Operating Partner " CEO " Managing Director
Multinational Consumer Products and Services Companies
Private Equity and Turnaround Situations
Professional Background in two Fortune 50, two Fortune 100, and 30+ Private Equity Companies. General management, operational and strategy leadership across multiple B2B and B2C industries that include consumer products, manufacturing and distribution, business services, health care, direct marketing, franchising, food and beverage, durable goods, medical device, restaurants and automotive (OEM).
Senior Management Experience. Build highly talented management teams that develop new products and revenue streams, expand margins, improve EBITDA, create and implement strategic plans, meet M&A origination targets and maximize the multiple of money on exit. Board Director on ten Boards and CEO Coach.
Company Growth and Turnarounds. Highly adept creating and implementing the strategies that revitalize and grow companies to the next level of performance and revenue through working capital reductions, cash management, organic growth, new product introductions, acquisition and organizational structure redesign. True P&L leader who succeeds in capital constrained environments.
* Optimized exit of a $150MM portfolio company achieving a 3.4X multiple and a 49% IRR.
* High-engagement board member of a portfolio company that achieved 6.0X multiple on exit.
* Increased portfolio company revenue 4.5X to $450MM and EBITDA 5.3X with synergies in two years.
* Member of the executive committee accountable for entire transaction lifecycle including management meetings, 100-day planning, performance improvement, organizational development and exit.
SUN CAPITAL PARTNERS, INC.
* Directed a $600MM SCP portfolio company to a successful exit generating a 200% IRR.
* Managed $1.3B SCP portfolio company to a $55MM EBITDA improvement in two years.
* Created and installed management reporting, metrics and formats to monitor and manage value creation in 20 portfolio companies for a $5B fund.
* Restructured $700MM+ Sunbeam International increasing EBITDA 50% in two years.
* Turned around Sunbeam Outdoor Cooking in 14 months, generating 40% revenue increase, reversing $110MM loss.
CONSTELLATION BRANDS, INC.
* Doubled Constellation Wine US Inc.s operating profit to $56MM in two years.
GRYPHON INVESTORS 2009 2013
Gryphon Investors is a highly respected private equity firm focused on middle market investment opportunities managing more than $900MM in assets. Gryphon differentiates itself with deep operational expertise integrated into all aspects of the business model from sourcing through optimizing the exit of each engagement.
Partner San Francisco, CA
Member of Investment Committee; accountable for sourcing prospective investments, due diligence, annual operating and strategic plans; organizational development; mentoring and oversight of portfolio company CEOs; and holding respective portfolio company management teams accountable for achieving valuation targets and exit optimization.
* Increased Gryphon portfolio company revenue 4.5X to $450MM and EBITDA 5.3X with synergies in two years.
* Drove organic growth 10%; completed two acquisitions doubling portfolio company revenue twice in 12 months.
* Lead and managed closing of two strategic platforms and six significant add-on acquisitions in two years.
* Accountable for optimizing exit of Gryphon portfolio company resulting in 3.4X multiple and 48% IRR.
* Opened 40+ DeNovos and integrated 45+ add-on clinics for portfolio company resulting in tripling of EBITDA.
SUN CAPITAL PARTNERS, INC. 2005 2009
Leading private equity firm managing $10B of capital focused on leveraged buyouts, which can benefit from its experience and in-house operating professionals. Since inception Sun Capital Partners has managed companies with combined sales of $40B with 170,000+ employees.
Managing Director Boca Raton, FL (2005 2009)
Recruited, mentored and coached 20 CEO's. Held respective portfolio company management teams accountable for metrics including sales, EBITDA, free cash flow and valuation targets. Accountable for $3.5B in revenue.
* Directed $600MM Sun Capital Partners portfolio company to successful exit. Increased both sales by $100MM and EBITDA by $20MM generating 58x multiple and 200% IRR.
* Managed $1.3B SCP Portfolio Company to positive EBITDA and cash flow in one year. Achieved $55MM EBITDA improvement in two years; reduced working capital by $40MM.
* Directed strategic and annual planning for 20+ portfolio companies.
* Improved EBITDA at $300MM+ food processor from ($25MM) to positive $5MM.
* Managed Tier One auto supplier through successful bankruptcy filing; emerged free cash flow positive.
TRIVEST PARTNERS, L.P. 2002 2005
Private equity firm and leading provider of equity for middle market corporate acquisitions, recapitalizations and growth capital financings. Trivest has sponsored more than 115 acquisitions and recapitalizations, totaling over $2B in value. Trivest investments include Aero Products and Banana Boat. Reported directly to the COO of Trivest.
President and CEO, Trivest Brands Pompano Beach, FL (2001 2005)
President and CEO, Dyno Merchandise (2002 - 2005)
Chairman and CEO, Corvest Promotional Products, Inc. (2003 - 2005)
President, Precious Moments, Inc. (2003 - 2005)
* Completed a $60MM refinancing at Corvest with no capital infusion from primary equity sponsor.
* Drove $8MM debt reduction at Corvest.
* Recruited high caliber senior executive teams: including 4 CEOs, SVP Sales and Marketing, and CFO.
* Reduced combined Corvest and Dyno SG&A by $2MM.
* Drove $1.8MM reduction in COGS for Dyno Merchandise by negotiating with current Asian vendors.
* Reduced COGS at Corvest by $3.4MM by driving operational efficiencies and reducing product cost.
SUNBEAM CORPORATION 1998 2002
$2.4B leading international consumer products company sourcing, manufacturing and marketing a diverse portfolio under brand names of Sunbeam, Coleman, Oster, Powermate, Campingaz, Mr. Coffee, First Alert and Timberland. Recruited as member of Jerry Levin's turnaround team. (Post Al Dunlap)
President, Sunbeam International Boca Raton, FL (2000 2002)
P&L responsibility for $700MM+ international business operating in over 30 countries. Organization included 2,200 employees across five regions (Latin America, Europe, Canada, Japan and Asia Pacific), corporate staff, R&D centers, regional sales and distribution facilities, as well as three plants in France, Italy and Venezuela. Direct reports include five presidents, CFO, SVP Sales & Marketing, Supply Chain and HR. Reported to Chairman/CEO.
* Staffed international team with two Presidents, CFO, VP Supply Chain and Business Development manager to improve financial controls, logistics and sales execution.
* Increased EBITDA 50% and reduced working capital $20MM.
* Led global relationship with Wal-Mart, resulting in double-digit sales growth with world's largest retailer.
* Negotiated global agreement with Carrefour and drove double-digit growth with world's second largest retailer.
* Created Pan European group; consolidated 10 regions into four resulting in $10MM cost reduction.
* Developed and led execution of strategic plan resulting in restructuring corporation into four global businesses.
President and General Manager, Sunbeam Outdoor Cooking Boca Raton, FL (1998 2000)
Global P&L responsibility of $325MM Sunbeam and Coleman Outdoor Cooking business. The organization included 900 employees in two locations. Reported directly to Chairman and CEO.
* Turned around business in 14 months, reversing $110MM loss and grew sales 40%.
* Designed, developed and introduced Coleman Grill and accessory line, achieving 30% gross margins and generating $60MM in incremental revenues in one year.
* Utilized Six Sigma and continuous improvement philosophy saving more than $20MM annually.
* Designed and constructed one million sq. ft. distribution facility, generating $10MM in savings.
* Developed global sourcing program with Wal-Mart to import generating $500,000 in licensing revenue.
* Positioned Sunbeam grill business for divestiture, generating $22MM in cash and alleviating $150MM of annual working capital requirements.
CONSTELLATION BRANDS, INC. (formerly Canandaigua Brands Inc.) 1997 1998
$1.5B wine, spirits and beer corporation
Group President, Constellation Wine US Inc., Canandaigua, NY
P&L responsibility for a $700MM international wine business comprised of four business units - Table Wine, Specialty Products, Premium Wine and International - with 1,200 employees and five wineries. Reported to CEO.
* Grew operating profit by 100% to $56MM.
* Developed and introduced Arbor Mist and Mystic Cliffs brands. Arbor Mist created new category and exceeded $45MM in sales and contribution of $5.5MM in Y1 versus plan of $15MM and ($1.3MM).
BAUSCH & LOMB 1994 1997
$2B eyewear and health care company
President, Bausch & Lomb North American Eyewear Rochester, NY (1996 1997)
P&L responsibility for a $300MM North American sunglass business, with brands including Ray-Ban, Liz Claiborne and Revo. The organization included 500 employees including three business units. Reported to CEO.
* Created and executed national advertising campaign with Men in Black tie-in partner Columbia Tri-Star. Increasing sales at Sunglass Hut 200%.
President and CEO, Dahlberg, Inc. Golden Valley, MN (1994 1996)
P&L accountability for franchise hearing aid company with sales of $200 million at retail. Organization included 250 domestic franchises with 1,000 offices, multiple international distributors as well as direct reports in marketing, sales, franchise operations, manufacturing, R&D, finance, IT, legal and HR. Reported to Group President.
* Turned around $200MM B&L business unit in two years, growing operating income $21MM, and cash flow $25MM, while increasing revenues 60%.
ADVO, INC. 1990 1994
$700MM full service direct mail database marketing company
Vice President & General Manager Pittsburgh, PA
P&L responsibility for $50MM operation with 220 employees. Direct reports included sales management in three states, customer service, financial services, human resources and operations. Reported to Division President.
* Led turnaround, reversing $2MM operating loss in 1990 and delivering $9MM operating profit in 1994 while driving annual revenues from $33MM to $53MM.
PEPSICO PEPSI COLA COMPANY 1982 1990
Area Vice President Grand Rapids, MI (1988 1990)
P&L control of $250MM business consisting of eight regional warehouses, production facility and 800 employees.
* Developed 20 oz. bottle multi-pack, including: concept development, test market and roll out. Increased operating profit 20%, concentrate profit 30%. 20 oz Michigan program became standard for national rollout.
Prior PepsiCo roles included Business Development Manager, MN (1986 1988); District Manager, San Francisco, CA (1984 1986); District Manager, El Paso, TX (1982 1983); Assistant to the Regional Manager, San Francisco, CA (1982).
JOHNSON AND JOHNSON 1980 1982
Territory Manager and Trainer Health Care
Bachelor of Science, Food Systems Economics and Management; Michigan State University, 1980
Trinty Consultants, Inc. (2011 Present)
TrustHouse Services Group, Inc. (2010 Present)
Intelligrated, Inc. (2009 2012)
Walbro Engine Management (2006 2009)
Tyde Group Worldwide (2006 2009)
Creekstone Farms Premium Beef (2006 2009)
Edwin Watts Golf Shops (2007 2009)
Fazolis Restaurant Group (2007 2009)
Searles Valley Minerals (2005 2007)
Corvest Promotional Products, Inc.(2003 2005)
Buffalo Wild Wings, Inc. (1995 2002)
International Hearing Foundation (1995 1996)