Nick Mungor is a Partner with Novo Advisors, specializing in performance improvement, turnarounds, liquidity management and restructurings through both out-of-court and in-court forums. Nick offers expertise and manages Novo engagement teams in financial modeling, liquidity management, business plan due diligence, profitability analysis, operations management, process improvement and asset sales. He has worked alongside boards of directors, attorneys, lenders and other critical stakeholders to achieve a variety of business objectives in complex situations.
Over the course of his professional services career, Nick has advised clients across a variety of industries including aerospace, agriculture, automotive, consumer finance, distribution, equipment leasing, food processing, healthcare, leisure, media, retail and technology.
Nick has worked with businesses from $15 million to $1 billion in sales:
- As financial advisor to a $45M 3PL and last-mile delivery company in the wine and spirits industry on pace to lose $4M annually, Nick and his team advised the Company through a customer rationalization plan, footprint optimization and data-supported price increases to customers, taking the earnings profile from ($4M) annual run rate to $4.5M (10% margin) in 18 months.
- As CRO of a $50 million aerospace and defense contractor specializing in CNC machined and formed metal parts for both commercial and military aircraft enduring escalating costs under fixed pricing contracts with its customers, Nick and his team led expedited efforts to secure improved pricing from customers (16% in total), developed a supplier management plan to continue the flow of goods and services, and facilitated a recapitalization of the business to preserve 200+ jobs and critical supply chain for the world’s largest aircraft OEMs.
- As advisor to a $1 billion supplier to the hospitality industry severely impacted by the Covid-19 pandemic, Nick negotiated payment plans with critical suppliers and supported all sell-side financial due diligence that led to the sale of the business and preservation of 400+ jobs.
- As advisor to an $80M pasta manufacturer, Nick led operational initiatives to drive efficiency of production lines by reducing line changeover costs and increasing yield per production hour. Additionally, Nick assisted the Company in achieving $1M of annual cost savings by implementing a 60-day plan to bring all 3PL warehousing and delivery functions in-house.
- As advisor to a $150M auto parts recycler, Nick led A/P and treasury centralization efforts to manage cash flow and liquidity without additional capital support while the business performed below breakeven EBITDA and eventually sold.
Prior to joining Novo in 2016, Nick spent the previous five years at McMaster-Carr Supply Company, where he spent time managing various functions throughout the organization, including Bulk Freight Operations and Financial Control, with a focus on consistent organizational practices and customer experiences. Prior to McMaster-Carr, Nick spent five years with FTI Consulting’s Corporate Finance Restructuring Group.
Nick holds a B.S. in Finance from the University of Illinois.