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Recharge Acquisition Corporation

Recharge Acquisition Corporation

Oct 19, 2020 by Roman Developer


  • The Company intends to dissolve and liquidate in accordance with the provisions of its Amended Charter, effective as of the close of business on October 5, 2022, and will redeem all of the outstanding shares of Class A common stock that were included in the units issued in its initial public offering, at a per-share redemption price of approximately $10.12.


Executive Officers

Anthony Kenney, 66
Chief Executive Officer and Director Nominee

Mr. Kenney began his 43-year career with MPC in 1976. In 1990, he transitioned to Emro Marketing Company, the predecessor of Speedway LLC. He served as Emro’s commercial manager, controller, and treasurer, and went on to be appointed Vice-President, Finance; Controller; and Treasurer in 1995. From 1998 through 2000, he was Vice-President, Finance and ITS for Speedway SuperAmerica. Mr. Kenney was named Vice-President, Business Development of Marathon Ashland Petroleum in 2001 and in 2005 was named President, Speedway SuperAmerica, which changed its name to Speedway LLC in February 2011. During Mr. Kenney’s tenure as President of Speedway, the company grew from primarily a nine-state Midwest convenience store chain with approximately 1,600 locations to the nation’s second largest company owned and operated C-Store chain. Upon Mr. Kenney’s retirement in January of 2020, Speedway had grown to nearly 4,000 stores across the United States with greater than $20 billion in annual sales and more than 35,000 employees. Mr. Kenney oversaw the company’s organic and inorganic growth strategy, including two 1,000+ store acquisitions. Mr. Kenney graduated with a Bachelor of Science degree in accounting from Miami University in 1976. In 2000, he attended the Executive Program at the University of Michigan School Of Business.

Michael Gearhardt, 65
Chief Financial Officer

Mr. Gearhardt began his career with Dayco / Mark IV Industries, serving in a variety of finance and managerial roles. In 1998, Mr. Gearhardt was appointed to the position of Executive Vice President of the Industrial Division. During his tenure as Executive Vice President, Mr. Gearhardt participated in acquisitions and divestitures, and was a member of the team that led the company’s $2 billion sale to BC Partners – a European buyout firm – in 2000. From 2003 to 2008, Mr. Gearhardt served as Executive Vice President and CFO of MTCT, where he closed several acquisitions and worked directly with the CEO on strategic initiatives. He led the sale of the company to BAE in 2008; the transaction was valued at $450 million.


Board of Directors

Rajesh Soin, 73

Mr. Soin founded Modern Technologies Corporation in 1984. He led the company for 18 years as Chairman and Chief Executive Officer before taking the company public in 2002 as MTC Technologies, Inc., where he then served as Chairman of the board. In 2008, MTCT was sold to BAE Systems Inc. in a transaction valued at approximately $450 million. Mr. Soin continued his business career by serving as Chairman and Chief Executive Officer of Soin LLC, a holding company that controls the Soin Family enterprises and equity investments. In addition to his entrepreneurial experience, Mr. Soin has served on multiple public and private boards throughout his career. Mr. Soin’s most notable board positions include: Diebold Nixdorf from 2012 to 2018, Kayne Anderson Real Estate Partners Funds II and III from 2013 to present, and Transtar Industries from 2017 to present. Mr. Soin graduated from Delhi Technological University with a degree in mechanical engineering and received his Master’s degree in Industrial Engineering from Bradley University. He successfully completed advanced management programs at Harvard University and The Wharton School of the University of Pennsylvania.

Mitchell Steenrod, 54

Mr. Steenrod joined the board of CarMax, Inc. in 2011 and currently serves as lead independent director. Mr. Steenrod is the retired Senior Vice President and Chief Financial Officer of Pilot Travel Centers LLC (doing business as “Pilot Flying J”), the nation’s largest operator of travel centers (“Pilot”). Subsequent to a 13-year career holding various positions in the accounting organization with Marathon Oil Company and Marathon Ashland Petroleum LLC, Mr. Steenrod joined Pilot in 2001 as controller and treasurer. In 2004, Mr. Steenrod was promoted to Senior Vice President and Chief Financial Officer and held this position until his retirement in 2018. During his tenure with Marathon Ashland Petroleum LLC and Pilot, Mr. Steenrod participated in several large acquisitions and business combinations. The first was the joint venture formation between Marathon Oil Company and Ashland Petroleum Company to form Marathon Ashland Petroleum LLC in which he served as the lead financial analyst on behalf of Marathon Oil Company. The second was the merger of the Pilot branded travel centers with Speedway branded travel centers (owned by Marathon Ashland Petroleum LLC) to form Pilot. In 2003, Mr. Steenrod was instrumental in acquiring 60 travel centers from The Williams Company on behalf of Pilot. In 2010, Mr. Steenrod led all facets of the merger of Pilot and Flying J, Inc. to form the nation’s largest travel center operator. Mr. Steenrod was named as a defendant in his capacity as Chief Financial Officer of Pilot, in four class action lawsuits filed in 2013 arising out of a criminal investigation by the United States Attorney for the Eastern District of Tennessee over an allegedly fraudulent scheme by Pilot to reduce and/or withhold rebates and/or discounts for diesel fuel which Pilot allegedly owed to certain consumers. The civil litigations were settled in 2013 and the criminal investigation of Pilot concluded pursuant to a settlement and non-prosecution agreement. Mr. Steenrod was never charged with any crime, and the testimony elicited during criminal trials of Pilot executives demonstrated that they deliberately kept Mr. Steenrod from learning of the scheme.

Donald Graber, 77

Mr. Graber joined the Precision Castparts Corporation (PCC) Board in 1995 when the company generated $400 million in revenue. Over the next 21 years the company grew to over $10 billion in revenue via organic and very aggressive acquisitive growth. PCC consolidated the supplier side of the aerospace industry by becoming the leading supplier of castings, forgings, fasteners, and certain airframe components used in both jet engines and commercial & defense airplane construction. PCC was sold to Berkshire Hathaway for $37.2 billion, which was Berkshire Hathaway’s largest acquisition to that point in time. Mr. Graber served as the lead director of PCC for three years, chaired the Nominating & Governance Committee, and served on the Compensation Committee during his time on the board. Mr. Graber’s other notable board positions include: MTCT from 2002 to 2008, Amcast Industrial Corporation from 2001 to 2003 and Huffy Corporation from 1996 to 2004, where he also served as Chairman & CEO.

John Bachman, 64

After Mr. Bachman received his MBA from Harvard Business School in 1988, he became an Assurance Partner at PwC. As an Assurance Partner, Mr. Bachman led financial and accounting due diligence on deals. In 2004, Mr. Bachman was named the U.S. Strategy Leader for PwC. In this role, Mr. Bachman created a strategic planning process using a multi-faceted approach across the matrix organization focusing on business units, geographies, and industries. In 2007, Mr. Bachman was selected to be the Chief Operating Officer of PwC’s audit and risk management practice in the United States, which represented over 50% of PwC’s revenue. In addition to his career with PwC, Mr. Bachman has also served on the Board of Directors for four public companies: The Children’s Place from 2016 to present, WEX Inc. from 2016 to present, Grocery Outlet Holding Corp. from 2019 to present and SCANA Corporation from 2018-2019.