Steven A. Schneider
Interim CEO, CFO, COO, Turnaround
I am a versatile operating and financial executive with more than 30 years experience in settings from early-stage start-ups to middle market mature businesses and publicly traded companies. After serving ten years with a NYSE conglomerate, I discovered my entrepreneurial side when I acquired the automotive supply division from my employer, that was later sold to a private equity group. Several years heading corporate finance at a private merchant bank allowed me to gain experience with a varied group of industries, including investment banking, defense contracting, machine tool finance and sub-prime automotive lending, and information technology.
Fifteen years ago, I struck out on my own, first when a former merchant banking client brought me in as COO of a NASDAQ traded IT business solutions provider. Over the past 12 years I have successfully started two healthcare providers, the first as a minority partner and CFO, that was sold in 2009. The second company grew from a small acquisition, to a leading healthcare provider in the area of disease management for individuals with chronic respiratory diseases.
I have successfully restructured and recapitalized both private and public enterprises by developing relationships with financial institutions and private equity groups having completed complex financial transactions with Merrill Lynch Capital, GE Credit, JP Morgan Chase Bank and Northern Trust Bank. I believe that I am recognized by colleagues as a tactical problem solver and lead-by-example executive who is a straight shooter.
SELECT INTERIM EXPERIENCE
Company Stage Focus: Startup, Early Stage, Private Equity Backed, Turnaround/Distressed, Public, Private, Family Owned
Founder & CEO, $15M Health Management Provider
Lead investor in the acquisition of a $3.5M durable medical equipment provider. Changed business model to an outcome driven, population health services provider Recruited and trained new Management Team while raising $10.5M from private equity group. Remain a Board Member with private equity investors as the Management Team has successfully taken the Company to an industry leading position.
CFO & Co-founding Member, $81M Specialty Pharmacy
Co-founded start-up specialty pharmacy. The company began as the restructuring of a small healthcare provider. The Newco was created to implement a strategy whereby the initial tasks were to reformulate the corporate structure, rationalize the overhead, renegotiate supplier agreements and work with lenders to finance the early growth of the Company. Sourced and negotiated $15M debt facility with major institutional lenders. Company later sold with an affiliate for over $60M valuation.
COO, $22M, NASDAQ IT Business Solutions Provider
Spearheaded the budgeting, planning, and operational management of the business which included parent company and 3 wholly owned subsidiaries. Interfaced with Chief Financial Officer, independent auditors and outside securities counsel on filings of SEC forms 10-K Annual Reports, 10-Q Quarterly Reports, 8-K Current Reports and DEF 14A Proxy Statements. Closed three acquisitions that furthered business development in Internet infrastructure, e-commerce solutions and information technology consulting. Negotiated line of credit facilities and separate acquisition funding for the three acquisitions. Revised operating and cost structure by: (1) consolidating operations and finance departments, (2) selling $30M equipment lease portfolio, (3) selling marginal employee staffing company, and (4) closing consulting company with offices in Memphis, TN and Charlotte, NC.
Interim CFO, OTC:BB Electrical Utility Cable Manufacturer
On behalf of a merchant bank considering significant investment, I served as Interim CFO to a small-cap public company that developed, manufactured and marketed products incorporating composite technologies to the global electric utility industry. The company was established by means of a reverse merger into a publicly traded OTC shell. My responsibilities were to prepare the investment prospectus, lead the development of the business model and forward budget.
Corporate Finance, $80M Defense Contractor
On behalf of a merchant bank with a controlling interest in this closely held manufacturer, I worked with senior management on the recapitalization of its balance sheet. Prepared the confidential memorandum and sourced and negotiated a $30M credit facility for the Company with an international institutional lender. The resulting increase in capital helped to increase revenues in excess of $100M, leading to a later sale of the Company to a multi-national defense industry conglomerate
• Kept my promise to recruit, train and hand-off the top management role at Alana Healthcare, within the 3-5 year commitment.
• Successful transition of Alana Healthcare to a population health and disease management model, from a durable medical equipment and specialty pharmacy business model.
• Co-founded Factor Health Management, and as CFO guided the Company from start-up to revenue of $81 million. Sold in combination with an affiliated specialty pharmacy to private equity for $66 million valuation.
• Responsible for raising over $15 million of debt facilities for Factor Health, primarily with Merrill Lynch Capital and GE Capital.
• As COO of 5B Technologies, Inc. (NASDAQ:FIVE), closed closed three acquisitions that furthered Company growth in Internet infrastructure, e-commerce solutions and IT consulting. Successfully represented the Company during the 2000-2001 technology market declines, to the NASDAQ Stock Market Listing Committee that monitored compliance with listing standards.
• ROL Industries, Inc., Chicago & Detroit based $12M Manufacturer of Automotive Components
• Not-For-Profit Agency in North Suburban Chicago area
• Factor Health Management, South Florida based Specialty Pharmacy
• Alana Healthcare, LLC, Nashville, TN based Healthcare Provider
• Point72 Asset Management, Healthcare Research Group Advisory Committee
• Ohio State University, Columbus Ohio, College of Business Administration with a specialty in Finance
• Strategic Planning Institute, Loyola University, Chicago, Illinois
Years Executive Experience: (32)
# of Interim Roles: (4)
# of Board Roles: (5)
Company Size: ($101k-$200M)
• Building a Management Team
• Board Advisory
• Operations: Cost
• Joint Ventures
• Corporate Development
• Budget, Cost & Internal Controls
• Debt and Refinancing
• Turnaround: Distress
• Financial Analysis
• Corporate Finance
• Sales Forecasting
• Company Sale
• Acquisition Integration
• Automotive Supply (OEM)
• Information Technology
• Structured Finance
• Not-For-Profit 501(c)(3)