Mr. Shapiro joined GlassRatner (now doing business as B. Riley Advisory Services) in 2016 to help found the firm’s Dallas office. He has more than 25 years of strategy, finance and turnaround experience gained from holding corporate management roles and from advising companies in need. Mr. Shapiro’s unique combination of corporate financial management and turnaround skills proves valuable to companies executing a turnaround, developing a plan of reorganization or obtaining capital. Additionally, he is one of the leaders of the firm’s Due Diligence practice with significant transactional experience helping companies’ diligence, execute and integrate corporate transactions. Mr. Shapiro is well regarded for his ability to realize the financial and operational improvements necessary to enhance stakeholder value.
Mr. Shapiro has functioned in executive leadership, interim management and advisory positions for publicly held, privately owned and equity sponsored entities - both domestic and international - with revenues ranging from $15 million to $15 billion. Industries served include healthcare, retail, distribution, commercial and financial services, metals and manufacturing, consumer products and telecommunications. Below are some representative roles and assignments:
- CRO for Lockwood International, a pipe, valve and fitting distributor to the midstream and downstream energy markets, in bankruptcy
- Financial Advisor for Gold’s Gym, a global operator of owned and franchised fitness clubs
- Financial Advisor to the Debtors for Alliance Health, an online pharmaceutical distributor and service provider operating in bankruptcy
- CRO for private-equity sponsored health-care professional services company
- CRO for publicly-held ISO payment processor
- CRO for a private-equity owned, distressed international aluminum product manufacturer
- CRO for Pine Creek Medical Center, a Dallas-based surgical hospital
- CEO for $200 AUM, highly-levered, private equity-sponsored investor in tax lien assets
- CFO for $5 billion, 2,000 location general merchandise retailer
- CFO for $15 billion distribution company operating in bankruptcy
- CFO for $300 million highly-levered, private equity-sponsored consumer electronics retailer
- CFO for $2 billion international parking operator
- CAO and estate representative for PCAA, an off-airport parking operator under bankruptcy protection
- Court-appointed Receiver to Fenton Motors, a distressed group of auto dealerships
- Financial Advisor to the Unsecured Creditors and Unsecured Creditor Trustee in the Neighbors Health bankruptcy
- Financial Advisor and estate representative for WordWorld, a media company under bankruptcy protection
- Financial Advisor for distressed provider of wireless telecom services
Mr. Shapiro has restructured and successfully managed companies through a number of transitional, troubled and distressed situations. His methodology melds hands-on strategic planning and implementation with collaborative stakeholder interaction and he is highly skilled at managing, through the cultural changes that affect companies in transition. A sampling of responsibilities at recent engagements includes:
- Developing and executing plans of reorganization for corporate restructurings
- Leading multiple lender-sponsored section 363 auctions
- Serving in fiduciary roles as court-appointed trustee, receiver and estate representative in a number of special situations and bankruptcy wind-downs
- Leading due diligence and integration efforts for multi-billion, multi-state operations in various industries
- Refinancing or recapitalizing balance sheets for public and private equity owned businesses
- Developing and implementing critical cash and working capital forecasting and management efforts necessary for turnaround efforts
- Driving revenue enhancement and cost containment initiatives by leading strategies in sales force management, pricing, process improvement and vendor outsourcing.
- Assessing and strengthening operational areas such as asset acquisition, portfolio allocation, vendor procurement, customer billing, point of sale and risk management
- Supplying financial leadership in the areas of strategic planning, financial planning & analysis, and corporate accounting
Mr. Shapiro has advised on corporate acquisitions and sales of entities with values ranging from $10 million to $1 billion in conjunction with stock offerings, private placements and §363 auctions. He has negotiated cash-flow-based and asset-based lines of credit, managed complex debt re-capitalizations, and secured debtor in possession facilities in addition to real estate and equipment financing.
Mr. Shapiro received his B.S. in Accounting from The Ohio State University and began his career with Ernst & Young in New York. He is a Certified Public Accountant (inactive).