Corporate
Turnaround (downsizing)
-
Sales increased 13% to reverse decline of mature product line
- Margin improved +3% despite large raw materials increases
- Operations restructured to reduce costs by 32%
- Product development reorganized to deliver critical new products in
8 months
- Non-strategic division sold to raise cash and pay off debts
Corporate
Turnaround (consolidation)
- Combined three independent companies within 12 months
- Sales, marketing, production, distribution strategies restructured
for new company
- Customized ERP computer system installed to support new business
- Production facilities consolidated saving $.5MM annually
- Right sized new company reducing fixed overhead by $1.1MM
Operations
Turnaround
- Inventory turns increase from 2.4 to 14.6
- Order lead-time reduced from 21 to 5 days
- New ERP computer system installed to support new business model
- Product development reorganized to bring 12 new products to market
in 12 months
- Plants consolidateded to save $2.4MM
International
- Mexican manufacturing and importing
- Mexican raw material importing
- Japanese and German technology licenses
- Dutch joint venture
- Chinese manufacturing of United States designed product
Sales
Growth & New Products
- Sales increased from $33MM to $150MM in 3 years
- New product launched nationally with 6 sku’s generating $67MM
sales
- Industrial product relaunched increasing sales from $1MM to $24MM in
2 years
- Mature product line revitalized by introducing line extensions
generating 20% sales increase
- New foodservice product introduced resulting in $7MM incremental
sales
- National accounts sales division created generating $135MM in
foodservice sales
Acquisitions
- 64 acquisition candidates screened for major food companies
- 42 potential acquisitions interviewed for manufacturing companies
- 3 companies purchased
Divestitures
- $22MM division sold for $27MM through auction process
- $6MM division sold for $9MM to strategic buyer through investment
banker
- Retail chain sold directly to strategic buyer without investment
banker
- Retail company sold for 6.8X EBITDA
Financial
- Weekly cash flow projections created for troubled company
- Financial reporting system restructured to improve decision making
- Valuation established for new stock offering
- Bank covenants repaired
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