Commercial Printing

by Leo Pound on January 29, 2013

Commercial PrintingWhat does a multi-generational, struggling, family-owned company do when they are faced with increasing losses and a declining credit facility?

The Challenge:
The quick answer is they call one of the most trusted change-management firms in the industry. One of Pound Consulting Inc.’s recent assignments is a Philadelphia-based national printing company. While not part of the original plan, Leo Pound has recently been retained as Chief Restructuring Officer.

  • Address significant borrowing base deficiency.
  • Deficiency in borrowing base due to material commodity price swing.
  • Management’s reluctance to grasp significance of commodity change and impact to pricing models.
  • Need for leadership change and management accountability.
  • High growth with limited liquidity.
  • Lack of coordinated plant schedule which resulted in excess labor costs.
  • Lack of preventative maintenance in plant which effects quality and throughput.

The Plan:
Leading this assignment, Leo Pound quickly formulated a strategy that would allow this company to remain family-owned with no dilution or change of control.

  • Streamline production, customer service and accounting departments.
  • Collect receivables and establish tighter company-wide payable terms.
  • Improve and lead communication among all parties involved, including the bank, suppliers and employees.
  • Update facility scheduling for maximum efficiency and profitability.

The Result:
Currently Pound Consulting Inc. has facilitated the following;

  • Renegotiated and extended the company’s credit facility resulting in over $5 million in debt forgiveness.
  • Secured new working capital lines.
  • Negotiated new reduced mortgage on the production facility.
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Leo Pound

As Pound Consulting Inc.’s founder and principal, Leo Pound is responsible for day-to-day operations, as well as building partnerships, maintaining relationships and providing value to all clients. Born and raised in Philadelphia, Leo has spent most of his career helping companies around the world.  He has worked with many multi-national companies – including ones based or operating in China, Australia, Canada, England, Germany, Japan and more. He has in- depth knowledge of operational and strategic planning, M&A, forecasting and budgeting and cost containment. Leo is a hands-on professional who is sensitive to the pressures and challenges facing a troubled or rapidly growing company and their management team.

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