Richard Augustine

Richard Augustine Email and Phone Number

Renewable energy exec-senior level finance & operating experience-developing, operating, financing(incl tax equity), M&A @ CFO Systems, LLC
Hartford, CT, US
Richard Augustine's Location
Greater Hartford, United States, United States
Richard Augustine's Contact Details

Richard Augustine work email

Richard Augustine personal email

n/a
About Richard Augustine

Operational, strategic and entrepreneurial minded senior level financial executive with cross-functional experience in finance, operations, financial reporting, treasury, cash management, tax equity financing, business development, acquisitions and restructurings. I have a proven track record of applying multi-discipline experience to develop and implement creative solutions to resolve problems and take advantage of opportunities. Problems are solutions waiting to happen . I am seeking opportunities to utilize by expertise to assist an organization in meeting it goals either as a member of its management team or its board of directors. Have the ability to balance day-to-day controllership responsibilities with long term strategic and executive requirements of a senior financial manager. My style is to provide steady, consistent and stable leadership thru challenging or turbulent times. I incorporate my playing and coaching sports background to facilitate individuals to work as a team. Public and private company experience. Includes SEC reporting, shareholder and investor communications and collaborating in the development and selling (road show participant) of a company sponsored Canadian Income Trust that raised over Cdn$149m. Have led four Chapter 11 proceedings including the restructuring of debt/equity, a 363 auction process and a liquidation. Expertise in financial reporting, audits and internal controls satisfies the requirements of an audit committee financial expert as defined in Section 406 and 407 of the Sarbanes-Oxley Act of 2002. My experience in renewable energy is supplemented with experience in other industries including real estate (development, construction and management), loan acquisitions, business services and the hospitality industry including golf courses. ski area (ran a golf course/ski area/condo development) and restaurants (managed a restaurant/bar for years and also owned one).

Richard Augustine's Current Company Details
CFO Systems, LLC

Cfo Systems, Llc

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Renewable energy exec-senior level finance & operating experience-developing, operating, financing(incl tax equity), M&A
Hartford, CT, US
Employees:
118
Richard Augustine Work Experience Details
  • Cfo Systems, Llc
    Cfo Systems, Llc
    Hartford, Ct, Us
  • Cfo Systems, Llc
    Director
    Cfo Systems, Llc Jan 2017 - Present
    Responsible for business development and the creation and implementation of client solutions for CFO Systems, LLC. CFO Systems is provider of interim, supplemental or fractional senior level financial, operational and HR services to public and private mid-market organizations throughout the United States. Services include, but are not limited to, the development and execution of financial strategies, the improvement of financial reporting processes, the management of the finance department, regulatory and compliance reporting, the development and implementation of reporting to support operations and strategic plans, turnarounds and restructurings, mergers, acquisitions and dispositions, financial forecasting, cash management, lender relations, debt management and capital sourcing. Industries include renewable energy, renewable fuels, construction, real estate, food and agribusiness, transportation, start-ups, gaming and healthcare. CFO Systems has been in existence since 2005 and was ranked #1,372 on INC magazine’s 2016 list of the top 5,000 fastest growing small and mid-sized companies in the US. Website: CFOSystemsllc.com
  • Noble Environmental Power, Llc
    Vice President Finance And Accounting/Cfo
    Noble Environmental Power, Llc Apr 2013 - 2016
    Senior financial executive for a renewable energy organization with 726 mws of installed wind generation capacity in 7 wind parks in New York and Texas. Responsible for all financial management including internal and external financial reporting, strategic and operational financial planning and execution, internal controls, financial analysis, tax and legal compliance and tax equity reporting and allocations including GAAP allocations utilizing Hypothetical Liquidation at Book Value ("HLBV"). Accomplishments include: - Restructured financial reporting system including the installation of a new ERP system. The installation included the design, creation and implementation of a new chart of accounts, new operational reports and reporting processes to support operations and strategic planning. - the development of historical trends to support predictive analysis and the development, implementation and monitoring of operating plans - the management of energy hedges and interest swaps including GAAP reporting - the restructuring of the budgeting process to provide for improved operational analytics, the development of KPIs and the implementation of a reforecasting processes - Utilized Chapter 11 proceedings to consolidate equity and debt and to preserve value of tax attributes (NOLs and tax credits) - the improvement of cash flows through the maximization of expense recoveries through the proper application of the terms of management contracts and financial agreements - the implementation of cash flow reporting as a supplement to GAAP. Improved financial and operational oversight and resource allocation decisions - the restructuring of the capital structure, debt and equity, of a windpark portfolio to preserve equity's value - Designed and developed project level, portfolio level and equity investment level valuation models to support financial analysis and the development and monitoring of operating and long term strategic plans
  • Core Management Advisors, Llc
    Founder
    Core Management Advisors, Llc Jun 2012 - Dec 2013
    Providing interim or supplemental senior level financial, operational and transactional services to companies and institutional clients. Services provided include strategic financial planning, financial analysis and modeling, the improvement of reporting processes, the development and implementation of cash flow management systems, acquisition and sell side due diligence, debt and equity financing, debt restructuring and the implementation of financial reporting processes to improve operations. Accomplishments through engagements to date include; - the development of long term financial plan to support organic and acquisition fueled growth. - Increased enterprise value by approximately 20% for a company looking to sell through the identification of non-recurring expenses included in recurring EBITDA which was the valuation driver - the development and preparation of seller's due diligence information and material for a light manufacturer. - a restructuring of a clients reporting processes to provide management with timely and accurate financial statements and the translation of those statements into operating information which could be utilized by management to adjust production operations - the development and implementation of annual budgeting and forecasting procedures - Improved financial reporting procedures to provide management with timely, accurate reports to support targeted and timely adjustments to operating procedures. - a reduction in cash expenses of approximately $20,000 per month resulting from negotiations with new and existing lenders.
  • Us Energy Systems, Inc
    Chief Accounting Officer And Chief Restructuring Officer
    Us Energy Systems, Inc Jan 2003 - Mar 2013
    CAO and then CRO for a publically-traded energy investment company with renewable and fossil fuel investments in the US, Canada, Sweden and the UK. Projects included biomass, LFG, geothermal, district heating/cooling and natural gas. Responsible for all financial management including treasury, budgeting, credit agreement management and financial reporting. Prepared and filed all SEC reports including Forms 10K and 10Q and the management of the annual audits.Collaborated on the structuring and marketing of a publically-traded Canadian Income fund. Developed valuation models, financial projections and marketing and due diligence materials. Insured that all information was auditable and consistent with historical results and contract terms. Participated as a presenter in the investor road show that raised Cdn $149m in the Canadian market. Participated in Director's and shareholders meetings. Due to the failure of a major investment in a UK natural gas project, the company filed for chapter 11 in the Southern District of NY. Was appointed the Chief Restructuring Office and reported directly to the Board of Directors. Coordinated with legal counsel and investment bankers in the development the Plan of Liquidation and appointed Plan Administrator by the Court. As Plan Administrator, was responsible for the execution of the court approved Plan of Liquidation and to monetize the estate's assets for the benefits of creditors and stakeholders. Managed the sales process for the sale of the ownership interests in USEB utilizing a Section 363 auction process under the supervision of the Bankruptcy Court. Developed and compiled, with investment bankers and counsel, the valuations, projections, due diligence presentation and marketing material utilized in the bidder presentations. Insured that all materials presented to bidders was consistent with past performance and with contract terms. Conducted all meetings with bidders and completed the sale for approximately $112m.
  • Biogas Energy Solutions, Llc (
    Chief Operating Officer/Chief Financial Officer
    Biogas Energy Solutions, Llc ("Bes") Mar 2009 - Jun 2012
    COO/CFO for a portfolio of landfill gas ("LFG") to energy projects operating throughout the United States with revenues of approx. $25m. This portfolio is the successor to U.S. Energy Biogas. Have operated this portfolio since 1996 and developed and constructed all of the projects in the portfolio. Responsibilities include the operation of all components of the renewable energy projects including the gas collection system and the energy plant. Most of the projects utilize the LFG to produce electricity while a few sell the gas as a replacement of natural gas in commercial boilers. Developed strategic plans to maximize the value of the existing assets through the alternative utilization of outputs and to expand the application of the organization's skills to new markets. Have analyzed the conversion of LFG to high Btu gas and vehicle fuel and the installation of solar projects on landfills. Experienced in the monetization of intangible products produced by utilizing LFG as a fuel including Renewable Energy Credits ("RECs"), RINs, carbon credits, Section 29 tax credits, PTCs and Section 1603 capital grants. Utilized a Section 363 auction process under the supervision of the Bankruptcy Court of the Southern District of New York to facilitate the acquisition of the portfolio. The Section 363 auction process was utilized to cleanse the acquired entities of all unknown contingent liabilities.Was responsible for all financial and regulatory reporting to owners, lenders, tax and regulatory authorities. Was also responsible for maintaining compliance with all contracts and agreements associated with these projects including all credit and financing agreements. Developed and implemented a daily production dispatch program to absorb the economic effects of large swings in the energy day-ahead market. This program would suspend production when market rates were insufficient to cover variable operating costs thereby limiting the effects of market fluctuations on EBITDA.
  • Us Energy Biogas Corporation
    President
    Us Energy Biogas Corporation Sep 1996 - Mar 2009
    Senior financial and operations officer for privately owned (1996-2001) then publically owned (2001-2009) renewable energy portfolio with annual revenues of approximately $20m. Responsible for all financial management and project operations including treasury, financial reporting, personnel, contract compliance, budgeting, project operations, expense management and capital plans and equipment maintenance. Development efforts during the period from 1998 to 2001 added 11 projects to the portfolio and increased EBITDA by approximately 200%. Of the 11 projects, 8 were constructed under newly negotiated contracts and 3 were acquired. Obtained and managed construction and permanent financing for the expansion through a combination of third party financing agreements and the syndication of intangible projects related to the operations of the projects.Collaborated with investment banker on the sale of the then privately held equity to the publically-traded entity. Developed valuation models and marketing and due diligence material.Transformed organizational culture from a syndication culture driven by one-time fees to an operational culture focused on production and the costs of production. The evolution of the culture resulting in a reduction of SG&A expenses of approximately $1.5m per year through a reduction in supervisory staffing. In addition, the change resulted in an increase in plant on-line time and a reduction of operating costs per unit of production. Managed all relationships with lenders including construction draws, standardized reporting, covenant adherence and other non-standard issues. Utilized a Chapter 11 proceeding in the Southern District of NY to restructure existing debt eliminating approximately $60m of principal on a total debt of approximately $165m and reducing debt to approximately $80m through the utilization of low yielding cash reserves. Negotiated and closed on exit financing utilized to satisfy the re-structured debt obligations.
  • Lexington Partners, Llc
    Asset Manager/Workouts
    Lexington Partners, Llc Jan 1994 - Sep 1996
    New York, Ny, Us
    Real estate development and workout firm formed to take advantage of the banking crisis. The organization acquired distressed assets including delinquent loans and real estate assets from lending institutions and developed and implemented workout strategies. In addition, performed forensic accounting analysis on behalf of the lending institutions to assist them in determining the real value of the assets in their portfolio, to detect potential areas of fraud and misappropriation of funds and to support the development of workout strategies.
  • Rja Associates, Llc
    Principal
    Rja Associates, Llc Jan 1992 - Jan 1994
    Provided consulting and workout services to various industries including a ski area and golf course, a condo development surrounding the ski area and golf course and restaurants. Led ski area through a chapter 11 process to facilitate its sale to a larger competitor to insure its continued operations. The maintenance of operations of the ski area preserved the value of the condominium development. Was engaged by the owner of a financial distressed, downtown Hartford CT restaurant/entertainment entity to facilitate a restructuring of operations. Negotiated with creditors, including the IRS, to maintain on-going operations Instituted significant changes to operations and internal controls to eliminate cash and product leakage. Restructured the entity's legal structure to protect owner's interests. Successfully completed restructuring and maintain the value of the asset for the owner.
  • Rwk Associates, Inc
    Cfo
    Rwk Associates, Inc Jan 1989 - Jan 1992
    CFO for a business equipment sales company that had an investment division investing in various real estate ventures. Was responsible for the financial operations of the equipment sales division including inventory management, treasury, floor plan financings and consistent customer service. In the investment division, developed through new construction and building renovations two resort hotels in New England, a combined retail/residential building and the development and operation of a sporting equipment retail operation located at a New England ski resort. Oversaw the acquisition and operations of multiple Headquarters Companies (shared services office space and services) in Florida. Renovated an unused elementary school to serve as the home office with the building housing corporate offices and warehouse and repair space for the business equipment sales division. Developed and implemented reporting, internal control and management procedures to support growth.
  • The Richard Roberts Group
    Vice President Finance And Administration
    The Richard Roberts Group Jan 1978 - 1989
    Fourth employee hired by a real estate developer, syndicator and property management firm. Started as a staff accountant and was promoted through the Treasurer position to the Vice President of Finance and Administration. Participated in growth of business with an ultimate increase of staff to approximately 300 employees nationwide. Developed and implemented financial and management systems, procedures and processes to support and facilitate growth in both the number of syndications and the size of the operating portfolio under management. Participated in the acquisition, syndication and day to day management of various investments including commercial and multi-family residential real estate, hotels, restaurants, golf courses and other investments. Assisted in the production of marketing material utilized in investor presentation packages including material required to satisfy state level Blue Sky investment solicitation requirements. Also participated in the development of the new developments including a high-end golf course residential development in Florida and the conversion of residential apartments into condominiums. During the late 1980s when Congress began restructuring various tax laws particularly related to depreciation, the syndication business became stagnant which resulted in a significant reduction in real estate values and the desire for syndication investments. In response to this downturn and subsequent changes in demand from various lender's, the company needed to be restructured to significantly reduce costs. Managed the restructuring of the organization which ultimately reduced staffing levels down to approximately 60 people. Developed and implementing restructuring plans to restructure existing debt and to maintain value in the investments.

Richard Augustine Skills

Financial Analysis Budgets Financial Modeling Cash Flow Business Strategy Contract Management New Business Development Forecasting Strategic Planning Risk Management Finance Mergers And Acquisitions Due Diligence Management Cash Flow Forecasting Microsoft Excel Strategy Renewable Energy Microsoft Office Treasury Management Microsoft Word Board Of Directors Budgeting Asset Mergers Mergers And Acquisitions Bankruptcy Restructurings Asset Valuations Public And Private Company Accounting Organizational Restructurings Managing Credit Agreements Owners/shareholder Communications Entity Restructuring Cash Flow Management Restructuring Accounting Valuation Financial Reporting

Richard Augustine Education Details

  • University Of Connecticut School Of Business
    University Of Connecticut School Of Business
    Mba/Finance
  • College Of The Holy Cross
    College Of The Holy Cross
    Economics And Accounting
  • Xavier High School, Middletown, Ct
    Xavier High School, Middletown, Ct
    College Prep

Frequently Asked Questions about Richard Augustine

What company does Richard Augustine work for?

Richard Augustine works for Cfo Systems, Llc

What is Richard Augustine's role at the current company?

Richard Augustine's current role is Renewable energy exec-senior level finance & operating experience-developing, operating, financing(incl tax equity), M&A.

What is Richard Augustine's email address?

Richard Augustine's email address is au****@****wer.com

What schools did Richard Augustine attend?

Richard Augustine attended University Of Connecticut School Of Business, College Of The Holy Cross, Xavier High School, Middletown, Ct.

What skills is Richard Augustine known for?

Richard Augustine has skills like Financial Analysis, Budgets, Financial Modeling, Cash Flow, Business Strategy, Contract Management, New Business Development, Forecasting, Strategic Planning, Risk Management, Finance, Mergers And Acquisitions.

Who are Richard Augustine's colleagues?

Richard Augustine's colleagues are David Clute, Matt Fuller, Mam - Leadership, Kirk Wood, Aaron Watterson, Bashair A., Susan Post, Jay Mathewson.

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