Finance (CFO)

CFO - Nuclear Services

Finance (CFO)

$1M
Increased LOC by $1M
Maximized
cash at sale
Decreased
insurance costs
Both CFO and CIO had great backgrounds, great professional experience, very easy to work with, no hand holding, very professional and really had a goal and got it done.
Company Profile
Nuclear Services
$25 million
Family owned
Position/Timeframe
Interim CFO
1-2 days/week, 24 months
Interim CIO also in place for 1 day/week, 10 months
Situation
Bank would not renew LOC, was requiring owner assets
Finances were not credible for banking or exit purposes
No budget going into busy season
No reporting or processes in place
Limited bandwidth of owners and executive team
Implementation
Created interactive cash flow budgeting model
Determined annual and monthly break even sales volume to interact with model for real time decision making
Created job costing allowing for better staffing decisions
Referred in risk manager and insurance broker who resolved favorably insurance loss issues
Hired full time Controller for everyday needs

Results

  • Company successfully sold with credible finances
  • Maximized cash proceeds at sale to owner due to projections and planning
  • Savings in insurance reductions and IT costs
  • Successful banking relationship throughout assignment with LOC increase by over $1M