to complete the acquisition. The Company was the consumer food division for a major conglomerate, and the spin-off occurred simultaneous with the buyout. Title Roles include: Lead Arranger and Book Runner for the senior debt.
$575 million acquisition of a major US company by a German company.
Structured and arranged the senior debt and subordinate bridge necessary to complete the acquisition. Simultaneous with the acquisition, the combined entity issued stock in an IPO. Title Roles include: Lead Arranger and Book Runner for the senior debt, Book Runner for the Euro senior subordinated notes, Lead Arranger for a subordinate bridge, Co-Manager for the IPO.
$637 million Reorganization and Leveraged Buyout of a major manufacturing company by a private equity group.
Structured and arranged the senior debt and subordinate bridge necessary to complete the reorganization and the subsequent acquisition. The Company was a US wholly-owned subsidiary of a Mexican based truck and bus manufacturing company. Title Roles include: Lead Arranger and Book Runner for the senior debt, Book Runner for high yield subordinated notes, Lead Arranger for a subordinate bridge, Dealer/Manager in the tender offer for Senior Secured Notes, Financial/M&A Advisor.
$315 million senior credit facility for a major US investor owned electric utility.
Structured and arranged the senior debt for the Company’s primary revolving credit facility. Title Roles include: Lead Arranger and Book Runner for the senior debt, Financial Advisor.
$325 million senior credit facility for privately held electric utility.
Structured and arranged the senior debt. Title Roles include: Lead Arranger and Book Runner for the senior debt, Financial Advisor. |
