Vincent J. Colistra
Managing Director and Shareholder
Years with Phoenix: 9
Office location: Philadelphia, PA and Ft. Lauderdale, FL
Vincent J. Colistra is a Managing Director and Shareholder of Phoenix Management Services, Inc. and directs the firm’s investment banking division, Phoenix Capital Resources. He joined the company in 1997 as a Director and became a Partner in 1998. Mr. Colistra has managed or participated in over 50 engagements since joining Phoenix that involved developing and implementing solutions in complex corporate restructurings, recapitalizations, re-financings, the raising of senior debt, 2nd lien debt, subordinated debt with warrants and preferred and common equity, as well as representing strategic and financial buyers and sellers of businesses.
In addition, Mr. Colistra has successfully managed numerous engagements for companies operating under the protection of Chapter 11 of the United States Bankruptcy Code that involved operational turnarounds, balance sheet restructurings and sales of the businesses through the §363 auction process. He has assisted clients in a wide spectrum of industries including manufacturing, distribution, equipment leasing, specialty/structured financing, mining, restaurants and retailing in both the public and private sector, and has served in the capacity at Phoenix Management as a both financial advisor and in direct interim management positions as CRO, CEO, COO and CFO.
Recent Phoenix accomplishments include:
Served as Chief Restructuring Officer to Piccadilly Cafeterias, Inc., the largest publicly held restaurant chain in the Southeast with over 175 locations in 14 states that involved the restructuring, turnaround and sale of the business at a 50% premium over the initial “stalking horse” bid negotiated prior to filing bankruptcy as a result of the improved EBITDA from the turnaround initiatives.
Served as Financial Advisor in the re-financing and re-capitalization of a $250 million leading provider of electronic manufacturing services (EMS) business that involved $55 million of new facilities, including a new asset based revolver, “B loan” and subordinated debt.
Served as the Chief Operating Officer of UniCapital Corporation, a publicly held national equipment leasing and specialty finance company that was involved in the origination, acquisition, packaging-for-sale and servicing of equipment leases. Mr. Colistra was responsible for the day-to day workings of the various operations, in addition to building consensus and coordinating the overall final settlement with the various constituents in the case.
Served as the exclusive Financial Advisor to Kellstrom Industries, Inc., a publicly held aviation parts after-market distributor that was severely impacted by the events of September 11. The engagement involved the restructuring of the company’s senior $160 million revolver (that included 15 bank participants); senior subordinated debt of $30 million; and $160 million of publicly traded high yield bonds. Mr. Colistra led the restructuring efforts, including the structuring, negotiating and eventual reaching of consensus with the various constituents through a series of forbearance agreements covering a five-month period that allowed the company to find a “stalking horse” and conduct an auction through a pre-arranged bankruptcy. The §363 process resulted in the stalking horse pre-empting the other bidders by raising its initial price by 10%, and a final settlement was finalized with the various constituents. The company emerged from bankruptcy in less than 120 days as a privately owned company, with the existing management running the business and having a sizable equity position in the new company.
Before joining Phoenix, Mr. Colistra was Senior Vice President of Finance and Administration and CFO of a holding company with operating subsidiaries in contract operations, manufacturing and the licensing of proprietary technology to sub-licensees throughout the United States and Canada; served as Senior Vice President and COO of a company in the manufacturing and distribution of building products and CFO of a group of companies involved in steel processing; and spent nearly 15 years in banking where he held various positions in corporate finance, investment banking, corporate lending and asset based financing, wherein his engagements involved recapitalizations, leveraged/management buy-outs, acquisition financing, divestitures and advisory roles in overall capital restructurings. He also held international banking positions at Wachovia Bank, where he was General Manager of Wachovia’s New York office, and at Bank of America.
Education/Affiliations
Mr. Colistra holds an MBA from Fordham University, where he majored in Corporate Finance, and a B.S. from Pennsylvania State University where he majored in Finance and Economics.
Contact
- (610) 358-4700×109 phone
- (610) 358-9377 fax
- (215) 275-7110 cell
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