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- Our Team
- Arun Vedhanayagam – Information Technology & ERP Systems
- Barbara Cornett, MIM, BSC
- Brian Shiau, MBA, CFA
- Bruce O. Blagg – Information Technology, Supply Chain
- Carroll D. Warner
- Charles A. Johns – MBA
- Don Gunther
- Edmund Scordato, CPA
- Faith Washington, RPh, BSPharm, Pharmacist, CSCS, CPT – Personal, Entrepreneur, & Executive Coaching
- Fred N. Davis III
- George Cassiere, MBA, ASA, CFA – ESOP’s and Valuations
- Hilary Hemm
- James R. Malone
- Jeffery P. Swoyer, MS HRD – LEAN, Emotional Intelligence, Organizational Development
- John A. Pryor
- John R. Hamill, MS
- Jon Verbeck, CPA
- Mr. Jonathan Trimble, Senior Director, Technology and Cybersecurity
- Hon. Col. Karl D. Reed, MBA
- Kenneth M. Russell, MBA
- Lane Morlock – General Management Executive
- Lindsay White
- Lissa Weissman
- Mark Gauthier, MBA
- Maz Akram, MBA
- Paul Fioravanti MBA, MPA, CTP – CEO & Managing Partner
- Paul Keipper, MBA
- Paul Slater
- Peter C. Meinig
- Peter Cotton – Sales, Sales Management Recruitment, Building Sales Teams
- Rhonda Hollady – HR, Labor Relations, EHS Training & Compliance
- Richard Reighard, CPA
- Scott E. Kingdom
- Stephen E. Markert Jr.
- Tom Davidson
- Tom Pesaturo – LEAN, Manufacturing Optimization; Six Sigma Black Belt
- Tricia Garthoeffner, ABV, CVA, MAFF, EA, MAcc – Valuations
- Vincent L. Persiani, CPA, CGMA, CCIFP
- Dr. William F. Coyro, Jr., DDS
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Furniture Manufacturer
Client Overview: A leading upholstered furniture manufacturer. The Company was sold to key distributors, primarily in the midwest and eastern United States.
Opportunities:
- Family owned business sold to an equity sponsor in 2002
- Continued degradation of revenues and EBITDA over a four-year period. EBITDA worsened by $10M over a 30 month period
- New management team brought in in 2005 contributed to a worsening financial and profitability situation
Solutions:
- Qorval was initially engaged to address improvement areas and process issues. Within one month, the Board appointed Qorval as President and acting CEO
- Close underperforming factory and make critical cost cuts quickly
- Address quality problems and implement a quality focus within the factories
- Work with Sales to open new accounts and strengthen existing accounts
- Secure new financing (sponsors were not willing to provide a 45-day bridge loan to close)
Results:
- First quarter EBITDA of $1M after many straight quarters of continued losses
- Focus on quality began to change customer perceptions as “problem quality company”
- Secured new financing if ownership had chosen to continue the company in business
- Engaged and led an orderly liquidation outside of bankruptcy resulting in bank repayment at approximately 85% of debt
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