Landfill Operator & Commercial
Mulch Company -Turnaround
This firm was hemorrhaging cash and had only
paid vendors whose supplies were essential for continued
operations. Two months earlier, the owner had fired the
COO, after which the CFO and Controller both quit without
notice.
Because Accounts Receivable and Payable were two
months behind, collecting outstanding AR and posting all
unentered invoices and receivables were the initial
priorities.
Reviewing sales receipts at a client’s recycling landfill, we
noticed that the site manager was not charging cash
customers from the price sheet. Instead, he charged the
base rate of $40 each, rather than $60-$100. With 100+
daily cash customers six days a week, charging the correct
amount increased cash receipts by $90,000 per month.
Designing and implementing a sales forecast by location by
product, led to an inventory and production system that
anticipated orders. Having adequate inventory during
peak times, increased customer satisfaction leading to
more add-on product sales. Balancing inventory
production allowed the company to transfer one employee
to fill an opening at another location and reduced overtime.
Divesting a small nursery allowed the company to reduce
debt and to create greater synergies among other divisions
that were organically related to each other.
At the end of this engagement, the company was profitable.
It was embarking on a program to refinance its $8,000,000
in heavy equipment debt to reduce monthly financing
expense by $26,000. The landfill division was scheduled
to return over $2,000,000 in free cash flow in the next 12
months.
Warehousing and Distribution
After stepping in as CEO of a family-owned
company, I reorganized and grew revenues 100% in
five years. Later, we negotiated the sale of the firm to a
multi-billion dollar publicly traded company.
Setting up a purchasing schedule for this distribution firm,
allowed the company to trim positions in that department
from, 4 full time to 1 ½ employees, reassigning the former
purchasing agents to open sales support positions. These
positions increased the number of customer sales inquiries
answered per day resulting in higher revenues.
Phase two reorganized delivery logistics to increase
deliveries by 200% over the previous system with a mixture
of scheduled routes and on-demand deliveries.
Pricing value-priced merchandise to maintain profit dollars
not only increased sales in commodity product categories
but maintained contribution margins. The increased sales
volume resulted in higher dollar profits for the product line.
Mobile Medical Clinic
This medical firm had doubled revenues every 18
months for the previous five years. EVV
Management provided cash flow financing and operations
assistance to allow the business to double again.
By revamping scheduling procedures, this medical practice
was able to see more patients in a more timely manner.
Assigning one provider to perform complicated, specialty
procedures increased productivity of doctors and staff. This
specialization increased overall company revenues.
Mulch Company -Turnaround
This firm was hemorrhaging cash and had only
paid vendors whose supplies were essential for continued
operations. Two months earlier, the owner had fired the
COO, after which the CFO and Controller both quit without
notice.
Because Accounts Receivable and Payable were two
months behind, collecting outstanding AR and posting all
unentered invoices and receivables were the initial
priorities.
Reviewing sales receipts at a client’s recycling landfill, we
noticed that the site manager was not charging cash
customers from the price sheet. Instead, he charged the
base rate of $40 each, rather than $60-$100. With 100+
daily cash customers six days a week, charging the correct
amount increased cash receipts by $90,000 per month.
Designing and implementing a sales forecast by location by
product, led to an inventory and production system that
anticipated orders. Having adequate inventory during
peak times, increased customer satisfaction leading to
more add-on product sales. Balancing inventory
production allowed the company to transfer one employee
to fill an opening at another location and reduced overtime.
Divesting a small nursery allowed the company to reduce
debt and to create greater synergies among other divisions
that were organically related to each other.
At the end of this engagement, the company was profitable.
It was embarking on a program to refinance its $8,000,000
in heavy equipment debt to reduce monthly financing
expense by $26,000. The landfill division was scheduled
to return over $2,000,000 in free cash flow in the next 12
months.
Warehousing and Distribution
After stepping in as CEO of a family-owned
company, I reorganized and grew revenues 100% in
five years. Later, we negotiated the sale of the firm to a
multi-billion dollar publicly traded company.
Setting up a purchasing schedule for this distribution firm,
allowed the company to trim positions in that department
from, 4 full time to 1 ½ employees, reassigning the former
purchasing agents to open sales support positions. These
positions increased the number of customer sales inquiries
answered per day resulting in higher revenues.
Phase two reorganized delivery logistics to increase
deliveries by 200% over the previous system with a mixture
of scheduled routes and on-demand deliveries.
Pricing value-priced merchandise to maintain profit dollars
not only increased sales in commodity product categories
but maintained contribution margins. The increased sales
volume resulted in higher dollar profits for the product line.
Mobile Medical Clinic
This medical firm had doubled revenues every 18
months for the previous five years. EVV
Management provided cash flow financing and operations
assistance to allow the business to double again.
By revamping scheduling procedures, this medical practice
was able to see more patients in a more timely manner.
Assigning one provider to perform complicated, specialty
procedures increased productivity of doctors and staff. This
specialization increased overall company revenues.
 | |  | |  | |  | |  | |  |
Ed VanVoorhees
Management &
Investment
Management &
Investment
Industrial Service Company
By reorganizing a company’s accounts
receivable collections procedure, Days
Sales Outstanding declined from over 60 days to
under 45 days. The owners were able to pay down
bank debt and increase working capital for growth.
The firm no longer needed additional equity capital,
which was the basis for the engagement.
Light Manufacturing Company
A supplier of custom exterior shutters for
home builders, this company was nearly
insolvent from several unsuccessful products. The
owners, their families, and friends had all provided
capital. Several lawsuits from unpaid suppliers were
pending or imminent.
Order delivery was consistently 4-6 weeks late. The
company faced litigation from unhappy customers.
Implementing a strict cash management program
helped to conserve cash and keep creditors at bay.
Like most business owners in a turnaround, the
principals were not happy to reduce their lifestyles in
order to make the company healthy faster.
The order backlog was a result of a production
bottlenecks at the CNC machine that limited the
productivity of assemblers. By splitting production
shifts, the company could operate this machine an
additional six hours daily. In two months, this system
reduced the order backlog form eight to three weeks.
The firm was able to deliver new customer orders on
time.
EVV Management located additional outside capital,
which paid down enough creditors to deter further
litigation.
The firm then accelerated design and regulatory
approvals of a compliant "hurricane shutter." By
getting this product to market before a major
competitor, the company was able to prosper.
Smoked Meat Company
A niche smoked meat (turkey) company
enjoyed a lucrative holiday business, but year
around operations consumed all the seasonal profits.
The company had a small annual revenue stream
from sales to local delis, yet these revenues were not
sufficient to let the company cash flow during the
other eight months of the year.
While the CEO was a stellar salesman, he was not a
good production or financial manager. EVV
Management brought a credit line and implemented a
disciplined operating plan.
EVV Management Created a sales strategy to expand
sales to hotels and grocers. The CEO quickly brought
in many new customers. Among these was a large
hotelier whose monthly purchases were over 4,000
pounds of commercial product.
A senior manager of a large retailer enjoyed some of
the product when visiting a hotel. He asked our CEO
to visit his headquarters in New York City striking a
deal to put the whole smoked turkey product in the
retailer's Holiday Sales Catalogue. This one account
increased holiday sales by over 25%.
Commercial sales passed breakeven levels and
holiday revenues were the highest in the company's
history. EVV Management exited this investment by
bringing in an individual investor with strong interest
in this market segment.
By reorganizing a company’s accounts
receivable collections procedure, Days
Sales Outstanding declined from over 60 days to
under 45 days. The owners were able to pay down
bank debt and increase working capital for growth.
The firm no longer needed additional equity capital,
which was the basis for the engagement.
Light Manufacturing Company
A supplier of custom exterior shutters for
home builders, this company was nearly
insolvent from several unsuccessful products. The
owners, their families, and friends had all provided
capital. Several lawsuits from unpaid suppliers were
pending or imminent.
Order delivery was consistently 4-6 weeks late. The
company faced litigation from unhappy customers.
Implementing a strict cash management program
helped to conserve cash and keep creditors at bay.
Like most business owners in a turnaround, the
principals were not happy to reduce their lifestyles in
order to make the company healthy faster.
The order backlog was a result of a production
bottlenecks at the CNC machine that limited the
productivity of assemblers. By splitting production
shifts, the company could operate this machine an
additional six hours daily. In two months, this system
reduced the order backlog form eight to three weeks.
The firm was able to deliver new customer orders on
time.
EVV Management located additional outside capital,
which paid down enough creditors to deter further
litigation.
The firm then accelerated design and regulatory
approvals of a compliant "hurricane shutter." By
getting this product to market before a major
competitor, the company was able to prosper.
Smoked Meat Company
A niche smoked meat (turkey) company
enjoyed a lucrative holiday business, but year
around operations consumed all the seasonal profits.
The company had a small annual revenue stream
from sales to local delis, yet these revenues were not
sufficient to let the company cash flow during the
other eight months of the year.
While the CEO was a stellar salesman, he was not a
good production or financial manager. EVV
Management brought a credit line and implemented a
disciplined operating plan.
EVV Management Created a sales strategy to expand
sales to hotels and grocers. The CEO quickly brought
in many new customers. Among these was a large
hotelier whose monthly purchases were over 4,000
pounds of commercial product.
A senior manager of a large retailer enjoyed some of
the product when visiting a hotel. He asked our CEO
to visit his headquarters in New York City striking a
deal to put the whole smoked turkey product in the
retailer's Holiday Sales Catalogue. This one account
increased holiday sales by over 25%.
Commercial sales passed breakeven levels and
holiday revenues were the highest in the company's
history. EVV Management exited this investment by
bringing in an individual investor with strong interest
in this market segment.
| Success Stories |
