Professional Accomplishments
Increased Profitability of a Multimillion-dollar Manufacturer/Engineered a Beneficial Exit
Situation
Recruited by the Carlyle Group to identify and broker a leading provider of wellhead processing and storage equipment that generates yearly revenue of $250M. Named CEO of the company post acquisition to mange a highly-leveraged capital structure and engineer an exit.
Action Plan
Oversaw all aspects of corporate performance to ensure profitability and cash flow:
- Instituted aggressive expense management processes
- Temporarily closed under-performing plants
- Consolidated purchasing system in 11 plants in 4 states
- Implemented best practices in operational efficiency
- Acquired bolt on acquisition 70% of the size of the platform 18 months after initial acquisition
Results
Maintained profitability and cash flow at 65% of company’s average during 2008 market downturn, exceeding performance of competitor. All debt covenants remained under control while enhancing profitability. Engineered a beneficial exit through dividend recap.