Jonathan F. Foster

Current Capital Partners LLC

About Jonathan F. Foster

Jonathan F. Foster is the founder and a managing director of Current Capital Partners LLC. Jon has some 30 years of experience with high quality financial services firms and a unique perspective as an investment banker, corporate director and private equity investor focusing primarily on industrial and services companies.

He has served on more than 25 boards ranging from small private companies to distressed companies both in and out of bankruptcy to Fortune 500 companies. As an expert witness in major litigation, Jon has filed numerous reports, been deposed many times and testified in court typically on mergers and acquisitions, valuation and governance issues; he has worked with leading law firms on behalf of major companies and investment firms.

Jon earned his BBA in Accounting from Emory University in 1984 followed by his Msc, Accounting and Finance from The London School of Economics and Political Science in 1985. Soon thereafter, he joined Lazard where he spent more than ten years, ultimately becoming a Managing Director. At Lazard, Jon worked on a wide range of industrial and services mergers and acquisitions, restructurings and financing transactions.

After his time at Lazard, he went on to be the Executive Vice President, Chief Operating Officer, and Chief Financial Officer for toysrus.com where he played a key role in hiring the senior team, raising $60 million of venture capital, growing revenues nearly four times in one year and initiating and driving the completion of the first outsourcing transaction with Amazon.com. Thereafter, he was a Managing Director at Cypress Group, a middle market private equity firm where he focused on industrial companies. He later was Executive Vice President of Finance for Revolution Living, owned by Steve Case, the founder of AOL, where he helped to lead the consumer and transportation efforts. During his tenure with Revolution Living, Jon played a leadership role in active portfolio management as well as the sourcing and execution of new investments.

Jon transitioned to being Managing Director and Co-Head of Diversified Industrials at Wachovia Securities (later acquired by Wells Fargo) in 2007 where he worked primarily with companies in capital goods and business services. He was a member of the Client Executive Team that advised senior management on initiatives to develop further client business.

In 2008, Jon founded Current Capital Partners which is a mergers and acquisitions advisory, corporate management services and private equity investing firm that helps to create value primarily in middle market and smaller companies in the industrial and services industries. The mergers and acquisitions advisory effort provides high quality financial advisory services — including ideas, buy-side and sell-side execution, strategic and capital structure reviews and related services – for corporate and investment firm clients seeking an independent perspective and senior attention. Mergers and acquisitions advisory services, and related products and securities services, are provided by Current Capital Partners’ affiliate, Current Capital Securities LLC, a broker-dealer and member of FINRA and SIPC. In the management services effort, firm professionals help manage investments, sit on Boards of Directors and provide related consulting services for other investors and financial institutions; provide Chief Restructuring Officer services; and offer advice and expert witness services in complex corporate litigation. The private equity investing business brings an integrated operating, finance and investment approach.

Jon is on the Boards of Directors of New York Stock Exchange companies Masonite Inc., a manufacturer of residential and commercial doors; Lear Corporation, a supplier of automotive seating and electrical distribution systems; Berry Global Group, Inc., a manufacturer and marketer of plastic consumer packaging and engineered materials; and Five Point, a developer of mixed use communities in California. He has been and continues to be on the boards of numerous private companies, including those involved in restructurings such as Sabine Oil & Gas, Chassix, Toys R Us and Harley Marine Services.

Among other business related activities, Jon was named to the National Association of Corporate Directors 2015 Directorship 100 List. He has spoken, written and been quoted widely on mergers and acquisitions, finance and governance issues and has lectured at various universities.

For more information on Jon’s professional perspectives and thoughts, please check back often for recent updates.

Board Memberships

Current and Prior Board Memberships
  • Five Point Holdings, the leading developer of planned communities in California traded on the NYSE 

  • Berry Global Group, Inc., a global manufacturer of plastic packaging and engineered materials traded on the NYSE

  • Lear Corp., a global supplier of automotive seating and electrical distribution systems traded on the NYSE

  • Masonite International Corp., a leading manufacturer of residential and commercial doors traded on the NYSE  

  • Craftworks LLC, the owner and operator of Old Chicago, Logan’s and other restaurant brands owned by Centerbridge 

  • Harley Marine Services, Inc., a leading marine transportation company owned by its Founder / CEO and McQuarie 

  • Wok Parent / P.F. Chang’s, the owner and operator of P.F. Chang’s and Pei Wei restaurants owned by Centerbridge

  • Appvion Holding Corp., a producer of thermal, carbonless and other papers controlled by Franklin Templeton

  • Wayne Real Estate Parent Company, LLC, a real estate company owned by Toys “R” Us 

  • Dayco, a manufacturer of engine products, drive systems and services owned by Oaktree, Anchorage, TPG and others 

  • Rimstock Holdings plc, leading manufacturer of automotive wheels in the U.K. owned by Safanad and Current Capital 

  • GenOn Energy, a wholesale power generation company owned by NRG Energy which is traded on the NYSE 

  • Chassix Holdings, Inc., an automotive supplier of precision casting and machining solutions owned by Oaktree, Cerberus and others 

  • Urban Lending Solutions, a mortgage services company privately owned

  • Pinnacle Holdco S.À.R.L. (Paradigm), the largest independent software firm for the oil and gas industry owned by Apax            

  • Neo Cayman Holdings Ltd., a rare earth materials company controlled by Oaktree  

  • AFGlobal Corp., a manufacturer of engineered products primarily for the oil and gas industry owned by First Reserve             

  • Chemtura Corp., a global specialty chemicals company traded on the NYSE 

  • Vertellus Specialties Inc., a specialty chemicals company owned by Wind Point Partners 

  • Sabine Oil & Gas Corporation, oil and gas exploration and production company traded on the OTC Market 

  • Tompkins Inc., a supply chain solutions company owned by management and GSO

  • Contech Engineered Solutions, a site solutions company owned by investment funds led by Anchorage and Littlejohn

  • TI Fluid Systems Limited, a global automotive fluid storage company owned by various investment funds led by Anchorage, Monarch and Oaktree 

  • Jones & Frank, a distributor of fuel and fuel handling systems owned by MidOcean Partners

  • Stackpole International, a manufacturer of automotive pumps and powdered metal components acquired by The Sterling Group and Current Capital and later sold to Crestview Partners

  • Smurfit-Stone Container Corp., a leading containerboard and corrugated packaging producer traded on the NYSE

Press

Selected Publications, Presentations and Comments

 

  • Panelist on “The Board’s Critical Role in a Frothy M&A Market” at FT-ODX Outstanding Directors Exchange, New York City, November 13, 2018.

  • Panelist on “Retail Industry and Independent Director Topics” in Finance 391 / 891 – Law 908, Corporate Restructuring, at the University of Pennsylvania Law School and Wharton School, Philadelphia, Pennsylvania, November 12, 2018.

  • Comments in “Michael Beyer Appointed Interim Chief Executive Officer of Chassix” PR Newswire, September 13, 2018.

  • “How and When to Support Directors in Contested Elections” in NACD Directorship – Boardroom Intelligence, the Official Magazine of the National Association of Corporate Directors, July/August 2018.

  • Comments in “Why Don’t Public Companies Maximize Value Like Private Equity?” by Tony Chapelle in Agenda – A Financial Times Service, July 31, 2018.

  • Speaker on “Key Drivers of Value for Automotive Suppliers” at Chassix Global Leadership Meeting, Novi, Michigan, June 14, 2018.

  • Comments in “What Directors Consider During Takeover Talks” by Tony Chapelle in Agenda – A Financial Times Service, January 22, 2018.

  • Interviewed at the Morgan Stanley Investment Banking Division Meeting on a Director’s Perspective on Investment Bankers, September 18, 2017, New York City.

  • Speaker at Rimstock pls Employees Day, July 13, 2017, West Browich, U.K.

  • Presentation to Shearman & Sterling Mergers & Acquisitions Group on “Governance Issues and Expert Witness Issues,” New York City, June 7, 2017.

  • Comments in Rimstock plc Employee Newsletter, June 2017.

  • Speaker on Board Evaluations at Equilar Board Forum, May 16, 2017, Dallas, Texas.

  • Comments in Rimstock plc Employee Newsletter, April 2017.

  • Comments in Rimstock plc Employee Newsletter, February 2017.

  • Speaker on Panel on Private Company Mergers & Acquisitions at National Association of Corporate Directors Beyond Borders Global Leaders Convergence Conference, September 18, 2016, Washington, D.C.

  • Moderator of Panel on Board Dynamics and Culture at National Association of Corporate Directors Beyond Borders Global Leaders Convergence Conference, September 18, 2016, Washington, D.C.

  • Quote in “Chassix’s Return to Profitability: Plant That Sent Company Spiraling Getting Refurbished” by Dustin Walsh in Crain’s Detroit Business, March 13, 2016.

  • Member: National Association of Corporate Directors 2015 – 2016 Nominating and Governance Committee Chairmen Advisory Council.

  • “Is the In-Person Meeting a Relic of the Past?” in NACD Directorship – Boardroom Intelligence, the Official Magazine of the National Association of Corporate Directors, November/December 2015. 1

  • Profiled in “2014 NACD Directorship 100, a Pantheon of Power and Influence,” in NACD Directorship – Boardroom Intelligence, the Official Magazine of the National Association of Corporate Directors, November/December 2015.

  • Speaker on Activism Panel at 12th Annual Boardroom Summit & Peer Exchange, a NYSE Governance Services Conference, October 13, 2015, New York City.

  • Member: 2015 Financial Times Outstanding Directors Advisory Board. • Comments in “M&A Misinformation: Rare but Attention Grabbing” by Tony Chapelle in Agenda – A Financial Times Service, September 21, 2015.

  • Guest on “Inside America’s Boardrooms,” a web show presented by Boardroom Resources filmed at the Nasdaq Marketsite on “The Risk Oversight Challenge: Who Should Own Cyber Risk? (Part 2), August 5, 2015.

  • Guest on “Inside America’s Boardrooms,” a web show presented by Boardroom Resources filmed at the Nasdaq Marketsite on “The Risk Oversight Challenge: Who Should Own Cyber Risk? (Part 1), July 29, 2015.

  • Trustee Profile on newyorkpowerauthority.wordpress.com, April 9, 2015.

  • Member – National Association of Corporate Directors 2015 Blue Ribbon Commission on Long-Term Value Creation and “Report of the NACD Blue Ribbon Commission on the Board and Long-Term Value Creation.”

  • Panelist for “The Who, What, Why & How of Establishing Peer Groups” at Compensation Strategies to Build Shareholder Value, a NYSE Governance Services Conference, March 31, 2015, New York City.

  • “The Risks Of Investing In A College Education — A College Education Is Part of the American Dream, But In Today’s Economy It Is Important To Rethink That Idea” on Fortune.com, March 25, 2015.

  • Comments in “An Atypical Board: Governance Insights From Buffett’s Berkshire” by Tony Chapelle in Agenda – A Financial Times Service, March 16, 2015.

  • Speaker on “Cornell and Philanthropy” at Provost’s Dinner for Cornell University Family Fellows, Ithaca, N.Y., February 28, 2015.

  • Quote in “Wall Street Wasn’t Ready For Another Mitt Romney Campaign” by MJ Lee om CNN.com, January 30, 2015.

  • Comments in “Going ‘Global’: Selling U.S. Products Overseas” by Tony Chapelle in Agenda – A Financial Times Services, January 20, 2015.

  • Comments in “Boards Trimming Down to Core Businesses” by Tony Chapelle in Agenda – A Financial Times Service, August 18, 2014.

  • Commentary on “As a Result of Increased Shareholder Engagements, Have you Seen Boards Change the Definition of Performance Metrics?” in C-Suite Insight, June 23, 2014.

  • Chairman, Capital Roundtable’s Private Equity Investing in Automotive Supplier Companies Conference, June 19, 2014, New York City.

  • Panelist for Corporate Member Initial Public Offering Board Forum, New York, City, April 22, 2014.

  • Guest Lecturer at the Johnson School, Cornell University, MBA Governance Course, Spring 2014, 2013, 2012 and 2011.

  • Quote in “No Customers for (New York Power) Authority’s Power” by James Odato in Albany Times Union, April 5, 2014. 2

  • Quote in “Private Equity and Washington: A Love Story” by MJ Lee in Politico, January 12, 2014.

  • Presentation to Cornerstone Research on “Confidentiality Agreements – Ubiquitous Deal Agreements That Can Have Significant Implications,” New York City, November 26, 2013.

  • Panelist for Overcoming a Best-Practices Mentality: Selling Shareholders on the Right Pay Program for Your Company at the NYSE Governance Services Corporate Board Member 10th Annual Summit, October 4, 2013, New York City.

  • Comments in “What Do Investors Want?” in Corporate Board Member, A NYSE Euronext Publication, Third Quarter 2013.

  • Interview: “On The Hot Seat in Delaware: Insights From an Expert Witness and Director” in “M&A Litigation Alert” from Analysis Group, Inc., July 2013.

  • Presentation on the Selected Topics in Confidentiality Agreements to the Global Securities and Finance Practice at NERA Economic Consulting, New York City, July 2013, New York City.

  • Quote in The Everything Store – Jeff Bezos and the Age of Amazon by Brad Stone, Little, Brown and Company, 2013.

  • Panelist for Shareholder Relations: Defining the New Normal at the Corporate Board Member Board-Shareholder Forum: Relations & Expectations, June 18, 2013 at the New York Stock Exchange.

  • “The Importance of Director Evaluations” with Steven A. Rosenblum in BoardroomIQ’s First Quarter 2013 Newsletter, March 2013 and on Boardroomiq.com, February 2013.

  • Panelist – “Setting CEO Pay: Short-Term Incentives” at the Corporate Board Member Equilar Compensation Committee Boot Camp, January 2013, Miami, Florida.

  • Presentation on a London Court of Arbitration Matter to the Global Securities and Finance Practice of NERA Economic Consulting, New York City, January 2013.

  • Guest on “This Week in the Boardroom – Building a Best in Class Compensation Program,” A Webinar, December 2012.

  • Panelist –“KPMG’s Spring 2012 Audit Committee Roundtable Series,” June 2012, New York City.

  • “Selected Key Governance Issues & Observations on Two Important Industrial Sectors and the Broader Market” at Columbia University Business School, April 2012.

  • “Case: Smurfit-Stone Container Corporation” with Yaniv Grinstein, Associate Professor of Finance, Johnson School of Management, Cornell University, April 2012.

  • “Another View: Let’s License Corporate Directors” in The New York Times Deal Book, September 2011.

  • Interview Regarding the New York Power Authority and Alternative Energy Efforts on NY1 Television, August 2011.

  • Panelist – “Compensation Roundtable,” August 2011, New York City.

  • “The Separation of Board and Company Leadership” on Boardroomiq.com, May 2011.

  • “What Directors Think: Changes You’d Like to See” in Corporate Board Member, Fourth Quarter 2010.

  • “Another View: Improving Corporate Governance” in The New York Times Deal Book, June 2010. 3

  • “Albany’s Dysfunction Continues to Hamper Growth” in The Buffalo News, May 2010.

  • “Another View: It’s Time to Rebuild the Dow” in The New York Times Deal Book, April 2009.

  • Recommendations and Action Plan for the Establishment of a Stock Market in Yemen – Report to The Ministry of Finance, Financial Services Volunteer Corps Mission and Report, April 2009.

  • “Another View: Taking a Page from Private Equity” in The New York Times Deal Book, December 2008.

  • “Mapping the Right Routes After the Decision to Sell” in Mergers & Acquisitions, July – August 1994.

Selected Expert Witness Experience

Corporate Clients
  • Alcoa
  • Alere
  • Asahi Tec Corporation
  • Bloomberg
  • C3 / Thomas Siebel
  • Crestview Partners
  • Exam Works
  • Financo
  • Glenhill Advisors
  • Goldman Sachs
  • McDermott Will & Emery
  • Merrill Lynch
  • News Corp / Move, Inc.
  • NGL Energy
  • One Asia
  • Plante Moran
  • Reading International
  • Renco
  • Virigin
  • Vulcan Materials
  • Elaine Wynn
Law Firms
  • Clifford Chance
  • Debevoise & Plimpton
  • Fried Frank
  • Greenberg Traurig
  • Honigman Miller
  • Jenner & Block
  • Kirkland & Ellis
  • King & Spalding
  • Kramer Levin
  • Latham & Watkins
  • O’Melveny & Myers
  • Paul Weiss
  • Proskauer
  • Quinn Emanuel
  • Richards Layton
  • Schulte Roth
  • Sidley Austin
  • Simpson Thacher
  • Skadden Arps
  • Sullivan & Cromwell
  • Wachtell Lipton
  • Young Conaway
Economic Consultancies
  • Analysis Group
  • Berkeley Research Group
  • Charles River Associates
  • Compass Lexecon
  • Cornerstone Research
  • NERA Economic Consulting

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