Todd Matherne Advisors LLC



Independent Advisor to Lenders and Debtors

Independent Board Member

Turnarounds and Restructuring

Interim C-Level Management

Business Improvement



(713) 857-9136

toddmatherne@toddmatherne.com

Selected Engagements & Cases



Completed PE engagements and/or Board member positions:

Atlantic Industrial, Columbia, MD - interim CFO & independent advisor to Board of Atlantic

Foundation Partners Group, Orlando, FL - independent board member and audit chair

Cornerstone Records, Baltimore, MD - independent board member and audit chair

Desert NDT, Houston, TX - interim CFO, independent board member and audit chair

Brace Industrial Group, Houston, TX - interim CFO, independent board member and audit chair

Hoffman Southwest, Mission Viejo, CA - independent board member and audit chair

DBI Services, Hazleton, PA - interim CEO, independent board member and audit chair, Board Chairman

Service Refrigeration Group, Houston, TX - independent advisor to Board



Private equity client - interim CFO / change agent for a growth stressed multi-location, industrial services contractor with revenues exceeding $100 million.



Advised the Board and worked with management team to overcome EBITDA shortfalls and liquidity stresses. Developed and implemented operational and financial processes and controls, improved financial reporting cycle and designed and implemented a management incentive compensation plan that improved the business to a degree that the sponsor realized a substantial exit premium within 12 months



Public company - Financial advisor and interim CFO for a national commercial and residential electrical contractor with revenues exceeding $1 billion.



Worked with Board and management team to address severe liquidity crisis, imminent financial covenant defaults and material weaknesses in internal controls that resulted in 10-Qs that were not filed for two quarters. Resolved liquidity crisis within 65 days and raised $50 million in convertible debt that provided necessary liquidity and resolved the default and going concern risk. Negotiated consensual collateral agreement between senior secured lenders (18 institutions) and surety providers. Assisted in selection of permanent CFO.



CEO, President and disbursing agent / liquidating trustee for Encompass Services Corporation, a national commercial and residential HVAC, electrical and industrial contractor with revenues exceeding $4 billion prior to filing Chapter 11.



Recruited a multi-disciplined 15 person Wind Up team to properly finalize the financial, operational, tax and legal affairs of the Debtors (120 legal entities), including more than $3 billion in financial claims. The Wind Up process produced actual cash recoveries to all creditors of approximately double expectations.



Financial advisor to OCTG company with revenues exceeding $100 million.



Assisted owners and management with understanding weekly liquidity requirements considering inbound casing and tubular inventory and other commitments. Developed days on hand product line reporting tool to provide management with necessary data to properly assess inventory need based on sales mix. Advised during forbearance process with senior secured and mezzanine lenders. Alleged CFO fraud during case increased complexity.



Financial advisor to oilfield services company with revenues exceeding $100 million



Advised Board and management related to restructuring options considering the decline in rig count since the peak in 2008. Developed 13 week cash forecast and weekly reporting process and assisted management with development of a multi-year business plan including more than 30 reporting locations. A consensual pre-arranged Ch 11 filing resulted with senior lenders and management owning the company upon emergence from Ch 11. Company operated in Ch 11 with no significant loss of customers and with significant cash favorability to budget.



Financial advisor to senior secured lenders ($180 million) to an E&P company with operations in the Barnett Shale.



Successfully advised lenders respecting forbearance process, and appropriate monitoring of borrower cash flows for compliance with cash budget during asset sale process. Allegations of borrower fraud added a level of complexity. Assets were conveyed to lenders, after unsuccessful sale process by equity holders. Assisted lenders in locating contract operator for the assets.



Trusted, Credible Leadership



Matherne is a trusted professional, with more than 35 years experience, (including start-ups and Fortune 500 companies), providing C-Level leadership to businesses experiencing varying degrees of stress due to rapid growth or excess leverage.


■Executive leadership and advisory services to private equity portfolio holdings, and multi-billion dollar public companies with complex capital structures.


■Works with client teams and their professionals while developing and implementing solutions that measurably improve the enterprise.


■Matherne, known for his fact-based candor and timely situation analysis, is effective from the Board level to field locations and with customers and vendors.


■High energy, hands-on team-builder, with excellent communications skills. Maximizes value in highly stressed situations.


Matherne has successfully served in operating management roles, senior financial officer positions and advisory roles with large public and private companies including:

• Alvarez & Marsal

• FTI Consulting (NYSE: FCN)

• Integrated Electrical Services (NASDAQ: IESC)

• Encompass Services Corporation (formerly NYSE: ESR)

• Service Corporation International (NYSE: SCI)

• Baker Hughes Incorporated (NYSE: BHI)

• Wedge Group Incorporated


Provided debtor and creditor advisory and interim management services to other businesses with strategic financial and operating challenges. Managed and arranged debt and equity issuances and refinancing agreements in excess of $4 billion, oversaw the management investment portfolios ranging from $200 million to approximately $3 billion, including 401(k) plan fiduciary duties, and participated in acquisitions and divestitures of businesses having combined revenues of more than $1 billion.

Matherne started his career as a CPA with EY (Arthur Young at the time) and is a graduate of Louisiana State University, Baton Rouge, Louisiana. Affiliations include the AICPA, Louisiana Society of CPAs.​



toddmatherne@toddmatherne.com
(713) 857-9136