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David M. Drinan

David M. Drinan

Managing Director

Bio

Dave Drinan is a Managing Director at Phoenix Capital Resources with more than 23 years of experience in finance and operations.  He is a registered investment banker currently focused on raising growth capital for restaurant and restaurant technology companies. 

Dave’s professional experience includes investing in public growth equities and private venture capital deals.  He has spent much of his career restructuring and serving as Interim CFO for underperforming companies and creating and implementing profit improvement plans.

His investment banking experience includes raising growth equity & debt, refinancing debt, corporate restructurings, and mergers & acquisitions. With his investment and restructuring background, Dave brings an investor perspective and takes a deep dive into operational complexities to advise clients on their optimal path to shareholder value maximization.

Life Before Phoenix

Prior to joining Phoenix, Dave worked for nationally recognized consulting firms in the areas of corporate restructuring, interim management, transaction advisory (QofE), profit improvement and investment banking. Earlier in his career he worked as an equity analyst, portfolio manager, and venture capital investor.

Education & Affiliations

Dave earned a B.A. in Finance from the University of Illinois and an MBA with concentrations in Finance, Economics, and Entrepreneurship from the University of Chicago, Booth School of Business. He earned the Chartered Financial Analyst (CFA) designation from the CFA Institute. He is a Certified Insolvency and Restructuring Advisor (CIRA). He passed the examinations for the Certified Turnaround Professional (CTP) designation from the Turnaround Management Association. He holds the Series 79 and 63 and is a registered investment banker.  He has served on Non-profit boards and advised non-profits in performance improvement, cash management, M&A and fund raising.  He is a strategic advisor to grantees of the Robin Hood Foundation an organization fighting poverty in New York City. 

Featured Transactions

Advisor, Food Hall Development and Management Company: Led $5 million growth capital raise for an innovative food hall development and management company to support its unit growth from one to five locations.

Interim Chief Financial Advisor, Metal Door Manufacturer: Served as Interim Chief Financial Advisor for a $200 million annual revenue metal door manufacturer. Led finance team reorganization and achieved several major objectives within two and a half months, including cash flow forecasting and liquidity management, billing and collections clean up, structured payables management, inventory reductions, and improved purchasing decision. Responsible for establishing accounting policies and procedures, establishing timely monthly financial reporting, creating roles and responsibilities for accounting team and holding people accountable for results. Cleaned up billing cycle within two weeks, which was 3 months behind schedule, vastly improved collections results, accounts receivable ineligibles were reduced by $5 million, reduced borrowings under the revolver by $2.5 million, cleaned up accounts payable, reduced inventory, and expedited ERP implementation.

Advisor, National Restaurant Chain: Led a profit improvement project for a national restaurant chain with $500 million system wide revenue. Savings included labor efficiency, strategic sourcing, and SG&A reductions. The EBITDA improvement equated to a 5X return on the investment of the engagement by the client. The client enjoyed the long-term benefits of the management strategies, tools, and training to drive further operating improvements for the company. The Activist Investors made substantial profits on their investment in the stock.

Assistant to CRO, Electronics and Housewares Distributor: Assisted the Chief Restructuring Officer of an $800 million revenue electronics and housewares distributor. Led cash flow forecasting, cash management, working capital management, vendor negotiations, collections efforts, inventory management, and purchasing controls. Developed the DIP financing model and assisted with Chapter 11 bankruptcy filing matters. Helped reduce the senior lenders’ exposure from $80 million to $20 million.

Financial Advisor, Insurance Company: Served as the Financial Advisor to a major insurance company with regard to their ownership position in a monorail company. Responsibilities included tracking cash flow and providing financial projections, reviewing/challenging the debtor’s proposed Plan of Reorganization, and advising the client on their settlement with the bondholders.

Financial Advisor, Specialty Chemicals Company: Served as Financial Advisor to a $2 billion revenue specialty chemicals company. Led the cash flow forecasting and liquidity management efforts for the company during the global economic recession and liquidity crunch. Spearheaded the special task force that reported directly to the CEO assembled to address liquidity and business issues in Europe. Managed the liquidity crisis so the client was able to survive the macro-economic recession and resulting global credit crisis without having to resort to a Chapter 11 filing. The stock price rose from $0.81 to over $10.00 per share during the engagement.

Chief Restructuring Advisor, Multi-Family Apartment REIT: Assisted the Chief Restructuring Advisor of a $22 billion Multi-family Apartment REIT during a global financial crisis. Assisted with the development of contingency plans and strategies to prepare the client with alternatives in the event its lenders could not reach agreement to continue to support the company.

Office: (646) 490-5063

Mobile: (917) 902-0776

Office Location: New York

Years with Phoenix: 6

Years of Experience: 18

Service Specialties:

DIP Financing

Equity Raise

Mergers & Acquisitions

Recapitalization

Restructuring

Refinancing

Industry Specialties:

Restaurant

Restaurant Technology

Hospitality

Real Estate

Retail

Consumer Products

Automotive

Distribution

Energy

Healthcare

Manufacturing

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