Matt is a Senior Managing Director with more than 20 years of experience providing financial advisory, restructuring, and turnaround services to large and middle market companies and their stakeholders. Matt’s practice has primarily focused on assisting companies stabilize operations, improve performance, and explore strategic alternatives. He also has significant experience assisting clients with acquisition due diligence for distressed target companies, business assessment and plan development, development and implementation of restructuring initiatives and assisting companies in “out-of-court” and Chapter 11 restructurings.
Matt has served as Chief Restructuring Officer (“CRO”) and in lead restructuring advisory roles for distressed or underperforming companies in a wide range of industries including Construction, Consumer Products, Equipment Leasing, Industrial Manufacturing, Professional Services, Restaurant, Retail, and Travel & Hospitality. Matt’s CRO experience includes an engagement for a commercial printer serving the print media and educational industries, a multi-faceted consumer packaging company, a boutique cruise operator, a large arts and crafts retail chain and a regional home based health care provider.
Recently, he served as the financial advisor to the secured lender of a national business events management firm, dramatically impacted by Covid-19 stay at home requirements. The engagement included working with management to assess the current state of the business, potential impact of the digital offering, understanding negotiated real estate deferral economics and development of a fully integrated multi-year business model to assess the range of bridge financing needs.
Matt also served as the CRO of a large industrial equipment manufacturer which had experienced a multi-year drop in OEM sales. Given the highly leveraged balance sheet, the engagement included identifying performance improvement opportunities to improve operating economics in combination with determining potential non-core assets that could be divested in order to de-lever the capital stack.
Matt has considerable experience in Travel & Hospitality, including recently serving as the CRO for Advantage Rent A Car, a national rental car company. The engagement included the preparation of a business plan, liquidity management and an assessment of strategic alternatives, which ultimately lead to the sale of the business in a 363 process.
Matt’s consumer products experience includes leading the engagement for a building products company specializing in closet doors, wall décor, systems and hardware, and fabricated glass. The engagement included a business plan assessment, preparation of a facility consolidation plan, and the development of balance sheet restructuring alternatives –which ultimately led to marketing the business for sale as a going concern. Although the sale proceeds resulted in a deficiency to the second lien lenders, the transaction was effectuated out of court with 100% stakeholder approval.
Prior to joining Mackinac Partners, Matt was a Managing Director in Deloitte’s Corporate Restructuring Group. He was also a Partner at CRG Partners prior to their acquisition by Deloitte.
Matt earned a B.S. in Accounting from the University of Massachusetts. He is a former board member of the Northeast Chapter of the Turnaround Management Association, as well as a member of the Association of Insolvency and Restructuring Advisors.
“Yesterday’s home runs don’t win today’s games.” – Babe Ruth