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David Johnson
Turnaround Specialist
David Johnson, founder and managing partner of Abraxas Group, has a 20-year track record of driving organizational change. David has served as interim executive or financial advisor to dozens of middle market companies in transition.
Throughout his career, David has demonstrated a commitment to thought leadership, with numerous speaking engagements and articles on the topics of change management, performance improvement, restructuring and turnaround to his credit.
SELECT INTERIM EXPERIENCE
Company Stage Focus: Private Equity Backed, Turnaround/Distressed, Private, Bankruptcy
Interim COO, Family Owned Manufacturer
Designed and executed business transformation plan for a 3rd generation family owned manufacturer facing operational and financial challenges.
Interim CFO, Private Equity Backed Company
Successfully led a private-equity backed company through an out-of-court restructuring and turnaround that resulted in a $6 million YoY increase in EBITDA.
Interim COO, 140-year-old Nonprofit Organization
Spearheaded the transformation of a 140-year-old nonprofit organization facing severe financial and operational challenges, resulting in a 6x YoY improvement in EBITDA, and the securing of turnaround financing.
Interim CFO, PE Backed Industrial Services Company
Led the successful turnaround and restructuring of a private equity backed industrial services company, resulting in a > $70MM increase in equity value.
Interim COO, 120-year Old NonProfit Organization
Led the successful turnaround of a 120-year old nonprofit organization, resulting in a return to profitability and a revamped management team.
Chief Restructuring Officer, $40M Industrial Recycling Company
Implemented weekly cash reporting and drove reorganization of accounting department. Spearheaded closure of three non-core plants resulted in a 16% improvement in operating income. Final restructuring plan forecast a 200% increase in enterprise value.
Chief Restructuring Officer, $20M Home Remodeling Company
Oversaw outreach to prospective capital providers, and negotiated with multiple prospective acquisition partners. Managed negotiation with trade creditors, and successfully negotiated multi-year payment on trade credit of over $2M.
Interim VP Finance, $150MM Marketing Services Company
Oversaw cash management and led the negotiation of settlements with trade creditors, successfully negotiating the settlement of $7.5 million in trade payables at a 32% recovery rate (resulting in savings of $5 million for client)
Financial Advisor, $20MM Toy Company
Laid out strategy for a restructuring, including the settlement of $3 million in payables to overseas suppliers at a discount and a distressed refinancing / sale process.
Financial Advisor, $350MM Staffing Company
Coordinated sell-side due diligence between investment banking team, interim management team and other advisors.
ACCOMPLISHMENTS
• Led Restructuring of a $40 million Industrial Recycling Company
• Oversaw distressed sale process of a $20 million Home Remodeling Company
• Financial advisor on the distressed sale process of a $350 million staffing company
• Financial advisor in the turnaround of an $85 million restaurant company
• Financial advisor in the restructuring of a $60 million stationery goods company
BOARD EXPERIENCE
• Childserv, $11MM nonprofit organization focused on serving children and families in the Chicagoland area
• Movere, boutique advisory firm focused on helping small and mid-sized companies achieve profitable growth
• Gateway Foundation, >$100MM nonprofit organization focused on providing alcohol and substance treatment
CREDENTIALS/EDUCATION
• Master of Business Administration (Accounting & Finance), University of Chicago Graduate School of Business
• BA of Arts, History, Fairleigh Dickinson University
Years Executive Experience: (20)
# Interim Roles: (6)
# Board Roles: (3)
Company Size: ($100k-$1B)
SPECIALTIES:
• Turnaround – Crisis Management
• Turnaround – Distress
• Corporate Finance
• Performance Improvement
• Restructuring
• Strategic Planning
• Transaction Support / Due Diligence
• Turnaround Management
• Expert Witness
• Litigation Support
• Planning/Modeling/Execution
• Systems Integration & Infrastructure
• Sales Forecasting
INDUSTRY EXPERIENCE
• Automotive
• Food and Beverage
• Restaurant
• Hotel / Timeshare
• Energy
• Business Services
• Consumer Products