Who We Are
What We Do
C.T. Moffitt & Company, a management consulting and interim management firm, was founded in 1985. Headquartered in Beverly Hills, California, C.T. Moffitt & Company has undertaken assignments on the U.S. West Coast and around the globe.
The common theme of the firm's engagements
has been to assist companies in transition ranging
from startups to well established enterprises in
need of fresh perspective, to companies on the
brink of bankruptcy.
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Challenge: A bank-owned private equity firm inherited ownership of a $200 million Oklahoma-based processor of animal byproducts. Spun off from a NYSE-listed parent several years earlier, the company's revenues and profits had since languished. Marginally profitable for three years, the CEO resigned. Faced with a threatened strike, the new bank owner sought new leadership to position the company for an exit.
What We did: Assuming control as Interim CEO, C.T. Moffitt & Company installed new management information systems (and a CIO), revamped financial reporting, negotiated the first ever incentive-based contract with the company union, secured a new line of credit, and led the company to profitability.
Results: Moffitt stabilized the company's finances and arranged sale of the company to a New York merchant bank by means of an industrial revenue bond financing and simultaneous refinance of senior bank debt.
"For every complex problem, there is a solution that is simple, neat and wrong."
- H. L. Mencken
Challenge: An importer/manufacturer of over 3000 small hardware products suffered from poor budget controls and lagging sales. Asked to increase their bank line, the lender refused, introducing C.T. Moffitt & Company to help the company revamp its reporting and controls.
What We did: Installed as the company's CFO, C.T. Moffitt & Co. embarked on a strategic planning exercise that produced a long range plan followed by yearly budgets and quarterly reviews. Moffitt brought in venture capital investors with an investment that tripled the company's capitalization. A board of directors was formed, and over several years senior debt was refinanced three times, rising in parallel with rapidly advancing sales from $5 million to $30 million. Along the way, Moffitt quarterbacked three acquisitions that added $25 million in revenue.
Results: Sales rose from $5 million to over $77 million during C.T. Moffitt's tenure with the company as CFO, consultant, and board member.