WORTH CAPITAL MANAGEMENT
Worth Investment Group follows a very unique approach to acquiring and building companies. Worth acquires 100% ownership in middle market companies with strong management teams and recurring annual cash flow in excess of $1 million. Under Worth’s ownership, our subsidiary companies are given the capital, resources and strategic guidance to grow. We hold our companies long term and focus on calculated, timely growth. Given our commitment to a buy and build strategy, coupled with owning a 100% interest, we have the luxury of time, capital and patience to support long-term growth objectives of our subsidiaries.
The Worth Investment Group Management team has decades of experience building shareholder value in middle market companies. Worth’s focus on detailed financial and operational analysis allows us to move responsively to capture high yields, while minimizing downside risks associated with higher rates of return. The professionals who comprise Worth Investment Group have completed over $1.5 Billion in transactions since 1996, and bring a diverse set of skills and backgrounds that allow Worth Investment Group to benefit from a unique business and operational plan that emphasizes underwriting, due diligence and responsiveness.
MEET THE TEAM
Corporate Leadership & Financial & Business Administration
Eric Boorom, CEO - Worth Investment Group, LLC, Managing Partner - Worth Capital, LLC
Eric Boorom has held positions at The Shane Group, a $100 million annual revenue holding company based in Hillsdale, Michigan, where Mr. Boorom’s responsibilities were focused on development of subsidiaries and the capital market advisory firm. Mr. Boorom has also worked as a team member in the special assignments group at The Bank of Tokyo-Mitsubishi, the second largest bank in the world, and as a credit analyst at ABN-AMRO/LaSalle National Bank, one of the world’s largest banks headquartered in Chicago, Illinois. Mr. Boorom’s responsibilities at both the Bank of Tokyo-Mitsubishi and ABN-AMBRO/LaSalle National Bank included debt recapitalization, operational reengineering, turnaround financing, workout and bankruptcy transactions, real estate financing, enterprise value transactions (cash-flow based financing), mergers, acquisitions, cross-border financing and the issuance/ procurement of subordinated debt, bonds and equity. Mr. Boorom also founded Worth Capital, LLC.
In addition to the experiences outlined above, Mr. Boorom has provided financial advisory services in bankruptcy transactions including Chapter 11 and Chapter 7 cases. His efforts have concentrated on leading negotiations with numerous senior-secured and unsecured creditors, focused on negotiated settlements in conjunction with recapitalization efforts. Mr. Boorom has transactional experience with the following companies: S.C. Johnson & Son, Inc., Northwest Airlines, NIBCO, Inc., Cummins Engine Company, FCR Inc., Racing Champions, Credit Acceptance Corporation and other numerous middle-market privately held companies.
In addition, Mr. Boorom has provided expert testimony on business valuations and marketability in U.S. Bankruptcy Court. Mr. Boorom is an active member of the Turnaround Management Association (TMA), Association for Investment Management and Research (AIMR), Association of Certified Turnaround Professionals (ACTP), INSOL International and the Seaplanes Pilot Association. Additionally, Mr. Boorom holds a private pilot’s certification for land and sea.
Mr. Boorom earned his Bachelor of Science degree in Finance from the Eli Broad School of Business at Michigan State University. Mr. Boorom is also a graduate of ABN AMRO North American Credit Training Program and has completed additional studies in accounting, international economics, financial engineering, law and strategic management.
Kyle O’Malley, Advisory Board Member
Kyle T. O’Malley is a Certified Insurance Counselor and Senior Consultant for Daly Merritt, Inc. a regional risk management firm headquartered in Wyandotte, Michigan. Prior to his current position with Daly Merritt, Mr. O’Malley was a Large Account Practice Team Leader and Vice President Client Executive for The Hylant Group, the nation’s 7th largest privately held insurance brokerage firm. Since 2005, Mr. O'Malley has been responsible for handling risk management services for numerous business types across the county and abroad. Mr. O'Malley began his professional business career in 1988 as a front line supervisor at JM Schneiders Inc., Canada's largest processed meat operation. In 1990, he moved to distribution and logistics management with Coca-Cola Canada. In 1992 he began work for Deloitte and Touche Canada as a public auditor and in 1994 he accepted a position with Penske Corporation and later immigrated to the United States with Penske to work in numerous management roles within Detroit Diesel Corporation.
In 2002, Mr. O'Malley left Penske Corp. and accepted a position as Vice President of Business Development with The Shane Group, a $100 million annual revenue holding company (and now one of the Company’s Portfolio Companies) based in Hillsdale Michigan, where he helped guide and build a subsidiary private equity and capital markets advisory firm. Mr. O'Malley currently provides consulting services to the Manager and to the Company, which is expected to evolve into a full-time position by the end of 2013.
Mr. O'Malley holds a graduate degree in Business & Finance and undergraduate degree in Economics, both from Wilfrid Laurier University in Waterloo, Ontario, Canada. Mr. O'Malley is married and lives with his wife and four children in Ann Arbor, Michigan.
Bill Donahue, Advisory Board Member
Rolf Berg, Advisory Board Member
Mr. Berg founded Infinitive, Inc, a manufacturing “job shop,” in 1979. During the mid 1980's Mr. Berg took on multiple products for large diesel engines, and until 2009, Mr. Berg supported an original equipment manufacturer, or OEM, as well as a large after-market. Mr. Berg is currently a supplier to Class 1 railroads and short lines both in the United States and abroad.
Mr. Berg’s interests and passions include aviation, aeronautics, photography and SCUBA, and he holds multiple ratings for fixed-wing land, sea and helicopter. Mr. Berg has been married to Barb Berg for 27 years. The Bergs have two grown children and two black labs.
Jennifer Spooner, Corporate Controller
Liz Dillay, Executive Assistant
Biological Mediation Systems
Glenn Rachak, President
Glenn Rachak has been employed with BMS since 1993. He began his career in the production facility assembling waste treatment systems and framing buildings. In the late 1990's Glenn was trained in solar system sizing and installations, later he would become production manager, then vice president. Eventually he was promoted to president and has been in that position for eight years. Along with the day to day operations, Glenn is still very involved with the development and design of the unique restrooms and buildings that BMS produces.