About Tenor
We create shareholder focused solutions through employee ownership.
Our Team
Each member of the Tenor team has held high level leadership positions with large institutional organizations. We have come together to create an agile corporate finance firm with only one thing in mind; to create unique succession solutions tailored to each selling shareholder, using employee ownership as the vehicle (ESOP)
The principals of Tenor have deep M&A and ESOP experience and have completed over 50 transactions with privately held companies, since the formation of Tenor in 2015.

Todd Butler
Managing Partner - Legal and Structuring
Todd Butler is the founder and a managing partner of Tenor and oversees firm’s Legal and Structuring functions. Prior to committing to Tenor full time in 2016, he previously led the national ESOP legal transaction team at the law firm of FisherBroyles, LLP, which prior to his departure had become the most active ESOP legal transaction practice in the Southeast. Prior to working with FisherBroyles, LLP, Todd led the national ESOP legal transaction practice at the law firm of Holland & Knight LLP, which is one of the largest law firms in the country. Todd has a law degree and a bachelors degree in finance from Georgia State University.

André Schnabl
Managing Partner - Valuation
Andre Schnabl is a managing partner of Tenor and leads the firm’s debt placement and valuation practice. Prior to joining Tenor, Andre retired as Managing Partner of the Atlanta office of Grant Thornton LLP in 2012. Prior to his retirement, he held a variety of positions within the firm in the firm’s offices in Zimbabwe, Montreal, Canada and Atlanta. During his career, he has consulted with mid-market companies on a variety of matters, including mergers and acquisitions, debt and equity financings including public offerings. Since Joining Tenor in 2015, Andre has been advising companies and shareholders in business succession using ESOPs, including shareholder advocacy, structuring and leading the financing raises. Andre has a Bachelor of Science degree in Chemistry and Geology from the University of London and is a CPA. He serves on a number of corporate and not-for-profit boards.

Vince Dees
Partner - Analysis and Modeling
Vince is a Partner at Tenor. Vince began his career as a Certified Public Accountant in the Atlanta office of Grant Thornton LLP where he served as audit manager for clients in a variety of industries including construction, manufacturing, retail, and service. Vince left public practice to become the CFO of Automated Logic Corporation where he led the company’s acquisition efforts and the eventual sale of the company. He was also co-founder and CFO of Blue Ridge Technologies where he led the finance and manufacturing operations. During his career, Vince has consulted with companies on a variety of matters including corporate finance, acquisitions, debt and equity financing. Vince has a Bachelor of Business Administration degree in Accounting from the University of Georgia.

Anthony Levi
Partner - Transaction Operations
Anthony Levi is a Partner at Tenor and leads the firm’s transaction operations. His broad business experience includes 21 years with automotive OEM PACCAR holding roles in the controller, global procurement, manufacturing operation, and business administration functions. Anthony led a PACCAR manufacturing and distribution company with three facilities, over one thousand employees, and annual sales exceeding $1 billion. He negotiated and managed commercial relationships with hundreds of suppliers covering billions of dollars in annual spend. Anthony earned a bachelor degree in Business Administration degree from the University of Georgia and a Master in Business Administration from Seattle University. He is a Certified Management Accountant.

Gary Gray
Partner - Business Development and Construction Leader
Gary Gray is a Partner and leads the firm’s Construction Practice. Prior to joining Tenor, he founded and led a national contracting business that successfully transitioned to an ESOP, founded ESOP Consulting Group, a Post Transaction ESOP Consulting Business and served as an officer in multiple trade organizations. During his career as the CEO of an ESOP Contracting business, Gary achieved nearly 3x growth within five years following the transition to an ESOP and ultimately exited the business as the 2nd Largest Paint and Coatings Specialty Contractor in the United States according to ENR, October 2024. With years of experience consulting ESOP companies, Gary has helped shareholders create solutions customized to their business culture, aligned management with ownership goals, and designed sustainable Management Incentive Plans that drive growth benefiting employees and shareholders alike. Gary serves on a number of ESOP Boards and is a Certified Exit Planning Advisor (CEPA).

Marc Herrick
National Director of Business Development
Marc Herrick brings over 30 years of business development leadership across the hospitality, fitness, technology, and automotive sectors. A seasoned consultant and strategist, Marc specializes in advising business owners on long-term growth and complex succession planning. At TENOR, he leverages his extensive background to help founders navigate the nuances of ESOP transactions, ensuring their legacies are secured and their corporate cultures are preserved. With deep experience in Franchise Consulting, Marc is particularly adept at helping multi-unit operators develop exit strategies that reward dedicated teams while maintaining operational excellence. Marc holds a Bachelor of Science from Georgia Southern University with a focus on Business and Marketing.
Our firm is exclusively focused on the design and execution of shareholder succession through the use of ESOPs.
We are a specialty advisory firm with extensive experience executing transactions across a broad range of industries and corporate cultures. Collectively, the Tenor team members have structured, coordinated, and executed hundreds of successful transactions.
We guide our clients though a seamless experience including:
- Initial Feasibility Study
- Transaction Design
- Competitive Financing Raise
- Representing Sellers in Negotiating Financial and Legal Terms
- Transaction Execution




