Month: October 2015

ACG Boston Appoints Two New Members to Board of Directors

BOSTON, MA – October 5, 2015 – ACG Boston, the Boston Chapter of the Association for Corporate Growth (ACG) announced today that the ACG Boston board has elected two new members to its Board of Directors. The new board members include Lynn Sommer, Senior Director, Cabrillo Advisors, and Rudy Scarito, Founder & President, RS Finance & Consulting, LLC .

ACG Boston serves over 500 Boston members who are directly involved in M&A transactions – including private equity investors, intermediaries, corporate development professionals, lenders and service providers – and is dedicated to helping middle-market M&A professionals build and maintain trusted and productive relationships through membership and event opportunities.

“ACG Boston has always been committed to supporting the New England dealmaking community and by continuing to add talented and experienced representatives from our core deal making constituencies will ensure that ACG Boston remains relevant and responsive to the changing needs of its core members,” said Peter Alternative, CEO and President, ACG Boston. “The backgrounds and personal experiences of our new board members will allow them to have an immediate impact and help shape the direction of our organization.”

Background –ACG Boston’s New Board Members

LynnSommer_150x150Lynn Sommer, Cabrillo Advisors
Lynn Sommer has more than 15 years of valuation and transaction advisory service experience with both public and private companies, providing fairness and solvency opinions, strategic alternatives analyses, and valuations for a variety of purposes including tax and financial reporting.

Prior to joining Cabrillo Advisors, Ms. Sommer’s valuation and advisory experience spanned the Big 4 and Houlihan Lokey. In addition, she was most recently a Senior Director at Alvarez & Marsal in New York, where she was an integral senior member of the firm’s transaction opinion services practice.

Ms. Sommer earned a Bachelor’s Degree in Business Administration in Economics from Colgate University and an MBA in Finance and Accounting from New York University’s Stern School of Business.

Ms. Sommer is a frequent speaker on valuation topics and has chaired several committees for and served on the Board of Directors of the Association for Corporate Growth in Los Angeles.

RudyScarito_150x150Francesca (“Rudy”) Scarito, RS Finance & Consulting LLC
Ms. Scarito has been an investment banker for over 20 years, working in both global, full-service firms as well as smaller, regional firms focused on middle-market companies. She founded RS Finance & Consulting, LLC in April 2009, and specializes in advising corporate clients on mergers, acquisitions, capital raising and corporate and financial strategy.

Ms. Scarito began her career at Lehman Brothers in New York in the firm’s Mergers and Acquisitions department. At Lehman Brothers and at subsequent firms Ms. Scarito represented a variety of corporate clients in the sale of their companies. She also assisted corporate buyers in identifying, evaluating and pursuing acquisition targets. Later in her tenure at Lehman Brothers, Ms. Scarito worked in Equity Capital Markets and Syndicate, where she completed over $9 billion of initial public offerings of equity and convertible securities.

Following her experience at Lehman Brothers, Ms. Scarito moved to Goldman Sachs Asset Management where she gained additional public equity capital markets experience. In her position as Portfolio Analyst, Ms. Scarito identified, analyzed and recommended public company investment opportunities for GSAM’s equity portfolios.

After gaining experience on Wall Street, Ms. Scarito transitioned to the middle market to work with smaller, owner-operated companies. During her tenure in the middle market, Ms. Scarito managed the Private Capital groups of Tucker Anthony, SunTrust Robinson Humphrey and Legacy Partners Group. Ms. Scarito has extensive experience originating, structuring and negotiating private placements of equity and debt.

Ms. Scarito is a member of the Board of Directors of Industrial Services of America, Inc. (NASDAQ: IDSA), a publicly traded scrap metal recycler and processor, and Fresh Truck, Inc., a non-profit, mobile green grocer that increases access to healthy foods within low-income Boston neighborhoods. Ms. Scarito previously served on the Board of Directors of Ambient Corporation (NASDAQ: AMBT), a publicly traded networking communications and technology company, and Material Sampling Technologies, LLC, a private recycler of precious metals.

Ms. Scarito has served as an expert witness on business valuations and on capital markets matters. Ms. Scarito holds her Series 7, 24, 63 and 79 securities licenses. She is a registered principal with M&A Securities Group, Inc., member FINRA and SIPC. M&A Securities Group, Inc. and RS Finance & Consulting, LLC are not affiliated. Ms. Scarito graduated from Dartmouth College, cum laude, and earned an MBA from Harvard Business School.

Featured Member: Lynn Sommer

LynnSommer_150x150

Lynn Haddad Sommer, Senior Director, Cabrillo Advisors

How did you end up in your line of business?

After graduating from Colgate University with honors in economics, I was unclear regarding what I wanted to be when I grew up. I completed a career questionnaire that asked what careers I could picture myself going into and I checked off accounting because most of the adults I knew were accountants. I was fortunate to join Price Waterhouse in audit, where I gained an excellent mix of accounting and professional skills. I was curious about the valuation group and reached out to them. I interviewed, secured a position and launched my valuation career. I am now a Senior Director at Cabrillo Advisors LLC, a national M&A and valuation advisory firm. At Cabrillo, we have a great team of Big Four and investment banking alumni providing sophisticated advisory services to public and private companies.

How did you first get involved with ACG/ACG Boston?

One of the Managing Directors at Houlihan Lokey approached me and asked if I would help write a case study for the ACG Cup, an investment banking competition for MBA students. He invited me to attend an ACG meeting where several industry professionals walked through the case study. The attendees’ professionalism and focus on networking made a strong impression on me. As a result, I became a member and then joined a committee. I soon learned that joining a committee was a deeper way to network – a way to truly get to know people and connect with them. I served on a national committee as well as the ACG LA Board before relocating to Boston, where I now serve on the ACG Boston Board.

What’s the best advice you’ve ever received?

The former head of the PwC valuation group, Jim Dezart, told me to seek out people that I wanted to emulate and work with them. He told me to look around and see who was successful in what I was trying to accomplish. I have always heard that you should hire people that are smarter than you, and this advice from Jim took it one step further for me. Surrounding yourself with people who challenge you and whose values and capabilities you respect is paramount, even if it takes you outside your comfort zone.

What is something people don’t know about you?

On the personal front, I have completed a marathon and a sprint triathlon and I am certified to teach yoga and spinning. On the professional front, I founded a women’s networking group, the Magnolia Ladies, which consists of an impressive group of women professionals from law, finance and other fields. Our events range from happy hours and unique private events to supporting causes of significance. The group started in Los Angeles and we have since added San Francisco, New York and Boston chapters.

What is your most satisfying professional accomplishment?

I am the most satisfied by the mentoring that I have been able to do over the course of my career. I have had many mentors and guides that have helped me along the way and I love to pay it forward. I enjoy mentoring those who work with me as well as job seekers. I seem to have a particular affinity for helping people find jobs. I enjoy seeing my former reports rise and grow in their careers. It’s very satisfying to have played some part in the growth and success of others.

What is the best vacation you’ve ever had?

When I was younger, my father and I took a five day whitewater rafting trip down the Colorado River. I will always remember this as the week that I really got to know him as a person and saw him interact in a different way than as a parent. I saw and learned what had led to so much of his success. He led and encouraged people, took charge even though he wasn’t in charge, made people comfortable and treated everyone kindly. I saw a microcosm of his world and learned so much that I still apply in everyday life. I learned from him that people can take business seriously but still be full of life. A trip down the Colorado River is also incredibly fun and I highly recommend it!