Executive Interview, Craig Bouchard: Play Hard, Fight Hard, Win

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American Metal Market

Originally published August, 2013

Play Hard, Fight Hard, Win

Craig BouchardThe competitiveness comes naturally. Bouchard was raised in a household which embraced and thrived on a ‘winner-take-all’ attitude and where the former Inland Steel put food on the table.

No matter the weapon of choice—the nearest pillow, a blazing fastball, a crushing backhand or a highstakes proxy vote—Craig Bouchard loves a good fight. And over a career spanning more than three decades and stints as an investment banker, chief executive officer of a risk management software company, dealmaker, takeover artist, financial wizard, steel mogul, author and entrepreneur, he’s made a habit of winning.

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Craig Bouchard, U of C, Chicago Booth Magazine

Craig Bouchard, ’81

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Chicago Booth Magazine (U of C)

Originally published October, 2015

The entrepreneur reflects on tossing out an entire board of directors, the joy of making hard-working employees into millionaires, and the importance of bedtime stories for kids.

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Craig Bouchard Resigns from Board of Directors of Real Industry Inc.

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FOR IMMEDIATE RELEASE

CHICAGO, IL (August 23, 2016) Serial entrepreneur Craig Bouchard today announces he will be resigning from the Board of Directors of Real Industry Inc.

“I want to thank the management team and all employees who worked tirelessly to grow the company from $40 million of annual revenue to roughly $1.4 billion of annual revenue on two continents over the past two years,” states Bouchard. “The Board of Directors and I share a different vision for the path of growth going forward but I will continue as a significant shareholder and supporter of the Real Industry team.”

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Real Industry: CEO Loss Stings

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Seeking Alpha

by Peter Kaye

Summary

  • A core part of my thesis hinged on a skilled capital allocator presiding over Real Industry.
  • The resignation of Mr. Bouchard detracts from the attractiveness of RELY as an investment.
  • I’m adjusting my target price from $13.92 to $10/share in light of the uncertainty surrounding this management change.

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Signature Group: An Opportunity to Tag Along With Sam Zell

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Acquisition strategy and a big swath of federal net operating tax-loss carryforwards, which could pay off for investors in Signature Group.

Barron’s

By David Englander

Last week, this column highlighted the opportunity present in the shares of Covanta Holding, pointing out that the waste-to-energy company (ticker: CVA) has long benefited from its association with investor Sam Zell.

Zell is well known for his success at turning around businesses, often becoming involved at the bottom. Investors usually have done well to tag along.

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Recycling Twist Cuts Ford Truck Costs

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Wall Street Journal

By Mike Ramsey and John W. Miller

Ford Motor Co.’s decision to build a lighter-weight pickup truck using aluminum body-panels has been billed largely as a way to achieve better fuel economy. The company’s boss says it is also a recycling play.

The 2015 F-150, perhaps the most important vehicle to hit Ford dealerships in decades, goes on sale this month. By the time a new truck exits the factory and heads for the showroom, it will have left behind $300 worth of scrap aluminum on the plant floor.

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Signature Group to Mimic Private Equity Format

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The Deal Pipeline

By Tatiana Kulkarni

Following its recently announced $525 million acquisition of Aleris Corp.’s aluminum recycling business, Signature Group Holdings Inc. (SGGH) looks to pursue the model of a publicly traded private equity firm.

“While remaining flexible, one outcome would be to become a mini-mini Berkshire Hathaway,” said CEO Craig Bouchard, referring to Warrant Buffett’s PE-like Berkshire Hathaway Inc. (BRK.A) of Omaha.

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Aleris to Sell Aluminum-Recycling Unit to Signature

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Bloomberg

By Sonja Elmquist

Aleris Corp. (ARS), the aluminum maker owned by Oaktree Capital Management LP, agreed to sell its recycling unit to Signature Group Holdings Inc. (SGGH) for $525 million in cash and stock.

Global Recycling and Specification Alloys is the largest independent recycler of aluminum, Sherman Oaks, California-based Signature said today in a statement. The growth in recycled aluminum consumption is expected to outpace primary aluminum for the next decade, it said.

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Aleris International Inc. to Sell Recycling and Specification Alloys Businesses for $525 Million

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Crain’s Cleveland Business

By Rachel Abbey McCafferty

Beachwood-based Aleris International Inc. announced it will sell its North American and European Recycling and Specification Alloys businesses to an affiliate of Signature Group Holdings Inc. for more than half a billion dollars.

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A Busy Four Years for Craig Bouchard

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Hinsdalean

by Pamela Lannom, Editor

When I first met Craig Bouchard in July 2010, he told me about his business endeavors (owning oil companies, the Naples Bath and Tennis Club, and a steel company with $4 billion in revenue, to name a few). Then he surprised me with the comment that he thought his greatest accomplishment would be the children’s novel he was finishing.

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