Vp Finance, General Manager
Boral Usa (Formerly Headwaters, Inc. And Krestmark Industries, Llc)
Recruited to prepare company for sale. Converted accounting system from QuickBooks to Microsoft Dynamics GP, and all financial reporting to GAAP format. Established, monitored, and enforced financial policies and procedures. Prepared budget and established schedules. Conducted audits to verify and monitor financial conditions. Initiated annual 3rd-party financial audits; provided data. Generated Confidential Information Memorandum for company sale in collaboration with investment bankers. Drove compliance with federal, state, and local legal requirements. Managed payroll, human resources, plant operations, sales desk, purchasing, and accounting functions. Worked with Grant Thornton on intangible asset valuation. Project Management• Served as key member of management team that successfully completed sale of company to new ownership.• Managed Krestmark’s post-sale integration team in 4-month role following acquisition of Headwaters Windows, LLC by Boral NA in May 2017.Revenue/Profit Growth• Accelerated sales to $114M with EBITDA of 26% in 2016 from sales of $42M with EBITDA of 17.4% in just 4 years; sales were $120M with EBITDA at 31% on TTM at time of closing. • Achieved budget objectives by scheduling expenditures, analyzing variances, and initiating corrective actions. Maintained average DSO of 23.2 days, DPO of 28.4 days, and Inventory Turn of 10.3x.Cost Reduction• Reduced Worker's Compensation experience rating from 1.7 to .9 and realized $250K in annual savings by implementing comprehensive safety program.• Reduced plant employee turnover rate from over 300% to 125% by adjusting hourly rates to market and implementing pay scale based on job experience and performance, not tenure.• Slashed manufacturing expense per labor hour 20.86% through purchase of key automated processing centers and implementing employee training and job rotation program.• Decreased FTE requirements for production by 40 by implementing more efficient production scheduling.