Management Consultant – Mike Poma
Pasadena and Inland Empire Offices
Mike Poma is a second generation entrepreneur, who purchased his father’s business, took the company to a much higher level and sold it to a private equity group at a substantial premium. Mike is not only a highly successful businessman, he also accomplished the difficult task of taking over the reins of his family’s business and rapidly growing it. He did that by becoming a student of management ‘best practices’ and implementing them to help grow his company.
Mike brings Janas clients a practical hands-on approach learned by running his family’s business and implementing change to support growth. Mike has negotiated the often thorny issues unique to multi-generational family management. He understands that family businesses make decisions and resolve issues differently than public companies. Mike has favorably resolved several family issues for clients, clearing the way for substantial transactions to be completed.
Mike quadrupled the sales to nearly a quarter billion dollars at Poma during his ten years as CEO. Dramatic growth came through acquisitions and new market development. The Poma Companies were engaged in automated fueling, commercial and industrial lubricants, automotive lubricants, and petroleum equipment.
Mike was not only the head of his family’s business, he also held leadership positions in his industry. He served as a board member for Independent Lubricant Manufacturers Association (“ILMA”) and the Chevron & Texaco Petroleum Marketers Association, as well as his local Young Presidents Organization chapter. He is particularly active in promoting executive education and exploring how new management practices can be incorporated to improve performance.
In 2006, Mike sold his controlling ownership interest in the Poma Companies to his in-house management team. He was intimately involved in working with Janas Associates to arrange financing from Comerica Bank and a management buyout funded by private equity fund Levine Leichtman Capital Partners, Beverly Hills.
Mike joined Janas Associates to focus on assignments related to family run businesses and the petroleum industry. He is particularly expert in how industry consolidations can reap rewards for owners and investors.
Mike brings practical operating advice, savvy business strategies, financial acumen and sensitivity to family business issues to deliver superior outcomes for his clients.