Serving as Interim CEO and Providing Turnaround Advisory

• Served as interim CEO for one year and led the management team through all strategic initiatives and restructuring successful turnaround of its operations.
• Placed significant focus on talent and culture.
• Replaced four of seven plant managers, recruited two highly qualified industry veteran senior executives to head Sales and Marketing, and ultimately recruited an industry veteran CEO.
• Developed a dynamic five-year financial projection, completing a bottoms-up revenue forecast by customer by product line.
• Assessed and incorporated the impact of several strategic initiatives including select plant consolidations, disposition of certain business units, and a debt refinancing.
• Completed detailed assessments of strategic initiatives, which included the Company’s first ever measurement of demonstrated efficiencies, intensive evaluation of capacity constraints, footprint and tooling optimization analyses, and prioritization of required capital expenditures.
• Led the finance team through an implementation of liquidity management procedures to improve cash and vendor management during a challenging liquidity period.
• Led negotiations with the Company’s senior lender and negotiated a significant equity investment from the existing shareholders and concurrently an amendment to the Company’s credit facility.

As CEO and financial advisors our team led a turnaround of the Company’s operations that included a 20% improvement in labor efficiencies, consolidation of two of the company’s nine manufacturing facilities, 20% reduction in inventories, and overhauling of the management team – all while facing declining EBITDA after the loss of a key customer and deterioration in operations.