Job shop with underperforming COO & CFO moves operations to new location and in doing so loses key financial and operating controls.
Develop three-pronged plan to restore customer confidence by implementation of supercharged program management function, manufacturing engineering function and investment in manufacturing capabilities to improve control over throughput. Concurrently, terminate COO, Plant Manager & CFO and install Stebb firm associates to fill roles. Working with sales force, change product line emphasis and change mix to capitalize on the company’s core capabilities and enhance overall margins. Develop policies and processes that were scaleable; achieve ISO certification. Implement enterprise-wide information system and Advisory Council process to improve management oversight.
Sales increased from $15M annually to $100M+ in four years. Concurrently, developed performance-based culture and hired permanent senior managers to run operations and all business functions. Successful completion of sale of business to strategic buyer.
“We went from a $10M in sales negative equity company that was out of control to a $100M enterprise doing 18% EBITDA. I never would have been able to cash in on my dream without the heavy lifting done by the Stebb team before the sale and as the lead for my exit strategy. The transformation of our operations was remarkable.”
— Former Owner