Situation A mid –sized iron foundry in the Upper Midwest had been losing money for 3 years in a row and had defaulted under their credit agreement. The Company was operating under a forbearance agreement with the Bank and the Bank had lost confidence in management. The Bank insisted that the Company hire turnaround [...]
Situation Owners of two, Day Schools/Day Care Centers (infants through Kindergarten) wanted to exit their business post Covid-19. The owners had recently relocated to another state and were struggling to manage day-to-day business activities (primarily addressing staffing issues) remotely. Additionally, the business had been severely impacted by the Covid-19 pandemic, and was rebounding, but [...]
A Foundry Industry Article From "Modern Casting"Part Of A Series Called “For The CEO”Click Here for an Acrobat version Of the original article In the January 2022 edition of Modern Casting, the foundry industry outlook was provided. While in 2020 we saw a decrease in revenue of 17% largely due to the COVID-19 pandemic, [...]
You have spent your entire professional life owning and leading your family business. You are the founder or next-generation family member running the business and you are now approaching retirement age. To retire you will need to transfer your leadership responsibilities to a next generation family member and potentially some, or all, of your [...]
“So, what are you going to ship this month?” “Um, I don't know. Probably what we shipped last month.” “Was last month a good shipping month for you?” “I guess so.” This unfortunately is a typical exchange when speaking to owners or executives of many small to mid-sized companies who do not know their numbers! [...]
Most would probably agree the first two months of 2020 were economically strong. But then as the country began to address the COVID-19 pandemic in March, state-mandated shutdowns across the country severely impacted many industries including most, if not all, foundries. Nonessential businesses were forced to close, and the unemployment rate went from 3.5%, a [...]
Let's face it. Foundries are driven by strong margins. Are your margins acceptable? Or are your margins and return on sales (net income as a percentage of net sales) lower than you would like them to be? Or have you experienced a negative return due to net losses recently? In these cases, you most likely [...]
Turning Point Management Advisors, LLC (Turning Point"), a leading consulting firm providing business recovery solutions, interim executive management and business brokerage services, is pleased to announce their client, Ramco Innovations, Inc. (Ramco"), Des Moines, IA, has sold Humboldt Controls and Fabricating LLC (HCF"), Humboldt, IA, a division of Ramco, to Voyager Aluminum (Voyager"), Brandon, MN effective April 30, 2011.
The Minnesota Chapter of the Turnaround Management Association congratulates Turning Point Management Advisors LLC, winner of the Chapter's 2014 Transaction of the Year Award for its work with Mansfield Brass & Aluminum Corporation of New Washington, Ohio. The Transaction of the Year Award recognizes excellence and extraordinary achievement by turnaround and insolvency professionals working [...]
Situation A family-owned, 95 year-old, wholesale distribution business that provided the highest quality brand name supplies and equipment to institutional and industrial launderers and dry cleaners in the upper Midwest had experienced three years of declining revenues along with operating losses. The downward trend in financial results had caused the Company's lender for over 20 years, to become [...]
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