Owner and Partner
Mike is an executive management consultant with over 25 years of financial and executive leadership experience.
Along with being a Partner and Owner of Turning Point Management Advisors LLC, he currently serves as the Chief Operating and Chief Financial Officer of Equipoise Corporation d/b/a Boyer Trucks in Minneapolis, MN. He also serves as an Officer and minority owner of Centerline Tank and Trailer Manufacturing, Inc. in Long Prairie, MN. He is a member of the advancement committee of the Board of Trustees of the Academy of Holy Angels, a private parochial high school in Richfield, MN.
After graduating from the University of St. Thomas, St. Paul, MN with a B.A. degree in accounting in 1979, Mike started his career as a Staff Auditor at Arthur Andersen & Co, a big eight public accounting firm, in Des Moines, IA. He passed the CPA exam in 1981 and rose to Senior Auditor before leaving the firm in 1982.
In 1982, Mike joined Jostens, Inc., a Fortune 500, publicly held (NYSE JOS), international manufacturing company based in Minneapolis, MN as a Senior Internal Auditor. In 1984, Mike accepted an Assistant Controller role at Jostens Artex Manufacturing Division based in Overland Park, KS and held that position until early 1986.
In March 1986, Mike joined National Computer Systems, Inc., a $250 Million, publicly held (NASDAQ NLCS), software and information systems company based in Minneapolis, MN as Manager, Accounting & Financial Administration for the Education Group. Mike served in this role until 1989 when he accepted a promotion to Division Controller for a recently acquired education software business based in Mesa, AZ. In 1992, at the suggestion of senior leadership to pursue his goal of running a division within NCS, Mike made a career move into sales and marketing by accepting the role of Manager, Complementary Channels, a newly created position, responsible for the development and management of a national business partner program. Mike ran the business partner program for two years and exceeded the sales expectations set for the program in year one.
In April 1994, Mike followed his entrepreneurial instincts and made a career move accepting the CFO position with The Sled Dogs Company, a start-up manufacturer and distributor of snow skates for the newly created sport targeting the nearly 10 million inline skaters who did not participate in a winter sport. During his 3 and ½ year tenure, Mike successfully completed three private placements of equity and debt, post initial public offering (IPO), raising $5.5 million; restructured $1.8 million in creditor obligations to ensure continuing operations and negotiated a $2 million asset-based line of credit with Norwest Credit, Inc., (now Wells Fargo Business Credit).
In December 1997, Mike accepted the Vice President & Corporate Controller position with Health Fitness Corporation, a $40 million, publicly held (NASDAQ HFIT), preventive and rehabilitative healthcare company that managed Fortune 500 corporate campus fitness centers and owned over 20 physical therapy clinics. During his tenure, Mike participated in the successful completion of a $12.5 million credit facility and $3.3 million private placement of equity that allowed the company to pursue its aggressive growth plans through acquisition and was involved in the completion of two physical therapy clinic acquisitions.
In March 1999, Mike accepted the role as Vice President, CFO and Secretary to the Board of NETRADIO Corporation, a subsidiary of Navarre Corporation, and a startup Internet radio webcasting company delivering 120 channels of originally programmed music to over 3 million monthly unique listeners, the largest Internet radio audience as measured by Arbitron. Mike was hired to complete an initial public offering of the companys stock which was successfully completed in October 1999, raising $35 million in gross proceeds. In Mid-2001, Mike added the Chief Operating Officer role to his responsibilities.
In December 2003, Mike joined Distribution Dynamics, Inc., a $75 million, privately held, fastener distribution company that provided vendor-managed inventory services to large OEMÃs, as their Senior Vice President and CFO. The company was financially distressed and in need of a turnaround. Along with senior leadership, Mike successfully completed a Bankruptcy Chapter 11, section 363, sales of assets to Anixter International, an industry competitor, maximizing the value obtained for secured creditors and preserving the majority of the existing jobs.
In January 2005, Mike accepted the Vice President, CFO role for Homecrest/HC Holdings, LLC, a $50 million, privately held, family-owned (for over 50 years), manufacturer and marketer of outdoor furniture for the residential and contract markets. The company was financially distressed and in need of a turnaround and refinancing. In mid-2005, Mike led the successful Article 9 foreclosure and sale of the company assets to a new investor group, assisted in the formation and capitalization of a new entity, HC Holdings, LLC that began operations under the Homecrest brand in October 2005. Through this process, Mike was also able to eliminate $4.5 million in predecessor company fixed costs and the manufacturing floor bargaining unit (union) contract. In December 2007, Mike completed a successful sale of the assets of the company to a new investor group.
Mr. Wise is a member in good standing with the Turnaround Management Association, Enterprise Minnesota, Manufacturing Alliance, Minnesota Society of CPAs, American Truck Dealers Association and a past member of The Collaborative and The Collaborative CFO Work Group.
Mike has a passion for helping distressed companies turn the corner for success while preserving jobs and providing clients with strong and decisive leadership. Along with his Turning Point partner, Bob Silhacek, Turning Point Management Advisors has been awarded “Turnaround of the Year in 2012 for Centerline Tank and Trailer and recently was awarded the “Transaction of the Year in 2014 for Mansfield Castings in Ohio. These awards were presented by the Upper Midwest Turnaround Management Association.
- Senior Auditor, Arthur Andersen & Co, big eight public accounting firm focus in manufacturing, distribution, financial services
- Division Controller, Jostens, Inc., a publicly held, Fortune 500, international manufacturing company
- Division Controller and Manager, Complementary Channels, National Computer Systems, Inc., a $250 million, publicly held, software and information systems company
- CFO, Treasurer, Secretary, The Sled Dogs Company, a publicly held, startup sporting goods manufacturing and distribution company
- Vice President & Corporate Controller, Health Fitness Corporation, a $40 million, publicly held, preventive and rehabilitative healthcare company
- COO and CFO, NETRADIO Corporation, a publicly held, startup Internet radio webcasting company
- SVP and CFO, Distribution Dynamics, Inc., a $75 million, privately held, fastener distribution company
- CFO, Homecrest/HC Holdings LLC, a $50 million, privately held, outdoor furniture manufacturing and marketing company
- Founding partner and owner, Turning Point Management Advisors
- Held interim executive management roles, led financial/operational turnarounds and provided M&A advisory service to a number of manufacturing, distribution and service companies over the past 7 years
- Bachelor of Arts, Accounting, 1979, University of St. Thomas, St. Paul, MN
- Passed Uniform CPA Exam, 1981, State of Iowa
- Masters Business Administration, 1988, University of St. Thomas, St. Paul, MN
- Turnaround of the Year 2012 for Centerline Tank and Trailer by Upper Midwest TMA
- Transaction of the Year 2014 for Mansfield Castings in Ohio by Upper Midwest TMA
- Partner and Founding Owner of Turning Point Management Advisors, LLC 2009-Present
- Advancement committee member of the Board of Trustees, Academy of Holy Angels High School, 2010-present
- Officer, Centerline Tank and Trailer, Long Prairie, MN 2012-Present
- Owner, Team Two, Inc. 2007-2011
- Member of TMA (Turnaround Management Association)
- Member of Minnesota Society of CPAs
- Member Enterprise Minnesota
- Member Manufacturing Alliance
- Member ATD (American Truck Dealers Association)
- Member of the Collaborative and Collaborative CFO Work Group 1995-2007