KEVIN ESPOSITO
** ***** *** **** ****: 347-***-****
Aberdeen, NJ 07747 E-mail: *************@*****.*** mailto:
CHIEF FINANCIAL OFFICER
Experienced and accomplished GLOBAL SENIOR FINANCE EXECUTIVE with public and privately held companies. Expertise includes general business management, corporate finance and accounting, and EBITDA performance improvements. Global experience includes traveling to the UK, France, Australia, Hong Kong, China and Japan; traveled to conduct due diligence on M&A opportunities, lead financial analysis on international business units, evaluate employee qualifications, and lead reorganization events. Instrumental in generating millions of dollars in cost savings, sales, and revenue throughout fast-track career. Career Highlights:
Involved in 6 Merger & Acquisitions Led financial due diligence on 2 successful acquisitions Participated in the acquisition and sale of 10 companies Spearheaded the sale of a division and focused on due diligence Met EBITDA objectives while company was owned by venture capital firms Engaged in an IPO initiative Led department reorganization event Revised contracts to drive substantial revenue improvements Acted as Chief Financial Officer and key financial leader for organizations from $50 million to $400 million in size Consistently drove profit and shareholder value
AREAS OF PROFESSIONAL EXPERTISE
Corporate Finance / Accounting
General Business Management
Financial Planning / Analysis
Financial Statement Development
A/R and A/P Leadership
Sales Compensation Programs
Manufacturing Absorption Accounting
Bottom-Line Improvements
M&A Due Diligence, Integrations
Corporate Divestitures
Executive Presentations
Employee Recruiting and Management
CAREER HISTORY
VIRA Insight LLC. – Dallas, TX……… 2015 to July 2017
$90 million Manufacturer and Merchandising solutions provider of custom Wood, Metal and Plexiglas store fixtures and display products for Major department, boutique, cosmetic and electronics retailers, with principle offices in Perth Amboy NJ, the United Kingdom, Mexico and China.
CHIEF FINANCIAL OFFICER and Member of the Board of Directors,
Executive officer responsible for all accounting and finance related matters of the company including bank and financial audit relationships, annual and interim financial reporting in compliance with GAAP, establish and modify effective internal controls, Board meeting presentations, budget and forecasting, M&A opportunities, cash management and compensation related plans as well as Information System utilization and enhancements and accurate reporting analytics to support internal dash board metrics as well as external ABL and Bank covenant compliance, working closely with the private equity owners relating to issues on financial progress.
Team: consisting of 2 direct reports; Vice President of Finance, IT Director, 16 indirect reports including dotted line support for the Inventory Control and Purchasing Managers.
Lead the financial integration of two companies including, two separate purchase accounting transactions, migration onto one integrated system platform, established a singular budgeting and forecasting model and consolidated information required for the valuation of an Asset Based line of Credit for the combined company.
Achieved an EBITDA CAGR of 33% over the first three years as a combined company while reducing tern loan debt by over 50 %.
Successfully managed working capital for a highly leveraged seasonal business while consistently servicing debt obligations as well as managing supplier payment expectations.
Completed two successful refinancing of an Asset Based Line of credit resulting in an increased line limit as well as a reduction in the number of financial covenants.
Managed the migration of the company’s Management Information Systems to a new platform. Moving from a single company environment to a multi-company environment which enhanced the company’s ability to segregate financial performance data regionally and enhanced user functionality as well as provide improved areas of financial and other dash board data and analytics used to manage the company on a day to day and longer term basis.
Consistently provided operational transaction support and mentoring to non financial individuals enhancing their understanding of procedure, process flow and the impact of their jobs on the overall financial results of the company. In addition, worked closely with the sales team to achieve improvements in sales forecasting and product shipping expectations which resulted in better forecasting capabilities. Worked closely with the inventory control and purchasing team to improve inventory turns, reduce the likelihood of obsolescence and manage the cash reserves of the company to avoid early purchasing of inventory and ineffective use of working capital.
Developed and installed a quarterly forecasting model to enable Board members, members of the management team and the banking partners to better understand the interim financial results of a seasonal business in a manufacturing environment.
Financial lead on the successful migration to a new fully integrated software platform.
VIRA MANUFACTURING INC. – Perth Amboy, NJ 2007 to 2015
$50 million Manufacturer of custom wood and metal fabricated Store Fixtures; Kiosk’s and Show cases for retail stores, Health Facilities, Banks and Airports.
CHIEF FINANCIAL OFFICER,
Team; 6 direct reports – Finance Controller, Manager of Information Technology, Manager of Purchasing, Inventory Manager, Manager of Planning and Configuration, 18 indirect reports
Executive officer responsible for all finance related matters of the company including bank and audit relationships, annual and interim financial reporting, budget and forecasting, M&A opportunities, cash management and compensation related plans as well as Information System utilization and enhancements, Inventory Control and product pricing and sourcing.
Restructured the company’s workforce and expenses in a period of industry and general economic decline resulting in the achievement of positive EBITDA and Net Income in 2009. Led three transactions for the sale of the company in 2011, 2012 and 2014 while exceeding EBITDA expectations in each year.
Completed the successful refinancing of an Asset Based Line of credit resulting in an increased line limit as well as a rate reduction of more than 50% with flexible financial covenants.
Introduced a new ‘Success Based’ sales incentive compensation plan incorporating incentives for increased margin achievement, new customers, special product sales and accounts receivable management resulting in a higher profit focused, new business driven sales team.
Enhanced the utilization of the companies Management Information Systems resulting in more accurate and timely inventory reporting and control, better MRP parameters resulting in increased cash flow availability, sales backlog reporting and labor utilization analytics. In addition, reduced the timeliness of the companies interim financial reporting from 25 days to 5 days.
Developed and installed a quarterly forecasting tool to track the companies progress compared to budget as well as forecasting the requirement to borrow from the companies revolving line of credit.
IPC INFORMATION SYSTEMS / GLOBAL CROSSING – New York, NY 1986 to 2007
$400 million global leader that provides specialized telecommunications equipment and financial services to the financial services industry.
VICE PRESIDENT, BUSINESS OPERATIONS, 2006 to 2007
Team: 5 direct reports – Manager of Business Operations, Manager of Sales Operations, Analysts
Selected to senior executive position based on rich knowledge of diverse business units, and challenged to facilitate improvements in delivery of core business information. Analyzed and interpreted business data to help executives make better business decisions, and prepare the CEO and CFO for Board presentations and for M&A opportunities.
Charged with providing comprehensive business analysis and solutions to achieve EBITDA goals, participating in Merger & Acquisition due diligence, overseeing key operating metrics and analysis activities, creating sales compensation strategies and creating and controlling budgets.
Designed a sales compensation strategy to integrate new sales activities and products following the acquisition of 2 new divisions and the expansion of an industry focus.
Created monthly sales and operational update reports and presented information to the CEO. Reports detailed sales and operational recommendations, long-term strategies, and current business opportunities that would trigger revenue.
Worked with colleagues to revise standard contracts that enabled company to generate revenue faster and minimize financial risks. New contracts safeguarded company by strengthening information regarding corporate liability.
Evaluated business operations and discussed possible business improvement strategies and EBITDA risks with the CFO on a daily basis. Initiative guided decision making and enriched the financial status of company.
Developed a detailed key metrics report used by senior executives to analyze business operations and facilitate short-term decisions.
SENIOR VICE PRESIDENT, VICE PRESIDENT of FINANCE, 1999 to 2006
Team: 5 direct reports – Corporate Controller, Finance Director (UK), Finance Director (Asia Pacific), Sales Compensation Manager, Manufacturing Finance Controller; nearly 50 indirect financial staff (global)
Executive member of a telecommunications company that generated $400 million in annual revenue. Promoted following the acquisition of company by Goldman Sachs Capital Investment in 2001. Member of senior management team that proved to global investment firm company would be a successful stand alone company, reach its EBITDA objectives, and meet financial covenants. Major activities entailed controlling EBITDA, managing a financial department, integrating international accounting teams, developing standardized global accounting practices, and overseeing sales compensation programs. Promoted following acquisition of company by Global Crossings, and challenged to operate company as a distinct business in lieu of being integrated into Global Crossing to maintain brand and revenue. Success enabled company to be sold 2 years later. Significant activities include P&L management, budget control, financial statements, and traditional leadership functions. Oversaw accounting consistency for the IPC Division that was managed by Country Managers and avoided the need to sell products from a service-based contract perspective similar to Global Crossings.
Spearheaded complex due diligence and negotiated pricing for 2 corporation acquisitions which triggered $15 million to $20 million in new annual sales and services revenue.
Revitalized an inadequate sales compensation program to provide better rewards for stellar sales performance. Created several compensation plans and programs following acquisitions. Sales team generated $150 million to $200 million in new sales, and sales compensation program provided sales team with $9-$10 million in annual compensation.
Participated in several corporate reorganization initiatives that involved staff downsizing or reassignments and real estate property relocations. Reviewed and modified compensation of senior management team.
Partnered with the IT Group to heighten capabilities of MIS software, lower processing time and reports, boost volume of key analysis information, and provide new business information. Effort also reduced audit time frame and fees.
Led budget activities to help company reach its annual EBITDA goals ranging from $50 million to $100 million.
Architected a 5-year strategy used to sell IPC to Goldman Sachs in 2001. Served as the principal financial operations executive who interacted with all potential buyers.
Successfully maintained operational costs that helped the sale of IPC for $360 million in a flat market.
Conducted financial due diligence on the acquisition of Hitachi’s LTD’s non-Japanese trading system business which was finalized in 2003 for $2 million.
Instrumental in company pushing EBITDA growth performance from $45 million to $60 million in just 2 years.
CHIEF ACCOUNTING OFFICER, 1996 to 1998
Directed financial due diligence on the $7 million acquisition of a competitive business that removed a price-focused business from the industry. Acquisition enabled company to penetrate the Asia Pacific market.
Involved in reorganizing the UK branch generating $100 million in sales revenue annually. Project focused on improving fiscal responsibility, lowering operational costs, and propelling sales activities.
Instrumental in pushing EBITDA performance from $36 million to $45 million over a two-year period.
During the search for a new CFO, delivered a financial review on 3 quarterly investor earnings calls.
CONTROLLER, 1992 to 1995
Worked diligently with the CFO to create a S1 filing for a $150 million IPO initiative in 1993.
Saved $2 million by researching and resolving several sales tax issues with multiple states.
Championed a new format and financial review process related to budget development that was used for 10 years.
Restructured a sales compensation program to provide consistency among global divisions and encourage sales team to reach higher performance levels. Plan eliminated commissioned activities that produced low profit.
Partnered with colleagues to shift multiple global accounting platforms to a universal accounting system.
ASSISTANT CONTROLLER, 1990 to 1991 ACCOUNTING MANAGER, 1988 to 1989 STAFF ACCOUNTANT, 1986 to 1987
EDUCATION & PROFESSIONAL TRAINING
Bachelor of Science degree, Accounting College of Staten Island, Staten Island, NY
Leadership Development Center for Creative Leadership, Greensboro, NC