Matt is a Senior Managing Director with over 25 years of experience providing financial and operational advisory services to distressed organizations. Matt joined Mackinac Partners (acquired by Accordion in 2021) in 2002 and focuses his work on leading and partnering with management teams through (i) turnarounds and restructurings or (ii) post-acquisition value creation.
Matt typically represents underperforming companies, including those in Chapter 11 or out-of-court restructurings, but also has experience across the capital structure including lenders and buyers. While Matt has worked in many industries, he has the deepest expertise in manufacturing environments, consumer products, and hospitality.
Matt has experience serving in C-Level roles at companies undergoing significant change, including the following:
- CRO of a $500 million multi-protein manufacturer facing significant headwinds from labor disruption (immigration), lost customers, and volatile protein commodity markets. Headwinds led to liquidity challenges and a change of control transaction.
- De facto CRO of a poultry processing company successfully navigating a challenging capital structure to wind down core operations, maintain critical assets, and sell the company to a competitor through a rare §721 (operating chapter 7) sale process.
- Chief Transformation Officer of a B2B mass communications company, with the CEO and CFO as direct reports. Negotiated restructuring which included lender and investor participation and reorganized executive team to facilitate stability, turnaround and growth.
- CEO (6 mo) and CFO (12 mo) of a B2B electronic device repair and refurbishment company. Led the Finance, HR, IT and Legal functions during the company’s repositioning away from mobile products subsequent to the loss of a material customer. In addition to dramatically improving EBITDA, Matt helped settle over $20 million in legacy liabilities and create a culture of discipline and accountability
- CFO of a managed services and hosting company. Managed customary distressed treasury functions while also negotiating a forbearance agreement and designing / executing a plan eliminating 20% from operating expenses.
- De facto CFO of a multi level marketing jewelry company. Led the executive team and operations while advising the Board in its evaluation of strategic options, concluding with a successful transfer of the business to the secured lender.
Additional notable recent engagements include advising a breaded chicken manufacturer, a struggling vegetarian fast casual restaurant concept, and a plastics manufacturing business.
Matt also has significant acquisition experience, including:
- Led a Corporate Development team through the acquisition and integration of eight timeshare and resort businesses facing varying levels of distress with total transaction values of greater than $450 million, over a six year period.
- Advised an independent sponsor on six acquisitions – oilfield services device manufacturer, chemicals manufacturing, a direct mail home improvement business, a leading provider of mass communication services, and a horizontally integrated B2C timeshare services business. In addition to buy-side diligence, Matt was then responsible for development and implementation of a strategic value creation plan to grow EBITDA and professionalize the businesses. Matt serves on the Board of Directors, or as a Board advisor to, four of these companies.
Matt earned his B.A. in accounting from Michigan State University and his M.B.A. from the Eli Broad Graduate School of Management at Michigan State University. Within the private equity and turnaround industries, he has served as a Board member or chairperson in the Turnaround Management Association, American Bankruptcy Institute (ABI), and Middle Market Open. Matt is a Certified Insolvency and Restructuring Advisor (CIRA) and Certified Turnaround Professional (CTP).