Customer Service Management
Resume:
Carmel, IN *****
J. Roe Hitchcock ****@*******************.***
Summary: A Harvard Business School educated dynamic Interim C-Level (CEO/CFO) Executive and Board Member with 27 years diverse experience in all facets of start-up, developmental stage, growth (organic and M&A) and mature businesses up to $500 million in revenue. Delivered growth and shareholder value organically and through aggressive strategic M&A programs across a variety of sectors and industries. Experience in turnarounds and restructurings, refinancing, debt and equity capital raising, M&A. Goal oriented, results-driven and a demonstrated track record of implementing change management throughout an organization including personnel, operations and financing. Significant capital markets expertise and experience with deep contacts into both the debt and equity capital markets.
Heartland Advisors, LLC, Carmel IN 2007-Present
Managing Director
Engagements:
Interlock Industries: Engaged by the Board of Directors of this family held portfolio of companies as an Executive Operational and Financial Advisor to assist the family and portfolio operational executive management team to develop one of their portfolio companies through a comprehensive operational reorganization in order to position their business for an aggressive M&A program of which I will lead on their behalf.
American EMS: Hired by the shareholders of this $25 million, 12 location, 375+ employee Midwest healthcare services provider to undertake and lead a complete turnaround and restructuring operationally, organizationally and financially of the Company. Served as the CEO of the Company. Key initiatives and accomplishments included:
Terminated executive management team reducing annualized costs by $350K
Structured and negotiated creative operating lease to finance 24 additional fleet vehicles upgrading the fleet, providing added vehicles for growth and reducing repairs by 15%
Consolidated 2 dispatch centers increasing on time performance 50% and improving customer service
Increased staffing levels 60% reducing weekly customer denials by 90%
Implemented field technology reducing open tickets from 500+ to less than 15
Terminated billing manager and consultant and recruited new billing team creating overhead savings of $500K annualized
Implemented integrated single database dispatch/ops/billing MIS system reducing IT support costs by $100K annually and ultimately reducing billing labor costs by $200K annually
Rural Metro Ambulance: Engaged by the CEO of a national healthcare services provider to serve as the President/General Manager of a large business unit of this national company to undertake a deep organizational, operational and financial turnaround. Undertook the complete restructuring of the organization including the realignment of the Company’s regional management team. Hired a new district manager and restructured the Company’s hospital ambulance operational support staff while managing the daily operations of this 600+ employee business unit. Successfully developed a 120 day operational and financial turnaround plan. Implemented the key 30-60 day turnaround initiatives to return the business unit to efficient operational status as well as reorganize the operations to return the Company to profitability in the next 120 days. Key initiatives included:
Restructured district area management structure reducing costs by 40%
Negotiated new area dispatch agreement for 911 service creating $1.5-3MM EBITDA
Closed down unprofitable areas and consolidated assets into profitable territories
Recruited new supervisors and developed new ambulance crew support team
Implemented a comprehensive medical supply inventory control and disbursement system
Implemented revenue building wheelchair van system to increase more profitable stretcher runs
Developed and implemented a comprehensive narcotic control system to reduce tampering
Initiated open ticket program reducing open tickets from 900+ to 75 in 90 days improving cash flow by approximately 92% from open ticket billings
Directly managed and supervised the highly successful staffing, vehicle deployment and management oversight of the complete coverage for the month of May for the Indianapolis 500 car race
Initiated a new financial reporting structure for the entire business unit allowing more accountability and measurability of area managers and staff
Analyzed and implemented a statewide transportation redeployment strategy to complement a new comprehensive marketing strategy in order to increase revenue, increase UHU, decrease direct labor per transport and improve the overall customer service
Direct oversight and management of the Company’s top customers increasing performance and reducing customer complaints significantly including the preservation of the Company’s top customer
Monroe Capital Mezzanine Fund: Currently in discussions to provide comprehensive investment due diligence services to prospective fund investment target companies including pre-investment services (industry analysis/diligence, target due diligence, comprehensive integration planning) as well as post-investment services (integration management, interim executive management, post-investment profit enhancement initiatives). Also, turnaround management, restructuring and refinancing services will be provided to investments that are not performing to expectation. Assignment will vary as to length.
Private Equity Firm: Engaged by a $20 billion dollar PE fund to provide industry expertise and analysis and lead the M&A efforts for a proposed $1 billion equity investment to undertake an industry rollup investment thesis. Served as the lead in all M&A activities as well as performed preliminary financial and operational analysis and early due diligence of proposed targets. Assignment lasted six months.
Stonegate Properties: Engaged by the Developer of a 225 acre high end residential mixed use real estate development project to restructure the development’s capital structure. Negotiated a proposed 30% reduction in the current debt level of both principal and accrued interest. Worked with new potential financing sources to replace the existing lender group with a long term permanent capital structure. Assignment lasted five months.
Anderson Christian Church: Engaged by the organization’s outside legal counsel to undertake a complete evaluation and refinancing of the entity’s operating and facility financing. Undertook a thorough analysis of the entity’s operating budget reducing annual operating expenses by 15%. Secured new funding for both the operating line as well as the facility mortgage.
Miles Farm Supply: Privately-Held $275 million regional wholesaler/retailer. Hired as the Company’s Interim Chief Financial Officer to undertake a complete reorganization of the Company as a result of failing confidence in the Company and Management from their capital providers.
120 day Initiatives:
Terminated CFO and Controller
Reduced Finance Group from 35 to 20
Improved outside financial reporting from 45 days after month end to 10 days
Cut $1.5 million of annualized payroll costs
Eliminated $2.5 million of annualized operating costs
Reorganized Executive Management Team by replacing top five executives under the ownership
Regained the bank’s confidence in the Company and Management
Negotiated an additional $20 million of credit from the Company’s bank (57% increase)
2 Year Initiatives:
Developed Comprehensive Strategic Growth Program for the Company and led a two year aggressive strategic acquisition program
Completed a thorough strategic landscape analysis identifying all prospective acquisition targets within the Company’s industry
Selected top ten prospective acquisition targets and performed strategic and financial summary of each for ranking
Initiated and led negotiation with four prospective acquisition targets totaling in excess of $1.5 billion of incremental revenue
Initiated Letters of Intent with three targets with cumulative combined revenues of over $1.4 billion
Interviewed, hired and provided management oversight of the external legal, accounting and operational due diligence providers
Negotiated, structured and received financing commitments for $150 million of senior debt and $20 million of mezzanine capital
Recruited and led the negotiation for $150 million of prospective equity acquisition capital
Refinanced over $140 million of existing debt capital in two separate refinancings for the Company
EBITDA increase $5.2 million in 2008 79% increase over 2007
Replaced Chief Operating Officer and served six months as the interim Chief Operating Officer in addition to the CFO role
Direct management oversight of the construction, financing and completion of a $10 million, state of the art riverport fertilizer terminal (rail and river access)
Recruited and hired top level COO and CIO during 2009 based on the comprehensive strategic acquisition and growth program
Paine & Partners: Engaged by a $2 billion dollar PE fund to undertake a comprehensive industry analysis and platform acquisition target identification and analysis. Six month project; provided overall industry landscape and analysis and identified 15+ potential acquisition targets and performed initial target contact, financial and strategic target analysis and due diligence oversight.
Thoma Bravo: Engaged by a $1 billion dollar PE fund to provide industry expertise and analysis. Served as the lead in preliminary financial and operational analysis as well as early due diligence of the proposed target. Assignment lasted three months.
Tour Players Club, LLC, Carmel, IN, Califon, NJ 2004-Present
CEO: Founded, created and managed a unique and proprietary consumer marketing aggregation, engagement and monetization program initially focusing on the 26.2 million United States golfers. Raised $4 million of development capital, recruited 15+ PGA Touring, Teaching and Club professionals to provide content and experiences, engaged professional production company to produce unique and compelling content and currently in negotiations with numerous Fortune 500 companies to serve as program launch partners. Expected consumer launch of the program Q3 2015.
JP Morgan Chase, Chicago, IL 2003
Restructuring Executive: Recruited by top 5 U.S. bank to undertake a complete restructuring and refinancing of a privately-Held $250 million wholesaler. Reorganized the senior management team. Performed complete internal analysis of Company’s balance sheet including numerous outside investments and subsidiaries to determine forced liquidation value of investments. Undertook the marketing and sale of numerous outside investment interests and created complete refinancing package for the parent company. Initiated a complete refinancing of the parent company’s senior credit facility of $45 million dollars and negotiated with 10+ capital providers. Re-gained existing credit facility confidence and arranged 3 year, $45 million credit facility. Sold and/or disposed of numerous external and/or subsidiary investments.
Stillwater Partners, Atlanta, GA 1998-2003
Private Equity Investor: Founded and managed a boutique private investment firm that identified and acquired four separate manufacturing companies creating a $30 million three state industrial trailer manufacturing company. Managed due diligence for all acquisitions, recruited and hired day to day operating management team, provided oversight and strategic development initiatives for the platform and grew the Company both organically and via strategic acquisitions and arranged for $15+ million of acquisition and growth financing. Successfully sold the Company to a larger private equity investor.
Education Galore, Indianapolis, IN 1994-1998
Chief Executive Officer: Privately-Held $15 million dollar wholesaler/retailer of educational supplies. Recruited as the Chief Executive Officer to undertake the turnaround and complete restructuring (financially and operationally) and redirected the strategic direction of the Company. Redirected the Company’s distribution strategy to take advantage of a shift in consumer buying trends which included the relocation of the Company’s distribution system into a new 30 thousand square foot warehouse, the development and implementation of a newly created MIS system which allowed for a reduction of inventory investment of 30% and a fill order rate increase of 75%. Developed the Company’s cutting edge retail strategy including the opening of 5 retail education superstores in 16 months. Ultimately sold the Company to a strategic competitor.
The Oxford Investment Group, Bloomfield Hills, MI 1990-1994
Private Equity Investment Executive: Performed industry and target analysis, due diligence and portfolio company oversight for private investment group focused on middle market companies with transaction values $25-$400 million. Completed approximately 28 acquisitions over a four year period including the direct oversight of 6-8 portfolio investments.
Arthur Andersen, Dallas, TX, Chicago, IL, Indianapolis, IN 1984-1988
Senior: Provided investment banking services for clients that required capital raising services including both debt and equity. Completed numerous financing assignments including a multibillion dollar strategic advisory assignment for a US acquisition by a European buyer.
Education
MBA Harvard Graduate School of Business Administration, Boston, MA 1988-1990
BS Indiana University, Finance & Accounting (3.98 GPA Graduated 2nd in Class) 1980-1984
Bloomington, IN
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