Spencer is an Associate with experience in financial analysis, due diligence, data modeling, entity valuations, pricing, restructurings, loan workouts, securitizations, bond and loan related collateralizations, pitch presentations, and M&A transactions.
Spencer assisted a major restaurant franchise with their divestiture of more than 180 corporate stores. He prepared pricing valuations for store packages using triangulation between multiples, DCFs, and leveraged financing outcomes. He completed pitch presentations, facilitated purchase and sales agreements, and managed the due diligence process throughout the deal.
Spencer advised a company on its acquisition of over 130 Quick Service Restaurants. In this transaction, he prepared an LBO model to determine the purchase price, the IRR, the NPV, and the cash on cash returns. Spencer further advised the financial sponsor of the deal by managing due diligence and completing various financial models.
Spencer also assisted in the restructuring of a distressed franchisee with sales of over $50 million. He assisted with negotiations between the client, bank, franchisor, and landlords. He created cash flow models to track short and intermediate cash requirements of the client. He helped draft and execute a Financial Assistance Agreement between creditors and the client. Spencer also completed valuations and pitch books for divestitures of non-core assets and pitched sale leasebacks, ultimately fulfilling the plans of the corporate workout.
Prior to joining Mackinac Partners, Spencer served as an Investment Banking Analyst in Goldman Sachs’ Investment Banking Division – Real Estate Financing Group. While at Goldman, he created and issued commercial mortgage-backed securities. Spencer assisted in the publication of numerous Structural and Collateral Term Sheets which were used to market the deals. He structured collateral pools for REMICs (real estate mortgage investment conduits) in order to optimize the pricing of bonds. He advised various hedge funds, rating agencies, and underwriters in order to bring securities to market. During his time at Goldman, Spencer issued over $21 billion in CMBS products.
Prior to Goldman Sachs, Spencer served as an Investment Banking Analyst for Peak Franchise Capital in Dallas, where he developed financial models for corporate valuations, capital sourcing, corporate restructurings, and M&A transactions.
Spencer earned a Bachelor of Business Administration in Finance, a Bachelor of Arts in Economics, and a Bachelor of Arts in Public Policy from Southern Methodist University in Dallas. He has held Series 79 and Series 63 FINRA licenses. He is also a Certified Insolvency and Restructuring Advisor (CIRA).View Other Professionals