Henry Cromeek Denver, CO CFO 33 Years of Experience Direct Contact: hcromeek@ 303-588-9310

 

Henry Cromeek, CPA, has been with B2B CFO^® and has multiple clients serving emerging and mid-market owners. Henry works with business owners who need to increase cash, profits, sales, and company value. Henry’s point of distinction is that prior to B2B CFO^®, he was a full time CFO for 5 mid-size companies in multiple industries serving as a chief financial and operations officer. Henry’s early career consisted of 15 years with KPMG, Revlon and Nabisco in New York City.

Originally from New York, Henry has worked in a variety of industries including manufacturing, retail and wholesale distribution, transportation, food service, and contract services companies including selling to national dealer networks. For the 15 years prior to B2B CFO^® he has been involved as a CFO and COO with small and mid-market businesses whose ownership has either been family-owned or been a platform company with private equity entities.

Henry's expertise is for mid market companies who have the following needs

1)  Improve profits and cash flow.

2) Improve top line profitable sales and company value.

3)  Improve investment and working capital

Overview: Henry's career consists of being in the business arena for 25 years with more than 15 years as a CFO for 5 companies in the middle market space. Included in this experience is working as a CFO for three platform companies for private equity and two family owned businesses.

As a result of his extensive experience he is considered a well-rounded senior financial and operations executive who has worked with companies domestically and internationally including the tasks of procurement and manufacture of imported products. Early in his career, he was recruited and hired by fortune 500 companies such as Nabisco and Revlon. For the past 15 years Henry has been involved with small and mid-market businesses whose ownership has been with both family and private equity.

This diverse background and his extensive experience with small & mid-market companies complement his knowledge in finance and operations. Additionally, having participated in growth and corporate revitalization (turnaround) environments, he has the business acumen that can benefit any organization.

Operationally, Henry has been a Vice President of Operations with responsibility for production and distribution functions which resulted in improved cost controls through measurements and dashboards. By applying continuous improvement techniques and “kaizen” principles in a manufacturing and distribution environment, inventory levels were significantly reduced while product availability, purchasing efficiency and distribution costs were significantly improved. During this process, MRP style inventory and purchasing practices were also implemented, resulting in lower working capital requirements.

Additionally, Henry has assisted companies by identifying and managing cash flow issues, utilizing weekly cash flow forecasting techniques, implementing profit improvement plans, developing cost reduction programs and providing guidance in and developing exit plans.

Henry has an outstanding reputation for integrity, trustworthiness and loyalty and am always seeking ways to improve efficiency and profitability.

Henry was also recruited and hired as a CFO by three private equity companies who operated in the mid-market space for their platform investments. Immediately after taking these assignments he delved deep into the financial records creating a business infrastructure with business disciplines. In this process, the chart of accounts, departmental cost structures and product cost accounting valuation techniques both for a manufacturing and distribution environment were addressed. These actions resulted in meaningful 5 -day actionable reporting of business results with an ability to forecast succeeding periods.

Having accomplished initial objectives, the platform investments were then ready to commence a budgeting process which was developed and implemented to measure all business disciplines. Subsequently, in these roles Henry utilized his M&A experience to evaluate and negotiate potential businesses to acquire companies for the private equity platform investments. In this process, I led the team in the effort to secure senior and mezzanine debt to finance the purchase of these acquisitions.

These acquisitions and their successful growth along with the financial infrastructure that was developed allowed for accountability and provided the basis to develop an exit strategy. The exit package was prepared including 3 year historical reporting of all financial and operational results including profitability by product and participated in marketing and negotiating the successful sale of the companies.

His credentials include earning my BBA degree in accounting from Pace University, an acclaimed business school in New York. Three years later, after securing my audit experience from “big five “firm KPMG, he received his CPA designation.

Currently Henry is  actively involved in networks of accountants, bankers, lawyers, and business CEO’s to complement my experience. This network continually proves a substantial asset to any business utilizing his services.

 

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