In conjunction with an afternoon program of the Chicago Chapter of the Turnaround Management Association, an industry leading panel representing views of experienced Lenders, Private Equity Investors and Consultants will share their perspectives on the up-to-the-minute conditions of the credit markets for corporate turnarounds.
Please note: The Alumni Finance Roundtable, working in concert with the Turnaround Management Association’s University Relations Committee, is hosting this joint event. The first part at 4:30 PM – 6:00 PM is a Young Professional / New MBA session providing an overview of the turnaround industry and a briefing on the mechanics of a 13 week cash flow forecast. Should you wish for more information or to attend this event as well, kindly register via the Turnaround Management Association at http://www.turnaround.org/Default.aspx?ViewingChapterId=5&ViewMode=Chapter. Due to added costs of this event, there is a suggested $20 donation to the TMA.
6:00 PM-6:30 PM: Cash Bar and Networking with Participants
6:30 PM-7:30 PM: Panel Discussion
7:30 PM-8:00 PM: Audience Q&A
8:00 PM-9:30 PM: Cash Bar at Midway Club (5th Floor): Networking with Speakers
Mitchell B. Rasky (Panelist)
Managing Director, Asset Based Lending, The Private Bank and Trust Company
Mitch Rasky is a Managing Director in the Asset Based Lending Group of the Private Bank, a $13 billion Chicago based financial institution focusing on commercial banking. Mitch Rasky has over 20 years of experience in asset-based and commercial lending encompassing a wide range of financing transactions, with particular emphasis in leveraged buyouts, turnarounds, and deteriorating situations. In addition to generating new lending relationships, he is responsible for managing a portfolio consisting of troubled loans and leveraged credits. Previous to the Private Bank, he was a Division Head in the asset based group of LaSalle Business Credit/Bank of America Business Capital, the Regional Marketing Manager for CIT Credit Finance, a Division Manager with American National Bank and an auditor with Deloitte & Touche.
Mitch Rasky is a graduate, cum laude, from both the University of Illinois/Urbana in accounting and Northwestern University’s Kellogg Graduate School of Management in finance. He is a member of the American Institute of Certified Public Accountants and a Board Member with the Turnaround Management Association.
He has published articles in the Secured Lender and the Journal of Corporate Renewal. He won the 2008 TMA National Turnaround of the Year award for financing Hirschfeld Steel and the 2009 TMA National Turnaround of the Year Award an unprecedented second year in a row for financing Gerber Plumbing. In addition, he won the Midwest Chapter TMA award recognition for financing Archibald Candy/Fannie May Candy in 2004, Roman Inc in 2008, and Amcon Distributing in 2009.
Duncan Bourne, `86 (Panelist)
Managing Director, Wynnchurch Capital
Duncan S. Bourne is a Managing Director of Wynnchurch Capital. Located in the Chicago suburb of Rosemont, IL, and founded in 1999, Wynnchurch Capital is a leading middle-market private equity investment firm that provides capital and management tools to improve the operations of acquired companies. Wynnchurch Capital manages a number of private-equity funds with capital under management in excess of $500 million, specializing in management buyouts, recapitalizations, corporate carve-outs, restructurings and growth capital investments.
Bourne works extensively with Wynnchurch portfolio companies and their senior management team, having prior interim management experience in manufacturing, transportation, hospitality and consumer products industries. He has more than 20 years of experience in turnarounds, financial restructurings and operational performance improvement. Prior to Wynnchurch, Bourne was a Partner with BDO Seidman LLP, where he led BDO's Midwest turnaround and restructuring practice. Earlier, he was a Director with AlixPartners, an internationally recognized turnaround, performance improvement and financial advisory firm, and a Senior Manager in Ernst & Young's Financial Advisory Services consulting group. Bourne began his career with BP Amoco as a chemical engineer.
Bourne is a Certified Turnaround Professional and a Certified Insolvency and Restructuring Advisor. He holds a B.S. in Chemical Engineering from Northwestern University and an M.B.A. from the University of Chicago Booth School of Business.
Ben Smith (Panelist)
Director, Huron Consulting Group
Ben Smith is a Director in Huron Consulting Group’s Restructuring and Turnaround practice. Headquartered in Chicago, Huron Consulting Group has managed several turnaround and restructuring engagements since its founding, with particular emphasis on the airline and automotive industries.
Mr. Smith has served as financial advisor in a number of high-profile engagements, representing both creditor and debtor constituencies. Noteworthy engagement experience includes the successful restructuring of over $200MM in first and second lien loans for a Tier II automotive supplier and liquidity management for a $200MM snack foods company.
Mr. Smith holds both the Certified Turnaround Professional and Certified Insolvency and Restructuring Advisor credentials and earned an MBA from the University of Florida.
Colin P. Cross (Moderator)
Managing Director, Crystal Capital
Colin Cross is Managing Director and co-founder of Crystal Capital. Headquartered in Boston, Crystal is a direct lender focused on senior and junior secured loans ranging in size from $10 million to $150 million.
Colin is responsible for originating and structuring new loans and is a member of the Investment Committee. He previously was a Managing Director with Back Bay Capital, providing senior and second lien loans for various purposes including restructurings, DIP loans and exit financings. Colin was a co-founder of Heller Investments, Inc., a turnaround equity investing subsidiary of Heller Financial, Inc., acquiring control positions in underperforming companies via 363 sales, distressed debt purchases and exit financings.
Colin was the 2007 Chairman and 2006 President of the Turnaround Management Association and the 2003 President of the Chicago Chapter of TMA. He holds a BA degree in economics from Bowdoin College and an MBA from SMU.
Vern Broders, `94
Chair, Finance Roundtable