Representative Assignments
Turnaround of an international specialty metals distributor; EVP/CFO/COO
Largest company within a $1B family office portfolio in profitability and liquidity crisis. Options were to liquidate, sell or turnaround operations. Part of a two-man team that developed, implemented and completed turnaround of sales, supply chain and operations. Initial role was EVP, CFO, Treasurer and Secretary with a focus on strategy then as COO a year later to execute the strategy. Business successfully restructured, operationally turned around and sold.
National FDA product recall and orderly shutdown of a medical products company; CEO/Turnaround Mgr.
Company had unremediated FDA violations, necessitating two emergency national medical product recalls. Decision made to shut down business while complying with recall. As CEO, closed all facilities and offices, sold two product lines and intellectual property, auctioned business assets, supervised successful national recall that impacted over 6,000 hospitals and medical service providers. Safeguarded all operational, financial, legal, and production records and eliminated obligations while avoiding bankruptcy.
Turnaround of Tony Award-winning, international theatrical touring company; Executive Director
Prior Executive Director defrauded an international touring theater of deaf and hearing actors, depleting all funds obtained from the US Dept of Education, National Endowment of the Arts, major foundations, and donors. There were no leverageable assets, except the intangible value of its impact on humanity and the arts. After three years, turnaround was completed, funding restored and years of federally questioned costs resolved. The creditors and donors accepted the restructuring and the theater then had its largest national tour in its 30 years of operations.
Turnaround/Sale of consumer product company; CEO and Turnaround Mgr.
Consumer product company with superior efficacy failed to penetrate market, resulting in liquidity crisis. Negotiated successfully with shareholders, creditors, technology licensor, bottler, and fulfillment operator. Arranged sale of company and assisted new owner in completing turnaround.
Turnaround of community hospital; Bank Consultant
A community hospital with years of operating losses was required by its primary lender to seek an independent opinion of leadership’s plans. The initial assessment led to an intervention that changed the primary service at the hospital to meet the local community's present and future needs, while eliminating expenses of underutilized services. The credit facility was subsequently continued and upgraded.
Restructured management of a carbon composite R&D lab/fabricator; Owner's Representative
Assessed management, strategy, and cash flow for product engineering and fabrication company unable to capitailize on proprietary technology. Reprioritized R&D, generating profitable business. Installed an industry executive to accelerate new sales strategy.
Stabilized business and developed exit strategy for engineering and construction firm; Interim General Mgr
Private equity firm was concerned about management and financial exposure of one of its holdings, a company that engineers and constructs heat treat furnaces in steel mills. Their profitability and liquidity issues centered around international contracts for projects that appeared to be improperly priced, managed, reported and controlled. After the financial and operational estimates and risks of its projects were projected, a path toward selling the company was approved and implemented.
Turnaround table linen cut-sew operation; Financial & Operational Consultant
Cut-sew operation without sustainable cash flow was in default of its primary lender's loan agreement. As bank consultant/advisor to this family owned business, obsolete and slow-moving inventory was liquidated through a pop-up retail strategy. This initiative funded inventory of profitable product lines which satisfied its lender.