Philadelphia, PA CFO
41 Years of Experience
Wayne Lorgus has been helping businesses achieve success for over 30 years. His experiences as a chief financial officer, CPA, and business unit manager help him bring a comprehensive perspective to situations faced by his clients. He brings strengths in strategic and financial planning and analysis, cash flow management, financing growth, and improving business processes.
Wayne's assignments have focused on helping companies with cash flow challenges, building infrastructure to support growth, and implementing an exit strategy and sale of the company. His experiences have spanned industries as diverse as manufacturing, consumer products, food processing, private label, market research, luxury goods, industrial products, wholesale/distribution, construction, electric motors, automotive testing equipment, and professional services.
Wayne has helped companies make dramatic improvements in their cash flow. By improving credit and collection procedures and revamping inventory management, he helped a $28 million company reduce their DSO by 17% and improve their on-time payment percentage from 55% to over 90%, while increasing their inventory turnover by 12%. He has negotiated payment terms with vendors, and installed vendor performance monitoring systems. He helped turn a $50 million company from a $1 million loss to a 2% profit in one year. Under his guidance, a $25 million company was able to cut its costs by 10% in twelve months.
Wayne has developed business plans for venture financing and loan packages for bank financing. He has negotiated re-financings of existing term and working capital loans, and asset-based credit arrangements up to $25 million. He has also negotiated debtor-in-possession financing.
Wayne has an extensive background in developing and implementing financial controls as part of an operational and strategic approach to business growth. Through timely preparation and analysis of financial, operational, and cash flow data, he has helped companies identify and improve their results, fix problems before they become a crisis, and developed the monthly and yearly routines to achieve their goals. Wayne helped guide a $17 million company to double their business in three years and develop a new channel of distribution, while increasing EBITDA from 1% to 8%.
Wayne has helped companies craft exit strategies and sell part or all of their business. He negotiated the sale of two loss-making, non-core divisions for an industrial equipment manufacturer. He has guided businesses through selection of an investment banker, worked with attorneys and auditors to keep the due diligence process on track, and brought deals to a successful closing.
Wayne graduated from the College of William and Mary in Virginia, and earned a MBA from the Wharton School, University of Pennsylvania. He is also a graduate of the Gemological Institute of America and the USAF Air University. He holds CPA certificates from New York and Pennsylvania. He began his career with Arthur Andersen & Co. in New York, and worked in Philadelphia as a manager with that firm. Wayne then moved into private industry, working for Campbell Soup Company for 10 years in internal audit, operations planning, marketing, and business unit management. After leaving Campbell's, Wayne served as the CFO of a food processing company in South Jersey, the CFO and Executive VP of a jewelry manufacturing company in New York City, the CFO of a NASDAQ Small Cap manufacturer in Exton, PA, and the CFO of a jewelry wholesaler in New York, before joining B2B CFO® as a partner.
Wayne has his office in downtown Philadelphia. When not working with clients, you can find Wayne visiting his two grown children in Washington, DC, rowing from Boathouse Row on the Schuykill, flying as a copilot on a Challenger 604 business jet, or conducting search and rescue missions for the Delaware Wing, U.S. Air Force Auxiliary, where he is a check pilot, mission pilot, and serves as Wing Finance Officer, and is frequently on TDY supporting the 548th Combat Training Squadron.
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About Wayne R. Lorgus
College of William and Mary
Wharton School, University of Pennsylvania
Air Command and Staff College, USAF Air University
Gemological Institute of America
Certificates & Licenses:
CPA, New York
American Institute of CPA's
Pennsylvania Institute of CPA's
Greater Philadelphia Senior Executives Group
Chester County Chamber of Business and Industry
Financial Executives Networking Group