Founder | Managing Partner
Bullet Partners, LLC
2017 - PRESENT
- Founded Bullet Partners, LLC, a healthcare-focused advisory and investment firm. Responsible for all investment ($1-5 million EBITDA) and advisory-related activities.
- Helped management teams and board of directors execute high-priority initiatives, including growth strategy (organic and acquisitive), market and competitor assessments, and select acquisition-related diligence assignments.
- Conducted an independent valuation and subsequent report for a shareholder of a private, closely-held healthcare business. Analyses included both income (DCF) and market-based (public comps and precedent transactions) approaches to support the overall valuation.
- Provided strategic advisory services for technology business seeking growth capital. Worked with the founder to refine the business model, pricing strategy, customer acquisition strategy, pipeline development methodology, targeted investor list, and investor presentation.
- Maintained active relationships with the lower middle market healthcare deal community.
Focus areas: Mergers & Acquisitions (M&A), Financial Advisory, Private Equity, Healthcare, Private Company Valuation, Due Dilligence
Co-Founder | CFO
Narus Health, Inc.
2014 - 2017
- Co-founded Narus Health, Inc., a healthcare startup focused on technology-enabled care management. Created the initial business plan, go-to-market strategy, operating models, and core infrastructure/systems across finance/accounting, IT, and operations.
- Closed $8.1 million in seed and Series A rounds to support product development and expansion. Developed a bottoms-up, 36-month forecast with multiple sensitivities to accurately track cash burn and break-even analysis.
- Led the negotiations, structuring (valuation and terms), and collateral development for capital raises.
- Managed the monthly-closing of financials and quarterly financial package for investors.
- Supported sales and IT senior leadership with financial-driven initiatives, including pipeline tracking and evaluation, buy vs. build analysis, customer contracting and pricing, and SaaS-based operating models.
- Established a target list for potential add-on acquisitions; conducted diligence and preliminary valuation analysis on three opportunities, including one LOI; maintained active correspondence with the sell-side deal community.
Focus areas: Startup Funding, Cash Flow Modeling, Capital Raising, Business Plan Development, Venture Funding, Capital Structure Analysis, Transaction Structuring, Financial Planning & Analysis (FP&A), Investment Memoranda
Director, Corporate Development (M&A)
Change Healthcare (a Blackstone-backed HCIT business)
2013 - 2014
- Led and executed strategic acquisitions representing $300 million in aggregate consideration.
- Supported principal investors (Blackstone, Hellman & Friedman) and senior management internally across all phases of the investment timeline: from pipeline development, evaluation and diligence, valuation and structuring, committee memoranda, post-closing integration, to growth and strategic planning.
- Collaborated with senior leadership to identify revenue and cost synergies in order to evaluate the impact on pro-forma valuation and return models.
- Created detailed investment memoranda covering financial, strategic, operational, funding, and legal considerations for each target acquisition.
- Selected to participate with McKinsey & Company on a six-month engagement covering consumer engagement and population health initiatives.
Focus areas: Mergers & Acquisitions (M&A), Market Research, Investment Memoranda, Valuation, Valuation Multiples, Transaction Structuring, Transaction Modeling, Due Diligence
Vice President, LBO Fund
Gen Cap America, Inc.
2011 - 2013
- Led the deal sourcing, evaluation, diligence, financing, and transaction execution across four markets (East and West Coast). Sourced and screened 600+ investment opportunities and corresponding IOI/LOI submissions.
- Developed investment memoranda and supporting LBO analyses for healthcare manufacturer and niche electronics distributor acquisitions. Analyzed stated vs. adjusted EBITDA calculations, legacy customer bases, cross-selling trends, and price-volume erosion to support base case return expectations and overall deal structuring.
- Managed quarterly reporting for twenty-two portfolio companies. Tracked year-to-date (YTD), year-over-year (YOY), and trailing twelve months (TTM) financial metrics for active investments. Derived implied valuations for active portfolio investments.
- Maintained active relationships with bankers, intermediaries, brokers, and other deal professionals (legal, accounting, and financing sources).
Focus areas: Private Company Valuation, Mergers & Acquisitions (M&A), Transaction Structuring, LBO, Deal Sourcing, Transaction Execution
Associate, LBO Fund
Harbert Private Equity Funds
2008 - 2009
- Executed an investment in leading residential treatment facility. Conducted comprehensive due diligence, built base case model, and wrote committee memorandum.
- Supported senior management with strategic initiatives at two portfolio companies. Identified add-on acquisitions and built supporting pro-forma financial models with multiple pricing toggles.
- Trained and assisted junior colleagues with internal LBO model and use case development.
- Created marketing collateral, portfolio company tearsheets, and supported fund analyses for external fundraising efforts.
- Managed internal fund model for performance tracking. Reviewed and reported gross and net IRR sensitivity analyses to fund leadership.
Focus areas: Private Equity, Private Company Valuation, Growth Equity, Healthcare, Investment Memoranda, Consumer Lending, Manufacturing, Distribution, Capital Structuring, Debt Financing, Flow of Funds
Senior Analyst, Investment Banking
Morgan Keegan & Company, Inc.
2006 - 2008
- Managed the sale processes (pitch-to-close), including the development of all marketing materials (CIMs) and supporting financial analyses, for three transactions. Performed unit-level analysis of 80+ convenience store chain acquired by Sun Capital Partners.
- Co-led $103 million follow-on equity offering (NYSE: AAN). Developed valuation model and sales memorandum. Sole junior banker on deal team.
- Supported retail and consumer senior bankers with pitch development, financial modeling/target company analyses, transaction execution, and industry research.
- Completed Training the Street and Wall Street Prep training courses covering accounting and financial statement analysis, capital markets, corporate valuation, financial modeling, and transaction modeling.
Focus areas: Valuation, Valuation Modeling, Discounted Cash Flow (DCF), Comparable Company Analysis, Comparable Transaction Analysis, Mergers & Acquisitions (M&A), Equity Offerings, Pitchbooks, Pitch Deck Financials, Information Memoranda, Private Company Valuation, Financial Statement Analysis, Pro Forma Financial Statements, Unit-level Economics