Joseph Nappi

Vice President
Years with Phoenix: 6
Years of Turnaround Experience: 8
Office location: Boston, MA

Joe Nappi is a Vice President at Phoenix and a seasoned turnaround professional who has led and assisted companies during the past 11 years in a variety of transitional situations. Specializing in working with management teams Mr. Nappi has served his clients in various operating & financial management, advisory and interim/crisis management capacities. His propensity to develop collaborative solutions within all of the Company’s constituents is a particular strength that leads to effective & measureable solutions. Mr. Nappi’s specific expertise includes operational and financial restructuring strategies; business plans and related financial projections; cost cutting and revenue enhancement strategies; liquidity management; asset valuations; structuring and raising company financing; supporting companies thru Chapter 11 proceedings; and other asset dispositions and wind-downs.

During his career, Mr. Nappi has been involved in a wide variety of assignments across several industries and business environments including: public, private, family-owned, start-up and private equity sponsored companies. Mr. Nappi has served in interim management roles including Chief Restructuring Officer (“CRO”) and Chief Financial Officer (“CFO”) in companies ranging from multi-state towing companies to multi-national architectural & engineering firms. Mr. Nappi has also lead many M&A related due diligence and business assessments for a broad range of middle market companies in various stages of transition, including most recently one of the largest transportation companies in the United States.

Mr. Nappi’s understated style allows for his clients and their related constituents to reach consensus in a manner that reflects his practical approach to problem solving. His expertise in financial analysis and forecasting and exceptional operating acumen leads to an ability to quickly assess a situation, develop practical strategic alternatives, build consensus and implement an effective strategy that addresses his clients’ issues.

Phoenix Management Services Experience

• Turnaround Management
• Crisis Management
• Interim Management
• Operational Assessments
• Financial Forecasting

• Cash Management
• Strategic Advisory
• Bankruptcy Advisory
• Liquidation and Business Wind Down
• Due Diligence Reviews

Select Advisory Assignments

Served as Chief Restructuring Officer for a middle market multi-location Architectural, Interior Design and Engineering Firm. As CRO, oversaw the restructure of the companies operations, streamlined its financial reporting, negotiated with the Company’s unsecured constitutes and worked thru finding a more permanent and acceptable working capital solution.

Served as interim CFO for one of the largest independent providers of vehicle towing, recovery, and auto auction services serving the Mid-Atlantic region of the US. In the capacity of interim CFO, Mr. Nappi was responsible for directing the activities of the Accounting, Budget, Treasury, and Investor Relations, as well as guiding the Company as it struggled with cash management during a critical year-long reorganization. Under Mr. Nappi’s watch financial disciplines and processes were implemented that served the Company long after the completion of his assignment and significantly improved the Client’s credibility with its lenders and investors

Served as Financial Advisor to a $100 million food distributor, leading negotiations with vendors and developing a 5-year financial and operating business plan that allowed the reorganized company to emerge from bankruptcy in less than a year

Served as Financial Advisor to a $250 million contract manufacturer of circuit boards, successfully performing a financial assessment of the business that included the development of a 3-year financial forecast for the recapitalization of the balance sheet. Upon closing, Mr. Nappi continued to serve as Financial Advisor to the company as it transitioned to the new lending group.

Served as Financial Advisor to a private equity fund, performing a business assessment and financial review prior to a successful $24 million synergistic acquisition of two rubber manufacturing companies that resulted in a Newco with $82 million in revenue

Under the Chief Restructuring Officer, served as Financial Advisor to a $45 million distributor of construction equipment; performed a business assessment and created a 5-year financial forecast model for a planned recapitalization of the balance sheet with new facilities including an asset-based revolver, “B loan” and new equity; conducted various financial analyses of the company’s business plan for the existing creditors and related professionals; and facilitated the due diligence process between the Company, new potential capital investors and related professionals

Served as Interim Cash Manager for a $17 million distributor of solar power manufacturing equipment, successfully renegotiating trade credit terms that resulted in greatly improved operations and cash flow and a successful recapitalization of the balance sheet

Industry Experience

• Aircraft and Parts
• Apparel
• Automotive
• Chemicals
• Consumer Products
• Electrical Products
• Food and Beverage
• General Building Construction
• Health Clubs
• Information Technology
• Leasing

• Machinery
• Medical Products
• Metal Products
• Paper Products
• Personal Care Products
• Pharmaceuticals
• Private Equity Fund
• Restaurants
• Technology
• Telecommunications

Phoenix Capital Resources Experience

• Recapitalization
• Refinancing
• Expansion/Growth Financing
• Out-of-court Bankruptcy Auctions
• Select Buy-Side Engagements
• Balance Sheet Restructurings

Select Capital Advisory Transactions

Served as Financial Advisor in the re-financing and recapitalization of a $250 million contract manufacturer of circuit boards that involved $55 million of new facilities, including a syndicated asset-based revolver, “B loan” and subordinated debt

Served as Financial Advisor in an Assignment for the Benefit of Creditors and managed the core operations of the Company, which provided maximum value for the sale of assets of the $62 million venture-backed biomedical software technology company

Served as Financial Advisor in the re-financing and recapitalization of a $62 million premier manufacturer and supplier of more than 120 specialty chemical products for the personal care and industrial markets; assignment involved $20 million of new debt instruments, including an asset-based revolving line of credit and mezzanine junior capital loan

Prior Experience

Mr. Nappi was a portfolio manager at FleetBoston Financial focusing on middle market companies. At Fleet, he managed a loan portfolio in excess of $500 million, and was responsible for several aspects of the underwriting process and monitoring the portfolio’s performance. Prior to joining Fleet, Mr. Nappi held various portfolio and analytical positions at the Chase Manhattan Bank.

Education/Affiliations

Mr. Nappi graduated cum laude from Babson College with a B.S. in Financial Investments and a minor in Management Information Systems. He is also an active member of the Turnaround Management Association.