Leading manufacturer of LED lighting systems for Amusement Parks in the USA, Europe and Asia.Visit www.EworksPro.com to see our latest systems.

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After a mismanaged LBO and 3 CEO's in five years, PIP needed an industry leader with knowledge of their franchisees to be their CEO and President. The board wanted to sell the company, but the company was in the middle of a class action lawsuit with its franchisees, The board engaged Korn Ferry International who recruited me to be the CEO. It took 18 months to stabilize the organization, settle the lawsuits, rebuild franchise relationships and complete a 100% stock sale of company to SirSpeedy/KOA. Subsequently restructured the the company to support the new debt incurred by the sale. By the 2nd quarter of 1999, 50% of the newly acquired debt was paid down through internal operating cash flow. Over the 4 year tenure as CEO, EBITDA grew at an average annual rate of 23.4% and debt decreased by $14 million. Prior to being CEO, EBITDA was declining and bank covenants were in default. Started with PIP in 1981 and assigned one of the first generation laptops. Used it to develop the financial algorithms, operating models and tools to manage and support the franchise system which grew to 1200 units by the end of the 1980's. Upgraded the field staff from technicians to business consultants who traveled the US. Many of these "Top Guns" went on to hold key executive positions at major companies after their tenure at PIP. Pioneered a no risk program with one of our leading vendors, Kodak. It was a new financial model for selling copiers that was neither a lease nor a purchase but rather a escalating rental program that converted to a purchase once operating targets were achieved, or recycled to another location. During the program, 500 units were sold at a revenue of over $100 million.In 1988 an investment banking company acquired PIP through and LBO and I left the organization to be the President of BCT.