In 1983 he recognized the inevitable upheaval in transportation that would come after deregulation of the airline industry and the end of the Civil Aeronautics Board. In anticipation, Rosenthal launched his first company – NetAir International. He foresaw the realignment of airline networks from point to point service to a hub and spoke system and the difficulties that would befall time sensitive executives. The solution was to disrupt the localized and fragmented jet charter business by building the first multi-city on demand jet charter company, providing immediate access through centralized dispatch, standardized training, national accounts, and uniform branding.
That which now seems obvious wasn’t easy to evangelize in ‘83. But with the help of active investors Jay Chiat, Linden Blue, Wally Schirra, Honorable John Lindsay, Hycliff Ventures and others NetAir was born. As Chairman and CEO Mr. Rosenthal grew NetAir into the largest certificated non-scheduled carrier in the U.S with 18 flight centers and over 100 jets providing “random access” transportation to 1,700 cities. A public offering in 1985 helped spur growth, and in 1989 Rosenthal successfully exited with a sale of his shares to a private equity investor at time when rival NetJets had a dozen aircraft.
Again seizing upon transformation, in 1990 Rosenthal saw the proliferation junk bonds of the 80’s creating distressed opportunities. Rosenthal launched Saybrook Partners, a merchant bank specializing in complex municipal and corporate turnarounds and restructurings. Timing was fortuitous, resulting in more than $200 billion in transactions across nearly 100 platform entities (1990-2006), including Pacific Gas & Electric Company, Orange County, Adelphia, Kmart, Foster Wheeler, and United Airlines.
By 1999 it seemed to Rosenthal that “alternative” investment managers needed to diversify by building multi-strategy platforms. The success of SRA provided sufficient cash flow to launch a Registered Investment Advisor (RIA) and ultimately 9 closed end funds across 4 strategies, deploying capital for institutional investors. In 2007 Rosenthal began to focus exclusively on principal investing in the corporate middle market, starting Saybrook Corporate Opportunity Funds (SCOF), 2 institutional closed end private equity vehicles for investing in complex control and non-control situations in the U.S and Canada. Today SCOF has invested approximately $300 million in 21 core investments with 11 realizations.
Rosenthal currently serves as Chairman of TTSI, one of the largest port trucking companies in the Los Angeles / Long Beach Harbor; Taylored Logistics, a bi-costal mid-size third party logistics provider (3PL) operating approximately 1.5 million square feet of warehouse, and Accretive Solutions, a finance and accounting staffing and consultancy firm with approximately 800 professionals in 11 cities. He is the Founder / Chairman of the Los Angeles Harbor Performance Enhancement Center, and a technology data management start-up, WherehouseIT.com.
Rosenthal was recently appointed by the U.S. Transportation Secretary to the Marine Transportation System National Advisory Committee, and by the Mayor of Los Angeles to the Los Angeles Sustainable Freight Advisory Board. Mr. Rosenthal was elected by his peers to the International Board of Trustees of the Turnaround Management Association. He is the Founding Chairman of the Harvard Graduate School Leadership Institute, and is on the Board of Directors of the University of Southern California, Center for Supply Chain Management. Rosenthal is the immediate past Chairman of the Los Angeles chapter of World President’s Organization (WPO) and is currently a member of the WPO Pacific Regional Board. He has lectured in the area of transformational change at the University of Chicago, UCLA, John’s Hopkins, and Harvard College. He is a Member of the Colorado, New York, and Federal bar associations, and is married with 2 children.
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