Business Development Financial Reporting

KENNETH VANDEN BERG CPA CGMA

Scottsdale, AZ / 616-***-**** / ****@*******.***

SUMMARY AND PROFILE

Decisive executive with demonstrated ability to think strategically and implement tactically. An accounting and finance professional with diverse experience in Public, Private, Private Equity, Single and Multi-Family offices, and most aspects of industry accounting, financial reporting, strategic planning, forecasting and analysis, acquisitions thru integration, new business development, working capital management, and extensive financial management skill. An extremely motivated, thorough, and positive individual whose work is completed with the highest regard to integrity and professionalism with a "hands-on" work ethic. Cultivates, develops and fosters collaborative teamwork through an interactive and flexible management style. Completed over 100 M & A transactions. Completed 13 Entity Sales to PE or Strategics.

Expertise

Enterprise Solutions Solution Implementation Technical Accounting Research Revenue Recognition

ERP /SAP /Financial System Implementations Strategic & Financial Planning Change Management

SEC, GAAP and IFRS Compliance & Reporting Restructurings & Divestitures Project Management

Value Added LEAN Process Improvement Internal Audits Accounting Accounting Systems

Forecasting, Planning & Analysis (FP&A) Finance 401K Management Strategic Initiatives

Mergers, Acquisitions & Integration Stock Based Compensation Financial Modeling

SOX Internal Controls & Reporting Pricing & Transfer Pricing Presentation Skills

Banking, Legal & Audit Relations Government Contracting Risk Management

Global Financial Consolidations Team Leadership Cross-Functional

Growth Oriented BEPS /FAR /CAS Bank Covenants

Cost Allocation Due Diligence Global Taxes

DCSA FOCI Tax Filings Leases

ICOFR SaaS Shared Services

PROFESSIONAL EXPERIENCE

MedAire, Inc., an International SOS Company Headquarters in Phoenix, AZ

Chief Financial Officer December, 2023 to Present

MedAire delivers medical, security and operational support to clients in the air, on land and at sea. Commercial Aviation, Business General Aviation, Yachts and Commercial Maritime Vessels are the core business customers. From the design and development of medical kits for use by the non-medical responder, to the innovation of developing the world’s first global response network for aviation, the company touches millions of people in need annually. The Company designs and manufactures Medical Kits and Equipment for Aviation; Aviation and Yachting Medical and Security Services; Management of In-Flight and Pre-Flight Illness and Injuries. Globally over 12,000 security, medical, logistics and digital experts provide support and assistance, 24/7, 365 days, with over 1,400 doctors and 200 security specialists in over 1,200 locations in 90 countries are available to service our clients, their families and employees. Customers include the majority of the Fortune Global 500 companies. Revenue Cycle includes major Domestic and International Insurers. Over 9,000 calls a day on average are managed by our Global Assistance Centers. Since arriving at the Phoenix HQ for MedAire, I have been deeply involved in:

Building a Team. Successfully completed the hiring of a US Corporate Controller, and multiple Sr Accounting Specialists. Trained the team in LEAN principles and Value Creation and elimination of Wasted Resources.

Lead and Mentor the Finance and accounting teams, fostering a culture of excellence and accountability.

Working Capital Management. Implemented additional reporting rules, 26 Week Rolling Forecasts, tighter operations controls, more frequent reporting, testing of new methodologies. Expanded Shared Services

Audit Cleanup. Focused on wrapping up a number of multiple year open audits globally, and cleanup process for Bal Sht Accounts. Multiple years needed to be completed and filed Internationally – UK, Germany

Balance Sheet Cleanup. Hired CBIZ consultants to assist in reconciling Bal Sht Acs that had not been done for multiple yrs. 3 – 5 years of accounts other than Cash that were not reconciled and covered up profitability

Tax Filings. Completing open period tax audits for VAT in the UK and German locations. Initiated Avalara US tax audit. Multiple years – 3 – 6 were open as the audits were open. These were all completed this year.

Systems Failures. Digging in and documenting multiple system failures, the in-place work arounds, and plans for fixing. Team was not aware of how many processes were broken or were being manually completed.

ERP and Salesforce. Have brought in outside professionals to update and upgrade a number of processes in GP and SF. Company was running on 10 year old version of GP that was going to non-support by Msoft.

E-Commerce. Assisting with the establishment of an E-Store on Shopify for US equipment purchases for Yachting clients. Saved many hours of labor in sales, fulfillment and accounting, cash processing.

Lean. Conducted Value Stream Analysis events with cross-functional teams in operations, medical billing, digitization, A&F. Eliminated a lot of duplicate manual work processes and work arounds by automating

Culture. Started building a culture of collaboration, servant orientation, accountability, scalability and professional growth. Regular team meetings became very informative and effective problem solvers.

Champion Motorsports Group, LLC Phoenix, AZ

Chief Financial Officer

February 2022 - December, 2023

Champion Motorsports Group is a manufacturer and distributor of entry level power sports products - Mini-Bikes, Go-Carts, ATV’s, UTV’s, Golf Carts, Scooters, Outboard Motors and Portable Generators. The company doubled its revenues to over $225M at 12 31 21. The company founder brought in a major NYC Private Equity firm in October, 2021 to finance the anticipated future growth. The company sells to major Big Box retailers - Lowes, Walmart, Tractor Supply and a number of regional retailers that have a power sports retail base. Our PE firm worked hard to add additional professional leaders into the company. The Company completed a successful Chapter 11 Reorganization in Q1’23. Our CEO was able to obtain permission from our PE Firm to relocate all of our AZ operations to Mesquite, TX. My Team and I did not move to TX for many reasons. Since arriving at the Company, I have been heavily involved with:

As the Chief Financial Officer, I was responsible for all financial reporting, financial consolidations, foreign and domestic taxes, transfer pricing, shared service operations, internal controls and process improvements, policy definition and integration, financial planning and analysis, all transactional accounting, external audit management, ecommerce compliance, relations with vendors and distributors, treasury and bank relations, cash management, credit card processors, inventory control, cost accounting, margin analysis and improvements, Working Capital Management, all Internal Audits, Risk Management, Human Resources, IT, and the staff management, training, hiring, disciplining and firing of those associated with these functions.

Three steps used in Risk Management processes - risk identification, risk analysis and assessment, and risk mitigation and monitoring. Programs are designed to meet legal, contractual, internal and ethical goals - primary goal of business continuity and success. Treasury management for international locations included currency hedging when appropriate, same country receipt and bill pay, primary commercial banks and non-traditional providers of currency conversions used - PayPal, AMEX, Wise, WorldRemit

Insurance products I am familiar with and have used in multiple companies - Cybersecurity, Commercial Property Damage, Officers and Directors, General Liability, Workers Compensation, Business Interruption, Commercial Auto & Truck, Umbrella and Umbrella Excess, Key Person, Errors & Omissions, Technology Errors and Omissions.

Building a Team. Have successfully completed the hiring of a Corporate Controller, Asst. Controller and a Director of FP&A. Re-trained existing employees at levels that they were capable of.

Built product, product line and customer profitability reporting systems to establish and monitor all related work. Built P & L’s by customer for all current and future planned purchases.

Established the financial and operational reporting systems required by our PE firm including the Board Packages. Prior to arriving at the Company there were only informal internal presentations that were weak

Established recording, reporting, compliance and controls systems for proper documentation for our audit.

Expanded the use of the NetSuite ERP applications and added Blackline Analytics to our NetSuite Platform.

Heavily involved in the Supply Chain and Inventory Management functions of the business.

Launched the company’s first Certified Audit with the PE firms selected national audit firm.

Completed the Purchase Accounting and Valuation ASC 805 work with outside firms.

Deliver All financial reporting packages to our Senior Lender with accompanying Compliance Certificates

Compass Electronics Solutions, LLC St. Louis, MO

Chief Financial Officer

August 2020 to February, 2022

Compass Electronics Solutions, a $165M Revenue company, creates complex and critical electronic devices for medical device development, reliable security, aerospace and defense solutions, retail and financial kiosks, and transportation industries. The company has design, engineering and manufacturing services in Eden Prairie, MN, and manufacturing operations in Dayton, OH, El Paso, TX and Juarez, MX. The company maintains quality certifications required by regulated industries. The company is principally owned by the Private Equity firm

Compass Eq Grp, LLC based in St. Louis, MO. Liquidity Events based move.

Improved Supply Chain controls and forecasting application usage to reduce excess purchasing and inventory. Purchase order controls and monitoring of issued and outstanding PO’s was established.

Completed the Strategic Sale of 2 divisions with our PE Firm receiving double-digit multiples in Q3 2021

Completed CAPEX financing for MEX operations with non-traditional lenders with Sr Debtor approvals

Negotiated multiple vendor accounts payable terms to match or exceed our customers payment terms

Completed 2 Mfg. plant closures in GA and IN due to the customer issues with the C19 Pandemic

Leader for Accounting, Finance, FP&A, Treasury, Legal, HR and IT teams across all entities.

Implemented inventory management and control systems in OH, TX and MX operations

Completed 2 major right-sizing activities for manufacturing operations in OH, TX, MEX and MN

Integrated the company’s primary ERP system into the operations in TX, MEX, MN and OH

Negotiated new manufacturing facility leases for plants in MN and JZ, MX

Invoiced customers in MEX and received payments in MEX. Purchases in MEX made with Peso’s.

oQuality Systems at the Company: ISO 9001:2015 – Certified Quality Management System, AS 9100:2016, ISO 13485:2016, ISO 14001:2015, IATF 16949:2016, ISO Cleanroom Class 7. Marks – UL, RoHS Compliant, ITAR, CIPC, CSA

Lombart Instrument Holdings, Inc. Norfolk, VA

Chief Financial Officer

May, 2018 - August, 2020

High Tech Healthcare Equipment Distribution and Manufacturing company, $278M in Revenues, with Distribution Centers in Canada, Mexico, and multiple locations in the USA. The company is the largest distributor and manufacturer of Ophthalmology Equipment and consumables and has a sales force that covers all major metro areas in North America by employed Sales Persons and Technicians, or thru ecommerce. The company has a professional services group of over 100 staff that service equipment across North America. The company is principally owned by Private Equity firms – Atlantic Street Capital and Golub Capital, Inc. Liquidity Event based move.

On a consolidated TTM basis the company is a $278MM revenue company with EBITDA currently in excess of $35MM Annually. We grew sales organically in Double Digits (12.4%) while the industry grew at 3.5% in 2018

As CFO, I led all Accounting, Finance, F P & A, and Treasury, 401K management, Inventory Control, Risk Management, HR and IT functions in the businesses. The company currently uses SAP and MS Navision ERP systems. All acquisitions were integrated into one of these two systems.

No negative major audit adjustments over two years – added to EBITDA – positive comments from Audit Partner. One year was Open on arrival and was finished within 90 days of arriving.

Established documented systems and controls for acquisitions; Business process change rollouts; change management and communications implemented, development of teams training materials with video requirements so processes and workflows were the same for everyone in the business

Procurement and Supply Chain systems, financial purchase order processes, procurement, and payables training were a key part of getting everyone involved on the same page and working rules.

Completed 5 integrations of acquired businesses in the past 12 months in Canada, Mexico and the USA

Implemented full ERP system into two acquisitions; managed third party contracts and contractors

Completed 4 acquisitions in MN, CA, MO, TX, and FLA and fully integrated them in 12 months

I was the Leader of 8 Direct reports and 32 Indirect across all company locations.

Market America, Inc. SFO /Greensboro, NC

Sr. Vice President of Finance

April, 2013 - April, 2018

SFO working as $1.25B International Manufacturer and Distributor of Cosmetics, Nutritional, Personal and Home Care products (FMCG), ecommerce, Retail, SaaS, and High Velocity Media Distribution, with primary locations in USA, China, Hong Kong, Taiwan, Malaysia, Singapore, Australia, United Kingdom, Spain, Panama, Mexico and Canada. Managed all treasury and international cash transactions, taxes, funds repatriation to the USA.

As the Senior Finance Officer, I was responsible for all financial reporting, global consolidation of 26 different entities with multiple currencies, foreign and domestic taxes, transfer pricing, shared service operations, internal controls and process improvements, policy definition and integration, financial planning and analysis, all transactional accounting, global external audit management, ecommerce compliance, relations with vendors and distributors, treasury and bank relations, cash repatriation, credit card processors, inventory control, cost accounting, margin analysis and improvements, all Internal Audits, and the domestic and international staff management, training, hiring, disciplining and firing of those associated with these various functions. Worked to Upskill as many of my team as possible, domestically and internationally.

Financial and Operational Management responsibility for the Family Office Portfolio of Private Companies that include SaaS, Real Estate Portfolio, Construction, Property Management, Luxury Yachts, Retail Portfolio, ecommerce Portfolio, Hospitality Group, Media Portfolio and Broadcasting group. $400MM in Revenues.

Special projects manager for evaluating target countries for expanded sales, manufacturing, and distribution operations. Added 5 countries while I was SVP Finance that added significant sales and profitability.

Built the business case and plans for establishing an offshore headquarters relocation for ownership tax advantages in Puerto Rico. Trump was elected and many tax advantages went away, and so did the move.

Added 3% to Gross Margin thru effective controls in procurement, logistics, proper accounting & margin analysis. Manufacturing BOM’s were properly built and costed which generated changes in pricing & margin

Significant purchasing, inventory control, expense management systems implemented in all portfolio companies so that they had contribution and were not a distraction for management of the Enterprise Co.

Detailed Product Line Profitability analysis resulted in opening a new manufacturing facility to save $5-6MM/year in Panama City, Panama. Taiwan Treaty for use of the Canal also benefited the company.

Negotiated agreements for our primary payment method that kept CC costs at less than 1.80% consolidated

Instituted monthly close controls, reviews and checklists that reduced the number of days to close to 5 days.

Established foreign and domestic tax provisioning checklists, controls, reviews, and submissions processes.

Balance sheet and Cash Flow statements are now presented and reviewed monthly vs. annually after audit.

Re-engineered the Financial Reporting Processes on a Global Basis to current US GAAP levels.

Integrated Resources Group, Inc. /Grand Rapids, MI

Director, Chief Operating Officer

November, 2006 - March, 2013 Consulting

Company specializing in providing sustainable solutions to retailers, high tech manufacturers, ecommerce companies, and service organizations.

On a Contract basis worked as a project professional for two multi-billion public Oil & Gas Co’s, Markwest Energy Partners and Questar Corp, assisting EY with integrating controls, and completed the year end audit and financial reporting requirements. One of these projects was to manage the integration of a major acquisition into the acquiring company’s financial and management reporting systems; documentation of all systems of the acquired company’s operating procedures; integration, education and training of policies, processes and systems for the acquired company of the New Owner, i.e., change management. This also included the SOX systems integration and reporting processes, in addition to portions of the ERP systems and controls.

Increased Retail Group Store Sales by 43% and 39% yr. over yr. for two years. Delivered strategic analysis and planning, re-structuring, product line analysis and focus, marketing solutions for ecommerce and retail situations, inventory costing and control process upgrades.

A major project for one O & G Company was the evaluation of the use of excel spreadsheet-based reporting processes and required a complete design and integration of Excel Best Practices and controls into their internal and external reporting processes. This work was reviewed and integrated into EY’s controls program. The proper management of spreadsheets was a company wide training program.

Contracted thru Steven Douglas Associates as Interim Corporate Controller for two multi-billion + in revenue public companies in international mfg. and services completing year end audit with E&Y and Deloitte, and all year end public company reporting requirements for 10-K, meetings with their Disclosure and Audit Committees, review and submission of domestic and international tax filings;

Senior Project Manager for a multi-billion in revenue Global Automotive supplier, doing SEC Reporting, Technical Accounting, SOX process improvements, International Tax Reporting and controls systems installed, and Policy & Procedures updating across all manufacturing operations.

Worked with KPMG on the quarter and year end audits and reporting for this Global Manufacturer.

Interim Corp Controller in Orlando, FL for acquired Div. of a Philadelphia Public Co. by Google.

Buy-side M & A, due diligence and integration specialist. Change Management processes used regularly.

TABcom, LLC /Hazleton, PA

Interim Chief Financial & Chief Operating Officer Ecommerce Co

February, 2008 - January, 2010

$120MM+ Privately Held, Direct to consumer, Multi-Channel Retailer of Pet and Equine supplies, toys and consumables, Lawn & Garden and Camping products. 85,000+ SKU’s. Distribution centers in PA, MO and SC. #2 in both the Pet Supplies & Equine Industries. Company is a major importer and has its own buying offices in China & Taiwan.

Directed all SAP accounting, GL, and financial management activities. Monitored sales, expenses, A/P, A/R, and Credit & Collections. Prepared all financial statements. Performed cash management and forecasting.

Performed tax planning, domestic and international tax filings, financial planning and analysis, budgeting, cost and inventory control.

Operational Management responsibilities for Purchasing, Human Resources, Retail, Distribution, Shared Services and Call Centers. Oversaw the implementation of the Multiview financial management and reporting system for multiple divisions.

Lead all aspects of the Financial Reporting process to ensure that Planning & Analysis, Budgeting, General Accounting, Inventory Control, Sales, Audit, Payroll, Treasury, Risk Management, Consolidation and Financial Modeling and Planning reporting areas are effectively managed. Reduced Month End Closing Time to 5 days. Restructured the accounting department to improve timeliness and accuracy of analysis and financial reporting.

Reduced Business Inventory Levels by 20% by managing buying practices, inv. control and our import program. Full documentation was generated and supported all purchase orders issued.

Extensive support to the Sales, Marketing and Merchandizing functions in the areas of new business development, product Gross Margin analysis, Product and Line Pricing and the evaluation of Discount Programs. Managed Retail Store operations in multiple locations on the East Coast of the USA.

Plan and perform financial Due Diligence for Acquisitions to identify business and accounting risks and worked extensively with Exec. Management and Legal Counsel to resolve purchase agreement issues. Coordinated all aspects of the integration of systems, processes, cash management, and financial reporting requirements for all divisions of the business, and reported monthly to ownership.

Responsible for managing relationships and negotiations with Auditors, Bankers, Insurance Brokers, Legal teams. This included Letters of Intent and Acquisition Agreements for all transactions executed.

Reduced Staffing in the Distribution Centers by 23% thru better hiring practices and inventory management.

Increased Efficiencies by 25% in the Distribution Centers thru effectively using the ERP system tools.

Flextronics International USA, Inc. - San Jose, CA

Interim Segment Controller

October, 2007 - February, 2008

Publicly Traded, $35B Global Contract Electronics & Capital Goods Mfg. with Global manufacturing operations in 16 countries and sales/engineering offices in 46 countries. My Segment was the $3.5B Capital Goods Mfg. Group with Mfg. operations primarily in the US, Germany, Japan & China. 17,000 employees globally. Major Consumer Electronics Mfg. SAP, OutlookSoft, Oracle PeopleSoft ERP systems used here.

Responsible for the preparation of all Segment internal financial reporting and SEC reporting requirements.

Developed Financial Modeling process for evaluating complex acquisitions, buy/build decision processes for business acquisitions, and product line acquisitions. Complete FP & A, market pricing and marketing plans.

Management of Vendors, Credit & Collections, and SOX controls evaluation & reporting, and Department personnel for Domestic and International operations.

Managed International Tax filings for all offices and manufacturing operations in SE Asia and European Union. Worked with Deloitte and KPMG in these areas.

Innova Holdings, Inc. - Fort Myers, FL

Interim Chief Operating Officer - Chief Financial Officer

December, 2006 - October, 2007

Development Stage Public Company Global Mfg. and Distributor of Robotic Device Controllers, Machine Tool Controllers, Robotic Medical Device Controllers, Robotic Software development and integration, Biotech and CRO contracts. Principle customers were Microsoft, IBM, Homeland Security, Harris Corp., Becton Dickinson, DCX, and US Military Agencies. Completed and integrated 2 acquisitions to strengthen technical robotic software capabilities & machine tools.

Improved the accuracy of cash flow forecasting. Reduced the Burn Rate by 25%. Increased Inventory Turns 2X. Measured actual performance to forecasted performance weekly to tighten accuracy of reports.

Created the Cash Flow, P & L, Inventory Control and Product Costing models required to manage the business. Systems and process documentation was non-existent when I arrived. All done by Gut feelings.

Designed and developed detailed Budget and Cost modeling plans with actual comparison to agreed scorecards. Trained all managers in the organization on how to read and work with Budges and financials

Emerson Electric Company /Huntsville, AL

Global Corporate Controller / Avocent Div

January, 2004 – November, 2006

Publicly Traded, $26B Global Electronics Manufacturer that was the Global Leader in KVM and Digital Switching systems for Data Centers, including hardware, software, embedded and mobile solutions. Primary customers were Dell, HP, IBM, SunMicro, TechData, Ingram Micro, US Government, and most major US & European Banks & Insurance Co’s.

Led Global Shared Service operations for Business Units in USA, China, Taiwan, Ireland, UK, Germany & France. This covered all AR, AP, Inventory, Cost Accounting, Payroll and tax reportings.

Responsible for Global Consolidated Financial Reporting, including SEC Reporting & statutory reporting. Managed all Foreign Exchange hedging programs with third party consultants.

Completed & Implemented 8 Global Acquisitions into our SAP ERP System, including the financial & control processes established by my team of Finance, Tax and Accounting Professionals. 59 Global team members.

Managed Mfg. reporting teams in multi-site, multi-state and multi-cultural manufacturing & distribution centers scattered across the Globe.

Served as the Primary interface with the Corporate Audit Committee on Global Reporting, Processes & Controls. Met with the Audit Committee quarterly in preparation for Quarterly Board of Directors meetings

Oversaw all financial transactional processing including AR, AP, Credit & Collections, Payroll, Taxes, Inventory, Cost Accounting, Consolidations, Pricing, Transfer Pricing, Cash, Treasury, Risk Management, & All Audit Work. Established an Internal Audit function in the Organization.

Implemented SAP, SOX processes, compliance reporting, control & testing for the Company on a Global Basis.

Updated systems and controls for domestic and international tax return preparation, reviews and filing.

ARTHUR ANDERSEN Grand Rapids, Michigan

Manager - Senior - Audit & MAS Assurance Services

January, 1988 – December, 2003

Manager - Senior - Audit and MAS - Assurance Services for Automotive, Aerospace and Defense, Open Office Furniture Systems, Appliance, Retail and Distribution Industry companies in Western and Central Michigan. Significant work in transaction advisory services for multiple SMB clients in the Midwest primarily.

EDUCATION AND OTHERS

Northern Michigan University Marquette, MI

B.S. Accounting & Finance, B.S. Economics & Banking

Certification

Certified Public Accountant (CPA) - State of Michigan (Active) Member of AICPA, MACPA, AFP, ACIF

Charted Global Management Accountant (CGMA) (Active) - AICPA, CIMA

Certified Treasury Professional (CTP) - (not Active)

Certified Internal Auditor (CIA) - (not Active)

Technical Skills

SAP /Oracle PeopleSoft /Outlook-Soft /Oracle JD Edwards ERP /MAPICS /E-cometary /MAS400 /Multiview, Viewpoint /ADP /FAS /FRX /Crystal Reports /Excalibur-Edge /Hyperion FM /Essbase, MS-Excel /Word, PowerPoint, Access /Outlook /Teams/Project /Visio/Power BI /Blackline /Web-filings /Equity-Edge SharePoint /Deltek Cost Point, Concur /Intuitive /Xcel-Audit, MS Dynamics 365 - Navision & Great Plains, NetSuite /Sales-Force /Sales-Pad /AP One.

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