Our Client
A $110MM private-equity backed designer and manufacturer of innovative power solutions with over 50 years of power supply design experience; products include specialty power supplies and electromagnetic interference (“EMI”) filters for diverse, attractive endmarkets – industrial, semiconductor, medical, military, aerospace, and other end markets. + 40 full time engineering employees with 69 degreed engineers on staff, optimized low-cost Asian manufacturing combined with U.S.-based advanced engineering and “Made in the USA” manufacturing for military and medical customers + Distinguished in the market with products that are typically specified into customers’ devices for the design life of that application, creating a diversified and stable base of recurring revenue; strong growth prospects resulting from design wins on next generation customer applications
Why NorthWind?
We were retained by Tinicum Incorporated to deliver a strategic-minded, deal proven CFO to help build a scalable finance/accounting framework, enhance and refine existing processes, and optimize reporting to provide more meaningful insight into the business and resonate with board expectations. Due to a newly promoted CEO, significant emphasis was also placed on recruiting an operationally savvy CFO who could function as a proxy. David Wall, CFO of Aavid Thermalloy, was courted and selected to join Astrodyne TDI. David demonstrated the appropriate pedigree (MBA & CPA) and deep experience across a range of PE manufacturing environments. With Aavid, David was responsible for helping improve EBITDA by 56% and completing six different acquisitions and integrations creating $100M in net new shareholder value before a strategic sale to Boyd Corporation for 13x EBITDA. Prior to Aavid, David experienced five successful exits with Genstar, Altra, and Audax.
The Result
Since joining Astrodyne in Q3 2018, David has improved A/R, cashflow, inventory turns, and has laid the foundation for a new ERP system to be fully implemented by early in 2019
