Why Equity Corps
Press & Media
of the most talented and grounded executives ...”
Vice President, JTECH
Chart to Read Case
Steve is founder
of Equity Corps, and a cross-industry start-up, build-out, and
Steve has driven rapid
increases in revenue, margins & EBITDA in challenging environments,
and is experienced in private equity, founder, and family controlled
Prior to founding Equity
Corps, serving as an independent interim executive, Steve led
business expansions, turn-arounds, and critical projects on behalf
of founders and CEOs of challenged small-cap companies.
engagements include Campus Concepts (EVP/GM; 15 Months), Triad
Communications (COO; 18 Months), and a Metro DC Wholesaler (COO &
CFO; 9 Months).
Campus Concepts (EVP/GM) –
Helped alternative media company reorganize its business, increasing
revenue 57%, doubling margins to 40%, and converting a $500,000
EBITDA loss to a $2 Million profit.
Triad Communication (COO)
– Helped niche marketing services company’s remote owner bridge a
leadership transition, and simultaneously increased cash flow and
Metro DC Wholesaler(COO/CFO)
-- Installed business discipline, cash controls, and reporting,
driving a $2+ Million increase in annual operating cash flow in less
than 6 months. Resolved crucial intellectual property dispute,
saving an estimated $400,000 annually.
Previously, Steve was
recruited by Bain Capital to help turn-around J-Tech Communications
as SVP, Sales and Marketing Worldwide . Within 12 months, Steve
helped J-Tech increase revenues 19% to $30 Million+, increase EBITDA
113% to $3 Million, and divest the business. Prior to J-Tech, Steve
helped turn-around Broadcast Electronics, a $40 Million manufacturer
of a full line of radio broadcast equipment and Hoak Capital
portfolio company. As VP Sales & Marketing N.A., Steve helped BE
revise its corporate strategy and rationalize its distribution to
capitalize on the consolidation in the radio broadcast industry.
These efforts resulted in a 62% ($5.5 Million) increase in North American sales in
6 months and a 151% ($2 Million+) increase in EBITDA in 12 months.
Prior to Broadcast Electronics, Steve served 10+
years in the commercial printing industry in Washington, DC.
Resolved Complex Intellectual
Despite highly strained relations between the parties, Steve
successfully negotiated a complex,
multi-party deal with disenfranchised partners in Metro DC
Wholesale Co.'s strategically central Internet & Catalog
marketing programs. Steve obtained previously disputed rights
to all intellectual property developed by Canadian partners, and
negotiated the reduction of the partners’ participation in
future revenues from over 80% to 0%; contributing an estimated
$400,000 to annual profits.
Reorganized Alternative Media Business. Spearheaded
effort to focus Campus Concepts' scarce resources on the most
profitable products. Efforts resulted in the shuttering of the
company’s founding publication, an immediate annual cost
reduction of $1 Million, and a $2 Million revenue increase in
the company’s highly profitable sponsorship line.
Restructured JTECH Communications from Business Unit to
Functional Organization. Eliminated a layer of
management. Rebuilt corporate and field sales teams, and call
center. Institutionalized management fundamentals – expense
controls, incentive compensation, performance planning and
assessment, training, reporting, and forecasting. Reversed 6
month U.S. revenue decline in 60 days. Efforts resulted in $3.4
Million (19%) sales increase and a cost of sales reduction to
25%, from 29% in first year.
Rationalized Broadcasts Electronic's Distribution.
Established appropriate, discrete channels for each product
line. Largely eliminated previously rampant channel conflict.
Rebuilt damaged distributor network and direct sales team.
Recruited focused channel managers. Clearly defined channel
performance and implemented strong performance incentives.
Created company’s first business forecast and revenue reporting
system. Instituted sales training. Initiated Key Account
Management Program. Personally developed senior relationships
with national accounts. Closed $1.5 Million deal with Entercom
Communications. Sales up 62% ($5.5 Million) in six months; 21%
first year. EBITDA up 151% ($2 Million+) increase in EBITDA in 12 months.
Rationalized Broadcasts Electronic's Product Line. Took
low-margin products to end of life. Reallocated marketing
resources from general advertising to readable, targeted
campaigns. Initiated telemarketing and direct mail programs.
Negotiated $16 Million strategic partnership with ABC, resulting
in co-branding of BE and ABC products. Reduced advertising and
marketing expenses 24%, while increasing revenue. EBITDA
up 151% ($2 Million+) increase in EBITDA in 12 months.
Sustained Annual Company
Revenue Growth of 24% (Industry = 3%); Raised Net Income From 1%
To 7% -- Near Top of Industry
Steve holds an M.B.A. from the University of Chicago
and an A.B. in Economics from Bard College.
Steve is a DC native and proud father of two sons, Peter and Chris.