The Company
Industry: Manufacturing
Entity Type: PE-Owned
Operating Region: East Coast
Size: $600M
The PROBLEM
Despite being profitable, the company faced consumer-related challenges that contributed to the departure of both the CFO and Controller. To maintain financial stability and operational continuity, the company needed an experienced Interim Controller to lead the finance and accounting team and serve as a strategic partner to the CEO.
The Solution
McDermott + Bull Interim Leaders placed an experienced accounting and finance executive with a strong track record in leading processes and controls at middle-market companies. The interim leader was an expert in accounting policy updates, operational excellence, cost savings, and team building. They also brought extensive experience across budgeting, reporting, metrics, and international operations.
The RESULT
The interim Controller strengthened the finance team by improving processes, hiring key talent, and establishing repeatable procedures for long-term stability. They successfully completed balance sheet reconciliations, finalized the audit, ensured closing processes remained current, and implemented documentation strategies to maintain consistency. Even with a few projects still in progress, the team is now well-positioned for future success.
Finance Team Expansion
Strengthened the team by hiring four new staff members and successfully identified the permanent Controller.
International Accounts Payable (AP) Integration
Integrated international Accounts Payable into corporate AP, improving efficiency and delegation within the operations team.
Process Documentation
Prioritized thorough process documentation to prevent knowledge loss, significantly improving financial 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.