Company Information: Incorporated in 2000, PE aquisition, $4.9 million annual revenue
Industry: Oil & Gas Production, Field Services, Custom Trailer Manufacturing
Project Scope: Retained by board of directors and private equity group to overcome 5 years of stagnant growth, develop & scale financial and operational structures, and implement plans for long term growth and exit strategy.
Teams: Operations, Sales & Marketing, Finance & Accounting, External Accounting/ CPA, Customer Service & Administration, Human Resources (HR), Information Technology (IT), Transportation/ Logistics/ Rigging, Manufacturing
Revenue Growth
- Achieved 42.8% annual revenue growth and a 19.7% EBIDTA increase, overcoming a 10% reduction in market size, increasing market saturation, and competing technologies
Financial Performance/ GAAP Restructure
- Reduced long-term debt by 22% within 9 months.
- Cut aging receivables by 74% within 90 days.
- Restored profitability to 5 business units by implementing GAAP financials, regional P&Ls, budgets, and job costing.
- Created internal accounting team, processes, and procedures; eliminating outsourced CPA and accounting services.
Safety & Compliance
- Implemented industry leading safety standards, achieving 16% ROI within 12 months
Risk Management
- Developed strategy to overcome projected market cycle changes and drop in oil prices through debt reduction, targeted acquisitions, and exit strategy