Meet Andy

Andy began his career with PwC and served both public and private companies in a variety of roles including:

• Audit 

• Buy-side transaction due diligence

• Sell-side transaction preparation

• Business process and control development and improvement

 

Andy has been the CFO of several companies:

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Business to Business eCommerce Startup

• Angel, Seed and Venture Financing

• Implementation of enterprise-wide accounting system

• Re-structured company to assist founders / owners in facilitating the sale of technology to angel investors in exchange for settlement of debt financing and resulting in the original owners retaining control of their original consulting business 

 

Publicly traded human resource consulting and payroll processing company

Company was financially distressed and had a history of late SEC filings prior to Andy’s joining – was originally hired as Chief Accounting Officer to address these issues. After Andy identified mismanagement of resources including cash by the existing CFO, the Board promoted Andy to CFO and he became a management board representative.

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• Financial reporting  (10-K’s, 10-Q’s, other periodic reporting requirements)

• Accounting, finance and treasury responsibilities

• Negotiated a forbearance agreement with lenders

• Developed and maintained 13-week cash flow models

 

Private equity owned consulting and retirement plan administration company

Company operating 17 offices across the United States. Each office was treated as a “stand-alone” entity resulting in inefficient delivery of services as well as inefficiencies regarding operations and accounting and finance functions.

• Accounting, finance, treasury and budgetary functions

• Planned and led operational restructuring to convert operational and accounting from geographic focus to a functional focus

  • Efficiencies in delivery of services

  • Leverage of sales team across regions rather than focus on an individual geography

  • Consolidation offices resulting in significant cost savings

  • “Flattening” of operational management structure resulting in significant cost savings

• Negotiated, structured and performed due diligence related to a strategic acquisition that provide resources to lower cost of delivery of services and increase profitability

• PE firm ultimately exited in a successful strategic sale

 

Private equity owned casual dining restaurant chain

Company operated approximately 45 restaurants primarily across the southeast United States; approximately 1/3 company-owned and 2/3 franchised; restaurants offered sports bar and live entertainment

• Accounting, finance, treasury and budgetary functions

• Interim CEO during PE Search for new CEO

• Thinly capitalized company – prepared daily cash flow plan to optimize leverage

• Selected and implemented change in payroll service provided including app-based store planning

• Implemented enhanced treasury functions with banks

• Implemented store level controls and analysis to focus on operational efficiencies and profitability to enhance cash flow

 

Andy recently spent 5 ½ years with Grant Thornton Advisory where he led large engagements advising companies regarding capital market transactions, complex accounting and financial reporting issues, mergers and acquisitions and turnaround and restructuring plans / transactions.

 

During this time he advised on several successful IPO’s through both traditional IPO process as well as SPAC merger transactions. Services included:

 

• Guiding private companies through the financial statement uplift necessary to convert private company financial statements to SEC compliant statements

• Preparation of pro forma financial statements for both:

  • SPAC Transactions including determination of the accounting acquiror

  • Financing transaction both debt and equity

• Assistance and guidance regarding companies Management Discussion and Analysis

 

In addition to traditional capital market transactions described above, Andy managed teams performing operational due diligence and synergy analysis in connection with mergers and acquisitions. These services included not only due diligence but development of “M&A Playbooks” for clients to help them streamline future M&A activities.

 

During his tenure at Grant Thornton, Andy managed several restructuring and turnaround engagements, including providing consulting services in connection with Chapter 11 bankruptcy proceedings. Andy was a subject matter expert supporting private equity entity with the acquisition of the debtor in a restaurant bankruptcy case.

 

Andy also advised a public company in the heating and cooling distribution business through an out of court debt restructuring, including preparing 13-week cash flow models and related weekly reporting to lenders.

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Industry Experience

 

During his over 35 years, Andy has acquired expertise in many different industries including, amongst others:

• Restaurants

• Retail

• Real Estate

• Business Services

• Manufacturing and distribution

• Information Technology

• Private Equity / Venture Capital