Michael Reifsteck

  • Rushville US-NY
Michael Reifsteck

PROFESSIONAL PROFILE

Experienced “hands-on” Financial Executive with extensive knowledge of:

·Accounting policies and procedures

·Inventory management

·Cost accounting

·Treasury functions

·Budgeting and forecasting

·Due diligence, acquisitions and subsequent integrations

·Multi – location operations

·International operations experience in Mexico and China

·Taxes

·Board presentations

·Human resources

·Information systems including ERP implementations

·Focused goal-oriented work ethic. The “go-to” person for results

·Experience with “Big 4” public accounting firm and private equity owned companies.

 

Work History

Work History
Apr 2012 - Present

CFO

Edelbrock

Managed the financial, human resource, and information technology activities for this multi-location private equity owned preeminent brand name manufacturer of after-market high performance automotive parts with sales of $120 million. Responsible for evaluation of acquisition targets, month end closing, coordination of year end audit with external auditors, development of annual budgets and monthly forecasts, and consolidation and presentation of results. Managed a staff of 15 with 3 direct reports

Jan 2011 - Apr 2012

Corporate Controller

Chobani

For this premier food company managingall accounting activities for thisrapidly growing Greek yogurtmanufacturer with 2011 sales of $660 million up from 2010 revenues of $260 million.

·Created budgeting and forecasting process which did not previously exist.

·Instituted monthly closing process, closing books in 5 days from previous 20 days.

·Developed monthly reporting package for new domestic and international entities.

·Directed installation of Microsoft AX ERP system and used it to develop new consolidation package.

·Created proper controls, procedures and processes to ensure safeguarding of corporate assets.

·Built staff to handle the increased activity and plan for future growth. Increased staff by 15 people.

Apr 2009 - Jan 2011

self-employed

Michael Reifsteck, CPA

Fractional CFO and tax return preparation and planning.

Jul 2001 - Apr 2009

Chief Financial Officer

NATIONWIDE PRECISION PRODUCTS

CFO

Directed financial, human resource, and information technology activities for a $200 million multi-location contract manufacturer of precision machined components. Also responsible for evaluation of acquisition targets, month end closing, coordination of year end audit with external auditors, development of annual budgets and monthly forecasts, and consolidation and presentation of divisional results. Managed a staff with 5 direct reports, including 3 controllers, and total staff of 20 people. Customers included Harris Corporation, Xerox, Kodak, United Technologies, Bosch, GE, Dana, Caterpillar and Eaton. Products manufactured for these customers included radio chassis frames, digital radiography and printer components, locomotive and propulsion components, axle and transmission components, air conditioning crankcases, fuel pumps, and engine blocks and manifolds.

Significant activities included:

·Closed down non-profitable operation and merged operations with another non-profitable operation. Individual operations were losing $6 million on an annual basis. Merged operation became profitable as a result of cost cutting and more efficient operation.

·Set-up a greenfield operation in Shanghai, China. Company was incorporated as a wholly foreign owned enterprise with encouraged status saving over $1,000,000 in import duties on machines imported into China. Operation was manufacturing parts 12 months after initial start-up.

·Directed several implementations of new ERP systems at several locations.

·Performed due diligence for company acquired by corporate parent.

·Refined and improved monthly corporate reporting package.

 
Nov 1997 - Jun 2001

Chief Financial Officer

HORIZON AEROSPACE, LLC

CFO

Directed financial, human resource, and information technology activities for a $30 million manufacturer of precision aircraft instrumentation. Establishment and management of a treasury function, evaluation of acquisition targets, development of annual budgets and monthly forecasts, coordination of annual audit with external auditors, and consolidation and presentation of divisional results. Horizon was spun out of Flightline after it was purchased by a British company. In addition to the standby mechanical instruments previously produced, Horizon developed a line of engine instruments including a flat panel display similar to that found in the cockpit of larger aircraft. Horizon also acquired Transicoil, located in Philadelphia. Transicoil produced rotating electromechanical components, brushless DC motors, precision motion controllers, instrumentation and transducers. In 1999, Horizon acquired a line of electro-mechanical instruments used in commercial aviation. Reports included 2 divisional controllers and total staff of 10.

Significant activities included:

·Negotiated banking relationships with several financial institutions to arrive at the most favorable arrangement for the company. Saved the company $50,000 in interest.

·Created reporting package for newly acquired companies to provide needed information on company results for corporate officers.

·Evaluated alternatives to current 401k plan. Elected to remain with current plan provider with improved costs and increased choices for plan members.

·Performed due diligence and negotiated purchase of a line of electro-mechanical instruments from a Connecticut based company. Supervised shut down of Connecticut operation and integration of acquired product lines into Victor, NY operation

Aug 1993 - Oct 1997

FLIGHTLINE ELECTRONICS, INC.

Flightline made sonabuoy receivers for anti-submarine warfare, gyroscopes for fixed and rotary wing applications and standby mechanical airspeed indicators and altimeters for commercial single engine aircraft. Flightline was purchased by a British company in October 1997 with the commercial aviation operation being spun off into Horizon Aerospace.

CFO (1996-1997)

Managed all accounting activities for a defense/commercial aviation manufacturing company with annual sales of $15 million, including presentations to the Board of Directors, communications with venture capitalists and banks, negotiation with government agencies for annual allowable overhead rates, development of budgets, coordination of annual audit with external auditors, cash management, calculation of income using percentage of completion, income taxes, administration of 401k plan. Led a staff of 9 direct reports.

Controller (1995-1996)

Responsible for all activities related to monthly closing and issuing of financial statements as well as all IT activities.Upgrade of ERP program, selection of PC’s and operating software to upgrade Company’s computer environment.

Cost Accounting Manager (1993-1995)

Responsibilities included development and submission of overhead rates to DCAA for audit and approval and calculation of revenue and inventory balances using percentage of completion principles.Additionally calculation of pricing for bid proposals, monitoring of product manufacturing costs and reporting to the VP of Operations of any unusual costs/trends.

Significant activities included:

·Negotiated sale of company to new owners with split off of former subsidiary, which became Horizon Aerospace, LLC, resulting in substantial profit to shareholders.

·Negotiated forbearance agreement with venture capitalists and bank to give management time to obtain new financing or sale of company.

·Streamlined monthly closing process to enable books to be closed in four working days.

1987 - 1993

Supervising Senior Accountant

KPMG PEAT MARWICK

Progressive positions within a public accounting firm, reaching Supervising Senior Accountant level. Clients included Xerox, Genesee Brewery, Corning Natural Gas, Strong Memorial Hospital and Park Ridge Hospital

Education

Education

B.S. in Accounting

ST. JOHN FISHER COLLEGE

Skills

Skills

ERP Implementations

Epicor-Vantage and Microsoft Dynamics AX.

Certifications

Certifications

CPA

NYSSCPA