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1. Calculated the market and potential values of a $12 million branded dress division of a childrenswear importer/designer so that it could be spun off and merged into a much large childrenswear company. Advised the president of this division during the spin-off period and the subsequent negotiations with the buyer.
2. Functioned as “Rent-a-CFO” for this CDN$18 million manufacturer/ importer/distributor of women’s hosiery and tights and men’s sports socks. Instrumental in renegotiating loan agreements with banks and equipment finance companies, hiring and supervision of key financial personnel, purchase and implementation of new computer and other systems. Involved in relocation of Montreal factory/ warehouse to larger and more automated facility that increased production capacity and operating efficiencies. Close advisor to sole owner and CEO. 3. Advised foreign majority owner of a North Carolina based yarn importer in his lawsuit against the previous operating minority owner who had mismanaged company. Instrumental in working with creditors and new management to return company to profitability. 4. Close advisor/”Rent-a-CFO” to sole owner of $25 million importer/designer of infant/ toddler licensed and branded apparel. Implemented various financial and import-related systems, hired top quality CFO and substantially increased bank credit lines. Consulted with owner in a transaction to merge two industry executives into this business. During my involvement, company’s sales doubled and profits skyrocketed. 5. Business advisor directly to owners of a $20 million lighting fixtures importer/designer. Helped company resolve deep management, financial and operational issues, developed detailed business turnaround plan and actively monitored its implementation. Hired key executives and refocused efforts of the three owners. 6. Prepared turnaround plan for this $40 million importer/designer of handbags and accessories. Susan Sorblum assumed emergency CFO position for 3 months until we found a highly-qualified permanent executive. Assessed competence of key personnel and systems and instituted major changes. Developed succession plan for third generation owners to assume more management responsibility. Instituted formal board meetings and chaired the first few until the company was able to handle. 7. Represented the president and sole shareholder of a sterling silver jewelry designer and manufacturer in the successful merger of his company into a much larger 14 karat gold jewelry company. Helped structure and negotiate his equity and compensation package as well as his executive employment contract. Prepared strategic analysis presenting synergistic value created by merger. 8. Prepared detailed financial forecast for a $250 million household appliance importer to establish the need and the basis for doubling the company’s four bank combined credit facility to $60 million. Chaired several meetings with client and its lead bank (HSBC) to successfully convince the latter to approve this request. 9. Represented 28-year-old 3rd generation executive in his successful negotiation with the owners of a $40 million childrenswear importer to purchase a 15% equity interest at a discounted price. 10. Was jointly hired by feuding brothers who had been equal owners of a large childrenswear retail chain and various real estate holdings to get three years of various corporate, partnership and individual tax returns up to date. Partly due to my involvement, the brothers reached a reasonable settlement and have begun to rebuild their separate businesses. 11. Was hired by HSBC to implement a perpetual inventory system for one of its customers, a $35 million apparel and accessory importer. The successful implementation of this system was a condition for the company to remain in the bank. 12. Collaborated with founder and CEO of an upscale retail apparel Kiosk business to write business plan and present it to an investor group, which has agreed to finance the entire venture. Will go forward as equity participant/ CFO in this business. |
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