BDO United States

kcsaplar@bdocap.com
Direct: 617.422.7578
Mobile: 617.513.8309

100 High Street
9th Floor
Boston, MA
02110

Kenneth A. Csaplar
President

Mr. Csaplar serves as President and Managing Director of BDO Capital Advisors, LLC (formerly Trenwith Securities, LLC). Before founding Trenwith's Boston office, Mr. Csaplar co-managed Andersen's New England Corporate Finance Group. Prior to joining Andersen, he founded and ran Fleet Financial Group's merger and acquisition department and was responsible for sourcing and closing transactions in Fleet's eight-state geographical foot print. While at Fleet, Mr. Csaplar's primary focus was working with and advising owners of privately owned middle-market companies implementing capital raising and liquidity events through capital raises, recapitalizations, the sale of their companies, special dividends and leveraged ESOPs.

Prior to joining Fleet, Mr. Csaplar was employed at Brown Brothers Harriman & Co. overseeing the firm's Corporate Finance activities, in the Boston office. During his 13 year tenure at BBH & Co., he negotiated and closed capital raises and mergers and acquisition transactions including stock and asset sales of middle market and closely held public companies. In addition, he has valued corporate common and preferred stock and has been a panelist in numerous seminars. Prior to joining Brown Brothers, Mr. Csaplar was employed as an investments banker at Lepercq Capital Corp. in New York City structuring sale lease back transactions for large real estate projects with equity interests sold through Drexel Burnham Lambert, Merrill Lynch Capital and Paine Webber Securities.

Mr. Csaplar received a M.B.A. from Cornell University, a M.S. in Taxation from Bentley College, and a B.A. from the University of Pennsylvania. He is qualified as a General Securities Representative and a General Securities Principal.

skrueger@bdocap.com
Direct: 714.668.7389
Mobile: 949.300.5068

3200 Bristol Street
4th Floor
Costa Mesa, CA
92626

Scott Krueger
Chief Operating Officer

Mr. Krueger serves as Chief Operating Officer for BDO Capital Advisors, LLC (formerly Trenwith Securities, LLC). He has fifteen years of experience in financial operations and is responsible for the financial planning, reporting and general operations for BDO Capital Advisors.

Mr. Krueger began his career at The Walt Disney Company in the corporate financial planning and analysis department. He has since held highly visible financial planning and operations positions with other Fortune 100 companies such as The Coca-Cola Company and Ingram Micro. Mr. Krueger joined BDO from RSM EquiCo where he was an integral part of the executive management team providing analysis and insight as related to the financial planning function for the company.

Mr. Krueger is a graduate of Pepperdine University with a Masters in Business Administration and has an undergraduate degree in Finance from the University of Southern California. He is also a member of Financial Executives International (FEI).

pnguyen@bdocap.com
Direct: 212.885.8070
Mobile: 646.431.8878

100 Park Avenue
New York, NY
10017

Patrick Nguyen
Vice President

Mr. Nguyen serves as Vice President for BDO Capital Advisors, LLC (formerly Trenwith Securities, LLC). He has over ten years experience working with troubled and distressed companies. Mr. Nguyen's distressed situation experiences include advising clients in debt restructurings (both in and out of court), loan workouts, bankruptcies and corporate turnarounds. He has advised troubled companies, secured lenders, financial sponsors, unsecured lenders, and unsecured creditors' committees in the telecommunication, bakery, manufacturing, retail, and wholesale distribution industries.

Most recently, Mr. Nguyen managed the expedited sale of Dial-A-Mattress in a §363 sale which resulted in a recovery of 85% to the unsecured creditors. Mr. Nguyen has also served in interim management and officer roles for client organizations during the restructuring process, including Interstate Bakeries Corporation, the largest wholesale bread and cake distributor in the Unites States and the home of two American icons: Twinkies and Wonder Bread.

Prior to joining BDO, Mr. Nguyen worked in the Restructuring and Turnaround Group at Alvarez & Marsal, LLC. Previous to that he worked as a management consultant at Booz Allen Hamilton.

Mr. Nguyen earned his B.S. in Computer Engineering from Virginia Tech and his MBA from Cornell University.

Key clients

Reader’s Digest, Dial-A-Mattress, CFM, Cardiac Management Systems, Against All Odds, Zanios Foods, Questex, Interstate Bakeries, Home Décor, and Quaker Fabrics.

jrmanning@bdocap.com
Direct: 212.885.7396
Mobile: 917.549.0312

100 Park Avenue
New York, NY
10017

Jeffrey R. Manning
Managing Director

Mr. Manning is a managing director and group head of BDO’s special situations practice. With 29 years of professional experience, he has been active across the special situations market since 1983, with activity in investment banking, loan workout, operating restructuring, value investing, bankruptcy advising, and loan trading.

Prior to joining BDO Capital Advisors, LLC (formerly Trenwith Securities, LLC), Mr. Manning was the Chief Executive Officer of FTI Capital Advisors, the wholly-owned investment banking subsidiary of FTI Consulting. Mr. Manning has also led the special situations practice at other Wall Street firms, including Legg Mason Wood Walker and Rodman & Renshaw. He started the Global Bank Debt trading desk at Schroder Wertheim. Mr. Manning moved to Wall Street in 1992 at S.N. Phelps & Co., a well-known Greenwich, CT based "vulture investor.” Mr. Manning began his career in 1981 with Manufacturers Hanover Trust, where he moved to “special loans” in 1983, and then did operating restructuring work for Dun & Bradstreet from 1987 to 1992.

He is a frequent speaker at industry and university events.

Mr. Manning holds a B.A. from Yale University and an M.B.A. from Columbia University. Mr. Manning is qualified as a General Securities Representative and as a General Securities Principal. He also holds the Certified Turnaround Professional designation.

Jeff Manning penned a chapter for the Thomas Reuters / Aspatore book InsideTheMinds: The Industries Most at Risk in Bankruptcy Legal and Financial Experts on What to Expect, Avoiding Financial Trouble, and Thoughts on the Future. Jeff’s chapter is entitled "Saving Technology and Service Companies from Chapter 11."

Key clients

Reader’s Digest, Dial-A-Mattress, Health Diagnostics, SIRVA, American Home Mortgage, Harvey Electronics, CFM US, Avado Brands, Tweeter, Broadview Networks, Arcadia Healthcare, Seitel, Corban Communications, Cannondale, Devon Mobile Communications, Standard Automotive Corporation, USA Floral Product, National Record Mart.

ksendlenski@bdocap.com
Direct: 617.422.7536
Mobile: 617.970.7033

100th High Street
9th Floor
Boston, MA
02110

Kevin Sendlenski
Senior Vice President

Mr. Sendlenski is a Senior Vice President in the Boston office of BDO Capital Advisors, LLC (formerly Trenwith Securities, LLC). Mr. Sendlenski has more than 10 years of investment banking experience with a particular focus on advising corporations on mergers and acquisitions, leveraged recapitalizations and ESOP transactions as well as raising debt and equity capital for growth-related institutions. In addition to maintaining relationships with hundreds of middle-market private equity firms, Mr. Sendlenski has been invited to participate on leveraged recapitalization panels to discuss financing, the deal process, negotiating employment agreements and how entrepreneurs can effectively work with private equity firms.

Prior to joining Trenwith Securities, Mr. Sendlenski worked in the technology investment banking group of Alex. Brown and Deutsche Bank Securities. During his time at Deutsche Bank, Mr. Sendlenski worked on public and private capital raises and merger and acquisition transactions for clients such as Accenture, Lucent, NEC and Adtran.

Mr. Sendlenski has been selected as one of the Top 40 Investment Bankers Under Age 40 by Investment Dealers’ Digest. Mr. Sendlenski holds a Bachelor of Arts degree from Williams College where he was an economics major. He is qualified as a General Securities Representative.

ashakiba@bdocap.com
Direct: 714.913.2609
Mobile: 949.400.7006

3200 Bristol Street
4th Floor
Costa Mesa, CA
92626

Ali Shakiba
Vice President

Mr. Shakiba serves as Vice President for BDO Capital Advisors, LLC (formerly Trenwith Securities, LLC). He has over ten years of experience in international business management and operations, including start-ups and early stage companies, as well as financial analysis, business valuations, and investment banking services.

Previously, Mr. Shakiba served as a Senior Financial Analyst for Ascendiant Securities, a boutique investment banking firm. While at Ascendiant, he assisted management in closing more than 30 transactions, including PIPEs, Convertible Debts, Equity Lines, and Reverse Mergers. Prior to Ascendiant Securities, he served as an Associate Equity Research Analyst for Roth Capital Partners, LLC, a full-service investment banking firm primarily focused on larger emerging growth companies listed on the NASDAQ or American Stock Exchange.

Mr. Shakiba was also Co-Founder and Managing Director of Nik Sport Company, an international sporting goods company involved in the exclusive distribution of selected products in the Persian Gulf region.

Mr. Shakiba completed his MBA at the University of California, Irvine, and previously earned an undergraduate degree in Industrial Chemistry. Mr. Shakiba is a qualified General Securities Representative. He is also a Certified Insolvency and Restructuring Advisor.

vmidura@bdocap.com
Direct: 617.422.7593
Mobile: 978.873.1314

100 High Street
9th Floor
Boston, MA
02110

Valentina Midura
Managing Director

Ms. Midura is the head of BDO Capital Advisors’ Technology Industry practice and has more than 13 years of investment banking experience. In addition to overseeing this industry vertical, she also is primarily responsible for maintaining BDO’s relationships with the private equity community. Ms. Midura is a specialist in numerous transaction structures and processes including leveraged recapitalizations, the "auction sale" and a variety of other going to market techniques and deal structures. Ms. Midura has authored numerous industry and process related articles and routinely participates in speaking engagements, presentations and industry symposiums. Her transaction resume includes the successful sale of over 30 companies with total client consideration value approaching $1 billion.

Prior to joining BDO Capital Advisors, LLC (formerly Trenwith Securities, LLC), Ms. Midura served as a Director in the investment banking division of Andersen Global Corporate Finance, LLP, joining that group in 1998. While at Andersen's Boston office she was a key architect in the firm's investment banking technology go to market strategy and a contributor to the firm's growth across a variety of technology sectors including software, hardware and IT services. In addition to technology, Ms. Midura specializes in analyzing and processing value-enhancing liquidity alternatives for companies across a wide range of industries including manufacturing, healthcare, distribution, consumer products and business services.

Ms. Midura began her career with Andersen, LLP providing global business consulting and regulatory advisory services to companies within the public and private sectors. Ms Midura holds a Bachelor of Science from the Whittemore School of Business at the University of New Hampshire is qualified as a General Securities Representative, is a Certified Public Accountant and a member of the Massachusetts Society of CPAs and AICPA.

hprice@bdocap.com
Direct: 214.665.0702
Mobile: 469.556.6104

700 N. Pearl Street
Suite 2000
Dallas, TX
75201

Harrison L. Price
Managing Director

Mr. Price serves as Managing Director for BDO Capital Advisors, LLC (formerly Trenwith Securities, LLC). He has 19 years of M&A advisory and institutional private finance experience. Mr. Price's background includes extensive buy-side and sell-side deal management for both private and public company clients. He has completed over 40 financial advisory engagements spanning most major industry groups. He has arranged private capital transactions totaling $1.1 billion with institutional debt and equity sources. Mr. Price has testified in federal court as an expert on a variety of distressed M&A matters including the valuation of distressed businesses, the adequacy of due diligence efforts, and the effectiveness of the marketing processes used for selling bankrupt companies.

Mr. Price's distressed situation experience includes completing both acquisitions and divestitures of companies in Chapter 11. He has testified as an expert witness in bankruptcy court, served as the financial advisor to bankrupt businesses, and raised capital for distressed companies. He has also served as financial advisor to unsecured creditors' committees.

During his career Mr. Price has provided both M&A services and financing services, including capital solicitation, structure, and placement. He has worked on a wide variety of transactions including private offerings of debt and equity, debt restructurings, corporate acquisitions by private investors, and sales and acquisitions of public and private companies. He has particular industry expertise in the retail, automotive, and healthcare industries.

Mr. Price has structured and financed numerous transactions involving non-bankrupt distressed companies. Some of his recent transactions include arranging $866m of senior and junior debt for a $2 billion public specialty retailer; advising a $370m manufacturer of food-grade specialty chemicals during its downsizing and financial restructuring; and representing a $40m manufacturer of casual travel gear which was in default to its senior lender, in restructuring its credit facility.

Prior to joining our firm Mr. Price was a Managing Director in the Restructuring and Turnaround Group at Stout Risius Ross, Inc. Previous to that he headed the M&A and capital markets groups for both XRoads Solutions Group, LLC, a national restructuring and turnaround firm, and for KPMG Corporate Finance LLC's Southwest Region, which provided these services to non distressed private companies.

Mr. Price earned his B.S. in Economics and his J.D., each from the University of North Carolina.

dwulffleff@bdocap.com
Direct: 212.885.8108
Mobile: 917.969.6441

100 Park Avenue
New York, NY
10017

Douglas R. Wulffleff
Senior Managing Director

Mr. Wulffleff serves as Senior Managing Director of Global Banking for BDO Capital Advisors, LLC (formerly Trenwith Securities, LLC). He is responsible for the delivery of merger and acquisition advisory services to middle market, large private and multinational clients worldwide.

Mr. Wulffleff has more than 25 years of experience as a financial advisor to clients across numerous industries including construction, financial institutions, food, electronics, publishing, pharmaceuticals, communications, chemicals, retail, information technology and consumer durables, and he has led transaction teams in over 20 countries.

Mr. Wulffleff joined BDO in 2002. He has previous experience with BT Securities Corporation, the merchant banking group of Bankers Trust New York where he advised on middle-market mergers and acquisitions on a global basis and all types of financings, and with the Corporate Finance practices of Coopers & Lybrand and Arthur Andersen LLP.

Mr. Wulffleff is a graduate of Colgate University, and holds an MBA with High Honors from Adelphi University. He is qualified as a General Securities Representative and a General Securities Principal.

Key clients

ABB Inc., AEP Industries, American General, Digital Equipment Corporation, European American Bank, Dover Corporation, DynCorp, Carlisle Companies, Cooper Industries, Compaq Computer, Eastman Kodak Company, General Electric Company, General Signal Corporation, General des Eaux (now Vivendi), Hewlett Packard Company, Linamar Corporation, RPM International, and VWR International.

kwilkerson@bdocap.com
Direct: 214.259.1415
Mobile: 310.871.4800

700 North Pearl Street
Suite 2000
Dallas, TX
75201

Kirby B. Wilkerson
Vice President

Mr. Wilkerson is a Vice President for BDO Capital Advisors, LLC. Mr. Wilkerson has over 10 years of investment banking experience and has completed a wide variety of transactions, including mergers and acquisitions, corporate advisory assignments, leveraged / management buyouts, recapitalizations, private debt financings, and bank financings for both public and private companies. In addition, Mr. Wilkerson maintains close relationships with a broad network of private equity firms.

Prior to joining BDO Capital Advisors, Mr. Wilkerson worked in the Basic Materials & Construction Services Group at Stephens Inc. providing M&A advisory and capital-raising services for public and private companies in the building products, construction services, and industrial manufacturing sectors. Prior to joining Stephens, Mr. Wilkerson worked for McGladrey Capital Markets LLC. Mr. Wilkerson began his career in the Southwest Corporate Finance Group of Banc of America Securities and its predecessor firm, NationsBanc Montgomery Securities.

Mr. Wilkerson received his M.B.A. from USC’s Marshall School of Business and his B.B.A. from Southern Methodist University.