Howard Feldenkris is a Finance Executive experienced in leading manufacturing companies....
HOWARD M. FELDENKRIS
Solon, OH, 44139 Home 440-498-9315 Cell 440-315-4401
[email protected] Finance Executive experienced in leading manufacturing companies. A trusted partner and team member that sets growth strategies and delivers measurable results including profit improvement, optimized cash flow, and improved employee communications. Successes in mergers and acquisitions. Highly interpersonal management style and developer of people.
Financial Reporting & Analysis New Business Development Acquisitions and Divestitures
Banking Relationship Management Mfg. Cost Analysis Cost Management / Controls
Strategic Planning Annual Operations Planning Working Capital Management
HARVEST CFO, Cleveland, Ohio
2014 to May 2015
An Executive Recruiting firm specializing in the placement of Financial Leadership roles. Contract Assignment - Vice President - Operations
Worked in all facets of business, including business development, data base implementation and management, operational activities including recruiting and working with both candidates and clients.
CLIFTON STEEL COMPANY, Cleveland, Ohio
2009 to 2014
A $30 MM Steel service center and fabricator of abrasion and wear resistant steel products. Chief Financial Officer Introduced strategic initiatives to increase sales in the Aggregates and Mining market segments, hiring new Commercial Sales Manager. Worked on sales team to increase sales by $1MM to our largest customer. Efforts resulted in year over year increase in Commercial markets of 15%. Reduced headcount and expenses, including closing two manufacturing facilities, in response to a declining military market revenue base. Total cost savings approximated $1.2MM per year. Developed plan to recapitalize the Company debt structure to buyout family shareholders, and provide liquidity event for company owner. Reduced inventory by 60% ($13MM) and developed strategies to identify and dispose of slow moving inventory on an ongoing basis. Led cross functional team in selection of new ERP system. HY-KO PRODUCTS COMPANY, Northfield, Ohio
2008 to 2009
A $40 MM manufacturer and reseller of consumer products sold to Big Box Retailers Interim Chief Financial Officer Led efforts to reduce costs at under-performing Mexican subsidiary ($500,000 loss to breakeven). Secured $2MM in additional bank financing to finance equipment expansion. Successfully directed company through its first financial statement audit. Developed consolidated financial reporting system. WHIRLAWAY CORPORATION, Wellington, OH 1994 to 2008 An $80 million manufacturer of precision-machined components / assemblies for highly engineered automotive and industrial OEM mechanical systems with 4 ISO-certified manufacturing plants and 600 associates. Chief Financial Officer (1999 to 2008) Member of senior management team with responsibility for Finance, Accounting, and Information Technology with a team of 10 associates. Driving force behind company moving up the value chain from a supplier of precision-machined components to a provider of increased value-added fluid control assembled and tested products.
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WHIRLAWAY CORPORATION (cont.):
Directed sale of Company to NN, Inc. in November 2006 for $46 million in cash. Prepared financial projections and delivered marketing presentation to acquiring company. Compiled and supervised all financial and legal due diligence and negotiated sale price.
Secured financing of $40 million by maintaining key relationships with banks, leasing companies.
Performed due diligence and conceptualized offers and negotiating strategy for potential acquisitions. Successfully completed acquisitions of two precision machine parts suppliers.
Partnered with Manufacturing to develop annual operating plan and used plan to set operations targets.
Established cost cutting initiatives through suppliers, process improvements, and headcount reductions.
Directed IT to support business objectives.
Passed all audits including bank, public company, and annual financial statement audits
Developed Company’s financial reporting, cash management, and planning / budgeting systems,
Implemented Company’s first marketing plan including market and industry research, website and brochure development, and hiring of sales representatives.
EVARTS CAPITAL, INC., Cleveland, OH 1993 to 1994 Private investment banking firm specializing in M&A and locating sources of growth capital / bank financing Senior Associate
Conducted searches for clients seeking to grow through acquisition; identified acquisition targets to facilitate acquisition by a leading Michigan rubber components manufacturer.
Sold two non-strategic divisions of a Fortune 500 company.
SUDBURY, INC., Cleveland, OH 1986 to 1993 Diversified manufacturer of industrial products Operation Manager for Planning & Analysis Operations Manager Led Corporate Financial Planning and Analysis function including collaboration with Senior Corporate executives and operating unit management to establish and attain profit, working capital, and capital spending performance objectives; reported directly to the President.
Generated $40 million by coordinating an asset sale program that included selling 14 subsidiaries within one year. Activities included authoring descriptive memorandum, working with investment bankers, attorneys, consultants, negotiating letters of intent and purchase agreements, and liquidation of two subsidiaries.
Developed annual planning process and integrated planning process to 25 previously autonomous business units.
Directed annual strategic planning / operating plan review sessions with subsidiary management.
KIRTLAND CAPITAL CORPORATION, Cleveland, OH A Private Equity Firm Treasurer and Controller
1983 to 1986
EDUCATION & PROFESSIONAL DEVELOPMENT BBA, Accounting, Cum Laude ♦ Kent State University Certified Public Accountant (Inactive) ♦ State of Ohio AWARDS, ASSOCIATIONS, & AFFILIATIONS President & Officer Positions, Association for Corporate Growth Cleveland Chapter Received “Distinguished Service Award” ACG International in recognition of “Deal Maker Awards” program President and Treasurer, National Board of Directors, Kent State University Alumni Association
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