RIDGELY H. CROMWELL

Fairfield, CT ***** Mobile: 203-***-****

ado8ee@r.postjobfree.com

SUMMARY

Private Equity Investor, Chief Operating and Financial Officer, general management and board member in diverse small to mid-sized companies with strong value creation results. Strategic thinker with solid grounding in finance and operations.

Skills include (I) Operations – KPI development, new market and product analysis, supply chain management and cost/contract negotiations, sales force design and compensation, IT system needs analysis, 100 day and 5 year business and financial plans, plant consolidation, acquisition integration, lean manufacturing boot camps, (II) Finance – developing customer/SKU/division profitability, determining corporate and overhead allocations, analyzing customer and supply chain pricing, developing reporting metrics, dashboards and monthly financial presentations, working capital management, budgeting, cash flow projections (III) investing/M&A – M&A and deal execution, raising capital, investor and debt relations, developing business plans and strategies. EXPERIENCE

Spiro Health Services, LLC Waterbury, CT August 2020 – Present CFO for private equity backed home medical products distribution company focused on Sleep Therapy and Respiratory

CFO for an acquisition roll-up strategy investment, with the initial acquisition in March 2020 of 3 companies to form a $40M revenue platform company, followed by 2 add-on acquisitions in September that generated TTM December 2020 revenue of $50.7M and adjusted EBITDA of $5.3M.

Developed new chart of accounts, common accounting policies, and consolidated financials to new shared system and platform. Managed first time audit for 5 companies, developed reporting package and KPIs, and first top to bottom budget and budgeting process.

Sold to strategic within 13 months for a 2.23x MOI and 109% IRR. OJ Medtech, Inc. Bay Shore, NY January 2017 – August 2020 Operations/COO for private equity backed home medical products distribution company focused on Compression Stockings and Woundcare Supplies

Manage Customer Service, Supply Chain and Sourcing, HR/Hiring, Opening new offices, acquisition integration, and general project management.

Led process to review and upgrade significant change in staffing talent and implementation of customer service KPIs, led supply chain sourcing and negotiating lower costs and growth rebates, negotiated significant inventory returns with vendors avoiding writeoffs, and review of IT needs to enable data analytics. Cambrooke Therapeutics, Inc. Ayer, Massachusetts January – December 2016 CFO for private equity backed manufacturer of medical foods used to treat patients with inborn errors of metabolism

Managed Finance, HR, and IT, and active involvement with Reimbursement, International Operations.

Led closing of Series C $6.0 million growth financing round with both international strategic and VC investors, with the strategic ultimately purchasing the company.

Led and managed (i) Pricing - product/customer price increase (ii) International - developed international pricing templates, international direct to market/distributor analysis and country P&L’s, (iii) IT - corporate server investment and outsourced IT vendor selection and contracting, ERP system and vendor analysis, (iv) Reimbursement/Insurance - insurance payor contract negotiation and accreditation process, (v) Finance - Increased Bank line through competitive bank selection process, reduced annual audit and insurance costs, refined KPI’s and reporting, led budgeting.

Starboard Capital Partners Southport, Connecticut 2009 - 2015 Portfolio Company Finance, Private Equity Managing Director for companies with revenue $10 to $100 million

Led purchase of QDiscovery, a legal services e-discovery company providing outsourced data collection, processing, and hosting services for law firms and corporations during litigation. Board advisor. Exited for approx. gross 4.8x MOI in 4 years and 48% IRR.

Led purchase of HTPG, a $90 million revenue manufacturer of heat transfer and commercial refrigeration products sold to commercial and industrial customers, subsequently sold for attractive private equity return. Participated in plant consolidation execution and lean manufacturing boot camps. Member of Board of Directors. Exited for approx. 25% IRR in 3 years.

Advisory CFO, Board participation with CV Properties, a New England commercial real estate developer. Participated in six transactions with over 2 million square feet and $1.1 billion in acquisition value with leading industry performance results for time period. Assisted with capital raising for real estate transactions, monthly reporting and cash flows, annual budgeting and investor updates. Wolfjaw Capital Fairfield, Connecticut 2005 - 2008 Portfolio Company CFO, Private Equity Managing Director for companies with revenue $10 to $100 million

Active hands-on development of two private equity portfolio companies: o Madhouse Munchies - CFO-COO of premium potato and tortilla chip company that grew from $1 to $4 million in revenue. Led Preferred A Capital raise of $1.2 million. Prepared monthly financials and investor reporting. Analyzed customer and supply chain pricing, SKU and customer profitability, co-packer costing and freight analysis resulting in co-packer switch, rebate and coupon liabilities. Sold to strategic investor. o US Paverscape - CFO of manufacturer of concrete pavers. Arranged financing of land acquisition and facility development for new plant in greater Orlando, FL market. Prepared monthly financial review and reporting.

M&A sell side divestiture of $75 million revenue scrap metal recycling company. Craig Capital Corporation Greenwich, Connecticut 2001 – 2005 Portfolio Company Finance, Private Equity Managing Director for companies with revenue $10 to $100 million

Worked as Advisory CFO with company level finance teams. Served as board member of companies.

Managed weekly meetings with companies, covering typical agenda items such as sales and marketing, operations, and finance, as well as continued development and monitoring of strategic initiatives.

Closed acquisitions of:

o FEI Products and FEI Women’s Health - the manufacturer and marketer of Paragard, an intrauterine medical device (IUD) for women’s contraception. FEI Products was the contract manufacturer which then acquired the new drug approval (NDA) for Paragard to allow for complete control of the product through sales and marketing (FEI Women’s Health) to significantly increase profits. Grew EBITDA from $6 to over $30 million. Arranged debt financing, set up sales and marketing affiliated new company, customer profitability, prepared litigation discovery, annual budgeting and debt covenant compliance. Exited at 17x multiple of investment (MOI), IRR 100% plus.

o Hale Indian River Groves, a $20 million revenue direct marketer of gift citrus to consumers and businesses via catalogs and the internet. Arranged creative debt financing structure for seasonal company. Led product pricing and margin analysis, lifetime customer value analysis, ROI analysis for catalogue and internet marketing campaigns, and investor reporting and relationships. o Alamac American Knits, a manufacturer of knit fabrics for the uniform and career apparel industry. Purchased a shutdown division of a bankrupt company in section 363 sale. Reorganized business from a low margin, break-even $125 million plus revenue company that included retail customers to a profitable high margin $40 million revenue company focused on commercial uniforms. Projected accurately initial start-up and capitalization needs. Re-set cost accounting system and shift and personnel reduction. Analyzed pricing and profitability by SKU and customer.

Creditanstalt Corporate Finance Greenwich, Connecticut 1997 - 2001 Vice President, Austrian bank focused on junior capital for US middle market buyouts and leveraged transactions

Provided “stretch” senior and mezzanine debt with equity upside through either warrants or direct equity investment. Commitments in the $10 to $50 million range. Responsible for all aspects of transactions, including sourcing, underwriting and structuring, and monitoring.

Transactions included senior debt with warrants to a medical device and drug delivery company; senior debt, subordinated debt with warrants, and cash equity to a log home manufacturer; senior debt and cash equity to a digital commercial printer; and senior debt with warrants and cash equity to an alarm security company.

Equity related deals generated positive IRR’s.

Chase Manhattan Bank Northeast Corporate Finance Bridgeport, Connecticut 1995 - 1997 Assistant Vice President

Analyzed middle market commercial borrowers in the Northeast with sales size ranging from $10 million to $500 million plus. Responsible for analysis of approximately $475 million of $900 million portfolio.

Extensive projections and cash flow modeling, deal structuring, valuation analysis, and work on leveraged buyouts, recapitalizations, and mergers and acquisitions.

Chase Manhattan Bank Corporate Finance Training Program New York, New York 1995

Top performer - scored 100 on three finance and accounting exams and 96 on credit policy. Topics included capital markets, valuation, structuring, credit analysis, cash flow modeling, forecasting, taxes and trade finance. Chase Manhattan Bank Community Development Corporation New York, New York Summer 1994 Financial Analyst

Performed loan approvals and reviews on small businesses, real estate developers and real estate projects. Attended credit training for small business lending.

Food Lifeline, Second Harvest Food Bank Seattle, Washington 1990 - 1992 Sales - Marketing, Business Development with not-for-profit local and national food bank distributor

Increased annual poundage donated by 30% from 9.1 to 11.8 million pounds. EDUCATION

Yale School of Management New Haven, Connecticut

Master's degree in Business Administration (MBA), 1995. Concentration in Accounting and Finance. Letter of Commendation in Finance, Tutor in Statistics. Trinity College Hartford, Connecticut

Bachelor of Arts (BA), English, 1989. Studied at Queen Mary College, London, 1987-1988. OTHER

Set five college swim team records, two time MVP.

Evaluator for Yale – Goldman Sachs National Business Plan Competition for Nonprofit Organizations.

Junior Achievement – Volunteer Teacher of High School Business Success Skills Program.

Initial President of Board of Directors of the Bridgeport Dolphins Aquatics Club, a not for profit youth swim team. Led start-up process, completed 501 (c) (3) application- approval, and merger-combination with other swim team.

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