Protein & Grain Producer
Roles
Financial Advisor
CONTACT US
Do you have any further questions? How can we help you? Get in touch with us.
John R. Gordon Jr.
Partner, Partners
John Gordon has more than 25 years of diverse business experience demonstrating an ability to bring deep financial and analytic skills along with a passion for operational improvement to difficult situations.
Sugi Hadiwijaya
Partner, Partners
Sugi Hadiwijaya has more than 15 years of combined experience in financial services and turnaround management, assisting companies with tasks such as cash management, securing of financing, business plan assessment, M&A activities, and financial modeling in multiple industries.
Mike Juniper
Partner, Partners
Mike Juniper has 20 years of experience in financial and operational analysis and improvement, turnaround and restructuring consulting, and interim management. He has served as an advisor to numerous companies through Chapter 11 proceedings.
Holly Ollier
COO & Senior Director, Other Professionals
Holly Ollier has a 30 plus year proven track record delivering revenue growth and profit improvement for employers and clients.
-
Identified business and profit improvements
-
Worked with executive team to implement process improvements
-
CR3 transitioned implementation work to company
The company is one of the largest integrated protein and grain producers in North America with operations in 12 locations. The company was struggling with financial underperformance relative to its peers due to lower protein prices and higher operating costs. A CR3 Partners team was hired to assess and implement cost reduction initiatives, mine the company’s data to identify revenue and gross margin improvement opportunities and refocus management on business investment with a higher probability of payback and return of investment. CR3 identified improvements valued at $145MM to $245MM of increased annual profit and worked with executive team to implement process improvements that increased profitability by $40MM per year.
The Situation
- Company was historically profitable, but performed below average relative to its industry peers for more than a decade
- EBITDA approached breakeven relative to debt service and capital requirements due to lower market prices for protein and higher operating costs than its peers
- Company made large marketing investments in its brand to differentiate itself through initiatives such as animal welfare and sustainability
- Company sought advisors to assess and assist in implementation of operational improvements, with an internal goal of increasing profitability by $75MM annually
The Work
- Worked with executive management team to assess improvement initiatives in revenue and reductions in costs and expenses
- Implemented CR3’s Projects in Process gating system to prioritize, evaluate resources, reduce cycle time, and improve outcomes of over 600 active projects company was undertaking prior to CR3’s assessment
- Provided process and project management to complete a reduction in force and other expense reductions in a four-week period versus company’s previous planned two-year implementation
- Mined and analyzed internal big data to make recommendations for increasing revenue and gross margin
- Provided customer, product, and market profitability insights along with detailed process improvement actions and project management support
- Recommended opportunities for improving direct-to-customer shipments, warehousing strategies, and logistics
- Provided analysis and recommendations to refocus management on business investment with a higher probability of payback and return of investment
The Results
- Operational assessment resulted in identifying business improvements valued at $145MM to $245MM of increased profits per year
- Worked with executive team to implement process improvements that increased profitability by $40MM per year
- Projects valued at an additional $14MM of profitability improvement were in process as CR3 transitioned further improvement implementation work to company
Explore Insights
View All
Article
When Companies Need a Change Agent
There's a difference between steady state management and change agents. A great steady state management team can execute an operating plan every day with precision. Deviations from a defined process can create conflict in an organization that is dedicated to staying the course.
Article
Navigating a First-Of-Its-Kind Bankruptcy Case
On September 15, 2021, a grain elevator operator and processor of soybeans submitted an out-of-compliance borrowing base certificate to its secured lender. What followed was a novel bankruptcy case marked by massive complexity and a near-impossible positive outcome.
External Link
Value Creation Based on Two Factors: EBITDA/Cash Flow and Capital Structure
Dallas-based Partner Sugi Hadiwijaya and Vin Batra discuss the value creation for private companies in respect to two factors: EBITDA/cash flow and capital structure.
News
CR3 Partners Adds a Senior Associate to New York Office and to Speak at ABI VALCON
CR3 Partners is proud to announce that Michael Sicari has joined the firm as a Senior Associate in the New York office. Dallas-based Partner, Mike Juniper will appear as a panelist in "Out-of-Home Entertainment: Ready for TakeOff, or Ready to Disappoint?" on May 6 at ABI's Virtual VALCON experience.
Article
Four Paths to Increase Revenue in a Turnaround
When restructuring advisors are engaged to stabilize their clients' operations, they often focus on cutting expenses and controlling disbursements.
News
CR3 Partners Adds Manager and Two Senior Associates
CR3 Partners is proud to announce its new Manager, Mark Kennedy, and its new Senior Associate, Lee Hiles, in the Atlanta office. We also made a recent addition to its new Richmond office with Senior Associate, Katie Usera.
News
CR3 Partners Expands Los Angeles and Houston Offices
CR3 Partners is proud to announce the expansion of its rapidly growing Los Angeles office by adding two Senior Associates, Alex Pettee and Ashtynn Baltimore. Along with the additions to the Los Angeles office, CR3 Partners would also like to announce its new Director, Avery Alcorn out of the Houston office.
News
New Partners and Continued Growth of CR3 Partners
The CR3 Partners Board of Managers is pleased to announce that Jeff Armstrong and Dawn Ragan have been admitted to the firm's partnership.
External Link
CR3 Partners Advises NEOPS Alongside SSG Capital on Sale of Debt
SSG Capital Advisors, LLC (SSG) acted as the investment banker to New England Orthotic & Prosthetic Systems, LLC and its affiliates in the sale of all of its outstanding senior debt to AHM Healthcare Strategies (AHM), an affiliate of Eschen Prosthetic and Orthotic Laboratories, Inc. (Eschen).
News
Industry Veterans Combine to Launch National Turnaround and Performance Improvement Firm
The leadership of CR3 Partners, LLC, today revealed the details of their newly-formed national turnaround and performance improvement firm.