2023 – present Corporate Development Officer, Pacific Industrial Development Corporation (PIDC)
Ann Arbor, Michigan
Privately held company that develops and manufactures custom specialty chemicals, inorganic materials, and ceramic-enabled electronic components, having R&D operations, manufacturing operations and sales offices throughout the world.
Lead PIDC’s strategy of growth through acquisitions and strategic partnerships. Maintain systems and processes to sustainably originate acquisition opportunities. Manage engagement with potential candidates and deal sources, from initial solicitation through closing and integration.
Key Contributions:
- Led PIDC’s deal team in successfully bidding for, winning, and closing on the acquisition of Trans-Tech (Adamstown, MD; Cork, IE) from Skyworks Solutions (Irvine, CA; NASDAQ:SWKS)
- Participate in post-merger integration of Trans-Tech and manage post-transaction matters with the seller
- Established PIDC’s corporate development function, systems and methods as a continuing business process
2016 – 2022 Managing Director, The Amherst Fund, Ann Arbor, Michigan
Closely held fund investing in equity, sub debt and senior debt of privately held companies across many sectors as well as in marketable securities and fund-of-fund investments
Led the fund’s engagement with its privately held portfolio companies, successfully achieving the fund’s financial and non-financial objectives for those businesses. Served portfolio companies as advisor, director, fractional CFO, and project leader as needed. Participated in the general management and administration of the fund, including oversight of accounting, tax and legal services.
Key Contributions:
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Led the planning, preparation and execution of the fund’s highly successful strategic sale of Saline Lectronics (Saline, MI) to Emerald EMS (Salem, NH)
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Functioned as Sellers’ Representative for the selling shareholders of Saline Lectronics, maximizing the substantial value available to them in post-transaction matters including contingent consideration, complex tax strategy, and escrow releases
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Formulated and executed an effective financial distress mitigation plan for Espresso Royale, a 15-unit chain of cafes, bakeries and roastery (located on Big Ten college campuses, the business was devastated by the pandemic shut-downs)
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Formulated and executed an effective financial distress mitigation plan for Michigan Ladder Company (Ypsilanti, MI), a manufacturer of wood, fiberglass and aluminum ladders (as a low-margin manufacturer, the business was devastated by import tariffs as well as pandemic-driven supply-chain disruptions and labor shortages)
- Continue to serve as Fund Advisor
2014 – 2016 Interim CFO, Fractional CFO and Strategy Advisor for Companies in Transition
Served privately held companies needing transformation of their financial management function; notable cases include Omnex, Inc. and Jack Doheny Company:
Omnex, Inc., Ann Arbor, Michigan: Omnex is a global provider of training, consulting, staffing and software solutions focused on quality management disciplines including Lean, Six Sigma, Operational Excellence and international standards compliance.
Key Contributions:
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Implemented enhanced financial reporting, control and performance for global operations in the U.S., Europe, Asia and the Middle East
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Created robust forecasting tools for bookings, billings, and collections, enhancing revenue and cash projections
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Realigned the company’s sales and fulfillment functions in the U.S., improving effectiveness and efficiency
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Improved project management practices across offices
- Continue to serve as Shareholder Advisor
Jack Doheny Company, Northville, Michigan: Jack Doheny Company is a major nation-wide dealer of specialized heavy equipment including vacuum trucks, and operates the largest rental fleet of such equipment in North America.
Key Contributions:
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Led the 25-person Finance, Accounting and Administration Department through substantial cultural change, functional reorganization and performance improvement after the unexpected departure of the long-time CFO
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Reorganized the department, elevating the Controller position, creating a Treasurer position and forming a Family Office to establish sustainable effectiveness and functionality
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Reduced period close times, established new branch financial reporting, instituted sophisticated liquidity management practices
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Enhanced quarterly internal and external financial reporting and forecasting
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Established forecasting tools for capital equipment purchases and funding
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Contributed significantly to the company’s success in attracting a new $260 million multi-bank senior credit facility to fund expansion
1996 – 2013 Managing Director, Amherst Partners, Birmingham, Michigan
Boutique investment banking and consulting firm serving middle-market clients across all industries throughout the Great Lakes region (Amherst Partners is unrelated to the Amherst Fund, above)
Successfully originated, managed and executed numerous client engagements across all sectors in both the investment banking and consulting practices. Investment banking projects included exits, divestitures, acquisitions and capitalizations for both strategic and financial purposes; consulting assignments included crisis management, turnaround management, interim management and performance improvement advisory engagements. Expertly managed project teams including clients, legal counsel, accounting professionals, bankers, and consultants to successfully achieve client objectives.
Key Contributions:
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Originated and managed the strategic sale of Whedco (Ann Arbor, MI) to General Electric (New York, NY); a highly successful exit in the factory automation sector
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Participated in managing the restructuring and recapitalization of the Michigan Science Center (Detroit, MI), a highly successful turnaround of this prominent not-for-profit institution in STEM education and engagement
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Originated and managed the strategic sale of Automotion (Ann Arbor, MI) to Infranor Inter AG (Zurich, CH); a highly successful exit in the factory automation sector
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Managed the strategic divestiture of American Litho (Grand Rapids, MI), a unit of Konica Minolta (Tokyo, JP), to Southern Lithoplate (Wake Forest, NC); a successful resolution of a non-strategic holding for Konica Minolta
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Managed the strategic divestiture of Toledo Tool & Die’s TTD Mexico business unit (Querétaro, MX) to Gill Industries (Grand Rapids, MI); a successful resolution of a distressed business unit
1986 – 1994 Progressive positions, Michigan National Bank, Grand Rapids, Ann Arbor and Detroit, Michigan
Major regional full-service consumer and commercial bank, ultimately subsumed in Bank of America via acquisition
Successfully originated and managed numerous commercial client relationships for the bank including credit, treasury services and other bank offerings. Clients ranged from start-up businesses to billion-dollar international operations; transactions ranged from working capital and equipment finance to acquisition funding.
Key Contributions:
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Managed the bank’s participation in the Domino’s Pizza global credit syndication
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Managed the bank’s credit extension to Tom Monaghan’s family office, including credit accommodation for his sale of the Detroit Tigers to the Mike Illitch organization
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Managed the issuance of acquisition funding for the purchase of Active Aero Charter by an investor group led by the Hermelin family of Detroit; AAC is a major Detroit-based fast freight expediter
1995 The University of Michigan, Ann Arbor: Master of Business Administration
High Distinction, Beta Gamma Sigma National Honor Society
1986 Grand Valley State University, Allendale, Michigan: Bachelor of Business Administration
magna cum laude, Delta Mu Delta National Honor Society
