October 2014 – Harvest CFO placed Terry Frandsen as the VP of Finance for Jadcore, Inc. a middle market company headquartered in Terre Haute, IN. Jadcore’s primary business activities consist of reprocessing industrial plastic resins, bag manufacturing, logistics and warehousing. Founded in 1974, Jadcore has a long-standing track record of success built on integrity and consistency in delivering value to its customers and suppliers. In March 2014, Stonehenge Partners became an investor in Jadcore. Based in Columbus, Ohio, Stonehenge Partners http://www.stonehengepartners.com/ directs the investment activities for approximately $700 million in mezzanine and equity commitments with a Midwest focus and a national scope.
The National Center for the Middle Market, a partnership with The Ohio State University Fisher College of Business and GE Capital, conducted the largest survey ever taken of Middle Market businesses and recently presented their findings. The Middle Market in the U.S. is defined as companies with annual revenues between $10 million and $1 billion. This segment consists of 195,000 businesses and represents 1/3 of private sector GDP and employs approximately 41 million people. This survey also identified characteristics of a segment of this market identified as “Growth Champions,” representing an elite group (9%) of Middle Market businesses growing at an impressive rate of at least four times the rate of U.S. GDP growth. This article focuses on the key characteristics identified by this survey as shared by this group.
Continue reading “The Characteristics of “Growth Champions””
May 2014 – Sunset Metal Works, Inc. (SMW) of Chambersburg, PA, a contract metal fabricator, provides precision parts for OEMs in the construction, agriculture, vertical transportation, aerial work platforms, oil & gas markets and the Department of Defense and other government contractors. SMW recently obtained financing for a major expansion that will provide state-of-the-art finishing facilities to supply painted parts to manufacturers.
March 2014 – Harvest CFO placed Robert (Bob) Tracy as the Controller of Auto Bolt, a manufacturer of cold-headed fasteners, specializing in the production of long-length and mid- to heavy-diameter bolts, pins and rivets for industrial use. Auto Bolt, founded in 1948 in Cleveland, OH is a leading provider of automotive fasteners and military fasteners to many industrial markets including agriculture, transportation, sports vehicles and material handling. The Controller position is a key management role newly-created to execute on the Company’s growth plans.
Auto Bolt President, Rob Kocian, approached Harvest CFO upon the recommendation of the Company’s banker. Auto Bolt needed a Controller with specific financial and operational skill sets in regard to ERP implementations as well as expertise in manufacturing costing. This position also required a financial leader with the ability to work closely with the President as well as Operations and Sales. Harvest CFO, along with the Auto Bolt management team, through the Harvest due diligence process, created the Company’s “blueprint for success” for the Auto Bolt Controller role.
January 2014 – Harvest CFO placed Michael Dignazio as the CFO for Crossett, Inc. (Crossett), a $30 million revenue transportation and logistics company with its corporate headquarters located in Warren, PA. Crossett services the transportation needs for the petroleum industry throughout the northeastern United States and eastern Canada – primarily in Pennsylvania, New York, Ohio, West Virginia and Ontario, Canada. CEO Alex Keddie approached Harvest CFO upon the recommendation of a Crossett consultant. Crossett needed a CFO with specific skill sets and attributes to work closely with the Company’s management team, board and operations to meet the Crossett unique requirements. Crossett, through the Harvest CFO due diligence process, created the Company’s “blueprint for success” for the Crossett CFO role. Using this “blueprint,” Harvest CFO proceeded through its candidate selection process, and after completion of due diligence, presented Michael Dignazio as the CFO candidate who was “spot on” and “spotless” for the Crossett CFO role.
Every business, regardless of its product or service offering, is, at its heart, a people business. It is imperative to have a great product or service offering. However, it is the people who make the company truly successful. Harvest CFO has as its criteria “spot on” and “spotless” for the CFOs/financial leaders we place with companies. We have created a due diligence process that starts with the foundation of creating with the decision makers the “blueprint” for success in their CFO/financial leadership role. This “blueprint” defines the required skills, functions and attributes that are needed for success in a specific role. Our due diligence includes utilizing behavioral assessment tools to evaluate and benchmark a candidate against the “blueprint” for success.
January 2014 – Harvest CFO placed Philip Ridolfi as the CFO for private equity owned NAS Recruitment Innovation (NAS) headquartered in Cleveland, OH. Private equity firm Stone-Goff Partners LLC, headquartered at Madison Avenue, New York City, the majority equity owner of NAS, is a private equity investment firm that acquires and builds companies in the lower middle market. Stone-Goff was referred to Harvest CFO by another private equity firm headquartered in Columbus, OH. Stone-Goff needed a CFO with prior successful private equity portfolio company experience as well as other specific needs that are unique to the life cycle of NAS. Harvest CFO guided Stone-Goff through the Harvest CFO due diligence process to properly frame and build the “blueprint” for success in the NAS CFO role. Using this “blueprint,” Harvest CFO proceeded through its selection process and after completion of due diligence on several Harvest CFO prospects, presented Philip Ridolfi as the CFO candidate who was “spot on” and “spotless” for the NAS CFO role. Laurens Goff, Founding Managing Director of Stone-Goff, states, “We engaged Harvest CFO based on a recommendation from another private equity firm. Harvest CFO did an excellent job of ascertaining our specific needs for the NAS CFO role. Harvest CFO provided us with well documented and reliable CFO candidate information and worked closely with us toward a successful placement. Phil Ridolfi brings the ideal skill sets we need in our CFO role to continue to execute our strategy. He has been a great addition to our management team. We are very pleased that we turned to Harvest CFO for the NAS CFO role and we certainly plan to utilize Harvest CFO for future CFO role needs for our portfolio companies. We would not hesitate to recommend Harvest CFO to private equity firms seeking skilled financial leadership for their portfolio companies.”
November 2013 – HTS Global, a Chicago-based IT consulting firm serving higher education organizations, has converted Harvest CFO Irv Williamson from fractional CFO to the company’s first permanent CFO. Harvest CFO efficiently performed due diligence in order to ascertain the requirements for success in the client’s CFO role. Based on this due diligence, Harvest CFO determined that Irv Williamson had the right skill set and experience to excel in the role and deliver on the tasks required of the client. Irv performed the CFO role as a Harvest Interim CFO for ten months and was converted to the company’s permanent CFO in September. Wayne Brown, Chief Operating Officer, states, “Our growth required that we take our financial systems to the next level. Harvest CFO did an excellent job of quickly ascertaining our needs for the CFO role and providing us a highly skilled CFO to meet our specific needs. Irv brought to the company the ideal skill set necessary in a CFO to allow us to continue to execute on our strategy. We are very pleased that we turned to Harvest CFO. I would not hesitate to recommend Harvest CFO to companies seeking skilled financial leadership.”
Harvest CFO, with headquarters in Cleveland, Ohio, is a premier provider of highly skilled CFOs to growth and middle market companies across the U.S. We offer CFO executive search for permanent CFO roles and outsourced CFOs who become integral to a company’s success in interim and fractional (part-time) CFO roles. Please visit our website at www.harvestcfo.com.
For more about Harvest CFO, contact Don Hillier, CEO at 216-650-3871 or email firstname.lastname@example.org.
September 2013 – Harvest CFO client Drake Manufacturing Services Co., with annual revenues of $40 million, headquartered in Warren, OH has converted Harvest CFO Andrew Rattray from interim CFO to the company’s permanent CFO. Within one week of the unexpected death of the Company’s CFO, Harvest CFO quickly performed its due diligence to ascertain the requirements for success in the Drake Manufacturing CFO role. Based on this due diligence, Harvest CFO determined that Andrew Rattray had the right skill sets and attributes to be an excellent fit for the Drake Manufacturing CFO role. Andrew performed the CFO role as a Harvest Interim CFO for four months and was converted to the Company’s permanent CFO in September. Jim Vosmik, President of Drake Manufacturing, states, “We are experiencing significant growth which requires solid financial leadership. Harvest CFO did an excellent job of quickly ascertaining our needs for the CFO role and providing us a highly skilled CFO to meet our specific needs. Andrew brings to Drake the ideal skill sets we need in our CFO role to continue to execute our strategy. We are very pleased that we turned to Harvest CFO for the Drake Manufacturing CFO role. I would not hesitate to recommend Harvest CFO to companies seeking skilled financial leadership.”
Harvest CFO, with headquarters in Cleveland, Ohio, is a premier provider of highly skilled CFOs to growth and middle market companies across the U.S. Harvest CFO provides candidates for permanent placement as well as CFOs who become integral to a company’s ongoing success in interim and fractional (part-time) CFO roles.
Business process management (BPM) has been referred to as a “holistic management” approach to aligning an organization’s business processes with the wants and needs of its customers, employees and suppliers. It promotes business effectiveness and efficiency while striving for innovation, flexibility, and integration with technology. BPM attempts to improve processes continuously. It can therefore be described as a “process optimization process”. It is argued that BPM enables organizations to become more efficient, more effective and more capable of change than a functionally focused, traditional hierarchical management approach.