Meet our team
Duane Clark is a partner with Thorndike Landing, LLC. Before co-founding Thorndike in 2007, Mr. Clark was a senior member of the Financial and Strategic Advisory team at Navigant Consulting, Inc. (“Navigant”) and was a registered representative of Navigant Capital Advisors, LLC, the corporate finance division of Navigant. In these roles, Mr. Clark was responsible for managing engagements involving M&A advisory, strategic consulting and valuation services for a wide range of clients including investor-owned utilities, public power agencies, private equity firms, hedge funds and others. Mr. Clark has advised on transactions totaling in excess of $8 billion that span the power and gas sectors throughout the U.S., Canada, Mexico and abroad.
Before joining Navigant, Mr. Clark was a Principal with Barrington Energy Partners, LLC, a boutique consulting firm specializing in M&A, business strategy and market advisory services within the energy sector. While at Barrington, Mr. Clark advised on numerous acquisitions and divestitures by investor owned utilities; conducted strategic assessments related to merchant generation, transmission strategy, and retail power & gas; and performed valuations of a wide range of assets for strategic planning and accounting & tax purposes.
Prior to Barrington Energy, Mr. Clark was a senior member within the Accounting & Audit Services group at Deloitte & Touche LLP where he served clients in the energy, financial services, health care and other sectors.
Mr. Clark received degrees in accounting and finance from Florida State University and an M.B.A. with emphasis in Finance and Management & Strategy from the Kellogg School of Management at Northwestern University. Mr. Clark received a CPA certification in 1992.
R. John Dingle
R. John Dingle is a Partner with Thorndike Landing, LLC. Prior to this position, Mr. Dingle was the Managing Director of Navigant Consulting’s Financial and Strategic Advisory business. As a leader of Navigant’s Energy Practice, his responsibilities included the strategic and operational leadership (P&L) for the areas of merger and acquisitions, financial valuation, divestitures and managing sales transactions, due diligence, business strategy and overall consulting related to the U.S. and Canadian energy markets. In the area of mergers and acquisitions alone, Mr. Dingle has been responsible for combined transactions in excess of US$20 billion, both domestically and internationally.
Mr. Dingle has become a market thought-leader, sought out for his views and commentary, not only for clients but with roles as keynote speaker for a myriad of industry conferences and publications as well as ‘industry expert’ roles including television, radio and print commentary related to mergers and acquisitions for Barron’s, Bloomberg News, Dow Jones, and Crain’s.
Prior to his position at Navigant Consulting, Mr. Dingle was co-owner and Partner with Barrington Energy Partners, LLC, a firm specializing in the areas of M&A, business strategy and private equity within the energy industry. He sold Barrington Energy Partners to Navigant Consulting in 2002, with Navigant contracting his services to lead and manage an extended version of Barrington’s overall business and broaden Navigant’s capabilities and exposure within the energy markets as a whole.
Internationally, Mr. Dingle was the founder of the Energy Advisory Practice for Logica Pty in Australia. As the Director and leader of this practice, Mr. Dingle was responsible for establishing and managing an advisory organization focused on the electric and natural gas industries in the southern hemisphere, including Australia, New Zealand, and Singapore. He was responsible for overseeing the strategic, operational and functional management for this concern. Upon returning to the United States, Mr. Dingle developed and established Reed Consulting Group’s Australian subsidiary, Reed Consulting Pty. Ltd., and was the firm’s Responsible Officer for this company. In that capacity, he oversaw the strategic, operational and functional management for Reed Consulting Pty. and was a member of the Board of Directors of this venture.
Mr. Dingle has spoken at and chaired dozens of industry conferences throughout North America and the Southern Hemisphere including the Utility M&A Symposium and Financing US Power, representing the energy industry’s annual marquis events, and has served on several Boards of Directors. Mr. Dingle holds a B.A. in Economics and an M.B.A.
Olaf Karstens is a Partner with Thorndike Landing, LLC. Prior to this position, Mr. Karstens was the Director responsible for Navigant Consulting’s Financial Valuation Team within the Energy Practice, and, prior to that, he was responsible for the Market Modeling Team, leading efforts with a range of forecast models, such as PROSYM, PROMOD, and GE MAPS in support of a wide range of market-driven strategy developments and financings. Mr. Karstens has been involved in transactions valued in excess of US$ 8 billion.
Mr. Karstens’ professional focus has been in investigating and forecasting the wide range of markets affecting the North American energy industry. To support the increasing need of clients to deeply understand and analyze these markets, he has developed an integrated suite of fundamental forecast models that integrate items such as carbon supply curves, natural gas marginal cost of exploration and production, as well as power industry supply and demand into a well-rounded forecast set.
Early on and with increasing frequency, owing to the explosive growth in wind generation, Mr. Karstens has supported several transactions in the renewable space with items ranging from the commercial due-diligence of these entities and projects to the intricate analyses of wind data, turbine-specific issues, and other salient financing drivers. Thorndike Landing’s wind databases have allowed effective and efficient support in this part of the industry that is especially reliant upon fast engagement execution.
In the course of his market-related work Mr. Karstens has authored several Market Reports that have been used to finance acquisitions. He is therefore accustomed to providing independent opinions to project sponsors, investment banks, and rating agencies. Often, these opinions are supported with market primer presentations and conference calls. Geographically, his work has spanned most of North America and has ranged from providing testimony in New England on peaking margins to market support for many transactions in New England, New York (NY-J and western zones), PJM, MISO, SERC, FL, ERCOT, SPP, as well as the Western Interconnect and California.
Prior to his position with Navigant Consulting, Mr. Karstens was a Principal with Barrington Energy Partners, LLC, a firm specializing in the areas of M&A, business strategy and private equity within the energy industry. Mr. Karstens’ entry into client advisory started with his strategy work for the Boston Consulting Group (BCG) in Europe, where he worked for a variety of clients in the financial services, real estate, and manufacturing sectors.
Mr. Karstens holds a Ph.D. in Physical Chemistry from the University of Duesseldorf, Germany. His studies included time as an exchange student in the Graduate School at the University of North Carolina at Chapel Hill.