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Senior financial executive (CFO, CPA, CPSO, MBA) with 35 years of driving Growth, Profitability and Value focused on privately/closely-held entrepreneurial firms under $500M in revenue in Service/Consulting, Real Estate & Construction, Manufacturing/Distribution, and Technology industries. My experiences have brushed a broad spectrum of color, from helping PE and venture capital backed start-ups & early stage firms establish platforms for growth, to executing aggressive M&A strategies for an ENR 500 Civil Engineering firm, and culminating with helping a wireless technology site acquisition firm execute a successful exit to an $800M private equity backed staffing firm. My belief is that true success happens in the proper integration of operations and financial strategy. I am attracted to growth oriented (organic/inorganic) firms and am not afraid to roll up the sleeves and operate in a lean environment of controlled chaos. Some of my proudest accomplishments come from teaching great entrepreneurs the importance of also understanding the fundamentals of financial process, strategy and data analysis to help them drive innovation.Key Areas of Expertise:- Strategic Planning and execution- Finance and accounting process/control analysis and automation- M&A/Office expansion: due diligence, execution and integration- Restructuring and divestiture - Budgeting and Forecasting- Cash Flow projections and optimization- Treasury Management - Risk Management analysis and strategy- KPI and metrics development, training measurement- Human Resources, benefit administration, and payroll- IT Management - software implementation, cloud applications and internal/outsourced support - Contract/Legal Review- Federal and State corporate taxation- GAAP accounting- Agile Certified Scrum Product Owner and Certified Scrum MasterPrimary Industry Experience: - Real Estate - Home building, Construction and Development- Wireless Telecom - Real Estate Site Acquisition- Civil Engineering - Technology - Software Development, Application Integration and Consulting Services- Manufacturing and Distribution
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PresidentSurfside Consulting, LlcChicago, Il, Us
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Chief Financial OfficerGet Staffed Up Jan 2024 - PresentFlorida, Us -
PresidentSurfside Consulting, Llc Oct 2019 - PresentExceptional record at creating value through increased cash flow, profitability and shareholder return. - Adept at evaluating and performing business process improvement, establishing KPIs, and creating operating platform to allow for growth and acquisitions. - Managed due diligence and integration for M&A activities, evaluating over 30 businesses, resulting in 6 successful transactions fully integrated. - Creative problem solver with exceptional interpersonal skills allowing for seamless interactions with sales, operations and outside directors- Performed due diligence on potential acquisitions in the retail food industry. Visited sites, evaluated financials, reviewed legal agreements and leases, determined enterprise value and assisted with preparation and negotiation of LOIs for operations that met investment parameters, leading to successful transaction. - Assisted in the setup of real estate IRA to allow investment in real estate using tax deferred retirement funds. Trained management on investment guidelines, assisted with the establishment of the IRA, setup accounting and financial reporting for the business, and provide ongoing support.
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Principal | CfoProcfo Partners Aug 2020 - May 2024New York, Ny, Us -
CfoNtp Wireless Sep 2014 - Aug 2019Privately held real estate site acquisition firm for the wireless telecommunications market. Firm sold to SystemOne, an $800M integrated services and workforce solutions firm in August 2018Led all corporate accounting & finance, budgeting, cash flow forecasting, treasury and risk management. - Working directly with CEO, established operating platform designed for rapid growth, improved profitability, developed operational and financial KPIs, and evaluated potential M&A opportunities;- Assisted in development of CIM and led all financial, HR, IT and risk management due diligence reviews, resulting in strategic sale to $800M PE-backed staffing firm- Provided key direction in integration to parent of HR, payroll, benefits, IT, risk management and financial operations. Prior to strategic sale, - Implemented changes to project management, financial reporting and annual budgeting, resulting in 25% reduction in billing cycle times, increased cash flow and stronger company operating metrics. - Drove 10% increase in GM through developing core KPIs for all business lines, and teaching operating Directors how to understand and interpret key metrics to impact positive performance. - Performed financial internal due diligence for multiple acquisition targets. Modeled proforma cash flows, mapped out integration strategy, assisted in structuring LOIs and sourced acquisition financing
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CfoManhard Consulting Ltd Jan 2009 - Sep 2014Lincolnshire, Illinois, UsPrivately held ENR 500 National Civil Engineering Firm. In dual CFO role, worked directly with CEO & COO to increase company/shareholder value for combined operations. Provided financial sophistication that helped drive organic and inorganic growth in the core civil engineering operations and turned around homebuilding operation in NW Indiana- Led all corporate accounting & finance, budgeting, cash flow forecasting, treasury and risk management for Manhard's civil engineering operations in eight cities across five states. - Performed M&A due diligence on over 20 acquisition targets resulting in 6 successful strategic acquisitions in Illinois, Colorado and California in 5 years. Integrated all acquired operations into Manhard's core financial platform within 90 days of acquisition. - Implemented changes to project management and invoicing processes, resulting in reduction of revenue cycle time by 25 days, generating $2.0M of positive cash flow- Led financial software evaluation process and conversion from BST Global to Deltek, resulting in greater visibility into KPIs. -
CfoProvidence Real Estate Development Jan 2009 - Sep 2014Lombard, Illinois, UsProvidence Real Estate Development is a private-held homebuilding company operating in NW Indiana operating in four communities - Directed all capital financing, accounting (accounts payable, loan draw administration), risk management, budgeting and cash flow forecasting activities - Sourced, negotiated and closed nearly $20M in operations, acquisition & development and construction financing over 5 year periodCreatively restructured real estate debt and financial covenants resulting in multi-year extensions with favorable repayments terms tied to home building activities in tight lending environment - Worked closely with Division President to streamline reporting and processes, led software conversion to Sage 100 (Masterbuilder), developed measurement and control of KPIs -
Director Of FinancePasquinelli Homebuilding Llc May 2003 - Dec 2008Burr Ridge, Il, UsTasked to lead all national finance, treasury and risk management activities for $580M homebuilder and developer. Working directly with COO, CEO and Board, developed and led financing, cash flow, treasury and risk management directives. Led all corporate finance, treasury management, construction project financing, loan draw, and risk management activities. • Evaluated return on equity (ROE) for each homebuilding community and identified high performing projects• Arranged and negotiated $1.0B in financing for land acquisition, development and construction from 23 lenders for over 100 communities in 14 cities; • Reduced effective borrowing rate 1% using multi-year interest rate swaps, saving over $4.0M annually; • Partnered with IT and Operations in JD Edwards integration, including design, testing and implementation of an automated loan administration process resulting in $15M positive cash flow -
Vice President - FinanceShoptalk Networks, Inc. 2001 - 2003Venture capital backed software development firm providing voice recognition software solutions on an SaaS platform; technology sold 2003. - Led all accounting, HR, risk management and corporate finance, establishing processes, controls and reporting- Provided all financial and cash flow modeling for $12.0M late round venture capital raising (Chicago/West Coast) and acted as primary financial liaison for venture and private equity investors. - Working closely with CEO and senior management, restructured operations to reduce burn rate while re-positioning firm as software developer. -
Vice President - Finance & OperationsDchain 2000 - 2001Panama, Panama, PaEarly stage, venture capital backed company providing B2B enterprise software for supply chain automation; corporate office moved to South America in 2001.- Directed all accounting, office operations, risk management and equity financing including late round Preferred Stock and Convertible Notes offerings. - Established all accounting processes and control, developed financial reporting and KPIs for operations- Worked with Chicago-based investment banking firm to prepared all financial projections and cash flow models for Offering Memorandum for proposed sale of company -
Director - Asset ManagementInfogix, Inc. 1998 - 2000Naperville, Illinois, UsPrivately-held international software development firm providing software applications to ensure information integrity in global organizations. Led team of ten staff covering accounting, information technology, legal and office services in preparation of consolidated financial statements and the support of operations in US, Canada, U.K., France and the Netherlands. -
Senior Vice President, Chief Operating Officer (1997-1998); Controller (1996-1997)Sdi Presence 1996 - 1998Chicago, Illinois, UsEarly stage, privately-held IT consulting operation specializing in application integration and development. Hired shortly after company was spun off from existing engineering firm and brought in to lead accounting operations. - Established accounting processes and controls, cash flow, financial and project reporting and led annual budgeting. - Member of senior management team tasked with creating and enacting strategic growth plan.- Working with project staff, helped develop corporate work process methodology to ensure the consistent management of consulting engagements for both current and prospective clients. -
ControllerGem Creations 1994 - 1996Privately-held $30M manufacturer and retail sales operation, performing special events for largest national jewelry chains. Company sold to Service Merchandise in Oct. 1996 and operations moved to Nashville.- Directed staff in accounting, human resources and office administration in preparation of financial statements, payroll & benefits administration and office operations.- Working with CFO, instituted inventory management and reporting solutions to increase operational efficiency.- Implemented bar coding of inventory, standard costing and daily inventory cycle reporting using cell phone transmissions, resulting in reduced shrinkage and 5% increase in operating margins. - Developed customer profit center reporting, evaluated core clients and recommended divesting those with lowest margin and average sales/event KPIs, resulting in 10% margin increase for company
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Senior Internal AuditorItw 1993 - 1994Glenview, Il, UsFortune 250 manufacturer of highly engineered componentsPerformed operational and financial audits of manufacturing, wholesale and services divisions of ITW in North America. Focused on profitablity through better inventory utilization in under-performing divisions through effective use of cell manufacturing (Kan-ban), standard and activity based costing methods. -
Audit SupervisorFriedman Eisenstein Raemer & Schwartz Jul 1987 - May 1993Large regional public accounting firm; merged with RSM McGladrey. Led audit teams of up to five staff members performing financial audits for privately held manufacturing, wholesale/distribution, service and not for profit/governmental entities. Prepared annual corporate, partnership, individual and payroll tax returns
Thomas J. Sherman Skills
Thomas J. Sherman Education Details
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Northwestern University - Kellogg School Of ManagementBusiness -
Gies College Of Business - University Of Illinois Urbana-ChampaignAccounting
Frequently Asked Questions about Thomas J. Sherman
What company does Thomas J. Sherman work for?
Thomas J. Sherman works for Surfside Consulting, Llc
What is Thomas J. Sherman's role at the current company?
Thomas J. Sherman's current role is President.
What is Thomas J. Sherman's email address?
Thomas J. Sherman's email address is to****@****ess.com
What is Thomas J. Sherman's direct phone number?
Thomas J. Sherman's direct phone number is +184763*****
What schools did Thomas J. Sherman attend?
Thomas J. Sherman attended Northwestern University - Kellogg School Of Management, Gies College Of Business - University Of Illinois Urbana-Champaign.
What are some of Thomas J. Sherman's interests?
Thomas J. Sherman has interest in Financial Reporting, Information Technology, Cash Flow Projections, Entrepreneurial Opportunities, Few Mastered, Real Estate, Software Development, Golfing, Poverty Alleviation, Treasury Management.
What skills is Thomas J. Sherman known for?
Thomas J. Sherman has skills like Financial Reporting, Finance, Budgets, Management, Mergers And Acquisitions, Strategic Planning, Cash Management, Financial Analysis, Cash Flow, Strategic Financial Planning, Gaap, Start Ups.
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