Meet Our Team Bayard B. Hollingsworth
Meet Our Team

Bayard B. Hollingsworth

Managing Director
Years with Phoenix: 2
Years of Turnaround Experience: 21

Bayard Hollingsworth is a Managing Director with Phoenix and has more than 20 years of experience managing and advising clients in complex situations. As a financial leader, he deploys a hands-on approach, creatively delivering successful results to companies across a broad array of sizes and sectors. His professional background has been focused on advising closely held, private, and family-owned entities ranging from $5 million to $2 billion in revenue. Bayard's expertise and knowledge spans a wide range of industries including manufacturing, distribution, agribusiness, transportation, food and beverage, business services and consumer products.

Bayard works closely with clients to successfully identify challenges in their operations and capital and organizational structure. He has extensive experience in the areas of turnaround and restructuring, crisis and liquidity management, operational and profit improvement, strategic and bankruptcy advisory as well as sourcing and executing M&A opportunities. He has led many refinancing processes and served in numerous capital raise and investment banking roles. In addition, Bayard has served in a myriad of interim management positions assuming the roles of Chief Financial Officer, Chief Restructuring Officer, and Treasurer.

PHOENIX MANAGEMENT SERVICES ® EXPERIENCE

  • Turnaround Management
  • Crisis Management
  • Interim Management
  • Financial Forecasting
  • Cash Management
  • Strategic Advisory
  • Bankruptcy Advisory
  • Liquidation & Business Wind Down
  • Litigation Support
  • Profit Improvement

SELECTED ADVISORY ASSIGNMENTS

  • Served as Chief Financial Officer of the nation’s largest executive services firm. As CFO Bayard helped manage the firm through a period of severely strained lender relationships, tight liquidity, a sub-optimized financial team, and a troubled ERP implementation – all in the midst of transitioning the leadership of the firm from its entrepreneurial founders to a professional management team. He re-engineered the capital structure and implemented a detailed cash flow and financial projection process that successfully gained control of the company’s working capital. In addition, he downsized and re-staffed the accounting department and established a new financial analysis function that provided valuable insight into methodologies for increasing profitability. He proposed to the CEO and Operating Committee a cost reduction program that was implemented. The timely turnaround enabled the successful sale of the company to a publicly traded strategic investor.
  • Served as Chief Financial Officer to a large soft surface flooring company leading the company through a restructuring during the recession of 2000-2002. A combination of volatile petroleum prices and interest rates as well as declining consumer demand in the highly competitive carpet and rug industry presented the company with existential challenges. To address these issues, the company sold four major assets: a rug manufacturing division, two chemical manufacturing facilities, and a distribution division. This complex situation included high leverage, constrained liquidity, numerous leveraged affiliates (each with a separate lending group), strained vendor relationships, and significant employee and management turnover. The ultimate result of the turnaround was a return to substantial profitability and cash flow without shareholder dilution.
  • Served as Chief Financial Officer of a national distributor of specialty hard surface flooring. This situation was characterized by high growth and a complete build out of previously non-existent infrastructure. When Bayard joined the company, revenue approximated $5 million per year and within 24 months revenue exceeded $6 million per month. He played a hands-on operational role in leading the company through this high growth phase and closed a major acquisition that doubled the size of the business. The acquisition was financed via an ABL credit facility - the first ever established at the company.
  • Served as financial advisor and subsequently as CRO for a full service trucking company. The situation was characterized by high leverage, significant historical losses, challenged relationships with constituents, a restatement of financials, and the restructuring and/or disposition of various underperforming divisions and single purpose real estate assets. Because the company lacked credible ownership and executive and financial leadership, Bayard's service as CRO facilitated the successful filing of a petition for restructuring under Chapter 11 of the Bankruptcy Code without the necessity of a Trustee. As CRO prior to and during bankruptcy Bayard provided oversight of all daily operations and was responsible for preparation and submission of all required filings to the bankruptcy court (including day one filings and MOR's), managed and controlled all cash collections and disbursements, facilitated the continuation of critical contracts such as access to fuel and insurance, and led or participated in numerous negotiations required for the company's continued operation. These efforts ultimately provided a foundation for the company's successful emergence.

TRANSACTION ADVISORY EXPERIENCE

  • Sell-side Business Preparation
  • Due Diligence Reviews
  • Business Plan Validation

INDUSTRY EXPERIENCE

  • Business Services
  • Chemicals
  • Consumer Products
  • Direct Mail
  • Food & Beverage
  • Medical Products
  • Plastics
  • Printing
  • Transportation

CAPITAL ADVISORY EXPERIENCE

  • Recapitalization
  • Refinancing
  • Expansion / Growth Financing
  • Divestitures
  • Balance Sheet Restructurings

PRIOR EXPERIENCE

Prior to joining Phoenix Management, Bayard led the Southeast Region for Triton Capital Partners, Ltd, a Chicago-based advisory and investment banking firm. Before Triton Capital Partners, Ltd, Bayard founded a turnaround and crisis management consulting practice at a super-regional public accounting firm in Atlanta. He developed a group of experts drawn from internal personnel into an effective management and advisory team that assisted numerous clients facing significant challenges.

EDUCATION / AFFILIATIONS

Bayard earned his B.A. from University of North Carolina at Chapel Hill in 1987 and his Masters of Business Administration from Erasmus University in Rotterdam, The Netherlands. He served as a board member of the Atlanta Chapter of the Turnaround Management Association for seven years.

Rodney-Gayle

Contact Information

Office Location: Atlanta
 

Office: (404) 814-5285

Mobile: (770) 608-7314


Email:
bhollingsworth@phoenixmanagement.com

vCard: Bayard B. Hollingsworth.vcf