Vice President, Investment
The Vice President (“VP”) is a member of the investment team and is primarily responsible for leading the evaluation, structuring, execution and exiting of various investment opportunities and related transactions. The VP is also responsible for generating deal flow, monitoring, and driving initiatives within the portfolio companies and participating in internal processes such as training and implementation of process improvements. The VP reports to the Director (“D”) / Managing Director (“MD”).
Develops and maintains relationships with various sources of investment opportunities, including investment banks, brokers, restructuring professionals, intermediaries, industry contacts, restructuring and accounting firms.
Maintains regular follow-up regarding deal flow; capture and share information within the firm; and take notes and update Deal Cloud with relevant information as transactions progress.
Screens all incoming deal flow for MGC investment criteria.
Reviews teasers and manages the process of executing confidentiality agreements.
Attends weekly deal flow meetings and provides updates on relevant deals.
Passes possible deals onto and regularly communicate with Business Development team.
Attends industry events, and lead meetings with management teams and intermediaries, as applicable.
Coordinates the deal team to review available deal information, including CIMs and/or existing credit documentation (for debt deals).
Submits Indications of Interest/present Stage 1 decks and attend Management Presentations.
Engages, establishes scope, and coordinate third-party resources, including legal, accounting, tax, environmental, appraisals, industry reviews and customer reviews.
Full responsibility to manage all Investment Committee work products, including Opportunity Overviews, LOI Memos, Data Packs, Transaction Models (including confirmation of assumptions), Investment Memos and definitive documents (e.g., APAs/SPAs).
Makes recommendations to D/MD on the following: deal structure, purchase price, targeted returns, underlying business assumptions and critical definitive documentation issues, with overall responsibility for negotiating such documents.
Leads Investment Committee meetings for relevant deals and has the option to observe Investment Committee for all deals.
Leads certain portfolio company divestitures/add-ons.
Establishes and maintains relationships with various financing sources, including commercial banks, non-bank lenders, sale-leaseback providers and financial advisors.
Leads the execution of or manage deal team to complete the following: obtain financing reads during diligence; negotiate transactions and credit documents (seeking input from D/MD on critical documentation issues); structure transactions; arrange all financing; and direct/manage portfolio company’s banking relationship and communication.
Leads lender amendment and creditor/steering committee restructuring discussions.
Works with MiddleGround’s CFO when structuring transactions and portfolio company CFOs when negotiating credit agreements to ensure compliance with MGC policies.
Portfolio Company (“PC”) Management
Coordinates all portfolio company management discussions with the Operating Team.
Meets with CEO and CFO to review the Value Creation Plan (“VCP”) with the Operating Team.
Co-lead post-closing employee meetings with the Operating Team MD, as well as attend onsite monitoring meetings for specific events (e.g., Board follow-up meetings).
Supports management to prepare budgets, forecasts, and Board decks.
Establishes urgency within the company to achieve the VCP.
Actively participates in weekly update calls, reviews presented materials and conducts discrete analysis to guide the management team with the Operating Team.
Coordinates 18-month review process for portfolio companies, as assigned: uses MGC’s template and standards; coordinates with Operating Team and management to complete market assessment; confirms financial performance based on historical performance and original Investment Memo Model; confirms VCP implementation impact; completes management assessment; confirms corporate governance compliance; develops strategic alternatives and plan for exit; coordinates investment committee meeting to complete the review.
Hiring and Executive Management
Develops specification for CEO/CFO positions with VP of Operating Team, as assigned.
Participates in all aspects of the MGC Hiring Process for CEOs/CFOs.
Reviews DDI assessments and debriefs for CEO/CFO candidates.
Participates in candidate presentation to BOD.
Provides input to Board members for key hires.
Provides input to Operating Team for annual bonus targets and business objectives.
Communicates sale bonus /option program with Operating Team to management participants, as assigned.
Participates in interviews for interim CEO/CFO, as requested.
Coordinates with Operating Team.
Passes potential portfolio company candidates to MD of Operating Team.
Budget and Hoshin
Supports development of the PC annual budget with management and Operating Team members, as assigned: reviews company’s performance vs. budget/hoshin; supports PC management to submit summary of objectives, forecast and budget at 3rd quarter BOD meeting; supports PC management to review and submit first draft of bottoms-up budget to BOD in November, per MGC timelines; and supports PC management to incorporate feedback from BOD to budget and hoshin and submit final budget in December, per MGC timeline.
Completes confirmatory analysis of budget based on underwriting model, VCP, historical performance, and budget assumptions.
Reviews monthly hoshin updates; participates in hoshin meetings, as applicable; supports PC management to meet hoshin & budget targets and provides feedback on budget and hoshin to management.
Develops 3 – 5 Year Strategic Plan with senior management team.
Portfolio Company Board Meeting
Coordinates agenda for Board meetings with PC management team and Operating Team VP.
Supports preparation of Board meeting materials with PC management and Operating Team.
Coordinates legal documentation with MGC CFO, Operating Team VP and Chairman of the Board.
Interviews and identifies independent Board members with Operating Team and make recommendations to D/MD for independent Board hires.
Participates in Board meetings and participate in interim BOD meetings with Operating Team.
Confirms BOD follow-up items with management.
Serves as member of the Board as requested and of the Audit Committee as assigned.