The Company
Industry: Food Manufacturing
Entity Type: Private Equity-Backed
Operating Region: Northwestern U.S.
Size: $75M
The PROBLEM
The finance and accounting department needed significant process improvements, the implementation of KPIs, and project assistance.
The Solution
The interim leader brought a strong background working with private equity and food manufacturing companies. Additionally, the consultant had two decades of CFO experience developing long-term strategic initiatives.
The RESULT
The interim leader was able to implement an extensive range of KPIs, onboard and train the incoming CFO on process improvements, and create comprehensive forecasts to improve management’s view of the business. They also completed a General Ledger (GL) remapping for financial statements to determine what was in or out of standard, as well as repurposed a shrink and attainment report to create consistent reporting across plants.
13-week cash flow
Introduced a 13-week rolling cash flow to adjust forecasts and predict future cash flows.
covenant forecasting
The forecast showed that the company was going to break a covenant and allowed them to be proactive about the situation and communicate with the bank.
3 + 9 Month rolling forecast
Used 3 months of actual data and created a 9-month rolling forecast for risk and operations.
James Hickey
Senior Managing Director, McDermott + Bull Interim Leaders
hickey@mbexec.com
James Hickey serves as a Senior Managing Director for McDermott + Bull Interim Leaders, helping companies with mission-critical needs for talented executives during key points in their life cycle. He also works closely with Private Equity Groups to help their portfolio companies when there are gaps in leadership or to provide additional support to the team during critical transactions.