Innovation | Management consulting | Acquisitions

Orca has evolved into an incubator of new software products since its start as a consulting firm. The first of these products, an application that summarizes legal text that a second grader can understand, is currently in early stages of user testing. A second app, to organize and communicate estate planning information to loved ones, is in development.

Many of my long-time passions led to the latest evolution of Orca. While working in various industries, such as finance, steel and distribution, I saw many areas that could benefit from the use of technology. While working with, working in, and investing in early stage companies, I saw how technologies can be commercialized and companies and industries can be transformed. More recently, I have refreshed my skills in coding and even learnt artificial intelligence. I’m now deploying technology and management skills in specific areas of unsolved problems and significant opportunity.

I also welcome conversations with business owners who are interested in accelerating the growth of their business using technology or exploring a controlled transition, sale and retirement. I am particularly interested in businesses in the tech, services and distribution sectors, at or above $8 million in cash flows, in the Mid-Atlantic area.

Salem Steel NA, LLC

Leadership | Crisis management | Growth | Innovation | Strategy

The story of Salem Steel is that of a little engine that could. I led Salem Steel as CEO and board member. Salem, a distributor of precision steel tubes, overcame significant  competition by innovating, being nimble and quick, empowering its employees and delivering customer happiness and industry-leading metrics.

What we did at Salem Steel could fill a chapter of a book. In summary, I challenged each employee to focus on innovation. The best ideas were refined and fueled with action. Everyone was empowered to do more. We ran lots of experiments to test ideas. In this lab environment, we had experiments in sales, marketing, product pricing, inventory, operations, finance, how we work – everything could be improved. We made lots of small changes, and some big ones. We were rigorous in measuring results.

The most impactful changes were technological. We shifted entirely to the cloud and could work entirely remotely – two years before other companies were forced to do it because of Covid. We ended up creating our own dynamic product pricing system, akin to what leading ecommerce companies do, but a far cry from what existed in the sleepy steel business. We wrote our own inventory management software system, run on principles of linear optimization. We deployed our capital to maximize profitability and return on investment.

Our most durable investments were in human capital. For example, online courses were heavily subsidized from MOOCs like Coursera. Employees upgraded their skills and raised their hand to contribute more. We had frequent company lunches, where we got to know each other better but also to cross-pollinate ideas.

We achieved a multiple-fold increase in both profitability and the company’s valuation. We did this without increasing headcount. The little engine delivered industry-leading metrics on growth, profitability and return on investment. Every employee shared in the gains. Together, we fought against larger competitors and thrived.

Investment banking | Private equity | Finance | Leadership

At UBS, I worked with private equity firms and their portfolio companies, ranging in value from $200 million to several billion. For the first few years, I worked on a range of industries, including aerospace, shipping, packaging, industrials, chemicals, automotive and utilities. Later, I led tech and service sector leveraged buyouts. I reverted not only to my core tech focus but also covered an industry which quickly became the largest generator of leveraged finance fee revenue.

Working with highly levered companies gave me deep experience with credit analysis and balancing risk with return. During the Great Recession of 2007-2008, I also worked on fixing broken balance sheets, restructuring and special situations. One of the best learning experiences was debating whether or not to invest, and our strategy, and then watching how the actions unfolded over the years.

I also led the firm-wide credit training program of incoming bankers and managed our group’s pool of associates and analysts.

Investment banking | Equity | Mergers & acquisitions

Working at the word-leading technology investment banking practice had a profound impact on my work ethic and thought process. I had the opportunity to work on the IPOs of innovative firms, participate in multi-billion dollar and industry-changing mergers and acquisitions. I found that I had skills not only in analysis, but also in expressing complex things in simple ways. This benefitted our clients when explaining their value proposition to investors. I also learnt a lot from our clients. I was on a roadshow every three months, where we traveled with the management team for two weeks, meeting investors. In the downtime during plane, train and car rides, I had many memorable, illuminating conversations with leading CEOs and CFOs about business and about life.