A $50M revenue tier 1 supplier to the automotive industry had profitable new programs to launch, but was out of cash and not paying suppliers on time. Freight costs were skyrocketing and on-time delivery was beginning to plummet.
- Gathered input from the team, making them a part of the solution, and assessed the situation. Top priorities were developed and executed
- One business segment was divested to raise cash and allow
for focus on the main business
- Two unprofitable programs with customers were exited. Worked with customers to build parts banks, and move tools to a competitor
- Customer tooling reimbursements were pulled ahead
- Resources were focused on launch of new programs
- Key talent was retained
* Delivery performance improved beyond customer expectations
* Quarterly EBITDA rose from a loss of -$1.2M to a gain of +$2.2M
* The business was successfully sold by the Private Equity owner.