Private Equity Services
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Interim CFO Services
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Turnaround & Restructuring
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Continuous Value Addition
Dallas Office – Home Services Industry, HVAC Company
Transitioned a PE-backed technology business in China from low margin commodity displays to high margin, multi-touch display panels serving the industrial, automotive, and medical markets. Led 20% reduction in manufacturing costs, EBITDA of 20%, and revenue doubling to $60 million. Implemented GAAP accounting procedures with two PE-owned companies, mentored controller, developed 5-year financial model, 13-week cash-flow forecast, and shortened close cycle.
– Healthcare Company
Successfully led financial operations through the turnaround & restructuring of a PE-backed healthcare company. Also provided interim financial guidance and litigation support associated with the restructurings of multiple distressed oilfield services companies and he performed a solvency analysis in preparation for fraudulent conveyance litigation.
Detroit Office – Automotive Aftermarket Manufacturer
Strategically resolved numerous liquidity, financial process, and planning issues to enable a $200M PE backed manufacturer to renegotiate debt levels in a process that was prepared for, but avoided, Bankruptcy. Operational actions included resolving cost structure issues that improved EBITDA from negative to 18% in one year. Also realigned/hired finance staff to be focused on the business for improved transparency and better controlled, more efficient processes.
Washington, DC Office – Financial Services Industry, Commercial Finance Company
Led PE owned specialty finance company as CFO, evolving accounting to true finance function, led company through a successful IPO, secondary offering, and multiple capital market and bank financings; financing strategy fueled 10x balance sheet growth in 5 years. Instrumental to REIT conversion, buy-side M&A, international expansion, spin-off, transition to regulated bank holding company, and successful acquisition.
Thomas A. Fink
Houston Office – Automotive, Food Manufacturer
Successfully turned around a $175 million PE-backed automotive remanufacturer of transmissions and engines with negative EBITDA and minimal business value. Achieved $37 million in EBITDA and sold the company for $191 million. Also successfully turned around a publicly-held food manufacturer and strategically negotiated the sale for 4x market value.
New York Office – PE-owned Nurse Staffing Business
As CRO, directed the restructuring and sale of a PE-owned nurse staffing business. As CEO, successfully increased the EBITDA of a PE-owned clinical research organization in one year from negative $4.4 million to positive $4 million pro forma. Additionally, served as CEO and restructured a PE-owned producer and marketer of nature-themed media.
Dallas/Fort Worth Office – PE Portfolio and Public Companies
As CFO, was instrumental in turning around and restructuring a $100 million PE-owned commercial printing company, a $40 million public medical device company, a $20 million PE-owned geospatial and aerial mapping services firm, and a $42 million public fabless semiconductor company.
Dallas/Fort Worth Office
– Dealerships – RV
Performed post-acquisition integration activities for PE owned RV Dealership relating to financial reporting, system integration, and process and procedure improvements. Implemented and managed all aspects of $100 million floor plan account. Led the dealer acquisition team’s transition from the incumbent floor plan provider to new provider at 10 sister dealership group locations.
Dallas/Fort Worth Office
– Software, Telecommunications, Healthcare, Logistics
Led PE backed software firm through transition, retained key customers, and achieved 10x EBITDA multiple (70% IRR) within 90 days of the transition. As CFO of PE backed wireless telecommunications provider, led consolidation and sale generating $70 million in value (50% IRR). Also performed 28 PE Firm road show, leading to business sale at 13x EBITDA and $80 million value. CFO of Logistics Company, doubled working capital and increased operating income from breakeven to $10 million, receiving multiple PE firm offers exceeding 14X EBITDA.
Chicago Office - Technology Products and Services including SaaS
Consulted turnaround of distressed PE-backed technology company (electronic products, SaaS offerings). Responsible for finance and accounting functions. Developed short-term and long-term integrated three-statement financial projections and was involved with weekly cash flow management and disbursement decisions. Reduced past-due A/R by 52% and improved the accuracy of financial records. Worked with investment banking firm preparing for and managing a successful sale.
Frank S. Wojtowicz
– Healthcare SaaS Company
As Interim CFO for growing PE backed SaaS business, initiated FP&A function and coordinated rolling forecast process. Assisted completion of audit and communicated complex issues with executive team and Board. Assisted recruitment of and transitioned permanent CFO into role. Provided insight and context of industry-wide SaaS metrics in relation to client’s business and as guidance for investment decisions.
Dallas/Fort Worth Office – Global Consumer Products Manufacturer
Prepared family-owned consumer products manufacturer or sale to PE firm, the family sold a 70% interest for 9X EBITDA. Remained or two years working with PE team to increase company’s value. Implemented new sale and operations process, changed management, upgraded ERP and inventory control system, improving inventory turns.
Chicago Office – Financial Services Industry
Implemented accounting and financial reporting operations and infrastructure as CFO and CRO for this PE backed startup insurance company, including a new general ledger system, statutory reporting software, and expense management system. Was part of the startup executive team responsible for establishing a relationship with a third-party insurance administration partner and launching the company’s first product.
Dallas/Fort Worth Office – Healthcare Industry
As CFO for health data provider, worked with lender and PE firm to provide appropriate liquidity. Collaborated with CEO and COO for cost reduction and drove revenue growth priorities. As CFO/CEO for provider of home medical equipment therapies, restructured operations, closed unprofitable locations and product lines, and sold the home infusion business. One year later, remainder of business was sold, completing the PE exit.
New York Metro Office
– Insurance Industry, Global (Re)Insurance Company
Led financial accounting and control aspects of a PE backed IPO as Group CFO for global insurance and reinsurance company. Built and maintained governance and reporting. Established internal audit and Sarbanes Oxley functions and readiness project. Accounted for complex capital and financing instruments issued during IPO. Established and managed investor relations and quarterly earnings calls.
Houston Office – Financial Services Industry
As Director of Finance for a PE owned title company, produced $2 million in cost savings with no change in service levels, refinanced $8 million in loans and reduced interest rates by 2%, saving $160K in annual interest expense. Also documented and cleaned up accounting processes, hired and trained quality staff, and reduced the time to close from three weeks to four days.
Dallas/Fort Worth Office – Food Industry
Oversaw finance, customer service, IT and human resources as VP Finance and Administration for PE owned manufacturer of custom food products. Consolidated departmental supervision into finance group and redistributed tasks, resulting in elimination of three full-time equivalent positions. Transitioned accounting functions into existing system of the purchasing company and worked with operations management to identify improvement opportunities in procedures and cost structures.
Dallas/Fort Worth Office – SaaS Company
Led as the founder and CEO of a technology company specializing in data backup, disaster recovery and business continuity solutions, producing significant growth in revenue, profitability, and customer service. Expanded operations across the United States and Canada and led its subsequent sale to a private equity buyer at 11x EBITDA.