His expertise stretches across the energy value chain, including oil and gas exploration and production, utilities, gas processing and pipelines, coal production and processing, fuel terminals, renewable technologies, and service providers, as well as into other industries including real estate, automotive, and software. In addition to his advisory experience with leading global consulting firms, Roopesh spent several years as both a private equity investor and a strategy/finance executive for distressed operating companies across the energy sector.
Before joining Ankura, he served on the executive team for Summit Utilities, a distressed, private-equity backed natural gas utility as Vice President of Corporate Strategy, Finance and Development. Prior to his time at Summit, Roopesh led the natural resource and real estate investment and asset management group for a $500 million distressed, private-equity firm in Denver. He has also served in additional turnaround, corporate strategy, finance and related roles at a Fortune 500 diversified utility, a top tier global strategy consulting firm, a global automotive manufacturer, and an enterprise software and services company.
Roopesh’s professional experience includes:
- Summit Utilities Inc.: Direct hire by private equity sponsor JP Morgan Asset Management to the executive team of a distressed natural gas utility, as vice president of corporate strategy, finance, and development. Successfully stabilized Summit’s immediate financial position; evaluated and rebuilt the firm’s growth strategy; established a highly functional corporate finance FP&A platform; and restructured and led the sales, marketing, and development teams. Key leader in the successful acquisition of Arkansas Oklahoma Gas in early 2017, which doubled the company’s customer footprint and provided a best-in-class operating platform for Summit.
- United American Energy: As lead investor from the PE sponsor, successfully stabilized, capitalized, and rebuilt a shallow-oil producer in eastern Kentucky. Compiled a portfolio of 500 operating wells across four counties, totaling 3,500 barrels per month production. Reduced operating costs by 35 percent while boosting production, providing strong cash flow to fund operations and strong returns to the sponsor. Installed a rigorous financial reporting and project management platform. Aggregated a mineral and override portfolio on operated leases, yielding an additional 35 percent internal rate of return to investors. Secured a senior debt facility to retire existing, noncompliant debt and to fund future growth.
- Kentucky Blue Gas Co.: Kentucky Blue Gas Co.: As lead investor from the PE sponsor, stabilized and rebuilt a distressed and shut-in oil and gas field, gas gathering system, and processing plant. Secured a best-in-class operating partner to lead day-to-day field and plant operations. Aggregated 60,000 net acres and drilled 25 wells to prove a new, liquids-rich shale. Resolved all outstanding legal and environmental issues from the prior operator. Installed a rigorous financial reporting and project management platform. Secured a senior debt facility to retire existing, noncompliant debt and to fund future growth.
- Red Mesa Holdings: As lead investor from the PE sponsor, stabilized and restructured a distressed oil and gas producer with operations focused in the southwest corner of Colorado. Shifted investment strategy from drilling to leasing/JV, aggregating an 11,000+ net acre lease position at below-market pricing. Successfully negotiated joint development with a large, private E&P company to test horizontal drilling. Resolved all outstanding legal and environmental issues from the prior operator. Installed a rigorous financial reporting and project management platform to help control and reduce operating costs. Secured a senior debt facility to retire existing, noncompliant debt and to fund future growth.
- DTE Energy: As a member of the corporate strategy and mergers and acquisitions team, led the evaluations of two distressed subsidiaries, DTE Rail Services (rail car repair services) and DTE Peptec (coal reclamation and processing), to determine their long-term viability and ability to produce returns for the parent company. Successfully executed the turnaround of DTE Rail Services, identifying, structuring, and working with management to execute pricing, operational, and investment initiatives to grow net income 15 times and enterprise value eight times. Determined the lack of future potential for DTE Peptec, resulting in liquidation of its asset base and elimination of $1 million per year net income drag. Additionally, developed a $300 million, five-year investment strategy for DTE Coal Services focused on building a physical coal trading platform through the acquisition of production, midstream and generation assets.
- Ford Motor Company: As a member of the treasurer’s office, managed the company’s $17 billion multiseller asset-backed securitization program. Successfully led the renewal of $16 billion in revolving credit facilities committed to purchase Ford Retail Auto assets amidst corporate credit downgrades by all major rating agencies. Negotiated $3 billion in new commitments and $1 billion in expanded commitment from the banking group.