Interim Corporate Management

Interim Corporate Management

Whitehall management services are available to client companies as a “turnkey” management team, or as additional management resources to assist client companies in building “additional value” in the corporation, to manage unique projects that do not fit normal modes of business, and to take advantage of special opportunities.

Whitehall management will custom design its services to fit the needs of our client companies, serving various positions such as general mangement, president, CEO, and/or board members.

Supplemental Management

General Management Whitehall management can be retained to supplement a client’s regular staff. Often times it is necessary to do a complete evaluation of marketing, manufacturing, human resources and financial status.

Whitehall management will conduct an independent evaluation. We then develop an improvement plan designed to build “additional value” into the corporation, and assist in the implementation and/or monitoring of this plan.

Areas of expertise include:

  • Logistics Management
  • Commercial
  • Financial
  • Project Management
  • Materials Management
  • Supply Chain Management
  • Engineering
  • Facilities
  • Launch Management

CASE STUDIES

Manufacturing Portfolio

5 co’s with revenues of $100 - $150 million Assessment, Interim Management, Sale

DESCRIPTION

  • Brought in by legal and accounting resources to run a portfolio of five companies after owners’ illness
  • One of the key entities had a multi-million dollar order without the first production unit built
APPROACH

    Operational Objectives

  • Engage in CEO, COO, and CFO roles across multiple entities in the portfolio
  • Assess all entities and determine plans for ongoing sales, quality, and product mix
  • Complete final product development for major order and launch required production
  • Financial Objectives

  • Stabilize portfolio and return to profitability
  • Identify key value drivers and understand long term value of the business
  • Implement metrics for cash management and cost reduction
RESULTS
  • Performed in interim management roles for 12 months, delivered profitable performance, and positioned entities for sale or liquidation
  • Successfully delivered on multi-million dollar production order that was significantly behind schedule
  • Increased value for three entities and completed successful sale to new owners

Tier 1 OEM Supplier of Truck Tonneaus and Miscellaneous Products

DESCRIPTION

  • Previous History: For five (5) years prior to restructuring, the company had consistently lost market share and money, and had no bank or audit relationships. They attempted to close the books in approximately two (2) months using an AS400 system, and internal communications were accomplished using Lotus Notes. Initially, Whitehall was hired to close the business and stop the losses, with Joe Bione being appointed as President / CEO by the owners.
  • Currently : After (2.5) years, the company is in a positive cash flow position with both a banking and an audit firm relationship. They have moved to a PLEX manufacturing and accounting system as well as state-of-the-art Microsoft systems. The company is achieving growth and profitability forecasts, and currently close the books in (1.5) days. Ownership now has a path to recover much of their investment / losses, and potential exit strategies are being developed.
APPROACH
    First priority was to stabilize and improve operational performance, so as to not lose any existing customers, and to provide a baseline for future customer growth.

     

  • Quality: Manufacturing consistently performs at 99%+ First Time Capability, and along with delivery, is recognized by all external customer metrics. TS certification has been maintained with only minors in the past two annual audits.
  • Delivery: On time delivery consistently performs at 100% for all customers. The company has recently been recognized by General Motors as a platinum supplier for on time delivery over the past (12) months and counting.
  • Metrics: Key Performance metrics have been institutionalized for over two years. A contemporary war room, displaying all business metrics was established, with KPI’s managed monthly by the entire staff. Metrics are linked to both corporate objectives and individual performance evaluations.
RESULTS
  • Our team is working diligently to not only improve financial performance, but to also make it a major player in the industry once again. We won our second ML100 Award for our part in this restructuring in 2016. In three short years, we have taken a struggling company doing $8 MM in sales and losing money to $40 million in profitable sales in 2016, and more than doubling that number by 2019. In addition to restructuring this company, we are going to market shortly and should recapture most of our owner’s investment.

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michigan
PENNSYLVANIA

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