Successful & Versatile Finance/CPA Professional
A seasoned and versatile finance professional with a highly successful track record who has raised more than $117 million in financing, saved in excess of $67 million, and led negotiations and deal-structuring in four major mergers and acquisitions. Directly contributed strategies that resulted in a 641% revenue growth for the nation's third largest fresh cut produce manufacturer. As Controller, managed a defense manufacturer's accounting, cash management and reporting, overhead and property management activities for an $800 million business unit.
Expertise includes outstanding skills in mergers and acquisitions, accounting, audit, cash management, organization, contract negotiations, financial analysis, tax planning, banking relations, real estate, team building and cost control.
Ready Pac Foods, Inc., Irwindale, California 1997-Present
Managed private investments, real estate holdings, mergers and acquisitions, tax planning, finance, and banking relations for a $750 million privately held produce manufacturer with 4,100 employees located in seven plants in five states and Canada. Played a key role in the strategic growth of the company from $112 million in sales in 1997 to $750 million in sales today.
Mergers & Acquisitions
- Through negotiations, turned a failed asset purchase into a new customer relationship with $50 million in additional profitable annual business for a cost of only $350,000.
- Negotiated the purchase of a fresh cut fruit processor and the license of its fruit processing technology for $400,000. This technology permitted Ready Pac to become the preeminent provider of fresh cut fruit in the nation with annual fresh cut fruit sales of more than $50 million.
- Arranged for the purchase of an East Coast food processor that permitted Ready Pac's expansion into protein salad products. The total purchase was $33 million while the current market value of the acquisition is $60 million.
- Negotiated the largest acquisition in the company's history on a favorable exchange of stock well below the acquired company's enterprise value. The resulting acquisition expanded the geographic reach of the company by 40% with new production facilities in the Southeast and Midwest.
- Put together a lending syndication that provided senior financing needs for the company at 4%-7% interest.
- Raised $20 million in mortgage financing and $50 million in equipment lease financing at 4%-7% interest.
- Raised $25 million in mezzanine financing to cover the company's facility consolidation plan following a merger.
- Arranged financing for the purchase of the company's principal manufacturing site and corporate headquarters (472,000 square feet) for $10 million.
- Negotiated the purchase and financing of the company's New Jersey facility (83,000 square feet) for $5 million.
- Negotiated the purchase and financing of the company's startup facility in the Midwest (58,000 square feet) for $2.5 million.
- Negotiated the sale of a production facility (68,000 square feet), acquired through a merger, for $2.3 million over its appraised value.
Hoffman Advertising & Design, Alta Loma, California 1993-1997
Took over a direct mail advertising business and doubled its sales and geographic client base within two years. The company worked with more than 200 small merchants. Managed all client and vendor relationships. Reduced production costs by 40% in the first year.
General Dynamics Corporation, Corporate Headquarters, Pomona Division, Valley Systems Division, Pomona, California 1983-1993
Originally hired to do company financial audits out of its St. Louis corporate headquarters. Promoted to Controller of the Valley Systems Division in Rancho Cucamonga after two years. The Valley Systems Division produced defense weapons for the Navy and Army with peak sales of $400 million. Subsequently, became Controller of two merged divisions with sales of $800 million.
- Launched and managed the Accounting Department of the Valley Systems Division and recruited a staff of 50 accounting professionals in three months.
- Managed the financial consolidation of accounting operations in the merger of two divisions and reduced staffing by 40%.
- Took over government property management and avoided a stoppage of future orders and progress payments due to decertification. Successfully recertified the Government Property Management System within four months. This averted a potential close down of the division and was recognized by corporate headquarters.
- Put together financial accounting for a joint venture with four German companies and the Valley Systems Division for the production of the Rolling Airframe Missile.
- Organized and executed the consolidation of the Valley System's payroll, accounts payable and travel accounting functions into a centralized West Coast service center, saving $1 million annually.
- Developed and implemented a new internal control and reporting system for the capture and allocation of overhead expenses to government contracts, which averted a decertification. Conducted division-wide training of employees.
Peat, Marwick, Mitchell & Co. (KPMG), St. Louis, Missouri 1980-1983
Selected for four years to be on the corporate audit team for the second largest auditing engagement of the St. Louis office. As Senior Auditor, uncovered a significant upside profit adjustment for a major client. Audited a wide range of industries including SEC reporting, manufacturing, airline, barge, banking, savings and loan, pensions, and not-for-profit clients.
University of Missouri at Columbia, Columbia, Missouri
Bachelor of Science, Accounting, Dean's List
Other courses: Financial Planning & Management Seminar - Washington University; Engineering Management Studies - UCLA, Anderson School of Business; The Workshop for Organizational Action - Center for Creative Leadership; Advanced Negotiation and Mediation Skills - Abrams Mediation, Inc., Dallas; Total Quality Management - General Dynamics; and numerous continuing education accounting courses.
Certified Public Accountant, Missouri, 1980