Background
BS, US Military Academy
MBA, Harvard University
Key experience
Corporate Finance
Financial Planning
Don Demetz joined Porter, White & Company in 2002 and is concentrating his efforts in the area of corporate finance services. Corporate finance services include advising clients on raising debt and equity financing, general business planning, project finance and mergers and acquisitions. Don brings to the firm's small and middle market clients extensive experience in financial transactions and corporate planning gained with major domestic and international companies.
Corporate Restructuring and Bankruptcy:In recent years, Don has focused on assisting clients in financial
distress. Acting through PWCO Services, Inc., a Porter, White & Company affiliate, Don has served as intermediary in
financial reorganizations. In the Birmingham Steel Corporation Chapter 11 reorganization, Don provided liquidating
trustee and distributions agent services. In this role, he made distributions to various claimant groups, resolved
disputed claims and administered the wind-down activities of the company, vigorously pursuing various vendor, insurance
and tax refunds. In total, over $65 million in distributions were made to the various claimants in a timely manner.
In another case, Don served as collateral agent for a bank group, taking a security interest in pledged assets and serving
as an intermediary between the bank group and the borrower.
Don served as acting chief financial officer for North American Bus Industries (NABI) during its financial restructuring
and sale. NABI is one of the largest manufacturers of municipal buses in the U.S. Under Don's leadership, NABI exceeded
its financial performance commitments to its bank group while meeting its budgeted delivery commitments to some of the
nation's largest municipal transit authorities, including Los Angeles, Cleveland and Miami. By reducing working capital
requirements, the company was able to continue its manufacturing operations without additional bank support until a buyer
was located and the sale was closed.
Don has also been asked to step in as interim CFO for a financial services company when possible financial fraud was
discovered. Through close monitoring of the company's cash flow and lending operations, he gave the bank group sufficient
confidence to continue their support until the company could be sold, thus providing the banks an opportunity to maximize
their recovery.
Middle East Experience: Prior to joining Porter, White, Don worked
in the Middle East as corporate treasurer for large publicly held companies in
Kuwait and Saudi Arabia. While in the Middle East, he was responsible for completing
a broad array of financings. These included syndicated bank deals, asset-backed loans,
bond offerings, an equity offering and Islamic financing (financing structured
in accordance with the precepts of the Koran). An important component of
successful deal execution was developing and maintaining close relationships
with a large number of regional and international banks. Don's other responsibilities
as treasurer included cash flow forecasting, developing long-range financing plans
and closely managing cash flow and working capital. In particular, the Saudi Arabian
manufacturing company where Don worked required extensive efforts to restructure
the balance sheet and align costs with competitive realities.
Corporate Finance: Don also worked for many years at Sonat Inc., a
$3 billion energy company which subsequently merged with El Paso Corp. In the
latter part of his Sonat tenure, Don worked in the corporate treasury office
as director of treasury services. In this role he planned and coordinated seven
long-term financings for over $700 million. These financings included public
offerings, private placements and bank financings. Don also maintained relationships
with the Company's 18-bank group that provided $770 million in credit commitments. He
helped monitor Sonat's financial exposure and developed risk management plans for
commodity swaps and foreign exchange. Another area of responsibility while in
Sonat's treasurey department was financial communications and investor relations.
Don helped prepare and deliver presentations to investment analysts and rating
agencies that explained the Company's financial and operating performance as well
as its future business plans.
Financial Planning: Prior to joining Sonat's treasury department, Don
worked in corporate planning both for the parent company as well as for two
oil service subsidiaries. In this role he analyzed numerous acquisition and
investment opportunities from both a financial and strategic perspective. He
also conducted market studies to support the company's business planning. One
major initiative resulted in the implementation of a $400 million deepwater
drilling rig acquisition program.
Don graduated from the United States Military Academy in 1974 and served on
active duty for five years in the United States and Germany. He was active in the
U.S. Army Reserve until retiring in 2002. Don received his MBA from Harvard
Business School in 1981.