Michael Ragano is a Partner with Novo Advisors and has over 15 years specializing in performance improvement, restructuring, turnarounds, and mergers & acquisitions. Michael offers assistance to clients facing an array of challenges across a variety of industries including horticulture, manufacturing, distribution, publishing, consumer products and fundraising.
Michael offers critical assistance to under-performing companies, in crisis, or healthy with underperforming divisions. Michael has relevant experience including, but not limited to, business plan development, evaluation, and execution; liquidity assessments, including the construction of 13-week cash flow projections and implementation of cash conservation efforts; implementing operational and financial restructurings; bankruptcy planning and evaluation efforts; identification and disposition of non-core assets; cost-reduction and other performance improvement efforts; and managing creditor and key constituent communications.
- As the COO of a $100 million commercial roofing contractor, Michael assisted the Company through supply chain challenges, rebuilding its sales team, and transitioning its operations from a sub-contracted labor model to a self-performed model.
- As the CRO of a $55 million sub-prime lender, Michael stabilized portfolio operations and successfully marketed the portfolio for sale. Additionally, Michael served as the Federal Receiver to a Texas-based sub-prime lender.
- As the Interim COO of a $170 million commercial cleaning business, Michael led the realignment of the company’s ~5,000-person field operations team, stood up an FP&A and operational support team, and developed a robust suite of operational & financial KPI reports to provide clients with real-time reporting of key metrics throughout the pandemic.
- Working with a $450 million debt fund, Michael assisted in stabilizing operations and developing and executing monetization strategies for each of its underperforming borrowers.
- As an advisor to bondholders of a $140 million healthcare services company that serves assisted living and retirement communities, Michael developed potential debt restructuring alternatives.
Before Novo, Michael was an Operations Manager at McMaster-Carr Supply Company’s Chicago distribution center focusing on their order fulfillment and assembly/packing operations. Prior to McMaster, Michael was an Associate at Wynnchurch Capital focused on control equity investments in middle-market companies.
Michael holds a B.S. in finance from the University of Illinois. He is an active member of the local chapter of the Turnaround Management Association and Secured Finance Network.