MICHAEL G. HANSEN
Evanston,IL
Summary
Dynamic and accomplished global CFO with a proven track record across diverse regions, including South Africa, the Middle East, the United Kingdom, and the U.S. Strong focus on results and value creation, supported by extensive experience in various industries such as telecommunications, aerospace and defense, software, public accounting, manufacturing, and automotive. Qualified accountant with a decade of leadership in private equity-owned companies, excelling in global P&L management, strategic planning, and successful M&A activities. Recognized as a 2024 CFO of the Year Finalist by Chicago FEI, demonstrating a commitment to excellence in financial stewardship and team development while driving organizational growth through innovative solutions and effective communication.
Overview
22
22
years of professional experience
1
1
Certification
Work History
Chief Financial Officer
Heniff Transportation Systems LLC
Oak Brook, Illinois
01.2022 - Current
- Oversee a team of 37 staff based mostly in Oak Brook, Illinois.
- Restructured the Accounting Team to drive efficiency, created and hired a FP&A team to support strategic growth initiatives.
- Developed and oversaw yearly budgets and capital structure of company to determine best mix of debt, equity, and internal financing, ensuring alignment with organizational goals.
- Re-designed Board Deck to help enhance Board decision making.
- Unable to get timely, accurate information to make key business decisions as Accounting had lost credibility and created a silo. Fixed this - now seen as a key business partner.
- Managed Strategic Capital expenditure models and oversee spend.
- Set up regular Leadership Reporting including Divisional and Terminal level Reporting.
- Involved in 6 Acquisitions including driving of synergies.
- Increased cash flow by optimizing working capital management and reducing outstanding receivables. Reduced DSOs from 60 days to a low of 34 days in 24 months; collected a backlog of $21M in Past Dues.
- Multiple sell-side and debt presentations and meetings with investor groups.
- Implemented cost control measures to improve operational efficiency across departments.
- Represented organization at industry conferences and events.
- Analyzed industry trends and tracked competitor activities to inform decision making.
- Mentored finance team members, enhancing their skills in financial analysis and strategic planning initiatives.
- Fostered a culture of continuous improvement within the finance team, encouraging professional development opportunities for staff members.
- Collaborated with legal, accounting and other professional teams to review and maintain compliance with regulations.
Chief Financial Officer
CCM LLC
12.2020 - 12.2021
- Oversaw a team of 17 staff based mostly in Hattiesburg, Mississippi.
- Worked closely with the CEO and Board, advising the Board on strategic financial matters, providing insightful recommendations backed by thorough analysis.
- Led financial forecasting efforts, utilizing advanced analytics to inform strategic decision-making processes.
- Raised debt to fund a cash strapped business, despite business being in distress.
- Dealt with a covenant breach with the banks and helped manage the process.
- Revised Forecasting tools, cadence of reporting, detailed cash flow forecasting on a weekly basis.
- Helped a clean audit report despite having an extremely complex inventory recording mechanism.
- Worked with Operations on business efficiencies.
- Produced a Strategy Report with the CEO and a solution to rightsizing the business to try and make it profitable.
- Fostered cross-departmental collaboration to streamline financial reporting processes and improve data accuracy.
- Developed and oversaw yearly budgets and capital structure of company to determine best mix of debt, equity, and internal financing.
- Oversaw the successful completion of the external audit, addressing any recommendations promptly to ensure smooth operations.
Chief Financial Officer
BBB INDUSTRIES, LLC
Daphne, Alabama
03.2019 - 11.2021
- Oversaw a team of 60 staff based in Daphne, Reynosa Mexico, Tennessee and Oklahoma.
- Gross Revenues over $1bn with 11,000+ employees.
- Manage large debt and lead quarterly presentations to Moody's, S&P and a large Lender Group (including Bond Holders).
- Actively involved in Treasury, cash flow forecasting, overseeing the large factories and the complexities involved with that and the re-man industry.
- Re-aligned and restructured the accounting and finance teams.
- Designed detailed cash reporting helping drive positive cash flows.
- Enhanced the reporting to Boards and Leadership teams and tightened delivery deadlines as well as presenting at the monthly Board Meetings enabling the Board to understand the dynamics impacting the business.
- Completed two annual forecasts YTD, multiple scenarios during the COVID crisis, revised 5-year Strategy.
- Led a successful bond raise of $240M during COVID. This capital raise included an Offering Memorandum process, with virtual roadshows. Present to the Lender Group quarterly.
- Upsized the revolver facility by $25M.
- Presented to the Ratings Agencies (Moody's and S&P).
- Helped with the design and roll out of a new company structure.
- Drove the audit to its earliest close and delivery of signed accounts.
- Helped drive cost out during COVID shutdown including swapping out auditors and appointing new ones cutting audit fees by 50%.
- Directed financial strategy, aligning with business goals to enhance profitability and operational efficiency.
- Mentored finance team members, enhancing their skills in financial analysis and strategic planning initiatives.
- Evaluated investment opportunities, guiding executive team decisions on capital expenditures for growth initiatives.
- Analyzed operational issues and implemented corrective action to maximize profits.
- Collaborated with executive leadership to establish budgetary guidelines and allocate resources efficiently across the organization.
- Oversaw the successful completion of external audits, addressing any recommendations promptly to ensure smooth operations.
Contract Chief Financial Officer
AEssenseGrows
Silicon Valley, CA
09.2018 - 02.2019
- Six-month contract CFO role to aid former CEO with Series B raise and to investigate listing on the Canadian Stock Exchange.
- Refined cash flow forecasting mechanisms including complexity of China Tariffs.
- Changed auditors and brought on new firm in line with company strategic direction.
- Met with key vendors and customers to help drive better terms and collections, respectively. Improved working capital velocity.
- Changed Board Reporting to better reflect business dynamics.
- Presented to bankers, lenders, VC companies and helped create Series B Teaser documents.
- Investigated the requirements of listing on the Canadian Stock Exchange and provided findings to the Board with recommendations..
- Set everything up for a full-time CFO to take over post my six months.
- Directed budget development, budgetary controls and recordkeeping to make informed financial decisions.
- Oversaw budgets, payroll, and accounts payable and receivable.
Chief Financial Officer
CAMBIUM NETWORKS
Rolling Meadows, Illinois
01.2014 - 08.2018
- Oversaw a global accounting team of 21. Directed Accounting, FP&A, Treasury, Tax, Audit, Insurance.
- Chaired Remuneration and IPO Readiness Committees and helped take the company though Testing the Waters, S1 filing (went public end of June 2019 - symbol CMBM). Successful IPO exit. Starting and ending revenue responsibility of $140M to $250M.
- Re-engineered and streamlined accounting teams across key geographies attracting A level talent, especially with SEC experience.
- Helped revenue 52% from 2014 to 2017. First two quarters 2018 grew 19%, respectively.
- Key member of team that drove Gross Margins from 47% (2014) to 51% (2017).
- Helped grow EBITDA from 5% (2014) to 13% (2017) and turned company from operating loss to an operating profit.
- Substantially improved working capital, generating an overall 45 days reduction in working capital velocity, with >90 days falling from 13% at start of the role to 3.5% last year.
- Successful completion of three Debt Refinancing during tenure, the last one in December 2017 raised $100M from a banking consortium.
- Investigated and evaluated acquisition targets.
- Resolved key issues with Auditors, Bankers and Lawyers - covered General Counsel role for six months during a search process.
- Chaired the Remuneration Committee.
- Created new Board Decks that the Board felt was best in class amongst their Portfolio companies.
- Worked closely with the CEO to drive Strategic direction in the business.
- Selected NASDAQ as the listing exchange and helped the GC present D&O to underwriters in London.
- Met with Insurance Underwriters in London and presented to a large Group to get strong D&O support.
Chief Financial Officer
VERENGO SOLAR
01.2013 - 01.2014
- Brought in to take the business to the next level, formulating the correct strategy moving forward and helping with change in an extremely fast moving, competitive environment (Clean Energy) where the retail price (PPW) had dropped by 26% in three years.
- Completed the 2014 Budget plus the five-Year Strategy Plan (to align with organizational goals).
- Remodeled the month-end and reporting processes building consistency and accuracy of data.
- Designed the Board Packs to provide more clarity to Shareholders in a complex environment and presented them.
- Actively involved building banking relationships with Bridge Bank San Jose (plus others), renegotiated credit lines plus sought other debt funding partners.
- Shortened the Audit cycle by five months.
- Directed financial reporting initiatives, providing insights to drive executive decision-making.
- Conducted detailed analysis of company financial information and oversaw preparation of related reports.
- Tracked cash flow and financial planning to analyze company's financial strengths and weaknesses and propose strategic directions. Managed cash flow analysis on a weekly basis, optimizing liquidity to speed business opportunities.
Chief Financial Officer
RAE SYSTEMS
Silicon Valley, CA
01.2011 - 01.2013
- Achieved mandate from PE to build in a robust compliance platform and fully address FCPA issues with DOJ/SEC arising from when RAE was a public company - resolved within 18 months.
- Led Finance, Tax, Treasury, Property, Insurance, HR and IT with oversight over Legal. Global footprint with Silicon Valley HQ and 13 locations worldwide.
- Produced a Strategic Five-year plan for the business as well as leading the Budgeting and Forecasting processes.
- Set up a purpose driven finance team to help drive efficiency across global locations.
- Helped the company achieve double digit revenue growth and significantly improved EBITDA margins - hence the high deal value.
- Brought on board key talent to help drive value across the regions.
- Achieved 100% cash conversion for two years.
- Reduced G&A by 31% over two years - swapped out the auditors improving scale with the new Tier 4 firm.
- Led Strategy and Budgeting processes as well as designing and presenting all Board Packs to PE - during the sale process; Citibank highly complimented the professionalism of all the Board Reports.
- As a key member of the Executive Team, involved in every aspect of the sales process (run as an auction) as the Lead with the COO, culminating in the successful sale of the business to Honeywell with a multiple of 15X EBITDA (3.45X Revenue) and an excellent return on ROIC to the PE firm.
- Helped set up offshore operations in Germany, Dubai and Japan as well as successfully handling a sensor acquisition/integration in Munich.
- Worked with Honeywell during the transition period to make sure the integration went smoothly.
- Took the audit to tender, brought on board Price Waterhouse and reduced audit fees substantially.
Chief Financial Officer, Smiths Interconnect
SMITHS PLC
Thousand Oaks, California
01.2004 - 01.2011
- Led the global Finance, Tax, Treasury, Property, Insurance and IT organization supporting 26 different companies in the U.S., China, India, Central America and Europe.
- Primary focus on driving the businesses to achieve aggressive growth goals - growth grew from $300M to $550M (YoY double digit sales and profit growth).
- Functioned as the key business leader during the transition of five Presidents during a five year's period, including nine months as interim President of the organization.
- Helped the CEO redesign the Global Organization Structure and employed all the Divisional CFO's, Corporate Tax and Treasury professionals for a full decentralized Division and realigned all the reporting.
- Leadership role in assessment, due diligence and successful implementation of M&A activity over this period. A key member of the M&A team and actively involved in acquisitions ranging in size from $30M to $200M. Assisted in the successful acquisition and integration of 11 companies into Interconnect.
- Actively involved in setting up offshore operations in China, Mexico, India and Tunisia to expand Interconnects customer interface and growth potential.
- Involved in formulating the Strategic direction of the business, the audit process, monthly and half year reporting, the budgeting process, investigations, HR issues and operational issues.
- Analyzed operational issues and implemented corrective action to maximize profits.
- Fostered a culture of continuous improvement within the finance team, encouraging professional development opportunities for staff members.
- Oversaw the successful completion of external audits, addressing any recommendations promptly to ensure smooth operations.
- Championed effective communication between finance personnel and other departments to facilitate cross-functional collaboration on projects and initiatives.
- Implemented tax planning strategies that minimized liabilities while ensuring full compliance with local, state, and federal laws.
- Provided insightful financial analysis for mergers and acquisitions, resulting in successful transactions that added value to the organization''s portfolio.
- Streamlined financial processes by implementing new accounting software and automation techniques.
Education
MBA - Finance
Heriot Watt University, Edinburgh Business School
Edinburgh, ScotlandBachelor of Commerce - Accountancy and Auditing
University of Natal
Durban, South AfricaFellow Chartered Certified Accountant (inactive) - Accounting, IFRS
Professional Accounting Body (UK)
United KingdomSkills
- Mergers and acquisitions experience
- Financial strategy development
- Cash flow management
- Debt management expertise, lender group responsibility
- Private Equity experience (buy and sell side)
- Cost reduction strategies
- Executive leadership
- Profit and loss management on a global basis
- Budgeting and business forecasting
- Financial leadership and people development
- Board collaboration
- Capital expenditure planning, control and rationalization
Additional Information
Stanford University, 2013, Stanford Executive Institute, Fellow Chartered Certified Accountant (FCCA), United Kingdom, non-active, Golf, Scuba Diving, Travel, Reading, History
Certification
Fellow Certified Chartered Accountant (UK) (non active)
Languages
Afrikaans
Limited Working
Interests
- Participate in golf and scuba diving
- Historical Exploration
- Exploring famous landmarks, historical sites, and cultural attractions in a new destination
- Avid Reader
Timeline
Chief Financial Officer
Heniff Transportation Systems LLC
01.2022 - Current
Chief Financial Officer
CCM LLC
12.2020 - 12.2021
Chief Financial Officer
BBB INDUSTRIES, LLC
03.2019 - 11.2021
Contract Chief Financial Officer
AEssenseGrows
09.2018 - 02.2019
Chief Financial Officer
CAMBIUM NETWORKS
01.2014 - 08.2018
Chief Financial Officer
VERENGO SOLAR
01.2013 - 01.2014
Chief Financial Officer
RAE SYSTEMS
01.2011 - 01.2013
Chief Financial Officer, Smiths Interconnect
SMITHS PLC
01.2004 - 01.2011
MBA - Finance
Heriot Watt University, Edinburgh Business School
Bachelor of Commerce - Accountancy and Auditing
University of Natal
Fellow Chartered Certified Accountant (inactive) - Accounting, IFRS
Professional Accounting Body (UK)