Mr. Cleary joined Fort Dearborn Partners in the spring of 2012. Primarily based in the restructuring group, he helps stabilize financial and operational performance by developing and implementing comprehensive profitability and working capital plans. On a typical engagement, he will build integrated financial models to forecast the income statement, balance sheet, cash flow and lending compliance of clients for forebearance agreements or refinancing. He also prepares 13-week cash flow forecasts, borrowing base and other schedules to reassure creditors and investors that the company is solvent and addressing identified problems. A business plan is developed and he assists in the implementation of cost-reduction initiatives, disposition of non-core assets, implementation of cash conservation strategies and the on-going communications process with the creditors and investors of the company. Work is typically performed for business owners, management, private equity firms, banks and various types of lenders.
On investment banking engagements, he prepares financial models and information memorandums for debt and equity placement, handling all information requests and communications from potential lenders/buyers and assists in negotiations to close the transactions.
For financial due diligence assignments for asset and stock-based transactions, Mr. Cleary prepares workpapers and presentation materials when the team prepares a quality of earnings and conducts an assessment of the quality of assets. He also prepares workpapers and reports for lending due diligence and field exams for financial institution's cash flow and asset-based loans.
Mr. Cleary prepares workpapers and reports for valuation engagements when a discounted cash flow is required, performs comparable company analysis, precedent transactions and other schedules as required.
Mr. Cleary started his career in public accounting with McGladrey & Pullen, where he was a Supervisor in the Assurance Services practice, providing services to primarily middle market companies. He was responsible for supervising and developing staff accountants, reviewing related work product, and providing overall support to management in the facilitation of engagements. In addition to performing audits, he also worked as a consultant with the FDIC as the receiver of failed institutions.
Industry experience includes: manufacturing, construction, food, retail, consumer products, distribution, steel service centers, metal finishing, publishing, staffing companies, oil and gas, governmental entities and financial institutions.
- Wachs Services $15M Refinancing
- $150M Book Publisher restructuring engagement
- $70M Blow Molding Manufacturer restructuring
- $100M Metal Finishing restructuring
- $90M Trucking Logistics (asset heavy) restructuring
- M&A Due Diligence - Target was $660M Food Distribution company
- M&A Due Diligence - Assisted a strategic acquirer purchase a company out of bankruptcy
- University of Iowa – BS Accounting
- Northern Illinois University – MA Accounting
Certifications and Memberships
- Certified Public Accountant
- Series 7, 63, 79