Highly Engineered Plastic Injection Molding Firm 

Engaged by the owner / operator of a financially troubled $40M company that designs and manufactures a variety of highly engineered plastic injection molding products and assemblies for a wide range of industries. The company had suffered significant losses and faced losing 15-20% of its revenues with the closure of the Nummi automotive assembly plant in Northern California. We turned $1M+ losses in 2008 and in 2009 into a trailing twelve month profit of greater than $1.3M; grew sales more than 20% despite the loss of Nummi revenue; and negotiated extensions with the special asset division of a major bank. Results included full pay out to the senior secured lender and a new lending arrangement with a new senior lender. All results were attained without a need for incremental capital.

Home Construction Granite Composites Firm 

Engaged by the board of a troubled $12M company that sells granite composite products and equipment for use in home construction markets suffering from significant sales declines and financial losses over a five year period. We engineered a rapid turnaround to profitability, engineered extension agreements with the senior secured lender, and secured incremental funding from an asset based lender to support a rapid turnaround in sales resulting from a re-focus on sales and growth for the company.

 

 

 

 

 

 

 

 

Photo / Print Binding Machine and Consumables Firm 

Engaged by the owner / operator of a financially troubled $20M company that designs and manufactures a variety of desktop binding, printing, and photo-press machines, along with consumable products, to a worldwide customer base. We turned a consistent 20% loss in the prior year into a sustained 10% profit within four months; improved EBITDA from -10% of sales to 17.5% on a sustained basis; became cash flow positive by month three; and reduced vendor and lender obligations by 40% within 9 months. After negotiating 2 extensions, the special asset based senior loans were refinanced, via full payout, into the standard loan group of a major senior lender. Lastly, we changed out more than 75% of the management team to ensure sustainability of the culture shift implemented. All results were attained without a need for incremental cash.

Security Systems Integration and Service Firm

Engaged by the physically ailing and largely absent individual owner to turn around a deeply troubled $30M company that was in default to its bank, unable to purchase product, and in danger of defaulting on a number of high profile public projects. We effected a rapid return to profitablity, collected more cash in 3 months than had been collected in the prior 12 months, stablized banking and supplier payment issues, and improved margins by 200% on a sustained basis; all within 3 months. We also ensured points of accountability were defined and in place for each office, project, and point of service; setting the stage for future success as the owner returned from his ailment. All results were attained without a need for incremental cash. 

Software

Engaged by the board as a 'crisis manager' to assist this troubled software company that was in default to one senior and two mezzanine lenders, following a period of rapidly declining sales. We re-negotiated loans and paydown schedules, tied to a new control equity infusion brought into the firm. This paved the way for a sales increase from $16M to $60M, and a surge in operating margins, along with a rapid return to profitability.

Professional Services (Commercial Real Estate Brokerage)

Engaged by Board as the effective CEO, CFO and COO of a commercial real estate brokerage company growing from $30M to $85M in one year. We implemented new management, organization, accounting and legal structures. We stabilized cash flow to ensure long term success, and accomplished this growth without a need for incremental cash. We then hired a seasoned industry executive as the permanent CEO of the company on a go-forward basis.

Consumer Products

Engaged by private equity fund as the CEO of a candle company selling branded and private label product to high end retail and mass distribution markets. The company was signficantly cash flow negative, required substantial monthly cash infusions from the equity fund, sales were rapidly declining, and customer quality and return rates were in dismal shape. In a 9 month period, we grew sales by 1500% per month, eliminated 2 layers of management structure, grew operating margins by more than 200%, sold a significant amount of dormant inventory and equipment for cash, eliminated the need for incremental monthly cash infusions from the equity group, and eliminated customer quality issues. Company assets were sold at the end of month 9. 

Automotive Aftermarket

Engaged by private equity fund as the CEO to effect a rapid transition in a deeply troubled automotive aftermarket company that required monthly cash infusions from its owner and was in default to two banks. We rapidly returned the company to profitablity, generated positive cash flow, established and met bank and vendor discount and paydown schedules, and increased EBITDA margins by 400% and monthly sales by 20%; all within 4 months. We then hired a seasoned industry executive as the CEO at month 6. The company attained these results with only $40K in added funding, which was required to solidify $400K in vendor discounts.

Contract Manufacturer

Engaged by private equity fund as the CEO of a contract manufacturer purchased out of bank foreclosure. We improved gross and operating margins by more than 300%, improved quality and on time delivery by 350%, and stabilized cash flow; all within three months. We then positioned the equity fund to sell the company after 2 years for a 30+% IRR in a deeply challenged market in Silicon Valley.

Specific references provided upon request.