CFO ( Chief Financial Officer )
4 days ago
Atlanta
I. Overview Pangborn ( , Atlanta-GA) is looking for a “metrics-driven, process and operating” CFO, who has deep industrial manufacturing experience. Pangborn is a privately held, US-based $50M revenue, 130 employee global leading manufacturer in shot blasting equipment and surface preparation solutions. Most of the 130 employees are engineers and work remotely across the US, Europe, and Latin America, while the executive management team and ~ 30 employees in Atlanta doing finance, procurement, sales, and customer service. The CFO will be an integral part of the management team, reporting to and partnering with the acting CEO, who is currently Board Advisor, and who is a former partner at private equity firm, Sun Capital. Their team is ~ 10 people in finance, accounting, and A/P and A/R. They have a very strong technical controller and cost-accounting person in place. The location for this individual to be based in metropolitan Atlanta, GA, with a hybrid office policy requirement of 3 days/week in office. The acting CEO, VP of Operations, Head of Engineering and VP of HR all spend 3-4 days/week in office. For the right candidate not already in Atlanta, they will cover relocation expenses. The profile they are looking for is one of a critical thinker and creative problem-solver, helping to build and guide the company’s future strategic direction while also supporting tactical initiatives. They must be solution-oriented and use both data and soft skills to communicate a path forward with conviction. They must be able to understand the organization’s operational characteristics, business drivers and culture as well as the moving parts of the organization and their interplay with respect to generation of cash flow. Strategically, the CFO must envision how to create and drive investment value for its private ownership group, and develop the roadmap formula for value creation which includes global growth, operational effectiveness and efficiency, cost management, and transaction opportunities. Financially, they should bring a depth of experience in most of the roles/accountabilities of a CFO. They are expected to articulate strategic and tactical ideas clearly, both orally and in writing, to listen accurately. They should possess the skills to establish personal rapport with people from all levels of the global organization, which is needed to understand business conditions and drive change and action. They must be thoughtful, humble, cool in a crisis and low ego, with a high EQ and a successful legacy of managing people and building teams. In a smaller, lower-middle-market business, they must be very hands-on and be able to dive back into certain levels of work that is required in this size business. This individual will be stepping into a role with an experienced executive leadership team and positive relationships with its external partners such as banks, auditors, legal counsel, and service providers. Working cross-functionally, this position will significantly impact the leadership team by providing transparent, timely and detailed kpi-based information; operational budgets; forward viewpoint forecasting; internal controls and policies; cash management; risk management of business objectives and protection of assets. In addition to their financial responsibilities, this position will oversee our information technology resources. They are expected to optimize business workflows, ensure infrastructure is supported, and ensure the consistent and efficient execution of IT systems that are critical to the delivery of our daily service. II. Mandate / Top 3 Challenges : 1. Develop Strategic Plan to Increase Enterprise Value: Develop with the acting CEO a credible strategic plan with product and G2M roadmap for 1,3,5 year vision, leading to a strategic exit;, 2. Increase Profitability Thru Margin Expansion by Driving key KPI Optimization: Putting disciplined controls, tracking and managing weekly, the key operating KPIs to make sure every function (and their leaders/teams) understand and optimizes the company’s formula for creating value. Targeting things like COG margins, pricing on sales proposals, warranties/returns, engineering hours, downtime, supply chain timing, and business process flows and their impact, etc.;, 3. Leverage and optimize the newly implemented ERP system (Epicore). Enroll the organization, in every function, and at every level to integrate and optimize the use of Epicore in data input, gathering, and decision making. Establish a culture of driving decisions thru the Epicore ERP system. If interested, please send resume to with a short email write-up on why you are a good fit - don’t just click LinkedIn’s easy, fast-apply. That is a black hole. III. About Pangborn, LLC: Pangborn is a privately held, US-based $50M revenue, 150 employee global leading manufacturer in shot blasting equipment and surface preparation solutions. As a 121 year old industrial equipment company, they drive value through engineering and less-so on capital-intensive manufacturing. They design, manufacture, and supply: 1. Shot blasting machinery, including wheel blast, air blast, and specialty blast systems;, 2. Shot peening systems for precise metal finishing needs;, 3. Auxiliary components such as blast wheels, dust collectors, abrasive separators, loaders/unloaders, and shot removal systems;, 4. Support services, including parts, modernization, upgrades, installation, maintenance, and operator training. Their equipment has price points of around $750K-$3.5M per unit, and is used across a range of industries—automotive, aerospace, defense, agriculture, energy, foundry, rail, marine, and more. They do very little manufacturing in the USA and are like an outsourced manufacturing company – they supply chain and source all the parts from multiple places around the world, then assemble equipment at different fabricators in US and Mexico, and then ship to sites where engineers install the final solutions. There are three major players in this shot blast industry, and Pangborn is the oldest, well-known traditional brand, with one long-term competitor which is a division of a large Japanese conglomerate, and one new upstart and nimble, but smaller new market entrant. IV. Qualifications - Ideal Profile: · CFO leadership experience – finance leader with 15+ years’ experience leading teams of 7+ people · Deep industrial manufacturing experience required · At least one mid-size company experience of between $40M - $200M in revenue · Private equity-backed company or family business experience, a plus · International experience, a plus · Experience managing the IT function and ERP IT systems, a plus – especially optimizing their use for metrics-driven business decisions · Metrics-driven, process and operating experience as finance leader · Entrepreneurial spirit and mind-set – willing to “roll up his/her sleeves” · Strategic mind set with experience optimizing key KPI’s in a manufacturing process · Advanced Education: CPA or MBA required, both preferred · Undergraduate Education: Under-graduate degree in finance, accounting V. General Responsibilities: Financial Management Duties: · Serve as a trusted strategic financial advisor to the Owner/CEO and exeutive leadership team. · Oversee daily finance and accounting functions including the preparation of monthly, quarterly/annual financial reports, global consolidation, and GAAP-compliance. · Participate in the strategic and operating planning process and own the ensuing budgeting process. Prepare annual revenue projections and expense budgets and analysis, updating monthly. · Manage the Company’s treasury, capital structure and risk management programs. Maintain relationships with banks (inclusive of compliance), bond brokers, and surety companies, and ensure that they are providing cost effective solutions which meet the Company’s needs. Maintain relationship with insurance brokers and ensure that programs balance cost and risk. · Plan, organize, and direct fiscal and management control functions, cash management (collections, payables, deposits), and business licensing. · Manage auditors. Interface with Management on audit findings, compliance, internal controls, and accounting issues. · Manage all regulatory and reporting requirements, including financial statement audit, income tax return preparation, and compliance with tax filings and collection. · Manage external tax team to ensure all taxes are properly prepared, audited, and ad hoc projects to limit tax liabilities and ensure accuracy of reporting. · Develop, track and report KPIs. IT Management Duties: · Maintain effectiveness and efficiency by defining, delivering, and supporting strategic plans for implementing information technologies. · Within the recently implemented Epicor ERP (US), Infor ERP (Europe), and Kinetics Financial Package, develop strategies to utilize these tools to fit the company’s short- and long-range requirements for planning and operating the business. Strategic Business Partner and Leader: · Independently analyze data to challenge assumptions, identify trends, benchmarks, and paths to improvement in the company’s financial and operational performance, and aid decision-making. · Participate in the M&A process including financial and legal due diligence, negotiation, and post-acquisition integration. Participate in the evaluation of potential acquisition targets, growth capital infusion or other JVs/Partnerships in the context of corporate growth objectives – including financial synergies, expanded market potential, and operational impact. If interested, please send resume to .