F. John Stark, III is the Managing Principal of Water Tower Capital, LLC, a nationally recognized advisory firm specializing in providing strategic counsel to companies, creditors, and institutional investors in financially distressed situations. With a robust career spanning over three decades, John has established himself as a seasoned turnaround and workout professional, renowned for his expertise in acting as an outside director, court-appointed Chief Restructuring Officer, and Receiver.
John began his career as an attorney with Briggs and Morgan in Minneapolis, MN, focusing on Corporate, Banking, and Bankruptcy law. He transitioned into the investment management sector in 1989 with Washington Square Capital, where he gained substantial experience in evaluating and managing a wide range of fixed income investments, including distressed debt.
From 1990 to 2000, John led the Special Investments Group at PPM America, Inc., managing a $1 billion workout portfolio and overseeing distressed securities funds that managed over $870 million in assets. His leadership at PPM America was marked by his role on more than 75 creditors’ committees, often serving as chairman, and his involvement in high-profile restructuring and acquisition initiatives.
In 2001, John founded Water Tower Capital, LLC, where he has since advised on numerous complex financial restructurings and managed the sale of distressed assets. His vast experience includes raising capital for companies in financial distress, structuring turnaround financing, and managing high-yield and distressed debt funds. John has also served as a Chief Restructuring Officer for several companies, orchestrating successful turnarounds and asset sales in challenging markets.
John Stark has played a pivotal role in facilitating and managing significant business transactions and restructuring efforts across various industries. Notably, he was instrumental in the acquisition of Midwest Prefinishing, Inc. and Premium Prefinished Products, Inc. by North American Specialty Laminations (NASL) in October 2022. These sister companies, known for their best-in-class prefinishing services for interior doors, moulding, and stair parts, represent the largest independent prefinishing operation in the United States. Stark’s involvement in this transaction helped NASL enhance its prefinishing expertise, enabling the company to meet the increasing demand for color in building products and expanding its national footprint.
Additionally, Stark’s expertise extends to the precision machining and Tool & Die manufacturing industry, where he served as the Chief Restructuring Officer for RAM Tool, Inc. After conducting a thorough assessment of the company, he recommended its sale and later managed complex negotiations with potential buyers. When the initial sale fell through, Stark successfully restructured the company’s debt, diversified its customer base, and implemented strategic operational changes, including applying for ITAR certification and recruiting new leadership. His actions ensured the company’s stability and set it on a path to recovery, highlighting his ability to navigate challenging business environments and deliver effective turnaround solutions.
Throughout his career, John has been involved in over 100 financial restructurings, serving on ad-hoc committees and advising constituencies in high-profile cases such as Spansion, Inc. and Exide Technologies. His expertise extends to real estate management and sales, having overseen significant transactions, including the management and sale of commercial properties.
In addition to his professional achievements, John is a sought-after speaker and moderator at industry conferences, sharing his insights on managing distressed debt and corporate workouts. His deep understanding of distressed investing, combined with his legal and financial expertise, makes him a distinguished leader in the field of financial restructuring and turnaround management.
Character: F. John Stark, III is a highly experienced and trusted professional known for his integrity and expertise in managing financially troubled situations and restructuring efforts.
Knowledge: He possesses deep knowledge in turnaround strategies, distressed asset management, investment banking, and legal aspects of bankruptcy, developed over decades of hands-on experience.
Strategic: Stark is a strategic leader who has successfully managed and advised on complex financial restructurings and capital raising initiatives, consistently delivering results in challenging environments.
Communication: He is an effective communicator who has testified as an expert witness and spoken at numerous industry conferences, sharing his insights on workouts and distressed debt management.
