Our CFO Partners boast diverse manufacturing backgrounds, offering unmatched expertise and success. They bring strategic and operational focus to streamline processes and drive sustainable growth, enhancing bottom-line results with their distinguished experiences.
Manufacturing
We Give You the Edge to Elevate Your Operations and Accelerate Your Growth
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Timely Financial Reporting
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Industry-specific Strategic Guidance
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Strategic Investment/CAPEX Planning and Forecasting
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Key Performance Indicators and Benchmarking
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Costing and Pricing
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Bookings vs. Revenue
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Transaction Preparation and Readiness
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Customer Lifecycle Valuation
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Inventory and Working Capital Management
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Lender/Vendor/Stakeholder/Board Relations
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Customer Product Profitability Analysis
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ERP & Data Strategy
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Onshoring/Offshoring Decision Support
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Capital Structure and Fundraising
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Production and R&D Tax Credits
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Tax Strategies
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Cash Flow Requirements and Analysis
Cash Flow Forecasting and Management
Do you have a revolving line of credit? Is your business in danger of running out of cash? We can help by forecasting cash flow and taking several appropriate actions before a liquidity crisis happens.
Customer/Products Profitability Analysis
Understanding which products, and which customers, are profitable or unprofitable is critical to your business’s sustainable success. • Do you know which products generate the most profit? • Are you selling products that are not profitable? • Do you have insight into the true profitability of each customer? SeatonHill can help you analyze product profitability including not only direct gross margin but also quality and warranty costs. We can help you determine which products deliver positive bottom-line results and which ones might be dragging down profitability. We can also perform similar analyses for customers, including shipping costs, returns, and other service-related costs. We will use this data to help you make informed decisions on your resource allocation strategy.
Deciding When to Invest in Capital Equipment
Do you have a method for determining when to invest in capital equipment? How do you forecast, and then measure your return on investment? We can help by analyzing proposed capital expenditures, determining the expected return on investment, and analyzing whether expectations were met after the investment was made.
ERP Analysis and Implementation
There are many risks associated with ERP implementations, but they often must be done when existing systems get outdated or simply don’t work. Integrating with existing processes and systems can be complex and highly challenging. Our CFO Partners have implemented a variety of ERP systems, and we can help in many ways, including managing the often significant customizations required to meet specific needs and assuring that costing, burden rates, and bills of materials are properly implemented. We will also help with the human element of change, including communication, training, and addressing resistance to changing systems.
Onshoring / Reshoring Support
Onshoring and reshoring are strategies that involve relocating manufacturing operations back to a company's home country from overseas, helping reduce reliance on foreign suppliers, mitigate risks associated with global supply chains, and reduce shipping times and costs. We can help your company successfully execute these strategies, ensuring you take advantage of any government economic incentives and capiltalize on other benefits.
Implementing
Cost Controls
Implementing cost controls in a manufacturing environment is essential for improving efficiency, enhancing profitability, creating value, and ensuring the long-term sustainability of the operation. Our seasoned CFOs have vast expertise in successfully leading and executing these strategies. From performing a detailed analysis of existing costs and adopting lean manufacturing principles to investing in technology/automation and providing continual training, we can identify, develop, and implement cost controls that not only reduce costs, but also improve product quality, enhance customer satisfaction, and help your company maintain a competitive edge in the market.
Meet Payroll and Maintain Liquidity
What do you do if you can’t meet payroll? Did you see it coming in time to be able to do something about it? We can help by providing sufficient warning and taking action to prevent a crisis.
Collecting and Managing Your Receivables
Collecting receivables is critical to your business's survival. What if Your Customers Don’t Pay You? What do you do? Have you examined the reasons customers pay slowly or not at all? Could you have seen this coming? We can help by staying on top of accounts receivable to monitor slow-paying customers and taking action to collect past-due amounts.
Effective Working Capital Management
Effective management of your Accounts Receivable, Accounts Payable, and Capital Expenditures is fundamentally crucial. Your cash is continuously flowing. Do you know where? Do you know why? We can help by effectively managing receivables, the effective timing of accounts payable disbursements, and appropriately analyzing proposed capital expenditures.
Brian Alleman
Partner
Dallas Office, Manufacturing and Technology Brian is a seasoned financial and operations executive and has served as Chief Financial Officer of numerous publicly traded and private companies. Brian has successfully raised capital, implemented investor relations programs, gained relisting on NASDAQ, achieved significant revenue growth, and returned companies to profitability. Key areas of experience include manufacturing, semiconductors, robotics, commercial printing, medical devices, professional services, consumer products, technology, and aerospace industries, with a heavy focus on capital, finance, manufacturing, operations, and supply chain. He has also served on the boards of directors for five public companies. As CFO for a medical device manufacturer in default of its senior debt agreement, Brian negotiated the release of the bank accounts and continuation of funding advances under the loan. He also negotiated a lease termination and new lease agreements with the landlord, which resulted in annual cash savings of $1 million and forgiveness of $15 million of future lease payments.
Roy Bowman
Partner
Houston Office, Ice Chest Manufacturer Roy’s lengthy career includes serving as a senior executive in all phases of financial management for companies in the manufacturing, energy trading, oil and gas exploration, pipeline construction, residential construction, mortgage lending, real estate, and automotive retail sectors. He is an expert at planning, organizing, and controlling the financial function of all-sized businesses. Roy is a proven leader and problem solver with highly developed analytical, communication, and strategic planning skills. He is consistently able to identify financial and operational systems needs and implement change to provide better management information. As CFO for the world’s largest manufacturer of ice chests, Roy played a key role in senior management presentations to potential buyers while the company was being marketed for sale. He restructured the accounting department to bring the reporting requirements to the Private Equity investor’s standards.
James Emmons
Partner
Dallas Office, Outdoor Products Manufacturer and Electronic Vehicle Manufacturer James is a proven Chief Financial Officer, with nearly 3 decades of experience, who drives strategy and execution to achieve results. His expertise lies in transforming business operations by improving productivity, implementing financial controls, optimizing supply chains, and developing and executing strategic growth initiatives. James is a proven leader with extensive experience in identifying and developing talent and high-performance teams based on trust, accountability, and collaboration. He is also well-versed in corporate governance and risk management through his experience as a board member and chairman of an audit committee. James has executed strategic finance and operational roles at companies large and small in various operating environments, including private equity-backed, family-owned, growth, and turnaround. His industry experience includes manufacturing, distribution, professional services, and construction. As VP of Corporate Strategy and Operations for a leading designer, manufacturer, and distributor of lighting and outdoor products, James managed daily operations and a UK subsidiary, including information technology, and supply chain functions. He also executed various strategic initiatives that encompassed business-to-business e-commerce, warehouse management system, and sales and ops process change management. James also led the implementation of a new product development strategy that resulted in 40% growth in 3 years and worked with the sales team to develop a new business acquisition program that increased leads by100% and grew sales by $3.5 million. He implemented inventory optimization software that reduced inventory carry by $2.5 million within 18 months. James also worked directly with investment bankers throughout a successful sell-side process that included the development of an offering memorandum, management presentations, and a due diligence and closing process. As President and CFO of an electric vehicle designer and manufacturer, James spearheaded the development and execution of a business plan that within 8 months, from start-up to successful operational launch, generated $3 million in sales. He was responsible for all day-to-day company operations, including production, research and development, supply chain, finance and accounting, and information technology. James recruited and led a world-class engineering and production team that developed innovative proprietary technology. James also managed several investor partnerships that resulted in the successful acquisition of venture capital.
David Gullickson
Partner
Dallas Office, Publicly Traded Steel Coil Manufacturing Company David has spent over 30 years as a key strategic leader, Senior Corporate Officer, Treasurer, Secretary, Certified Public Accountant, CFO and international advisor with public and private entities. With specialized expertise in Oil & Gas industry companies, David has managed complex international corporate and partnership and jurisdictional and tax structures with market capitalizations of $100 million to several billion dollars. His industry experience includes manufacturing, software, technology, petroleum, oil exploration, tribal sovereign nation, chemical refining, and marketing. David’s specialties include multi-level analysis and forecasting and modeling of cash flow and profitability. David served multiple leadership roles (CFO, Treasurer, VP or Finance and Administration) for a leading manufacturer of steel coiled tubing for use throughout the world in the oil and gas exploration, production, and service industry. He collaborated with venture capital shareholders and the senior management team to build and expand the company and develop liquidity for its stock, anticipating corporate business trends to alert the board and operating management, and proposing management and operating strategies to address various economic and business situations. David also advised direct sales and operating management about the economic ramifications (customer needs, working capital, liquidity, company market valuation) of business decisions. He delivered timely and relevant financial and management reports to all levels of management and to the Board of Directors, as well as directed and supervised financial, tax, administrative, and basic legal functions for an international group of 6 companies manufacturing products for the oil and gas industry. He also directed corporate network information systems, treasury, finance, accounting, taxes, and internal and external audit functions, restructuring lending facilities to finance the establishment of manufacturing and service plants in Canada and the United Kingdom to serve clients in the North Sea, Mideast, and North Slope of Alaska.
Rick Ivey
Partner
Fort Worth Office, Consumer Goods Manufacturer and Leather Hide Tan Manufacturer Rick is an experienced CFO with proven results in multiple industries, including manufacturing, nonprofit, engineering, and retail. During his tenure, Rick has managed finance, accounting, IT, insurance, and risk management for multiple clients. He has assisted in the acquisition of numerous companies, worked with clients to develop appropriate borrowing levels, and then helped them to successfully negotiate with lending institutions to secure financing. In all cases, Rick assumes the role of Trusted Advisor with a focus on improving the financial, operational, and strategic trajectory of each client. As CFO of a manufacturing and consumer goods company, Rick developed a budget and forecasting system that improved net income by over 30%. He also restructured all costing systems which optimized the company’s ability to track product profitability. As CFO of a leather hide tan manufacturer, Rick helped turn a large monthly operating loss into a large monthly operating gain within a single quarter. With Rick’s leadership, the company has produced record net operating income for three consecutive months and has four separate companies and four plants.
Mark Kerr
Partner
Houston Office, Commercial Welded Wire Manufacturer and Manufacturer/Distributor of Mobile Video Recording Systems Mark is a seasoned Financial Executive with over four decades of experience. Starting his career with a Big 4 Accounting firm, Mark has broad expertise in financial reporting, accounting, acquisitions, operations, strategic planning, and human resources. Having served as CFO for multiple organizations, Mark has led strategic finance initializes, both domestic and international, that streamline operations and enhance growth. He is a well-versed and dynamic leader, with success across a broad range of sectors, including manufacturing, real estate, multi-location retail, and financial services. As Controller of a welded wire manufacturer, Mark completely overhauled accounting, financial reporting, budgeting, bank debt, administrative, logistics, human resources, IT, risk management, production reporting systems, and processes & procedures. He implemented an ERP Enterprise Level Manufacturing system from a start-up perspective. Most notably, Mark successfully refinanced real estate and working capital lines of credit adding 35% to available funds and the completed first company audit in 40 years. As Controller for an international manufacturer of mobile video recording systems, Mark streamlined Financial Reporting for both internal and bank reporting, reducing production time by 60%. He developed a Complete Corporate Financial Model for budgeting and bank debt compliance.
Duane Prentice
Partner
Dallas Office, Headwear Manufacturer, Musical Audio Systems Manufacturer, Agricultural Equipment Manufacturer, Automotive Tier1 Parts Manufacturer Duane is a general and financial management executive with over 30 years of experience. He has expertise in business turnarounds, process improvements, and start-up operations. Duane has a proven ability to lead organizations by providing a focus on defining effective business models, prioritizing key initiatives through strategic and tactical planning, monitoring and ensuring the accountability of business progress through balanced scorecards, and executing effectively through both individual and team efforts. He also has a demonstrated capability to lead due diligence reviews and facilitate the successful sale of businesses. As CFO of a headwear manufacturer, Duane directed global finance and accounting, credit and collections, human resources, and IT functions. He drove business and financial turnaround initiatives involving Quality, Supply Chain, Manufacturing, and Warehouse & distribution functions. He developed a Quality Management System (QMS) and directed critical manufacturing equipment rebuilds and retrofits, resulting in improved throughput and reduced quality costs that lowered external quality defects (PPM) by 70%. Duane also implemented LEAN manufacturing improving throughput and driving down manufacturing performance variances in 3 manufacturing facilities. He facilitated a focused supply chain process that enhanced supplier on-time deliveries, and reduced inventory stockouts. Duane also implemented a new Warehouse Management System (WMS), including significant business layout changes, that enabled a 50% increase in customer shipments. He drove significant improvement in customer on-time deliveries from below 50% to 90% and annual revenue increases of 300%, which increased EBITDA from $0.9M to $18M, enabling significant CAPEX improvements and dividend payments to ownership. As CFO for a musical audio systems manufacturer, Duane directed finance and accounting, credit and collections, IT, and supply chain functions for this privately held global company with $100+ million in revenue. He led the development and execution of a business turnaround of this company resulting in improved operating income of $7 million in the first 15 months despite lower YOY sales, reducing losses by 50%, through reductions in overheads, supply chain material cost reductions, and lower manufacturing performance variances. Duane established key strategic/tactical business focus areas to drive business optimization. He also improved working capital by increasing AR collections and lowering inventory levels, enabling supplier payables to become current for the first time in years, and enhancing supplier relations. As President & CFO for an agricultural equipment manufacturer, Duane led sales and marketing, operations, engineering and procurement, finance and accounting, HR, and IT functions for this private equity-owned portfolio company with full P&L responsibility of $180 million. He directed a business turnaround and positioning of the company for sale to new ownership. Duane enabled break-even EBITDA for a business that had lost $100 million EBIT over the preceding 4 years and generated a $23 million positive free cash flow through P&L and working capital improvements, including a decrease in inventory from $45 to $30 million and A/R from $80 to $60 million. Duane also reduced overhead costs by 40% ($35 million) through a renewed focus on business cost structure. He saved $7.6 million annually, reduced material handling costs by 50%, and improved operational efficiency by 30% after consolidating operations from 8 separate buildings to a unified campus of 4 buildings. He rationalized 20 models, identified standardization of 1,000 SKUs, and defined manufacturing postponement strategies to standardize and reduce the complexity of 30 models. He identified key areas to focus on in his first 2 months as CFO, presenting turnaround plans to the private equity BOD. As Director of Finance and Administration for an automotive tier 1 parts manufacturer, Duane directed finance and accounting, supply chain, customer relations, HR, and IT functions. He led business plan development as well as forecasting, general and cost accounting, treasury and risk management, monthly and annual closes, and external audit coordination. Duane also oversaw purchasing, inventory level management, scheduling, and logistics. He saved $2.7 million in direct labor costs and nearly $1 million in excess freight costs by refining and re-implementing an OEE system that increased equipment effectiveness by 50%. Duane reduced inventory from $8 to $2 million over 18 months through JIT management practices, lowered material stockouts from 30+ per month to less than 3 per month, and improved inventory accuracy to 92%. He negotiated a complicated customer and supplier cancellation claim that generated a $1.1 million benefit for the organization and improved cash flow by $1 million after negotiating capital lease lines of credit.
Scott Ward
Partner
Minneapolis Office, Metal Manufacturing Company and Power Equipment Manufacturer Scott is a seasoned executive who leads small businesses to profitable growth and stronger valuations. He also serves as an advisory board member, and individual coach, and facilitates Trusted Advisor Groups that help business leaders grow their business influence. Scott transforms and aligns leadership teams to exceed market value, sales, and operational targets, challenging the paradigms that limit the success of the organization, and creating an ownership culture. He has broad experience in various sectors of manufacturing: automotive parts, aerospace, factory automation, medical devices, air compressors/pressure vessels, construction materials, motors/generators, food service goods, etc. Scott served as President/owner of a small manufacturing business that crafted stainless steel fixtures in a niche market for restaurants, commercial kitchens, and other industries. Under his leadership, assets were sold after experiencing 300% growth in 6 months and a Net Promoter Score of 56% was achieved. As CFO/EVP (and minority owner) of a custom motor/generator manufacturer, Scott led sales growth, productivity improvements, inventory reduction, and reduced employee turnover while enterprise valuation increased 600%. He also spearheaded the transformation to 100% ESOP. He has also served on several ESOP boards. Scott was also the team lead for international negotiations in Europe and China and was a key team member for corporate-wide (4 facilities) ERP implementation, and several other ERP implementations. He was part of the leadership team awarded MN Business Ethics Innovation and Achievement.
Frank Wojtowicz
Partner
Chicago Office, Retail Display Products Manufacturer, Industrial Transformer Manufacturer, Hair and Beauty Products Manufacturer, Electrical Products Manufacturer Frank has over 25 years of experience as a hands-on financial executive, operations executive, and turnaround management consultant, including P&L responsibility. He has worked with several types of ownership structures including private equity, ESOPs, family-owned, and privately held entities. Frank has demonstrated successes in financial and operational improvements, cost reductions, financial forecasting, business process re-engineering, cash flow improvement programs, the introduction of planning and control systems, and enhancing the accuracy and practicality of financial reporting and cost accounting systems. He is experienced and highly effective in working and negotiating with customers, suppliers, lenders, creditors, and employees. Frank served as VP & CFO for a retail display products manufacturer. For this $100 million financially distressed multinational ESOP, Frank assisted with the financial and operational turnaround of the company. During this turnaround, revenues increased by 36%, EBITDA increased from negative (3%) to positive 20% of revenues, and the ESOP share price increased by 759%. He also improved the current (working capital) ratio from 1.3 to 3.1 and repaid the $15 million line of credit in full. Frank created and maintained a full budgeting system, standard product costing system, and weekly and monthly financial analytics that previously did not exist. He coordinated all financial issues during the sale of the company to private equity. As Interim General Manager for this $25 million family-owned industrial transformer manufacturer, Frank was retained to manage a short-term financial crisis for six months during a period of executive turnover and transition. He developed and instituted a new pricing methodology which improved gross margins by 9%. Frank also reduced salaried headcount by 16% and instituted working capital initiatives which improved the current (working capital) ratio from 1.7 to 2.0. As a result of these initiatives, EBITDA and net cash flow both increased from negative (5%) to positive 3% of revenues. He completed the assignment by transitioning responsibilities to the new President. For a hair and beauty products manufacturer, Frank was retained by the secured lender to review and analyze all court documents and financial information of this $40 million company operating under Chapter 11 bankruptcy protection. He provided financial viability information and testimony in Federal Court as an expert witness. This expert testimony assisted with the appointment of a bankruptcy trustee by the U.S. Trustee. As Manufacturing Operations Manager for a $175 million electrical products manufacturer, Frank was hired to improve the operational results. Within two years, manufacturing productivity was increased by 64%, on-time deliveries were improved from 89% to 98%, and the inventory turnover rate was increased by 16%. Frank also had overall responsibility for transitioning the company to a state-of-the-art ERP system.
Will Baccich
Partner
Dallas Office, Gas & Oil Drilling Equipment Manufacturer Will is an experienced financial and operational strategic planner who has served as Chief Executive Officer, Chief Operating Officer, and acting Chief Financial Officer at multiple privately held mid-size companies. He is passionate about creating a culture of strengths, where team members are positioned to succeed and drive results. Will is dedicated to fostering a collaborative and inclusive workplace that values innovation, accountability, and transparency with a focus on results in the form of EBITDA growth and value enhancement. Among his many accomplishments, Will led the successful business and financial strategies that ultimately that resulted in a sale to a private equity buyer. Will is frequently sought after by CEOs, Founders, and Mergers and Acquisition firms to support their financial and executive team strategies. As a consultant for a manufacturing company that specializes in the production of drilling equipment for the oil and gas industry, Will was integral to the design and implementation of the systems to support the Theory of Constraints (TOC) methodology used to improve manufacturing processes and optimize production capacity. This implementation included identifying the constraints in its production process that were limiting overall performance, creating a focus on improving the identified constraints by applying the TOC methodology through analyzing the process flow, identifying the root cause of the constraints, and implementing targeted solutions to overcome them (including the implementation of a synchronized production system, where production was synchronized with customer demand). He also implemented a system of continuous process improvement that regularly evaluated the production process to identify areas of improvement; this involved measuring performance metrics, such as lead times, throughput, and inventory levels, to identify opportunities for improvement and implement targeted solutions. The overall project led to growth in revenue from $10M to over $100M along with matching growth in earnings.
Peter Collins
Partner
Madison Office, International Manufacturer of Industrial Products. Peter is a financial executive and CPA with global experience in strategic and organizational planning, risk management, treasury management, tax planning, and mergers & acquisitions. He began his career with a Big 4 Accounting Firm and is experienced in the manufacturing, distribution, real estate, and construction fields. Peter is a practical problem solver and leader who combines thorough research and logical thinking to make decisions and achieve established goals.
Kevin Grady
Partner
Atlanta and Detroit Offices, Air Filter and Performance Product Manufacturer Kevin has over 40 years of executive experience in Operations and Financial leadership roles with high-profile entities including Millipore Corporation, Mando Corporation, and Inteva Products LLC. Kevin has extensive international experience and a track record of achieving cutting-edge results in challenging global environments, with time spent in Japan, China, and Korea where he worked with automotive Tier 1, bio-pharmaceutical, and food and beverage industries. Areas of expertise include human resource realignment and infrastructure investment strategies that incorporate working capital and IT to improve cost-effectiveness and address short and long-term business needs. As CFO of an air filter and performance product manufacturer, Kevin was brought in to turn around and restructure the operation. He filed bankruptcy for negotiation leverage, resulting in closing a deal with $770M of cash invested in the business. The restructuring solved for a company worth ~$250M (meaning a $200M revenues company wiped out ~$500M of cash invested). This deal resolved one of the primary strategic issues, owners paid ~2X for the company and placed too much debt on the balance sheet. Kevin oversaw the VP CC promotion to interim CFO. He also coached and stabilized the team through the process, they now have, including a detailed, operations-driven budget that is actionable, audit and related valuation work progressing, and a roadmap and solution set to resolve the key finance system issues, and eventually generate additional cost reductions (Net system cost when completed to be less expensive than the current patchwork).
Mary Lay Hoitt
Partner
San Diego Office, Storage Device Manufacturer, Medical Device Manufacturer, Manufacturer of RF Subsystems and Synthesizers, and Software Manufacturer Mary is an accomplished executive with over 25 years in CFO and VP of Finance roles serving both public and private firms, from early-stage start-ups to global companies, with annual revenues of over $300 million. Mary has restructured and turned around numerous distressed entities, including 3 mergers and 1 management buy-out within the U.S., 8 acquisitions, and 3 divestitures for European and South American corporations. She has successfully raised more than $50 million in PIPE financing for several public companies and over $20 million of equity capital for various private firms. As Interim VP of Accounting for a NASDAQ publicly traded storage device manufacturer, Mary restructured the accounting department to improve the accuracy of financial records, developed better communication between departments, implemented budget processes, streamlined the close process to accommodate XBRL timing restrictions, implemented electronic expense report process and approvals, implemented payroll system worldwide, handled cash-flow until additional funds could be raised, reduced expenses worldwide, and managed the audit process worldwide. As Interim CFO for a NASDAQ publicly traded medical device manufacturer, Mary was charged with aligning operations for turnaround and positioning the company for growth mode. She led all areas of finance, accounting, investor relations, human resources, IT, legal, and operations. Mary managed and developed 5 direct reports, including the Controller, the Director of HR, the Director of Production, an Executive Assistant, and an Internal Auditor. She administers an annual budget of $12 million, reconciled balance sheet accounts, and reviewed and revised Company policies. Mary also developed and implemented budgeting processes and internal controls for compliance with Sarbanes-Oxley; prepared 3 and 5-year projections; directed SEC reporting; and reduced expenses. She restructured $10 million debt and equity financing and $2.5 million debt that was in default. Mary secured an additional $1.7 million in operating capital. She initiated and implemented controls for cash, expenditure approvals, contract approvals, and purchase orders. Mary reconciled equity, including stock options, warrants, and common stock, to documentation and Board minutes. As CFO for this Manufacturer of RF subsystems and synthesizers (for defense contractors, military, and commercial applications), Mary drove company restructuring to prepare it for sale. She directed all finance, accounting, HR, and administration functions. Mary managed and maximized an annual budget of $15 million. She led and developed 2 direct reports, including Controller and Executive Assistant and oversaw regulatory compliance and government contracts. Mary slashed operating expenses by 40% in 1st year and improved gross margins by 12%, restructuring debt and negotiating terms more favorable to the Company. Mary consolidated manufacturing facilities into one location, secured a $5 million operating line of credit, completed debt and corporate restructuring, and negotiated a sales tax settlement with the State of California. As Director of FP&A for this NASDAQ publicly traded software manufacturer, Mary managed a worldwide budget of $250 million for a software Development Company emerging from bankruptcy and reported results to the Board of Directors. She led 12 analysts from Corporate, Europe, South America, and Asia in the performance of reporting and variance analyses. Mary prepared 3-year projections and a quarterly package for the Board of Directors. She reduced budget time by 50% from 4 months to 2 months, improved forecasts of project expenses by initiating and implementing a rolling budget, and spearheaded the implementation of budget software to incorporate budget results into accounting software (SAP) to generate reports for analysis.
Gene Jones
Partner
Houston Office, Drivetrain Remanufacturer For over 35 years Gene has served in various executive roles including Chief Financial Officer, Chief Operating Officer, Corporate Treasurer, and Controller for public, private equity, venture-funded, and start-up companies. He has a long history of helping firms of all sizes with financial management, IT, human resources, risk management, and technology services. Key verticals served include technology services, manufacturing and distribution, retail, restaurants, law firms, litigation support services, and physician practice management. Areas of focus include companies in transition, especially those challenged by leadership changes or process remediation, and companies in need of emergency funding or fraud detection and investigation. Gene’s extensive experience includes 10 years with KPMG where he managed hundreds of engagements, the implementation of over 40 M&A transactions, and leading the sales process for six different private equity firms. As CFO for the Private equity-owned largest independent remanufacturer of in-warranty transmissions in the world, Gene achieved a remarkable turnaround in profitability and liquidity in the first year, going from break-even profitability and negative cash flow to over $20 million in EBITDA in 2016 and $28 million in 2017, leading to the sale of the company, and demonstrating 20x increase in valuation of the business in two years.
Cindy McSpadden
Partner
Dallas Office, Custom Food Products Manufacturer and Hydraulic Fracturing Tank Manufacturer Throughout her three-decade career, Cindy has served in senior financial executive roles leading various company functions such as finance, customer service, IT, operations, and HR. She has extensive experience consolidating and streamlining disparate company accounting systems, departments, and processes, with emphasis on entities undergoing restructuring, merger, IPO, or delisting. Cindy spent over ten years in public accounting, six years within a private practice providing fractional controller and CFO services for numerous clients, and four years in financial services consulting where she provided M&A integration and turnaround services. As CFO for a manufacturer of custom tanks for the hydraulic fracturing industry, Cindy was responsible for budgeting and rolling cash flow projections, SOX audits, and monthly/quarterly reporting to the board of directors. She coordinated with the corporate CFO to complete the consolidation for SEC reporting and developed accounting procedures that brought the company into compliance with SEC reporting and control requirements. Cindy improved company banking relationships resulting in reduced fees and fewer audits, and she implemented the Syteline ERP system, which increased gross margin from 13% to 17% as a result of improved cost visibility. As VP of Finance and Administration for a manufacturer of custom food products for restaurant and institutional settings, Cindy oversaw finance, customer service, IT, and human resources. She consolidated departmental supervision into the finance group and redistributed tasks, resulting in the elimination of 3 full-time equivalent positions. She also transitioned accounting functions into the existing system of the new purchasing company and worked with operations management to identify opportunities for improvements in procedures and cost structures.
Paul Schenian
Partner
Dallas Office, Publicly Traded International Banking Equipment Manufacturer, Publicly Traded, International Manufacturer/Distributor of Aerospace/Transportation Products Paul is a hands-on financial leader with extensive experience in FP&A, budgeting, forecasting, financial analysis, and KPI development. He has directed finance and accounting teams in companies ranging from start-up to $600 million. Paul has a results-oriented leadership style with experience as a CFO, Vice President of Finance, Finance Director, and Interim President / Managing Director. He is a goal-oriented multi-tasker who inspires, mentors, and guides teams to deliver exceptional results, consistently achieving high employee satisfaction survey results. Paul’s deep background spans an array of sectors including, Manufacturing, Industrial Supply, Aviation, Telecommunications, Technology, Energy, and Agriculture. Paul served as Director of FP&A for this $250 million banking equipment manufacturing division of a $3 billion publicly traded international firm. He managed the financial planning and analysis (finance), annual operating / strategic plan cycles, and monthly forecast/results analysis process. Paul performed due diligence and financial modeling that provided senior management with the information necessary to complete two successful acquisitions. He achieved acquisition integration savings of $575k by identifying redundant staff positions. As Managing Director (Interim) / Director of Finance & Operations / Director of Finance, Paul managed financial planning and analysis (FP&A), controller (accounting), and other key support functions (maintenance, contracts, market research, and sales support) for this $600 million ore-owned aircraft division of an international aerospace and transportation manufacturer. He owned direct responsibility for tracking trade-ins, establishing asset values, managing maintenance work packages, establishing selling prices, and managing the sales process. Paul also managed the trade-in/resale of over 700 business aircraft worth more than $6 billion. He created a trust-based atmosphere which led to the highest employee survey ratings in the group. Paul also implemented daily communication meetings to ensure that all functional areas remained aware of key issues, priorities were understood, and resources were reallocated, if necessary. As the head of finance, he was responsible for budgeting, forecasting, month-end closes, deal analysis, and financial reporting. Paul redesigned the annual budget process, saving 2 weeks during the cycle, and re-engineered the forecasting/results analysis processes, resulting in 3 days of savings per month. He also streamlined the management reporting process, saving 4 days of processing time per month; and reduced the monthly report from 84 pages to 20 which yielded easier-to-read formats.
Ken White
Partner
Houston Office, Emerging Technology Manufacturer For over 35 years, Ken has served in various executive roles including Chief Executive Officer, Chief Operating Officer, and Chief Financial Officer of public, private, emerging growth, and international companies. He has extensive experience overseeing all aspects of financial management, operations, sales & marketing, IT, and human resources for small and large middle-market companies. Industry focus includes manufacturing & distribution, energy services, transportation, communication and commercial real estate & mixed-use development. As President and CEO for an early-stage manufacturer and distributor of newly designed and patented technology, Ken established manufacturing relationships in China, South America, Mexico, and the U.S., and secured sales representatives and distributors in thirty U.S. states and three Canadian provinces. He consummated private placement funding through a convertible debt facility and several Series A preferred stock issuances and eventually sold the company to several billionaire investors. As CFO for a $400 million international manufacturer of commercial carryout bags and flexible packaging products, Ken oversaw the conversion and integration of a new generation ERP system and manufacturing production system along with implementing process improvement initiatives within the accounting and finance function.
Chicago Office, Manufacturer of Energy Systems, Biotech Manufacturer, Hardware & Software Manufacturer, Manufacturing Subsidiary in Ukraine (all publicly traded) Steve has spent more than 25 years as CFO, CEO, and advisor with public, private, and private equity-owned companies with revenues ranging from start-up to $30 billion. He has led over 20 transformation, turnaround, and M&A initiatives, has held board chairmanships, finance and investment committee seats, and served as interim CEO and country manager. Steve’s industry experience includes manufacturing, healthcare, SaaS, construction, professional services, financial services, human services, and non-profits. Steve Led the recapitalization of a venture-owned lithium-ion battery manufacturing operation. The venture debt holder had threatened foreclosure, margins were extremely low in high-value-added prototype contracts and the company had negative cash flow. He completed the restructuring and recapitalization and gave the new majority owner a platform for long-term profitable growth and strong ROI. Steve also led the conversion from QuickBooks to NetSuite, fully integrating all functions around effective corporate performance management and key operating metrics, leading to a 20% increase in net cash flow. Additionally, Steve led the business case development and board-level review of a $300M investment in a joint venture to build a commercial demonstration manufacturing facility. After leading the due diligence and roll-out of all financial and reporting processes in compliance with GAAP and IFRS, he served as Treasurer of the joint venture, providing sound cash stewardship and supporting construction completion on time and under budget. For a publicly traded hardware and software company, Steve grew SaaS revenue by 30% through internal investment in new products and acquisitions. He also led a cross-border acquisition of a $15M software manufacturer, designed financial metrics for product innovation, and drove the implementation of forecasting, analysis, and procure-to-pay systems. For a publicly traded manufacturing subsidiary in Ukraine, Steve led the turnaround of the company, which was struggling following the Asian financial crisis, resulting in significant currency devaluation, subsequent inflation rates of 20%, and negative cash flow. He led the team in saving this company from closing and today the subsidiary is the market share leader.
Bob Zimmer
Partner
Chicago Office, Small Cap Manufacturer Bob is a proven, results-driven change agent who achieves positive financial results through operational focus and a hands-on tactical approach. He has over thirty years of operational and financial management experience in manufacturing, distribution, OEM and aftermarket automotive, food & beverage, industrial & consumer products, printing & packaging, SAAS, social media, health care, and senior care. Bob has served in C-level positions in middle-market privately held, NASDAQ-listed, private equity ownership, and not-for-profit organizations. As CFO and Treasurer of a $100 million financially distressed medical devise plastic packaging manufacturer, Bob led the financial and operational turnaround of the company. The company was experiencing eroding margins resulting in negative cash flows and ownership chartered management with orchestrating a turnaround that would most effectively position the company for sale. Bob completed the turnaround within thirty months, culminating in the company’s sale and a 150% return to ownership.
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