
Michael D. LeRoy
PROFILE
Mr. LeRoy began his career in 1970 with Price Waterhouse and became a Partner in the
Firm in 1982. He held management and technical positions in a career at the Firm
extending over nineteen years. During his career at Price Waterhouse, Mr. LeRoy
served a broad range of national and multi-national clients in many different industries
and regularly counseled senior management, audit committees and boards of directors
on public company matters, acquisitions and divestitures, financial structures and other
matters. In addition, he participated in numerous litigation consulting engagements.
Following his career at Price Waterhouse, Mr. LeRoy joined a client that was a private
merchant banking firm engaged in the purchase of niche companies in partnership with
the management of those companies. He then expanded his operating experience
when he became the COO and a principal in a small, rapidly growing manufacturing
company.
In 1994, Mr. LeRoy became vice president of corporate development for ZERO
Corporation, a NYSE company that served the electronics and telecommunications
industries as a leading designer, manufacturer and marketer of value-added, engineered
solutions to enclose, cool and carry electronic equipment. His responsibilities included
corporate-wide strategic planning, strategic marketing, search and completion of
acquisitions, joint ventures and other business relationships, implementation of
divestitures and the supervision of operations of a major division. During his tenure at
ZERO, the stock price increased 250%. The company was sold and its corporate office
was closed in 1999.
Subsequent to the sale of ZERO, Mr. LeRoy has been providing litigation support, both
as a consultant and an expert and has been assisting middle market companies with
investment banking and financial consulting/advisory services. In addition, he
participates on boards of directors for public, private and non-profit organizations.
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PROFESSIONAL HISTORY
Crown Analytic Expert
Los Angeles, CA
Principal 2010 to Present
Crown Analytic Expert provides litigation support services acting as both
consultants and experts. Crown Analytic Expert/Mr. LeRoy have participated in
numerous litigation consulting engagements which involved investigation,
analysis, participation in depositions and testimony and in assisting litigators with
data presentation for trial.
Crown Capital Advisors LLC
Los Angeles, CA
President 2000 to Present
Crown Capital Advisors has assisted management in preparing companies for
divestiture and represented private owners and subsidiaries of public companies
with divestitures. Crown Capital Advisors has also assisted public companies
and buy-out firms with acquisition strategies and the search for and acquisition of
target companies. In addition, Crown is also active in mergers and re-
capitalizations.
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ZERO Corporation
Los Angeles, CA
Vice President, Corporate Development 1994 to 1999
ZERO was a NYSE company that served the electronics and telecommunications industries as a leading designer, manufacturer and marketer of value-added, engineered solutions to enclose, cool and carry electronic equipment. Mr. LeRoy’s responsibilities included corporate-wide strategic planning, strategic marketing, search and completion of acquisitions, joint ventures and other business relationships, implementation of divestitures and the supervision of operations of a major division. Mr. LeRoy was instrumental in improving operations through strategic planning; reducing costs and expenses; increasing productivity; designing and implementing marketing strategies; directing acquisition analysis;
executing financing; creating and implementing financial and operating systems.
During his tenure at ZERO, strategic direction was redefined and focused, eight
acquisitions were successfully completed, one divestiture accomplished, 25% of
the stock repurchased, operating income increased by almost 70% and the stock
price increased by 250%. Strategic acquisitions significantly contributed to
increased sales and net income growth. ZERO was sold to Applied Power Inc.
and its corporate office was closed in 1999.
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Biner Ellison Packaging Systems, Inc.
Los Angeles, CA
Chief Operating Officer 1990 to 1994
Biner designed and manufactured machinery to fill liquids and to place screw
caps onto containers. Mr. LeRoy’s responsibilities included strategic planning,
manufacturing systems, finance/accounting, marketing and general
administration. While at Biner, sales more than tripled; losses turned into profits;
JIT and CAD/CAM were implemented; sales/marketing was restructured; a new
product line was introduced. A joint venture was formed in China and sales
distribution was implemented throughout Asia. Export sales increased from 10%
to over 40% of total sales.
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Huntington Holdings, Inc.
Los Angeles, CA
Managing Director 1989 to 1990
Huntington is a private merchant banking firm engaged in the purchase of niche
companies in partnership with the management of those companies. Huntington
owned or controlled ten companies with sales totaling approximately $250
million. Mr. LeRoy was responsible for financial analysis of acquisition
candidates, financial and operational data related to dispositions and refinancing
and relationships with the various banking institutions. He also acted as the Chief
Financial Officer of Huntington and of the ten portfolio companies.
During Mr. LeRoy’s tenure, three companies were purchased, one was sold and
one was refinanced. Debt was renegotiated at five other companies.
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Price Waterhouse
Los Angeles, CA
Partner
Audit Department 1970 to 1982
Entrepreneurial Services Group 1982 to 1989
Special Assignment -- Hong Kong 1977
Price Waterhouse (now PriceWaterhouseCoopers) is a “Big Four” international
accounting firm. He became a Partner in the Firm in 1982 and held management
and technical positions in a career at the Firm extending over nineteen years.
Mr. LeRoy participated in numerous litigation consulting engagements which
involved investigation, analysis and assisted litigators with data presentation. In
conjunction therewith, he spent in excess of 200 hours participating in
depositions and testimony. In addition, Mr. LeRoy was a member of the Los
Angeles office Technical Committee, a member of the Firm’s Investment
Company Group and a member of the Firm’s Entrepreneurial Services Group. He
served a broad range of national and multi-national clients in many different
industries and regularly counseled senior management, audit committees and
boards of directors on public company matters, acquisitions/divestitures, financial
structures and other matters. Mr. LeRoy participated in initial public offerings;
supervised acquisition reviews and directed development of comprehensive
financial reporting systems and planning and budgeting systems.
Mr. LeRoy had significant industry experience in the following industries: retail,
real estate, entertainment (including amusement parks), heavy and light
manufacturing (including metal stamping, fabrication, plastics and processing
equipment), broadcasting, investment management and related services, airline
equipment and services, and healthcare.
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EDUCATION
Master of Business Administration with area of emphasis in Finance,
UNIVERSITY OF SOUTHERN CALIFORNIA, 1970
Bachelor of Science in Business Administration in International Business and Finance,
UNIVERSITY OF SOUTHERN CALIFORNIA, 1969
PROFESSIONAL AFFILIATIONS
Member, Board of Trustees, Chairman of the Audit Committee and Audit Committee
Financial Expert and member of the Valuation Committee, Aspiriant Risk Managed
Global Equity Fund, Aspiriant Defensive Allocation Fund, Aspiriant Risk-Managed
Municipal Bond Fund and Aspiriant Risk-Managed Taxable Bond Fund
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Past member, Board of Directors and Chairman of the Board, The Rockport Company,
LLC (sold in December 2018)
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Past member, Board of Directors, Chairman of the Audit Committee, Compensation
Committee, Wedbush Bank (sold in May 2014)
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Past member, Board of Trustees, Chairman of the Audit Committee and Audit
Committee Financial Expert, Advisors Series Trust (14 mutual funds)
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Past member, Board of Trustees, Chairman of the Board and Chairman of the Audit
Committee, The Bjurman, Barry Funds (merged on May 1, 2009)
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Past Member, Board of Directors, Brown International Corporation
Member, Board of Directors, Treasurer, National Association of Corporate Directors,
Southern California Chapter
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Certified Public Accountant (retired)
Chartered Global Management Accountant
Certified Bank Director
Member, American Institute of Certified Public Accountants
Member, California Society of Certified Public Accountants
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Member, Economic Round Table of Los Angeles
Member, American Academy of Economic and Financial Experts
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COMMUNITY ACTIVITIES
Member, Board of Directors, President, The Valley Hunt Club, Pasadena
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Member, Board of Directors, President, Pasadena Wine and Food Society
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Retired member, Pasadena Tournament of Roses Association
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Past Member, Board of Visitors Advisory, Loyola Law School
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Past Member, USC School of Business Advancement Council
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Past Member, Board of Directors of Big Brothers of Los Angeles
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Past Member, Board of Directors of Kidspace Children’s Museum
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Past Member, Board of Directors, Hillsides Home for Children
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Past member, Board of Directors, Treasurer, Mater Dolorosa Retreat Center
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Eagle Scout
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