This family business, now in its second generation, had historically enjoyed solid profitability and low financial leverage. Recognizing the pressures facing the stamping industry and the risks of an 80% sales concentration to one customer in the appliance business, the President made a number of bold acquisitions in order to diversify. Unfortunately, a family crisis took the President away from the day to day management of the business and his management team proved to be incapable of integrating the acquisitions or managing the business without him. Within one week of returning to the business full time, the President recognized the situation was dire and hired Promontory Point Partners. Within our first week, we terminated the COO, CFO and approximately one-third of the remaining workforce. While dramatic, these steps were critical to avoid a disastrous cash shortage and looming liquidation. Mike Barto stepped in as interim COO to run the company and we quickly began work on a plan to increase the company’s viability. Within four months we had closed down or sold off the acquisitions, retired 60% of the company’s debt, recruited a permanent COO and returned the company to profitability. Today, the company is consistently profitable, better diversified and has a strong balance sheet. Timely and difficult decisions were key on this engagement and the company is now poised for long-term success!