Alpharetta, GA ******
770-***-****(cell)
E-mail: **********@*******.***
J. Michael Highland
Summary: Successful track record of creating shareholder value in a variety of industries including business services, technology, financial services, manufacturing/distribution and health care industries. Served as an experienced leader in both turnaround and growth situations, and as an effective strategist with experience in developing a management team that embraces change and innovative thinking. Responsibilities have included leadership of a global organization of 400+ individuals, developing growth initiatives including identification of strategic acquisitions, liaison with Board of Directors and private equity representatives and executing the sale of business to a strategic buyer. Led merger/acquisition activities (including integration activities) in over 11 transactions with cumulative enterprise value in excess of $250 million.
Experience:
1/03-Present JMH Holdings, LLC
President and Chief Executive Officer
Provide consulting services to middle market organizations in the financial services, technology and business services industries. Responsibilities have included interim Chief Executive Officer role, strategic planning services, restructuring consulting and merger/acquisition consulting and execution. Results of activities have included the following:
Business Services
Led development and execution of restructuring plan that eliminated unprofitable operations and reduced operating costs by 25%.
Presented restructuring plan to senior lender syndicate resulting in lending group delaying exercising its rights against the business in an effort to allow the Company to execute on its strategic plans.
Assisted in the negotiation and execution of sale of a significant division of the business resulting in sales proceeds of up to $46,000,000 to the shareholders.
Results of restructuring plan eliminated clients operating loss of annual $3.5 million loss and returned the enterprise to profitability.
Technology
Provided strategic overview for the Board of Directors for a security technology company to determine feasibility for raising additional capital. Assessed market sizing and position, growth rates, pricing metrics, economic model and go to market strategy. Presented results to the Board of Directors and to lead investors.
Financial Services
Restructured the business to sell and or liquidate non-strategic assets and repositioned the business in the marketplace. These changes resulted in the operating performance improving from a loss of $2.2 million to a profit of $1.2 million from continuing operations.
Grew the loan portfolio by 20% in the year after the restructuring was completed.
Negotiated a $105 million credit facility with a leading money center bank.
Reduced loss rates on the portfolio by 50% and reduced portfolio delinquency to an industry-leading 1.25%.
Introduced several new technologies to improve productivity, increase customer service and measure individual and business performance.
1/01-4/02 Indus International, Inc.
Executive Vice President
Indus was a leading provider of Enterprise Asset Management (EAM) software and services with revenues of approximately $175 million and customers in 45 countries. Global responsibility for Finance, Accounting, Human Resources, Taxes, Quality, Investor Relations, Legal and Board of Director/Audit Committee meetings.
Led cost rationalization initiative that assisted in the improvement of operating results from a loss of $60 million in 2000 to an approximate break-even in 2001(excluding restructuring charges).
Initiated profit improvement programs that led to the market value of IINT increasing 200% during my tenure compared to the overall NASDAQ market that decreased 30% during the same period.
Interfaced with new customer prospects to alleviate their concerns about the financial condition of Indus that resulted in incremental revenue in excess of $10 million to Indus.
Developed and led road show presentation with both buy-side and sell-side analysts.
Relocated entire administrative functions from San Francisco to Atlanta during the first six months of employment which resulted in administrative head count being reduced by 40% and overall administrative costs reduced by 50%. Created a “continuous improvement” culture within the relocated organization that emphasized improving internal and external customer satisfaction while reducing cost.
9/95-1/99 Gainor Medical Management, LLC
President/Chief Operating Officer
Gainor Medical was a global diabetes disease management provider and medical device manufacturer/distributor. Responsibilities included the day-to-day operations of this $150 million operation with 400+ employees. The business and assets of Gainor Medical were sold to Matria Healthcare effective January 20, 1999.
Led effort to increase the equity value of Gainor through revenue enhancement/cost reduction programs that resulted in the value of the business increasing from technical insolvency to being sold for $150 million in three years and revenues increasing from $16 million to $110 million during the same period.
Strategically modified direction of the organization from an OEM manufacturer/distributor of medical products to a leading disease management company serving major domestic and international healthcare providers and payers. This strategy shift allowed the organization to achieve organic growth rates of 25% and overall growth rates in excess of 50% FROM 1995-1999.
Negotiated and integrated five acquisitions (including two German acquisitions) over a two-year period. The total purchase price for the five acquisitions was approximately $30 million. Sold these acquisitions in less than two years for $75 million.
Negotiated investment by Equity Group Investments (controlled by Sam Zell) into Gainor Medical.
Improved productivity (as measured by revenue per employee) by 37%. Revenue per employee approximated $450,000.
Negotiated complex sale of the business to Matria Healthcare, Inc., a publicly traded company.
Increased cash flow margins from 1% to 18% in three-year period.
International experience includes managing UK distribution facility acquiring two German entities and assisting in the management of Japanese/Polish suppliers.
Began responsibility as Chief Financial Officer. Moved to Chief Operating Officer within six months. Promoted to President approximately one year later.
8/94-9/95 Automated Systems Design, Inc.
Chief Financial Officer
Automated Systems Design, Inc. (ASD) was an Inc. 500 fastest growing company involved in the installation of network cabling. The growth was accomplished without the appropriate financial and operating controls in place. These control weaknesses resulted in ASD becoming in default on its bank credit facility. I was hired to turn the company around financially and operationally.
Developed and implemented turnaround program, which included strategically outsourcing certain functions, reducing headcount by 50% and implementing the appropriate financial and operating controls.
Increased operating margins from negative to 12% within two months.
Negotiated extension with their asset based lender (Heller Financial) to delay enforcement of the default provisions under the terms of the company’s credit facility. As a result of the turnaround efforts, the bank ultimately renewed the credit facility on more favorable terms.
Implemented customer satisfaction program to measure performance on each installation project.
7/83-7/94 Arthur Andersen & Co.
Manager
Provided audit and business consulting services to manufacturing, distribution, and service clients of this major professional services firm. Clients included both large multinational entities and small owner-managed organizations. Assisted clients in the initial public offering process. Developed significant Securities and Exchange Commission (SEC) reporting experience including the filings of S-1 and S-4 registration statements as well as the periodic 10-Q and 10-K reporting requirements.
Education/Certificates
B.S. in Accounting, Indiana State University-1983
Certified Public Accountant (Currently inactive status requiring the completion of 120 hours of Continuing Professional Education to reinstate).
Activities
Sports
Travel
Reading