The Company’s real troubles started in 2014, when the foundry industry began a sharp decline from weakness in the mining, agriculture, oil, and gas industries – a decline that would last for years. With sales dropping and costs rising. By May of 2016 The Company had defaulted on its bank agreements due to a significant decline in its financial condition.
Prior to the economic downturn in 2008, the Company historically shipped between $8-$10MM annually in aluminum cast products and after-cast services. From 2009 through early 2012, the Company experienced declining revenue and losses as it tried to recover from the broad financial impacts of the economic downturn.
A Family investment firm in the greater Midwest area invested in two trailer manufacturing companies and merged them together. The merged company had significant losses and made no profit after two years. Cash burn was significantly reduced and funded by internal line of credit after its Bank was unwilling to continue funding the business.
You get the direct and personal attention of Bob Silhacek and Mike Wise, the two founding partners of Turning Point Management Advisors (TPMA). Proven, Skilled Executives – Bob and Mike are proven executives with leadership, financial and operational management skills gained in both successful and difficult environments. Combined, they have over 50 years of experience in “C” level roles with small to mid-sized companies.
We get up every day with the goal to help companies get back on track. We restore financial and operational success to organizations. We restore lost value, enhance current value, and create opportunities for future growth.
In the last fourteen years, TPMA has won the Turnaround of the Year (2012), Transaction of the Year (2014) and Turnaround of the Year (2019) from the Turnaround Management Association, Upper Midwest Chapter (TMA). Many professionals (bankers, accountants. attorneys, etc.) are consistently recommending TPMA to their clients for their quality and successful work.
TPMA will do a thorough review of your client’s business before an engagement proposal is drafted. TPMA schedules a visit to the business for a full tour of facilities/offices. After the tour TPMA conducts a question and answer session with the owners/executive leaders to fully understand the business situation and what must be accomplished to return the organization to strong financial/operational health. Many clients have selected TPMA due to the thoroughness of the initial meeting review and the probing questions asked. The client gets the immediate sense we understand their business.
TPMA engagement proposals are very extensive including a detailed situation analysis identifying the issues to be resolved, a detailed schedule of deliverables and delivery dates/time expectations. The client always knows what they are getting before we start the project.