Precision Manufacturing Company

Retained by the senior creditor to perform lender-initiated due diligence on a $25M precision manufacturing company, specializing in manufacturing ground support equipment, tooling, and airframe and spacecraft subsystem components to the aerospace industry. The report was central to the negotiation of credit extension terms between the private equity sponsor and the senior lender. 

Steel Hauling & Warehousing Company – Phase I

The first engagement phase was initiated by the PE Sponsor, to review the operations and financial performance of the company, a $135M steel transportation and logistics provider servicing the automotive industry. As the interim CEO, with the support of strong financial consultant, implemented multiple cost reduction initiatives to right-size the company’s overhead to a level appropriate for the current size and complexity of the business. These initiatives included headcount reductions, operational improvements and process improvements aimed at streamlining the organization and reducing costs. The existing management structure and overhead was built to support a much larger roll-up that did not materialize, leaving the company bloated from both a process and personnel standpoint. The engagement culminated with the hiring of a highly qualified industry veteran to lead the trucking division, which represented the largest and most profitable division of the company, and the appointment of a long tenured logistics executive as the CEO. Both the lenders and the PE sponsor requested continued involvement in an ongoing oversight/monitoring role with the new management team in place.

Steel Hauling & Warehousing Company – Phase II

The second engagement phase was initiated by the PE sponsor at the recommendation of the senior secured lender as the company struggled with the drastic downturn in the automotive industry. With the re-engagement, I was brought back as CRO and interim CEO to affect a restructuring. Given their large and lengthy real estate commitments, I led the company through a prepackaged Chapter 11 filing to restructure the balance sheet, and relieve the company of those real estate obligations that were severely and negatively impacting the company’s performance and viability. As part of a Section 363 sales process, the senior lender credit bid, in effect buying the company out of bankruptcy. With a new management team and balance sheet in place to take on the redefined market, the business was ultimately sold to a private equity group resulting in a very satisfactory outcome to the original senior lender. 

Grading & Paving Company 

Retained by the private equity owner initially to help improve the processes and controls of a $300M Nevada-based land development and grading company experiencing hyper growth during the housing boom. The nature of the assignment changed dramatically with the housing crash, resulting in the assumption of interim COO responsibilities to drive the right-sizing of the business necessary due to the precipitous drop in business volumes. The engagement ended with the hiring of, and transition to a new permanent executive management team.

Home Health Care Company

Retained by the private equity owner to perform a detailed business process and organizational structure review of a SE Florida-based private duty home healthcare provider. The scope of the review included all aspects of the business from back office operations to client facing functions including sales and provider activity reporting. 

Regional Overnight Delivery Service

Retained by the senior lender to perform an independent third-party review of a $40M regional Southwest overnight delivery service. The review was initiated due to significant profit leakage and general financial underperformance against plan. On-site reviews included interviews, analysis of financial and operational reports and key business process walk-throughs. Discovered pricing and positioning of service offerings caused diminution of profit margins by driving clients to less profitable services. 

Law Firm

Retained by Managing Partner and Owner of boutique 300+ person law firm to stabilize performance, reduce recurring losses and restructure Senior Credit facility which was in default.  Performance was stabilized and Senior Credit facility was  restructured and reinstituted after proof or operational improvements.

J ob Fair Company-Business Sale Prep

Engaged by the owners of a family owned Job Fair Company who were in preliminary business sale discussions with a large media company.  Client needed to articulate various financial information as well as provide audited financial statements to effectuate the transaction.  Worked with ownership to develop and communicate KPI's.  Assisted in cleaning up financial records and successfully guided the Company through a Big 6 Audit.  The sale was successfully consumated. 

Plastics Manufacturer

Retained by the private equity owners to serve as interim CEO of a $130M NE manufacturer of plastic flatware and straws for the food service industry. While serving in that capacity, aggressively implemented numerous process improvements in manufacturing, sales, inventory management and logistics. Exited the engagement with the transition of responsibilities to new, permanent CEO. 

Alternative Energy Company

Retained by Board of Directors to serve as an interim CFO for the company upon the resignation of the company chief financial officer. As part of the engagement, evaluated the state of the financial bookkeeping and made corrections to erroneous actions. The accounting record keeping was then updated in order to produce accurate and appropriate bankruptcy filing reports. R2B Group’s associate’s background in chemical engineering proved valuable in assessing various activities undertaken by the company relative to the nature and appropriateness of the costs and budgets.

Multi-National Clinical Environment Design and Manufacturing Company

Served as interim CFO for this $250M family- owned multinational manufacturer of medical furniture and equipment. During this tenure, the company increased revenues by over 15% per year, increase profitability, and grew the domestic and international footprint through successful M&A activities as well as organic growth. Also worked with ownership and the rest of the executive management team to design and implement an infrastructure consistent with that of a Middle Market company which would allow for a more efficient and effective transition of ownership and management to the next generation in the future.

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