| Susan A. Smith EXPERIENCE Performance Consulting Group – Sugar Grove, IL 1992 – Present Principal and Founder The business transformations listed below were conducted for a number of management consulting firms across a broad range of manufacturing and service based firms in various industry sectors and range in revenue from $50 million to $500 million. ♦ Tolt Services, Inc – Charlotte, NC Executive Consultant Technology service provider for all major grocery chains and specialty retailers Brought in by the company and the capital firm to craft go forward strategy that addressed eroding EBITDA Results: Strategy created to recover $2.5 million in EBITDA over the next six months » Restructured the organization chart, the reporting structure and added second tier of management » Created accountability and responsibility standards to empower decision making at all levels » Designed forecasting, planning and scheduling systems to better deploy field resources » Expanded inventory assess to all service vehicles in the field » Identified headcount reductions based on better scheduling » Reduced shipping costs through accurate deployment » Restructured regional operations to respond quicker to increased demand ♦ Mid-Way Supply, Inc – Zion, IL Chief Operating Officer Northern Illinois distributor for Trane HVAC products with 7 warehouse locations Brought in by agreement with lender, board and majority owner Results: Cut debt service in half by restructuring $9.5M in loans » Restructured the company and the operations » Crafted a new go to market strategy » Implemented bar code systems in the warehouses » Jettisoned a poor performing division » Restructured branch operations for retail and wholesale transactions ♦ CamFab Corporation – Smithfield, NC Executive Consultant A concrete forms and scaffolding rental company for major construction projects Brought in by the lender to execute Chapter 7 asset recovery Results: Recovered $21.5M from asset liquidation » Retained staff in 5 locations: Clayton, Durham and Charlotte, NC and Jacksonville and Ft. Lauderdale, FL » Worked directly with Trustee to secure assets for major lender » Worked with staff to collect AR and equipment from each construction site » Negotiated settlements with equipment vendors » Set up auction in two states ♦ Sandy Alexander Inc. – Clifton, NJ Consultant A multi-format, multi-plant lithographic printer specializing in high quality work for the fashion, automotive and financial industries Brought in by the first position lenders to determine the most effective go forward strategy Results: Accepted offer by mezzanine firm to institutional lenders to buy out their stake » Assessed the viability as a going concern at the New Jersey and Tampa plant sites » Worked with all five stakeholder institutions to understand everyone’s needs » Crafted a plan to reorganize the company at a reduced revenue rate based on current shrinkage » Created debt restructuring alternatives to satisfy each party ♦ Giftco, Inc. – Vernon Hills, IL Consultant The largest importer of items for the fundraising industry which included 90% of all US elementary schools Brought in by the CEO to pare down and reorganize the excess inventory to attract a new lending institution Results: Secured debt refinancing and stabilized company » Built a three store retail chain in 45 days » Liquidated $5.8 million in inventory in two months » Negotiated and contracted to liquidate the balance of $6.4 million in first half of 2009 » Eliminated the need for two third party warehouses saving $1.2 million annually » Removed top line number from the balance sheet to attract refinancing ♦ WasteDry, LLC – Chicago, IL Chief Executive Officer An experimental processing plant to gasify municipal waste sludge with green technology Brought in by the investors (CME Members) to turn around the acquisition Results: Sold the assets to a larger firm when economic downturn made other options unattractive » Assessed the viability of the design and engineering of the plant » Redesigned the plant to modernize the equipment » Crafted long term business plan to leverage patented technology » Secured financing for the cost of plant retrofit » Crafted and presented proposals to the cities of Philadelphia and Camden, NJ ♦ Blackhawk Manufacturing, Inc. – Salem, OH Consultant A manufacturer of parts for the automotive industry Brought in by the majority equity firm to craft a next step strategy Results: Sold company in a 363 sale » Assessed the operations, management and assets of two plant locations » Crafted the strategy to place the company in bankruptcy protection » Attracted the DIP financing required to maintain a going concern through automotive companies » Saved the jobs of 1200 employees » Crafted go forward strategy ♦ Dairy Farmers of America – Kansas City, MO Consultant The nation’s largest diversified cooperative manufacturer of dairy products Brought in by the CEO to craft a shutdown strategy for a cheese plant in Corona, CA that was under an $18 million contract to consume steam from a power plant. Results: Created solution to consume the steam with a zero sum impact » Navigated the Federal Energy Regulatory Commission (FERC) statutes and case law to craft legal solution » Designed system to cool steam to distilled water » Worked with municipality to merge distilled water into drinking water system » Solved water shortage issue within the Colorado River basin » Navigated local politics to ease the impact of the shut down ♦ Flexi-Mat – Plainfield, IL Chief Operating Officer Largest manufacturer of pet beds Brought in by the lender to recover $18 million in loan guarantees Results: sold company to a foreign entity » Restarted manufacturing to consume inventory, build product and position company for sale » Negotiated sale of manufactured product to existing customers – Target, Petsmart, Petco » Crafted book and released into equity, capital, hedge and competitive markets » Disposed of assets to raise operating cash » Repaid in full all debt to bank ♦ Consolidated Manufacturing, Inc – Hutchinson, KS Chief Operating Officer A re-manufacturer of automotive engines and Ford Motor Company power train distributor Hired by the board and the family trust to turn the company around. Results: Resolved financial issues and solved pension shortfall » Eliminated payable debt through negotiations with vendors » Shut down unprofitable portion of the manufacturing operation » Restructured the debt with the bank » Repositioned and reincorporated the distribution side for future growth » Recovered cash from the selective sale of the capital assets » Resolved all legal issues associated with the plant shut down ♦ d_skin, LLC - Chicago, IL Consultant A maker of a polycarbonate sleeve that covers any type of CD, DVD or other disc media Engaged by holding company (Draupner LLC) to dissolve the LLC via Assignment for Benefit of Creditors (ABC) Results: Sold company to foreign entity in Cyprus » Performed due diligence on the operation to determine strategy » Set up Trust Agreement as an ABC » Seized control of all of the assets including bank accounts, patents, trademarks, tooling and inventory » Created prospectus to attract potential buyers » Solicited stalking horse bid to set up auction ♦ 2nd Swing, Inc – Minneapolis, MN Consultant – Business Broker Fifty store retail chain selling pre-swung golf equipment Brought in by the lender to position the company for sale or liquidate all of the assets Results: Recovered 45% of investment through liquidation upon bank’s request » Performed extensive due diligence on a niche business model that focused on buy/sell/trade » Crafted book to position the company for sale » Mined for potential equity partners or acquisition by chain retailer » Engaged liquidators to dispose of all of the company’s assets ♦ Compass Environmental – Chicago, IL Consultant An environmental remediation firm specializes in large scale projects Installed by the board, the lender and the equity partners Results: New strength positioned the company for acquisition » Restructured the debt with the lender » Rebuilt the operations to accommodate seasonality » Converted capital equipment into cash with lease back agreements » Shut down non-profitable office locations » Opened locations in advantageous regions » Restructured sales force » Identified additional vertical markets to increase sales ♦ M&R Companies – Niles, IL Consultant World’s largest manufacturer of screen printing presses for the textile industry Engaged by lender to craft exit strategy Results: Negotiated with owner to buy out the lender, who was made whole » Performed due diligence on national and international operations » Defined future of the market » Identified future marketplace opportunities » Crafted detailed exit strategy with multiple options for the lender » Defined sales multiple and all potential funding sources ♦ Metropolitan Graphic Arts, Inc. – Mundelein, IL Consultant A packager of consumer product samples for P&G, Kimberly Clark, J&J, Alberto Culver, Wyeth Laboratories, Roche, Glaxo-Smith-Klein Brought in to grow all aspects of the operation, exit declining industry, change the product mix, and to craft a long term strategy to support the company for the next decade. Results: Converted company from printing to consumer product sampling operation » Reengineered existing products to adapt to customer need » Identified and installed all capital equipment to handle the product shift » Worked with DEA to set up handling systems to meet standards that govern over-the-counter drugs » Designed costing system to control profit margins » Drew up succession plan for family run company ♦ United States Professional Volleyball League – Oakbrook Terrace, IL Chief Operating Officer Professional Sports League with Olympic, National, All American and International players and coaches. Brought in by the financier to build an entire professional sports league from the ground to games on the floor in a six month time frame with $16 million of founder money. Results: Executed the most successful professional league startup with a 23% ROI » Drew up contracts for players and coaches » Negotiated real estate contracts, built team offices in four cities and set up the league office » Built an award winning transactional web site with ticket (Ticketmaster) and fulfillment functions » Designed supply chain management to handle fulfillment for all retail team gear » Successfully constructed detailed operating model to attract $42 million in additional funding » Crafted and executed the branding strategy at the league and team levels that attracted $7 million in sponsorship » Piloted effort that designed a new game ball and recruited a major manufacturer for royalty fees » Finished the building process on time and on budget to complete the first full season CORPORATE POSITIONS HELD
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