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Using the company’s financial and operating data, evaluated divisional and customer profitability. Identified key areas of potential improvement, including reduction of labor costs, repairs and maintenance cost and procedures, contract pricing/bid management, and dispatching efficiency. Based on analysis, recommended that one division should be closed and/or sold.
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Developed and executed the divisional wind-down plan and simultaneously “right-sized” the remaining division for profitability.
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Assisted in selling the assets for the closed division and paying down the company’s senior facility.
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Completed exit financing to new lender for approximately $7 million.
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Prior year loss to positive EBITDA of approximately $1.5 million in a 9-month cycle.
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Served as interim financial management while successfully finding a replacement CEO and CFO.