About Michael
Michael has over 25 years of experience in leading organizations to significant business success, implementing systems and best practices, guiding and mentoring leaders, and transforming culture. As a successful private equity infrastructure CEO, he achieved a record 2.7x MOIC for investors. He has a unique blend of business and legal skills and experience necessary to maximize investment and financial returns and deliver results, with a strong record of transformative growth. He understands how to create a high-performance culture of integrity and intellectual rigor. He is a graduate of Villanova University and Temple University Law School. He is a life long practicing Buddhist.
Among other leadership roles, he served as President & CEO of SourceGas LLC. In this role, Michael drove company growth via strategic planning, asset optimization, employee engagement, acquisitions, change management, organic growth and cost discipline, leading to record breaking sale in 2016. Michael led company to unprecedented profitability and a record sale, with annual gross margin of ~$300 MM, EBITDA of ~$150 MM, and Net Income of ~$60 MM. Michael drove company growth via institution of high-performance culture, rigorous analysis, planning, development and execution of cross-functional strategic plan, asset optimization, continuous improvement, employee engagement, acquisitions, and cost discipline.
Key Accomplishments:
Positioned company and led executive and PE team to~ $2 Billion sale;
15.3x EBITDA multiple sale, one of the highest ever for a U.S. LDC.
Generated +15% IRR and MOIC of 2.7x for investors
Oversaw $800 Million in investments and acquisitions,
Industry leading annual customer growth (~2% compared to industry average of ~ 1.2%)
Lifted ROAIC (~7%) and ROAIE (~10%) to industry leading
Overall earned book equity returns consistently above regulated ROEs (~10% to 14%);
Company record earnings for 3 years while CEO (EBIDTA CAGR of ~8%, Net Income CAGR of ~ 14%)
Championed constructive relations with regulators; implemented robust cross-functional financial planning; maximizing rate case outcomes, innovating revenue recovery mechanisms, minimizing regulatory lag, stabilizing revenues, and promoting growth
Number One ranked customer satisfaction (NPS of 33, Peer group average 8)
