CFO / Controller / VP Finance / Turnaround and Performance Consultant
Resume:
Steven L. Sandstrom, CPA
Naperville, Illinois 60564
Telephone: 630-***-****
Email: *****@***********.***
CFO / Controller / VP Finance / Turnaround and Performance Consultant
Deal Structuring/Strategic Planning/Business Integration & Divestiture/Instituting Cost Reduction Strategies/Developing Technical Financial Systems/Mergers & Acquisitions/Modeling/13-Week Cash Flows
Chief Financial Officer and Vice President of Finance with more than 20 years of domestic/international risk asset experience in designing corporate business strategies, building system controls, and exceeding revenue performance targets for organizations ranging from $20 million to $100 million in annual revenues.
Senior-level finance management and startup/turnaround situational acumen gained over the past 20+ years encompasses:
-Collaborated on all aspects of 17 mergers and acquisitions, orchestrated and implemented 5 business turnarounds, and recruited to handle financial functions of an e-commerce startup that subsequently secured a $24 million round of financing with the intention of moving towards an IPO.
-Favorably negotiated $2.2 million in mezzanine financing, $2.25 million in working capital, and $3.5 million in equipment financing within to support turnaround and rapid growth for a privately-held business service entity.
- Consolidated and sold contracts of 7 entities, which raised capital to complete early retirement of corporate turnaround debt, and successfully argued $500,000 of income tax abatements before the IRS for a privately-held business entity.
Core competencies:
Operational/Financial Systems Implementation & Controls; Strong Quantitative & Qualitative Analysis Skills; Negotiating & Structuring of Financing; M&A Deal Structuring & Post-Acquisition Integration; Creating a Shared Operational Vision; Instituting Quality Initiatives; and Process Design & Reengineering.
PROFESSIONAL EXPERIENCE & ACCOMPLISHMENTS
FINANCIAL/MANAGEMENT CONSULTANT, Naperville, Illinois 2009 - Current
Financial & Management Consultant - Engagements have included: interim management, financial and operational turnaround advisory, business modeling, budgeting/forecasting, costing systems design and implementation, financial reporting, and financing negotiations.
Clients have included: the consulting services group of a major CPA firm, international turnaround consulting firms, a major insurance company, construction contractors, B2B direct marketing company, lumber mills, beverage distributor, software developer/distributor and technology startup entities.
SPECIALTY STORE SERVICES, INC., Des Plaines, Illinois 2007 to 2008
Corporate Controller - Lead Financial Executive of this $25 million international cataloger/distributor of Retail Store Fixtures and Supplies.
-Authored and implemented turnaround strategies yielding 45% reduction in inventories and more than 50% reduction in labor costs, as well as the re-focus of management to derive revenues from direct sales in addition to historical catalog revenue strategies.
-With the directive of diversifying ownership investments, negotiated and completed an acquisition of a cataloger/distributor of living assistance products, as well as coordinated financial and administrative support efforts of a startup pet food distributor.
-Initiated Strategic Planning and Budgeting efforts, establishing responsibilities and accountabilities to control costs and growth efforts.
CAPITAL BUILDING SERVICES GROUP, INC., Buffalo Grove, Illinois 2001 to 2006
CFO & Corporate Secretary - Originally contracted as a consultant and later hired as CFO to direct business turnaround of this $12 million retail janitorial services contractor, subsequently coordinating rapid growth to more than $35 million. Responsible for financial integrity of the firm, including treasury function, banking relationships, financial reporting/accounting, legal matters, risk management/insurance, and government compliance.
-Returned the business to positive cash flow and profitability within one quarter and refocused business strategy to core market, reengineering the business model, building quality assurance systems and budgetary controls, while
tying management and employee incentive plans to measurements of results.
-Provided for infrastructure, financing and support during 3 consecutive double-growth years (2003-2005), as total employment swelling from under 300 to more than 2,000 over that period. Delivered the highest margins in the company's history while directly responsible for operations in 2003.
-Favorably negotiated a 20% savings in corporate insurance programs by aggressively remarketing coverage through competitive brokers and direct underwriters.
MERCANTEC, INC., Naperville, Illinois 1999 to 2000
CFO - Recruited as Director, Finance and Administration to provide necessary infrastructure and accommodate rapid growth for this Internet e-commerce technology startup in anticipation of impending equity transactions, including potential IPO. Promoted to CFO after one year during a management reorganization and turnaround.
-Directed live information systems implementations (MAS90, ADP payroll, Sales and Support Logix) while simultaneously overseeing build-out of company's network infrastructure and remote communications capabilities.
-Developed and implemented strategic planning process, critical metrics, routine budgets and forecasts, responsibility-based management and financial reporting, while managing relationships with bankers, legal counsel, and independent accountants.
-Supported negotiations for a successful $23.5 million private-equity financing round, resulting in a change in control of the company. Played an integral role in merger and acquisition activities of the organization.
MEYERCORD/MEYERCORD INTERNATIONAL, INC., Carol Stream, Illinois 1997 to 1999 and 1987 to 1992
VP, Finance & Administration - Hired as Accounting Manager in 1987 and rejoined this $40 million manufacturer of decals and coated materials in 1997 to build the finance/administrative functions for a management buyout and turnaround. Primary responsibilities included finance, accounting, information services, human resources and administration. Duties also encompassed materials management, purchasing, shipping, and warehousing functions.
-Managed information systems implementations, establishing processes for successful growth. Developed and executed strategic planning process, critical metrics, routine budgets/forecasts, responsibility-based management,
and financial reporting.
-Negotiated $3.5 million of working capital financing that reduced interest costs by approximately 1%.
-Supervised the deployment of MRP, resource planning, scheduling, and purchasing functions. This effort cut inventory levels by 35%.
-Completed foreign and domestic acquisitions and subsequent business integration while minimizing foreign accounts risk by utilizing letters of credit drawn on U.S. banks.
PROFESSIONAL EXPERIENCE PRIOR TO 1997
MOTIVATION MEDIA, INC., Glenview, Illinois 1994 to 1997
Senior Vice President, Finance & Administration - Initially joined this $25 million group of 4 companies operating in the multimedia, production, and raining software development markets to lead finance, accounting, information services, HR, and administrative functions. It was determined shortly after hire that this was to be a turnaround situation and eventual sale. Charged with designing and orchestrating the turnaround, as well as handling all aspects of the sale to a strategic buyer, which were completed and resulted in exit.
DIEBEL MANUFACTURING COMPANY, Morton Grove, Illinois 1992 to 1994
Director of Accounting & Administration - Recruited to provide financial and administrative support and infrastructure to this $25 million turnaround in the tooling and metal stamping industries.
ALLSTEEL, INC., Aurora, Illinois 1984 to 1987
KPMG, Chicago, Illinois and
CLIFTON, GUNDERSON & CO, Peoria, Illinois 1980 to 1984
EDUCATION & PROFESSIONAL DEVELOPMENT
B.A., Accounting, Bradley University, Peoria, Illinois
Certified Public Accountant - Illinois
Turnaround Management Association Member - Approved to test for certification
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