Michael Lane
Chief Strategy Officer, Formerra
- Role
- Chief Strategy Officer (CSO) at Formerra
- Location
- Cleveland, OH, US
- LinkedIn followers
- 500 followers
Experience
Chief Strategy Officer (CSO)
Nov 2022 — Present · Cleveland, OH, US
Lead and execute strategic initiatives for Formerra, a ~$1.5B revenue and ~$100M EBITDA (latest public information) private equity backed company. Formerra is the carve out of Avient’s Distribution segment, following its sale to HIG Capital in November 2022. The company is global distributor of polymer and material solutions to the world’s leading brand owners and manufacturers.• Member of Formerra’s executive leadership team, partnering with private equity deal team to execute growth plan for carve out business.• Lead M&A process including deal sourcing, due diligence, and integration. Successfully executed and integrated two acquisitions to support international growth and material expansion objectives (located in Dublin, Ireland and Mexico City, Mexico)• Champion investments in digital capabilities and systems automation. Lead Digital team to build and develop industry leading e-commerce platform, providing customers with 24/7 access to key order details and online ordering capabilities.• Implemented commercial excellence program to re-invigorate commercial execution. Defined commercial structure, resource allocation, and channel alignment, ensuring proper account coverage in a cost-efficient manner.• Collaborated with banking partners and Distribution leadership team to execute sale process of Avient’s Distribution business. Presented business overview and growth plans to potential buyers. Contributed to due diligence process and partnered with HIG Capital deal team to close deal on tight timeline.
Education
University of Michigan - Stephen M. Ross School of Business
MBA, Finance
2007 — 2009
University of Notre Dame
BA, Economics
2001 — 2004
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