Mackinac Partners

Jeffrey Lucas

Managing Director


Jeffrey Lucas

Jeffrey Lucas

Managing Director

Jeff has over 25 years of experience as a senior Financial and Operations executive leading public and private global companies to improve financial performance, strengthen capital structure, streamline operations and penetrate new markets. He has served as a board member and in senior advisory roles for companies across the technology, industrial, manufacturing and distribution sectors.  Operationally, his emphasis is on developing and executing corporate strategy, improving financial and operational performance, building effective reporting systems and instilling management accountability.  Jeff has raised debt and equity capital, negotiated credit facilities, managed companies in reorganization and served an integral role in the acquisition, integration and disposition of a variety of businesses.

Jeff recently served as Interim CFO for a leading designer and manufacturer of battery power systems for industrial, medical and transportation/supply chain companies. Jeff worked closely with the PE-sponsor to implement financial processes and practices, establish a working capital facility and fold in a separate portfolio company.

Jeff was President and CFO for eMagin corporation, a publicly traded (NYSE American) developer and manufacturer of microdisplays used in military and commercial applications.  He expanded the Company’s focus from technology advancement to product commercialization, driving consistent revenue growth and restoring EBITDA profitability to the Company after several years of losses.  As CFO, Jeff raised over $45 million through multiple public S-1 and shelf registration offerings, implemented an investor relations program to broad the investor base established a working capital debt facility and executed a cost savings program that reduced annual expenses by over $2.5 million.

Jeff also served as CFO, Chief Accounting Officer and Board member for Transfreight Companies, a $300 million lean logistics (3PL) company managing the inbound supply chain for the major auto manufacturers.  Jeff partnered with the commercial team to introduce structured pricing models, tighter cost analyses and expanded service offerings that drove $31 million revenue growth over 15 months. He worked closely in partnership with Transfreight’s Japanese parent to lead to the successful sale of the Company to Penske Truck Leasing.

Jeff’s background includes the role of CFO of a $500 million industrial manufacturing and distribution company formed from the merger of three separate entities with operations throughout the Americas, Central and Western Europe and Asia.   He implemented global financial reporting and internal controls to bring the Company into compliance with U.S. GAAP and SEC reporting requirements.  He co-orchestrated a turnaround resulting in $14 million operating expense reduction, $40 million debt paydown and the successful renegotiation of a $160 million credit agreement.  In response to the imposition of onerous importation duties, he helped lead the strategic breakup and successful sale of the Company in multiple 363 transactions under Chapter 11.

Jeff also served as the CFO of DS Waters of America, an $800 million beverage water distribution company with operations throughout the United States.  He was brought on board to improve relations and reestablish credibility with the Company’s debt syndicate, implement financial practices and controls to improve working capital and to facilitate the sale of the Company to a private equity firm.

Jeff also served as CFO for Robotic Vision Systems Inc., a publicly traded (NASDAQ) developer of machine vision systems and semiconductor inspection equipment.  He worked with the Chief Restructuring Officer to navigate the Company through Chapter 11 and 7 proceedings and the eventual sale of the company to strategic acquirers.

Jeff served as the CFO of Micronetworks Corporation, a PE-sponsored manufacturer of precision components for the telecommunications and defense electronics markets where he completed and integrated multiple acquisitions, consolidated the administrative organization and implemented an enterprise resource planning (ERP) system.  During his tenure with the Company revenues grew 400%, leading to the purchase by a strategic buyer and yielding investors 15X return

Jeff’s background includes high yield fixed income investment banking, buy-side money management and public accounting (PricewaterhouseCoopers).

Jeff holds an MBA from Harvard Business School, a BA magna cum laude in Economics from Tufts University and studied at the London School of Economics.

Jeff is a Certified Public Accountant and a Chartered Financial Analyst. He was a Board member of the Boston chapters of the Association for Corporate Growth and Financial Executives International and was President and Board member of the Harvard Business School Association of Boston.

 

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