Kelly L. Kittrell is a Senior Managing Director at Ankura with more than 30 years of corporate finance and investment experience. Kelly has worked in client service consulting, consulting at a law firm, in investment at a private equity firm, and served as the chief financial officer and director of a public company. His experience includes advising on sell-side and buy-side transactions, valuation analysis, corporate finance, equity and debt financings, and litigation consulting. He serves as Ankura’s head of development and acquisitions and is based in Dallas.
Kelly’s professional experience includes
- Reviewing consulting industry acquisition candidates, including valuation analysis, preparation of letters of intent and due diligence.
- Attending regular Ankura board meetings as a nonmember, reporting on transaction activity and projecting cash, financing and capital investment needs. He assists in other administrative areas, including purchase and review of corporate insurance policies, 401(k) administration, and other corporate services.
- Serving as Ankura’s CFO from inception through 2016 where he assisted in the development/preparation of Ankura’s business plan, financial projections, and a review of/negotiation with acquisition candidates, as well as introduced and met with debt/equity financing sources to complete initial acquisitions. Additionally, he participated in meetings and negotiations with Madison Dearborn Partners to finalize investment in Ankura and met with ARPC owners on multiple occasions to negotiate acquisition terms of Ankura’s purchase of ARPC in Washington, DC, in March, 2016.
- As chief financial officer of CVSL Inc., Kelly prepared financial statements, including S-1, annual, and quarterly filings with the SEC, for this publicly-traded acquirer of direct-selling businesses and served as a member of the board of directors.
- As chief investment officer of the private equity firm Richmont Holdings, he performed financial review and purchase price analysis on private equity transactions, negotiated financial and legal/contractual aspects of acquisitions, arranged bank and seller financing and worked as CFO/analyst for portfolio companies, performing profitability analyses and forecasting.
- As senior litigation consultant at Dallas litigation firm Bickel & Brewer, he analyzed companies in litigation to determine valuations and damages, identified and worked with expert witnesses regarding financial testimony, and determined fallacies in opposing expert valuations, financial reports and damage claims.
- As managing director at Bank of America’s private company advisory services, he was a mergers and acquisitions advisor for clients in the strategy, analysis, and sale of client businesses where he developed and made presentations to clients and bank associates and generated sell-side mandates and valuation assignments, as well as led execution teams.
- As director at EY Corporate Finance and previously at KPMG, he provided strategic advice for clients in all aspects of M&A transactions, advised sellers regarding the sale of an automobile retail chain, a newspaper publisher, and numerous other companies and performed valuations on more than 50 going-concern companies, including a major commercial airline.
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