Engineer Civil Engineering

Stephen T. Kapsalis, P.E., P. Eng.

**** ******* ******* ******: 918-***-****

Prospect, KY 40059 E-mail: **********@***.***

USA

CAREER SUMMARY

A successful career as a senior executive in the power, environmental, oil & gas, and chemical industries in the United States and abroad. Significant experience in generating organic revenue growth in healthy organizations and orchestrating financial and operating performance turnarounds of underperforming assets. A solid record of achieving significant sales and profit growth while reducing direct & indirect expenses, working capital requirements, and debt in a concerted effort to create “Prime Value” for the shareholders.

EXPERIENCE

CAPSTONE EQUIPMENT, Louisville, KY November 2016 – Present

Vice President – Power & Process

Leading the strategic planning, sales & marketing, engineering management, and manufacturing operations of this this company’s power and process market operations. Provide engineering design and fabrication of piping systems, pipe racks, process skids, pressure vessels, by-pass stacks, silencers, ductwork, and structures in accordance with ASME STS1, ASME Section I, Section VIII, B31,1, and B31.3, and AWS structures from a wide range of steel and steel alloys.

Successfully marketed Capstone to the major power OEM’s (Siemens, GE, MHPS), EPC firms (Black & Veatch, Burns & McDonnell, Kiewit), and Oil & Gas firms (Shell, ConocoPhillips, Marathon) for participation in the bidding for power & process plant equipment supply.

Started Capstone Equipment Mexico S de RL de CV in Monterrey, Mexico to provide high quality, competitively priced fabrication of Capstone Equipment, LLC and third-party equipment in-house.

EXPRESS GROUP HOLDINGS, Tulsa, OK April 2013 – October 2016

CEO

Implemented the “Prime Value” strategic planning process and led the major restructuring for this $125 - $140 million/year business with approximately 400 employees located at six (6) facilities through Oklahoma, Utah, Indiana, and Calgary. Recruited by a private equity firm to improve the operating efficiency and financial performance of this underperforming portfolio company. This group of companies designs and/or fabricates Once-Through Steam Generators (OTSG) for thermal enhanced oil recovery projects, Heat Recovery Steam Generators (HRSG), Simple Cycle Catalyst Systems (SCR), Waste Heat Recovery Units (WHRU), and Acoustical Silencers, Shrouds, and Enclosures for customers such as ConocoPhillips, Devon Energy, Siemens, GE, Duke Energy, and Constellation Energy.

Reduced SG&A by $1.7 million.

Restructured credit facility.

Introduced global sourcing initiative to reduce material and component cost by sourcing in Asia and Mexico.

Improved annual EBITDA by $15+ million from 2013 – 2015, excluding any one-off gains.

Navigated the step decline of oil prices in late 2014 which resulted in the loss of a significant source of revenue.

VOGT POWER INTERNATIONAL, Louisville, KY November 2009 – April 2013

President & CEO – Heat Recovery Systems subsidiary of Babcock Power

Led strategic planning process, implemented detailed action plans, and provided daily leadership for this $250 - $300 million/year business with approximately 225 employees. Vogt Power is a premier supplier of Heat Recovery Steam Generators (HRSG) to utilities, gas turbine O.E.M.s, and independent power producers (IPP) around the world.

Opened Vogt Power’s first international sales, engineering, and operations office in Bang Na, Thailand to better serve the customer base in that region.

Created and led a marketing plan to increase sales of HRSG units to Siemens Energy, GE, Calpine, Gama, and Enka. This effort culminated in the award of multiple HRSG units in Venezuela, Thailand, Latvia, and the U.S.A.

BABCOCK POWER, Louisville, KY July 2009 – November 2009

COO

Completed a functional department assessment of Babcock Power Services, Babcock Power Environmental, Vogt Power, Riley Power, and Thermal Engineering International.

Introduction, training, and support of the Prime Value strategic planning methodology throughout the organization.

Led the evaluation of the Babcock Power manufacturing footprint leading to the closure of the Erie, PA, and Houston, TX operations.

CAPSTONE ENGINEERING, Louisville, KY March 2008 – July 2009

Principal, President and CEO

Founded Capstone Engineering, LLC to fill a void in the market providing superior technical solutions to the power and industrial markets in the Midwest. Led the recruitment of the most highly qualified engineers and designers and equipped them with the latest engineering software to prepare solutions to our customers’ most sophisticated problems.

Developed and implemented a marketing plan to successfully introduce Capstone to the major power producers (LG&E/KU, Duke, AEP) and heavy industrial manufacturers (North American Stainless, Charah, Essroc) in the Ohio River Valley.

AAF INTERNATIONAL, Louisville, KY 2003 – October 2007

President & CEO – Board of Directors OYL Industries, Member of Kuala Lumpur Stock Exchange

Led the turnaround of this $500 million/year business with 2860 employees and 22 factories supporting sales in 69 countries, reversing 10 years of -1% CAGR to achieve 4 years of 14% CAGR. The Air Filter Division serves commercial & industrial facilities, “Big Box" retailers (The Home Depot, Lowes, Wal-Mart, etc.); and semiconductor and non-semiconductor clean room owner/contractors (Intel, Infineon, Seagate, etc.). The Power & Industrial Division provides ancillary equipment to major gas turbine OEM’s (GE, Alstom, Mitsubishi, Rolls-Royce, etc.) and end-users; air pollution control systems to major international power, steel, and cement producers (TVA, British Steel, Holderbank, Lafarge, etc.); and filters and equipment to nuclear power plants, processing facilities, and research laboratories. Each division has an independent, robust, and growing aftermarket parts & service segment

Increased sales organically from $299 million to $517 million from July 2003 through December 2007 (forecast as of November 2007) for a 14% annualized growth rate.

Increased operating profit by 105% over the same period. Shareholders realized significant gains from this creation of “Prime Value” when acquired by Daikin Industries, Ltd in 2006 at a valuation of 21 times EBITDA.

Established 3 factories and 12 sales offices on mainland China to become the air filter market leader in China.

Launched the Gas Phase Filtration Business to complement AAF International’s 85 year focus on particulate filtration.

Rebuilt R&D organization with 2 new laboratories, developed proprietary media, increased annual spend by 200%.

AAF INTERNATIONAL, Louisville, KY 2000 - 2003

Vice President & General Manager – Power & Industrial Division

Led the reorganization of this $125 million/year global business from a geographic structure to a “Center of Excellence” structure to improve product reliability. Increased operating profit from $7.3 million to $12.0 million during this period. Standardized equipment offering, migrated manufacturing to “Low Cost Country”, and introduced Global Sourcing.

AAF INTERNATIONAL, Amsterdam, Netherlands 1995 - 2000

Vice President & General Manager - AAF Europe/Africa/Middle East

Provided planning, leadership, and daily direction to this $200 million/year business from the Amsterdam regional headquarters. Led the restructuring of this business unit reducing SG&A expense and improving profitability by 200%. Established world class subcontract manufacturing infrastructure in Eastern Europe, Asia, and Latin America.

WINTER WELDING & MACHINE CORPORATION, York PA 1990 - 1995

Principal, President and CEO

MCCLURE COMPANY, Harrisburg, PA 1988 - 1990

Project Manager - Heavy Industrial Projects

PULLMAN POWER PRODUCTS CORPORATION, Williamsport, PA 1986 - 1988

Engineering & Contracts Manager

PULLMAN POWER PRODUCTS CORPORATION, Waynesboro, GA 1984 - 1986

Engineering Manager, Plant Vogtle Nuclear Power Unit #2

PULLMAN POWER PRODUCTS CORPORATION, Avila Beach, CA 1982 - 1984

Engineering Supervisor, Diablo Canyon Nuclear Power Units #1 & 2

BECHTEL POWER CORPORATION, San Francisco, CA 1981 - 1982

Field Engineer, Susquehanna Nuclear Power Station Units #1&2 – Berwick, PA

EDUCATION

University of Louisville, Louisville, KY - Master of Science Degree – Civil Engineering

Augusta College, Augusta, GA - MBA Studies – All Marketing, Accounting, and Economics requirements fulfilled

University of Pittsburgh, Johnstown, PA - Bachelor of Science Degree – Civil Engineering Technology

PROFESSIONAL CERTIFICATIONS

Professional Engineer, Commonwealth of Pennsylvania - PE-037377E

Professional Engineer, Commonwealth of Kentucky - PE- 19684

Professional Engineer, Commonwealth of Indiana - PE- 10708936

Professional Engineer, Commonwealth of Illinois - PE- 062060702

Professional Engineer, Commonwealth of Ohio - PE- 72988

Professional Engineer, Commonwealth of Oklahoma – PE – 26850

Professional Engineer, Commonwealth of Montana – PE – 41633E

Professional Engineer, Commonwealth of North Carolina – PE – 047619

Professional Engineer, Commonwealth of South Carolina – PE – 358877

Professional Engineer, Commonwealth of Florida - PE- 86232

Professional Engineer, Province of Alberta, Canada – P.Eng. - 192939

Certified Welding Inspector, American Welding Society – 93050991 (Expired)

PROFESSIONAL MEMBERSHIPS

National Society of Professional Engineers

American Society of Civil Engineers

American Society of Mechanical Engineers

American Welding Society

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