Company needed to improve EBITDA performance to acceptable levels. Numbers deteriorated due to competitive marketplace dynamics. Needed board approval to move ahead with consolidation of plants in order to shed costs and achieve desired profitability.

Prepared board presentation consisting of EBITDA projections and cash flow for base case and proposed plant consolidation highlighting $1.9 million investment yielding $3.8 million improvement in EBITDA on a consolidated U.S. basis (representing a 63% EBITDA improvement Y-O-Y).

Board of directors unanimously approved the motion and tasked team to execute the plan as presented.

Company's core business was approaching the end of its product life cycle and capacity exceeded demand in the market. Needed to embark on an urgent path of developing new business and products; however, met with reluctance to redirection from CEO, who spent entire 15-year career in core business and opposed moving beyond his passion and comfort zone.

Leveraging relationship with company's private-equity owners and board of directors, expressed concerns regarding company's future and need for an energized new business development effort, and pleaded for their intervention. Board of directors agreed with assessment and made an organizational change, removing CEO and giving new management team the directive to bolster resources to NBD group and charge ahead.

NBD resurrected and four new business products accounting for $12.2 million in new sales initiated and launched in less than one year. In addition, several other new initiatives developed that generated an additional $2.5 million in revenue to yield a combined GM of 42.5%.

Company developed proprietary material key to future growth and company strategy. Yet, plant that produced this product was continually plagued with manufacturing and quality issues that threatened company and product's future.

Proposed plan that was later approved to reengineer process to improve quality and supply along with relocating to another plant with higher manufacturing and quality performance, and central location for shipping. Worked with manufacturing engineering group to develop improved manufacturing process.

New process produced 50% more product at lower costs, saved more than $1.2 million, and yielded a payback of less than one year.

Company replaced previous management team for business unit. Tasked with reengineering business operation to compensate for resultant loss of business. Without support from recently replaced management, efforts were hindered due to "outsider" standing as plant was in Australia as well as lack of personal credibility in new position.

Swiftly met with outgoing customer and developed schedule and timetable to meet their requirements for a smooth and orderly business transition. Concurrently, met with all cross-functional leaders of business unit and developed and implemented plan for consolidating operations, processes, and support services aimed at slashing costs to a level supported by go-forward sales.

Transfer of business went per customer's schedule with no interruptions of supply or quality. In less than one year, successfully transitioned 65% of company's business to its largest customer and rationalized the company's cost and overhead structure. Reported positive earnings for the following year and subsequent year-over-year EBITDA growth of 8%, 9% and 12% ROS respectively.

Company could not afford rising costs of European parts or the poor service and lead times associated with vendors located overseas. Nearly all of company's key mold and machine vendors based in Europe.

Expanded mold shop and machining capability by purchasing and leasing necessary equipment and hiring appropriate technical resources. Company became self-sufficient in making its own mold spares and molds along with replacement machine parts.

Reduced working capital investment in spares more than $530,000 and saved nearly $860,000 the first year by manufacturing its own spares and replacement parts. Gave company huge competitive advantage against its competitors and added value during a future, potential sale of company.

Company manufactured product under an IP licensing agreement. It could no longer afford royalty payments and the design was complex and difficult to manufacture, resulting in quality complaints from consumers. The company had no proven design alternative and sales group argued that customers would not accept an alternate design, negating ability to end the licensing agreement with competitor.

Conducted research by speaking to patent attorneys regarding ability to exit licensing agreement and speaking with customers regarding willingness to accept an alternate design. Based on positive feedback from both, commissioned design engineers to develop an alternate design that: 1) was easier to mold; 2) was faster to manufacture; 3) eliminated quality complaints from the customer and consumer; and 4) would not infringe upon competitor's design. Sold design to sales group, who ultimately sold it to customers, executive leadership team, and the board. Working with attorneys, comprised strategy to exit the licensing agreement.

New design saved $1.5 million annually from eliminating royalty fees and productivity gains. In addition, by virtue of the improved manufacturability of the new design, company generated an additional $2.5 million in incremental annual sales.

One of company's largest and most profitable plants, generating $42 million in sales, was threatened by company's largest $750 million customer due to unacceptable quality and service. Management and technology employed in this plant needed upgrading and needed flawless execution such that the customer did not experience any problems with turning around this plant.

Within 24 hours of assuming responsibility for this plant, flew to plant and spent two weeks assessing plant management, customer expectations and attitude, technology, procedures, and processes. Over the coming weeks, determined the following required actions: automatic 100% in-line inspection equipment to prevent critical defects from getting to customer while root cause/corrective actions were implemented; correction of problems with plant process cooling water which contributed to manufactured defects; assessment of capabilities of manufacturing equipment to specifications along with training of plant personnel; and upgrading key members of plant management staff.

Efforts protected $750 million client relationship, raising confidence in product quality. Plant ultimately captured control and became second most efficient and profitable plant in the business unit.

Defect emerged in new proprietary product threatening product's viability. Scrap, rework costs, and lost efficiencies rendered product unprofitable. In addition, customer threatened to revert to formal packaging, abandoning new product. Research engineers did not have a solution to prevent the defect. In addition, company needed to continue to produce in order to meet customer's production requirements.

Identified resources necessary to address the problem. Appointed technical task force consisting of representatives from R&D, vendors (both machinery and materials), Quality, Technical Service, and Operations. Dedicated team to finding a technical solution to the process, as well as to minimize and/or contain defect production in the short term.

In the short term, defects significantly minimized to customer, to the point they abated their threats to abandon the package, retaining a future $40 million customer. Ultimately, identified and implemented solution that eliminating the defect and aided plant to achieve manufacturing targets.

Private-equity owners desired to conduct an "operations turnaround." As part of initial assessment, discovered lack of talent in several major functional areas of the plant. As new hire, became concerned about reception of recommended changes to human resources by private-equity owners and the resulting costs associated with such changes.

Laid out assessment of the plant along with recommendations and expectations for personnel upgrades to Chief Restructuring Officer and gained his approval. Replaced several management team members, including production manager, technical manager, process engineer, warehouse and distribution manager, and plant controller. As a result of these changes, nearly every functional area of the plant improved.

Deadlines were met, quality of financial reporting and promptness improved, production efficiency improved from 60s to 80s, safety improved by OSHA recordable incidents from 36 to zero, EBITDA improved 120% and 55% the following two years respectively, engineering projects were completed on time and within budget, warehousing and distribution costs reduced 35%.

Asked to replace plant manager at company's flagship plant due to lagging plant performance. Told by superior and other high-ranking people that one major problem was necessity to replace production manager. To prevent same fate/mistakes as predecessor, strongly considered advice from superiors.

Assessed plant's performance and determined the underlying issues. One conclusion was that production manager did not need replacing. Instead, he needed clear direction and coaching. Modified method of managing this individual and came up with new way to motivate him that gave him the opportunity to grow into the role and provide long-term value to the company.

After two years, plant met its budget, representing 110% improvement in EBITDA performance from prior year. Ultimately, plant ascended to top as the most profitable, most efficient, and highest quality of all plants in the division. Production manager later promoted to plant manager.

Company faced competitive market pressure from both price and rapidly increasing raw material costs threatening EBITDA expectations. Excess capacity in market prevented increasing prices.

Rallied cross-functional group represented by Operations management, Procurement, HR, and Engineering, and then led group to find $2.8 million in cost savings. In addition, consulted with sales group to develop strategy for increasing prices as well as collaborating in crafting arguments to justify company's actions.

Group overachieved by identifying and achieving $3 million EBITDA. In addition, sales and marketing group successfully implemented all targeted price increases without losing any customer or market share.

Company faced with generating new revenues and maintaining profitability. Processes and assets were cost prohibitive to penetrate new customers and businesses.

Worked with sales group and established manufacturing costs to achieve target price points in order to win new business. Once targets established, worked with engineering and operations groups, in both Australia and the U.S. to reduce manufacturing costs. Accomplished this by reducing introductory capital costs via creative mold designs and realigning assets to utilize more efficient manufacturing equipment.

Achieved target price points, penetrating higher margin, more profitable markets. Sales in these markets grew 16%, 28%, and 40% respectively for each of the next three years.