Tom Caulfield is a Principal with Novo Advisors, has 35+ years of C-level operational management, interim management, business plan integration, turnaround and restructuring experience. He is especially valued by his colleagues and clients for his leadership, keen insights, and key drivers to achieve results and create value.
Tom’s career reflects a broad range of multi-industry financial and operational management across complex domestic and international businesses. Tom has worked collaboratively with the Board of Directors, management, and ownership on opportunities to improve performance, profitability, and cash flow.
His expertise includes development of business plans, cash flow projections, SKU profitability analysis, zero based budgeting, job costing, and inventory /supply chain management. Tom has led sale processes, quality of earning reviews, executive searches, buy-side /sell side diligence support and business integration plan.
Tom has assisted over 125 businesses ranging in revenue from $15 million to over $1 billion.
- As the interim CEO of a publicly traded apparel Company his efforts led to a successful sale that returned a $6 cash dividend (stock price was $1 a share when hired) to the shareholder that was deemed a capital gain and not ordinally income.
- As the financial advisor to a $500 million saw manufacturer and distributor of industrial products that was losing money, was out of cash and in an over advance position, Tom implemented a zero-based payroll/budget plan that reduced/eliminated or enhanced unprofitable customers/products and returned to Company to profitability. From a liquidity standpoint he established an inventory reduction and vendor management plan to provide sufficient liquidity until the Company returned to cash flow positive.
- As a CFO of a $225M family office business Tom assisted the family sell the Company in several discrete transactions resulting in a significant return to the shareholders.
- As a global CFO of a multi-national sponsor owned company, Tom led the effort in acquiring an add-on company in Germany, negotiated and secured the credit facility to financing the acquisition and support the company’s growth strategy as well as the integration plan post the acquisition.
- As a financial advisor of a $450 million livestock feed distributor, Tom was engaged first by a senior lender due to a fraud and $30 million over advance. Within weeks he established a relationship with the owners, Board of Directors and management team and was hired to work for the Company to start a turnaround plan. In six short months the Company was returned to profitability, suppliers continued to ship but the Company still had a significant over advance. Next Tom and the interim CEO worked together to sell a majority position (65%) of the Company – during due diligence, the buyer was totally convinced of the turnaround plan, understood the fraud, and made an offer for the hold Company. After negotiating and receiving the necessary two-thirds vote from the shareholders, the sale occurred and the owners in just a seven-month period went from having a business that was on the verge of liquidation to enjoying proceeds more than over 25 years of dividends distributed.
- As a financial advisor to a consumer bankruptcy company that saw its revenue drop 82% due to the pandemic, Tom assisted the Company in reducing its breakeven point by significant cost reductions, and improved cash management. The Company was able to survive by a negotiated forbearance agreement with its lender, ERC and PPP funding and a runoff of accounts receivable. After the pandemic, the Company’s revenue continued to grow, but we were still only at 50% of pre-pandemic levels and was below its cash flow breakeven. Several of its landlord would no longer defer rent or except a rent reduction, so after numerous attempts to negotiate the lease terms amiable, the Company filed a Chapter 11 and elected a sub chapter V plan under the bankruptcy code to reject several of its commercial real estate leases which had over seven years remaining on them. The Company’s plan of reorganization was confirmed in just four and a half months. The returned-on investment of the Company to reject the leases compared to the cost of professional fees was 51% annual ROI over seven years. The company is profitable today and operating at a much lower breakeven point.
Prior to Novo, Tom was the CFO for 13 years of family and privately equity owned businesses. Prior to his CFO positions, Tom was a Senior Partner at Silverman Consulting and started his career as an auditor with Wolf & Company and Coopers & Lybrand, now PwC.
Tom has severed on several boards and is active in numerous non-profit organizations, including Tribute to the Troops. Tom received a Bachelor of Science degree in Accounting from Southern Illinois University at Carbondale.