Compression Molder of Industrial / Consumer Products, $60mm annual revenue, 500 employees
As CEO & President, led the acquisition and growth from $17 million in sales to more than $50 million. Including the turnaround, restructuring and $25 million refinancing of this midwest compression molder with three companies. Developed turnaround plans, negotiated extended vendor terms, won union concessions, obtained sales price increases, replaced management team, re-sourced raw materials to China, negotiated manufacturing in China. Liquidated loser division for maximum value.
Electrical appliance manufacturer, $200mm annual revenue, 3,000 employees
For $200 million electrical appliance manufacturer restructured multi-site manufacturing operations. Shut down and relocated 1,500,000 square foot appliance manufacturing plant with more than 3,000 major pieces of equipment and several thousand employees. Managed and designed of a 50,000 square foot electric frying pan manufacturing line. The program encompassed the preparation and retrofitting of the receiving facilities, the relocation and start-up of equipment, transfer and training of personnel, sourcing and scheduling of parts, and the decommissioning of the abandoned facility.
Health Products, $1B annual revenue, 3,000 employees
For a leading manufacturing of health care products, managed an operations improvement and cost reduction program in a large manufacturing plant with 3,000 employees. The first phase, low capital program, resulted in $7.5 million dollar annual cost reductions with 40% labor savings. Second phase capital program led to an additional $5,000,000 in annual savings and a 66% reduction in labor costs.
Machine Tool Company
Assisted this leading Romanian specialty machine tool company with 3000 employees in developing a competitive business strategy to respond to changing industry and world markets. Assessed the competitive and technical capabilities. Developed new product lines and marketing channels. Provided a new organizational structure to execute the growth plans
Middle Market Specialty Electrical/Electronic Products Manufacturer
Developed a growth market strategy and business plan for this leading electronic EMF shielding company. Analyzed customer demand and conducted customer interviews for completive evaluation. Identified new product lines and established business plans and objectives. Developed organization changes and new job descriptions to support ne strategy and established perfor4mance goals.
Middle Market Aerospace and Military Component Fabricator
Assisted this leading aerospace component and wire harness manufacturer diversify into other markets. Identified growth markets, defined areas of opportunities of business potential. Reviewed the strengths and weakness of manufacturing and fabrication capabilities. Established new business plans and implementation schedules. Conducted training, planning, implementation meetings with management.
Aerospace & Satellite Company, $45mm annual revenue
Led the acquisition, due diligence, financing, of this California based Aerospace Engineering and Satellite company. Provided subsequent refinancing, reorganized the management organization, while growing this sales level from $15 million to over $45 million.
Cookware Manufacturer, $100mm annual revenue
During six-month period provided M & A services to management and equity group for LBO of a $100 million national manufacturer of cookware. Advised management, brought in equity group and New York financial institution, negotiated with sellers, prepared offer. Group was out bid by public company flush with cash from recent divestiture. Subsequently, introduced and brought a $200 million paper products company to equity group which acquired this company.
Specialty Retailer, $120mm annual revenue with 500 employees
For a large private equity partnership, served as CEO of this national specialty retailer with 500 employees in 25 locations. Led the company through a restructuring, Chapter 11 process, and subsequent sale of this business
Specialty Fabricator and Contractor, $30mm annual revenue, 230 employees
As CEO of this major mid-western fabricator and installer of fire protection systems and sprinklers, reduced heavy operating losses, consolidated operations, restructured the organization of five offices and 230 employees. Negotiated short-term agreement with three institutional lenders for time to workout the situation. Developed and initiated a plan to maximize recovery of value to creditors and owners. Sought out three competitor companies to bid against each other to purchase the business assets. Sought out bids on the company’s sizable real-estate holdings. Negotiated exit agreement with ownership and banks, sold the business as whole operating unit, and retained 80% of employment.
Industrial Lubrication Products Company, $230mm annual revenue
During a twelve month improvement program for a $230 million multiple site industrial company, implemented operations improvements including consolidation of multiple order entry and distribution centers into five regional locations, new inventory management programs, new sales and telemarketing programs, and new production scheduling techniques. The program included the reduction of operating costs, layoff of excess personnel, increased inventory turns, and improved customer service. Based on improvements installed during the yearlong program, customers increased their evaluation of the company’s customer service levels from dead last to among the best. During the last stage of the program, new operating management and president were brought in to replace existing management.
Plastic Packaging Manufacturer, $20mm annual revenue
As acting President of this mid-western extruder, printer, and laminator of plastic packaging and sheet, developed and implemented a turnaround plan. Retained legal counsel and negotiated with institutional lenders for concessions while installing operating improvements. Delivered two of the highest sales and profit months in the company’s history. Negotiated with large corporate buyer for sale of business assets.
Auto Parts Company, $60mm annual revenue
Provided M & A and turnaround services to an equity group for the acquisition of $60 million auto parts manufacturer. Performed due diligence evaluation, developed turnaround plan, and prepared business plans and financial projections. Participated in face-to-face negotiations with seller and approached financing sources and negotiated with lenders.
International Health Products
For a world health care products company, managed an organization restructuring and cost reduction program in Brussels, Belgium, in a plant consisting of more than 1,000 employees. Improvements developed during the study represented more than $5,000,000 in annual savings and a 20% reduction in labor cost per unit. Management was replaced in the later phases of the program.
National Lending Company
For a national lending institution, provided interim management services, acted as turnaround management of this leading company with more than 500 offices. Restructured organization, reduced personnel levels, trained area managers and supervised the installation of new leading and collection procedures in the states of Alabama, Arkansas, Georgia, Louisiana, Mississippi, and Tennessee.
Appliance Manufacturer, $200mm annual revenue
For $200 million electrical appliance manufacturer restructured multi-site manufacturing operations. Shut down and relocated 1,500,000 square foot appliance manufacturing plant with more than 3,000 major pieces of equipment and several thousand employees. Managed and designed of a 50,000 square foot electric frying pans manufacturing line. The program encompassed the preparation and retrofitting of the receiving facilities, the relocation and start-up of equipment, transfer and training of personnel, sourcing and scheduling of parts, and the decommissioning of the abandoned facility.