Meet Our Team Mitchell B. Arden
Meet Our Team

Mitchell B. Arden, CTP

Senior Managing Director
Years with Phoenix: 26
Years of Turnaround Experience: 28

Mitch Arden is a Senior Managing Director at Phoenix. He is recognized on a national level for his operational skills and abilities to assist troubled and transitional companies. He has led and participated in more than 175 client engagements in a multitude of industries, including manufacturing, wholesale and retail distribution, transportation, utilities, food service and a variety of service-related enterprises.

Mitch has an extensive background working with public and privately owned companies in the areas of turnaround management, crisis management, operational improvements and efficiency, business strategy, short- and long-term planning, distribution, inventory management and control, cash flow forecasting, financial oversight and financial management. He has successfully assisted a large number of clients with obtaining new or expanded credit facilities or alternative sources of capital. He has also assisted a variety of Phoenix clients with their merger and acquisition activities. In addition to his advisory expertise, Mitch has served in interim operational and financial management positions with a broad array of Phoenix clients, including roles as Chief Executive Officer, Chief Operating Officer, Chief Restructuring Officer, and Chief Financial Officer.

PHOENIX MANAGEMENT SERVICES ® EXPERIENCE

  • Turnaround Management
  • Crisis Management
  • Interim Management
  • Operational Assessments
  • Financial Forecasting
  • Cash Management
  • Strategic Advisory
  • Bankruptcy Advisory
  • Liquidation & Business Wind Down
  • Due Diligence Reviews
  • Litigation Support

SELECTED ADVISORY ASSIGNMENTS

  • Led the proceedings and emergence from bankruptcy and served as Chief Restructuring Officer of Orleans Homebuilders. Orleans is a $300 million company that markets, develops, and builds high quality single family homes, townhouses and condominiums. Due to Mitch’s strong leadership, Orleans emerged from bankruptcy in less than a year. Phoenix and Mitch were able to save more than 200 jobs and more than 500 families were able to complete their homes that otherwise would have been left unfinished if the company had ceased operations.
  • Led the turnaround and served as interim CFO of a multi-location (four domestic plants and one international plant) steel service center and Tier-1 automotive supplier. Mitch participated in successful negotiations involving the UAW, CAW, IBEW, and Teamsters. He also introduced extensive financial and cost controls throughout the organization.
  • Developed and implemented the recovery plans to stabilize and ultimately return a prominent manufacturer of industrial scales to profitability. This effort required the consolidation of certain operating units and the implementation of cost controls and efficiencies throughout the organization. As the oversight partner on this project, Mitch was also the point for communicating and maintaining the support of a fragmented bank group.
  • Served as Chief Restructuring Officer of a rapidly growing distributor of high-tech satellite and direct broadcast components. This business had grown rapidly, and the pace of growth had out-stripped the support that was necessary from the company’s trade vendors. Mitch brought leadership and focus to an increasingly stressful situation, developed and implemented the plan to regain trade support, and ultimately led the successful sale of the company to a strategic buyer.
  • Developed and led the turnaround of a large importer/manufacturer of hard goods that were sold predominantly through “big box” retailers across the United States. This company had expanded quite rapidly and ran into financial trouble after failing to realize the integration benefits that were expected from the acquisition of a competitor. Mitch led the development of a plan to aggressively integrate the recently competed acquisition and managed the effort to maintain critical bank group support.
  • Managed the turnaround of the world’s preeminent manufacturer of high-end fishing reels, fishing tackle, and related equipment. The company’s U.S. and international market share had been eroded by aggressive product development that was introduced by several competitors. Three inefficient manufacturing facilities and a parochial belief that 90% of component parts had to be manufactured within its own organization further impacted the company. Mitch led the plan to consolidate the company’s manufacturing operations, while also aggressively outsourcing component parts production to more efficient, third party manufacturers. Concurrently, the sales force was rejuvenated with new products, new literature, and an aggressive campaign to regain market share. The company was stabilized, returned to profitability and was subsequently sold in a cash transaction to industry/strategic partners.
  • Developed and implemented the plan to restructure a publicly held, $250 million, 41-store jewelry retailer. This company had invested heavily in an aggressive expansion beyond its 25-store core market. The company’s strong brand name recognition in its core markets did not carry over to the expansion markets, thereby resulting in substantial operating losses, limited capital to support traditionally strong merchandising and reduced support from several well-known jewelry and watch brands. Mitch led the effort to downsize the operation and gained Board of Director support to implement the plan to close 16 geographically dispersed stores. The stores were closed without the need for a Chapter 11 filing, thereby eliminating more than $8 million in annual operating losses, and new capital was attracted through a prominent Canadian jewelry store operator.
  • Served as Chief Operating Officer of the largest municipally owned utility in the United States. Mitch led the management and restructuring of all of the utility’s operating groups, including gas delivery, purchasing, plant operations and service operations. As part of this critical interim management effort, the Phoenix team identified and implemented operational and financial changes that resulted in a $75 million improvement in the utility’s operating cash flow.

INDUSTRY EXPERIENCE

  • Apparel
  • Automotive
  • Consumer Products
  • Direct Mail
  • Convenience Stores
  • Electrical Products
  • Firearms
  • Food & Beverage
  • General Building Construction
  • Information Technology
  • Jewelry
  • Local Transportation
  • Machinery
  • Measurement & Instrumentation
  • Metal Products
  • Oil, Petroleum & C-Stores
  • Paper Products
  • Printing
  • Private Equity Fund
  • Publishing
  • Restaurants
  • Security & Other Services
  • Technology
  • Telecommunications
  • Utility

CAPITAL ADVISORY EXPERIENCE

  • Recapitalization
  • Refinancing
  • Expansion / Growth Financing
  • Equity Raise
  • Management of §363 Sales Process
  • Out-of-court Bankruptcy Auctions
  • Divestitures
  • Select Buy-side Engagements
  • Balance Sheet Restructurings

SELECTED CAPITAL ADVISORY TRANSACTIONS

Mitch served as the Financial Advisor for the following deals:

  • Refinancing a $22 million credit facility for a Midwest-based manufacturer.
  • Refinancing a $13 million credit facility for a manufacturer/wholesaler that sold to large retailers throughout the United States.
  • Cash sale of a large manufacturer of high-end sporting and fishing equipment.
  • Managed the process that resulted in the §363 sale of assets for a large publisher of children’s books to a strategic buyer.
  • Led the process of selling the assets associated with an importer and distributor of satellite and direct broadcast components.

PRIOR EXPERIENCE

Prior to joining Phoenix Management, Mitch served as Senior Vice President and Chief Financial Officer of TransEuro Group, Inc., a multi-location importer and distributor of automotive replacement parts. Before joining TransEuro Group, he served as Assistant Corporate Controller of The Horn & Hardart Company, a $550 million AMEX company principally engaged in restaurant management, direct marketing operations and hotel/casino management. Mitch began his professional career in 1981 with the Big Eight public accounting firm of Touche Ross & Co. (now Deloitte & Touche).

EDUCATION / AFFILIATIONS

Mitch earned his B.A. from Glassboro State College (now Rowan University) in 1981. He is active in a large number of industry-related organizations, including the Turnaround Management Association (TMA), Association for Corporate Growth (ACG), Commercial Finance Association (CFA), American Bankruptcy Institute (ABI), and the Risk Management Association (RMA).

He has served on several Industry Boards:

  • Currently serves as a Member of the Board of Directors of the Philadelphia Chapter of the TMA
  • Member of the National Board of Directors of the TMA
  • Executive Vice President of the Philadelphia Chapter of the TMA
  • Member of the Governing Board of the Education Foundation of the Commercial Finance Association
  • Member of the Advisory Board of the Annual American Bankruptcy Institute – Mid-Atlantic Bankruptcy Workshop

Mitch is a Certified Turnaround Professional (CTP).

mitchell b. arden

Contact Information

Office Location: Philadelphia
 

Office: (610) 358-4700

Fax: (610) 358-9377

Mobile: (610) 659-8500


Email:
marden@phoenixmanagement.com

vCard: Mitchell B. Arden.vcf