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Career Highlights* As the COO & CFO of a Private Equity owned business, worked hand-in-hand with the CEO to increase sales by 50% and double EBITDA. Extremely successful exit whereby the Private Equity firm earned a 3X return on their investment in 4 years.* Played a key role in turning around a financially struggling company (Orange Glo --- originator of Oxi Clean), which sold for $325 million in 3 years. Accomplished the profitable sale of this privately held company by leading and working closely with a 22-member cross-functional, internal and external team comprised of legal, mergers and acquisitions, operations, and finance representatives.* Acted as a “trusted advisor” to the owner of Imprints Wholesale which proved instrumental in improving shareholder value and evaluating strategic alternatives to competitively grow the business. Consequently, served as the project leader for selling the business for 2X more than industry-recognized valuations.* Led as COO and CFO, Imprints Wholesale to record profits while simultaneously improving customer service metrics for each of the 5 warehouses.* At Orange Glo, improved on-time delivery for 15 key customers by 1,200 basis points and enhanced fill-rate for these clients by 100 basis points, all within 9 months. Upgraded Orange Glo’s supplier ranking (from the 2nd quartile of suppliers in category to the top quartile) at Wal-Mart for consistent on-time delivery and fill rate.* Recruited by the chairman of Orange Glo to turn around an outdated, underperforming accountability system for an organization operating in 9 countries with $300 million in annual sales. Built financial budgets for 12 operational functions, which created cash flow and investment planning that drove a comprehensive financial accountability system for each department.
Rk Industries
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Chief Financial Officer And Senior Vice PresidentRk Industries Dec 2018 - Present
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Cfo And Vice President FinanceRk Dec 2018 - Dec 2018Denver, Colorado, Us -
Member Board Of DirectorsHeritage Sportswear Inc. Jan 2016 - Dec 2018Hebron, Ohio, UsWork with the management team on strategic initiatives, improving operational performance, reducing working capital, and increasing EBITDA. -
Coo & CfoKwik Tek, Inc. Oct 2013 - Dec 2018Denver, Co, Us* As the COO & CFO of a Private Equity owned business (Kwik Tek), worked hand-in-hand with the CEO to increase sales by 50% and double EBITDA. Extremely successful exit whereby the Private Equity firm earned a 3X return on their investment in 4 years.* Managed all warehouse operations, purchasing, logistics, administration, accounting, finance, and information technology functions.* Project Leader for management presentations and due diligence which led to the successful sale of the business. Private equity firm realized a 3X return on investment in 4 years.* Retooled the entire accounting and finance teams to be results oriented. This led to reducing the monthly close from 20 days to 5 days.* Acquired 2 businesses and led cross-functional teams to successfully integrate the two businesses.* Developed excellent relationships with lenders.* Implemented warehouse metrics and problem-solving skills which ultimately improved on-time delivery by 400 basis points and increased order accuracy by over 200 basis points.* Negotiated a building lease to increase warehouse space by more than 50% and managed the expansion plan (racking plan, tenant improvements, and optimized, from an efficiency perspective, the physical layout of the warehouse). -
Vice President - Finance, Western RegionBroder Bros., Co. (Acquirer Of Imprints Wholesale) Jan 2013 - Oct 2013UsIn addition, recruited by CEO to be co-captain of the systems integration team and member of the Executive Integration Steering Committee. -
Chief Operating Officer And Chief Financial OfficerImprints Wholesale Feb 2007 - Dec 2012Denver, Co, UsScope of duties consisted of managing all warehouse operations, accounting, finance, and IT functions. Additionally, trained supervisors and managers on performance metrics usage as well as other problem-solving techniques. Transformed all aspects of the accounting and finance department from an ‘efforts-based’ department to a results oriented department while improving distribution center customer service metrics.* Served as ‘trusted advisor’ in evaluating strategic alternatives and exit strategies in partnership with the owner that grew the company to record profits. Conducted an analysis of different alternatives that ultimately concluded that the timing was right to sell the company for 2X more than industry-recognized valuations.* Created and implemented Key Performance Indicators (KPI’s) for every department. Company-wide implementation accomplished the following 3 items: 1) Brought visibility to areas of opportunities for improvement; 2) Achieved all-time record highs in customer satisfaction in the areas of accuracy and on-time delivery; and 3) Improved productivity and warehouse efficiency which subsequently reduced labor and warehouse lease costs. -
Vp, International, Operations And CfoOrange Glo International Aug 2003 - Jan 2007VP International/CFO (2005-2007) – Responsible for restructuring company’s unprofitable overseas operations. Designed the business plan, strategy, and vision within 12 months that turned around an unprofitable overseas operation by implementing a new licensing agreement in the U.K., and a distributorship in Japan while spinning off or closing other unprofitable overseas operations.* Significantly improved company P&L and balance sheet that eliminated $30 million in borrowed debt within 2 years.VP Operations/CFO (2004-2005) – Recruited by shareholders to take on the additional responsibilities as Vice President of Operations. Built and led a 50-member cross-functional process improvement team that developed new, streamlined procedures to manage key business processes.* Reduced logistics, warehouse storage and product costs by 10% within one year by negotiating new contracts with key suppliers, implementing transportation management system, and working with a wide array of teams to reduce operational expenses.VP/CFO (2003-2004) – Primary duties focused on improving content, format and processes behind management information and financial reporting packages, and developing a financial system of accountability for every number on the P/L and B/S.* Favorably negotiated a new loan agreement that increased the available borrowing capacity, extended the duration of the loan, and provided more favorable financial covenants.
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President And Chief Operating OfficerAutodie International Sep 1999 - Apr 2003Selected by parent company’s CEO and president to turn around this financially struggling manufacturer of sheet metal dies. Responsible for directing accounting, finance, business operations, human resources, information technology, administration, and manufacturing activities and trained employees in Six Sigma, lean manufacturing, and other process improvement techniques.* Restructured organization from a non-accountable environment to a functional business with cost accountability. As a result, reduced the break-even level by approximately 50% within 2 years and returned company to profitability. This was accomplished by increasing productivity and efficiency 25%, reducing variable costs 5%, cutting fixed costs 30%, and decreasing invested capital 20%.
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Director Of International FinanceProgressive Tool And Industries (Pico) Sep 1996 - Sep 1999Scope of duties consisted of establishing company’s international operations that, within 3 years, accounted for more than 25% of company sales and profits. Managed and integrated accounting, finance, tax, and treasury functions for 20 locations worldwide.* Directed company expansion in Mexico by launching the largest “body-in-white” (auto shell) tooling company in Mexico. Consequently, created the lowest cost and most profitable business unit in the company.* Purchased a 45% interest in a company in England by negotiating complex shareholder rights and buyout provisions, which proved instrumental in gaining access to major European clients including Jaguar, Ford of Europe, and General Motors of Europe.
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Senior Manager -- Audit & Corporate FinancePricewaterhousecoopers 1985 - 1992Gb
Terry Bates Skills
Terry Bates Education Details
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University Of Michigan - Stephen M. Ross School Of BusinessConcentration In Corporate Finance And Accounting -
Mt. Clemens High School
Frequently Asked Questions about Terry Bates
What company does Terry Bates work for?
Terry Bates works for Rk Industries
What is Terry Bates's role at the current company?
Terry Bates's current role is Senior Vice President and Chief Financial Officer at RK Industries.
What is Terry Bates's email address?
Terry Bates's email address is te****@****kmi.com
What is Terry Bates's direct phone number?
Terry Bates's direct phone number is +130373*****
What schools did Terry Bates attend?
Terry Bates attended University Of Michigan - Stephen M. Ross School Of Business, Mt. Clemens High School.
What are some of Terry Bates's interests?
Terry Bates has interest in Children, Economic Empowerment, Civil Rights And Social Action, Poverty Alleviation, Human Rights.
What skills is Terry Bates known for?
Terry Bates has skills like Process Improvement, Strategic Planning, Cross Functional Team Leadership, Management, Mergers And Acquisitions, Leadership, Budgets, Business Planning, Analysis, Finance, Financial Reporting, Six Sigma.
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