Harry R. Novak President
(630) 388-5417
(630) 696-2265 Cell
Harry.Novak@NovakFinancial.Net
Harry R. Novak is a financial and operating professional with significant experience in business operations, business strategy, capital sourcing, acquisition and divestitures, refinancings, restructurings, turnaround situations, valuations, strategic planning, business integrations and litigation support matters. His business career encompasses over thirty-five years in executive management positions and in manufacturing, commercial lending and financial advisory assignments. His assignments include:
* Advisor and interim manager of a manufacturer and importer of small electric appliances experiencing significant losses, poor financial controls and quality control issues. Implemented programs to significantly reduce costs and improve cash flow through aggressive A/R and inventory management, plant consolidation, and sale of excess real estate. Established office in Shanghai to oversee quality control of products being produced by China suppliers.
* Advisor to a $300 million dry fertilizer and metal alloy distribution company. He assisted in reshaping business operations to reduce market risks and lead the successful out of court restructuring of the business and provided a new lender. Subsequently, served on Board of Directors and assisted in successful sale of the company.
* Assisted in the sale of several small and medium manufacturing, distribution and service businesses. Prepared sales memorandum, sourced potential buyers, negotiated sales price and sale documentation.
* Advisor to a $130 million national distribution company having eight distribution centers and 30 sales/service locations. Performed a detailed assessment of the company’s financial performance and operational structure with particular attention given to customer profitability and inventory management. Implementation of our recommendations brought significant improvement in profitability and cash flow.
* Advisor to a publicly traded telecom company to assess its viability and financial alternatives. Financial advisor to the company during its successful Chapter 11 reorganization that included implementing significant cost reduction measures, asset dispositions, contract negotiations with both customer and suppliers, and claim settlement negotiations.
* Maximized recovery for a national asset based lender on a troubled loan by coordinating the sale of the company on a going concern basis within 45 days. Also managed the financial and operational functions of the business during the sales process.
* Provided business valuations, business assessments, testimony and other support in various litigation matters including tort, fraud, and bankruptcy matters.
Mr. Novak spent more than ten years at a national manufacturing company, which had eight facilities and 250 employees, where he actively managed the company’s successful turnaround and restructuring. During his tenure as CFO, he made several acquisitions and divestitures in order to reposition the company’s business. He also completed a private equity offering and a leveraged recapitalization of the company. Mr. Novak served as President of the company during the successful sale of the business.
Mr. Novak spent thirteen years with Heller Financial, Inc., where he participated in numerous financings for acquisitions, growth capital, turnarounds and bankruptcies.
Mr. Novak was an Executive Vice President at a Cleveland area financial advisory firm, where he was involved with the sale of businesses, private placements of equity, and refinancings for both profitable and distressed companies.
Prior to forming Novak Financial Services, LLC, Mr. Novak was a Senior Vice President & Managing Director at Buccino & Associates, Inc. a national business consulting firm for nine years.
Mr. Novak is a Certified Turnaround Professional (CTP) and holds a Bachelors degree in Economics from MacMurray College and a MBA in Finance from DePaul University. He is a member of the Turnaround Management Association, the Association for Corporate Growth, and the Private Directors Association.
(630) 388-5417
(630) 696-2265 Cell
Harry.Novak@NovakFinancial.Net
Harry R. Novak is a financial and operating professional with significant experience in business operations, business strategy, capital sourcing, acquisition and divestitures, refinancings, restructurings, turnaround situations, valuations, strategic planning, business integrations and litigation support matters. His business career encompasses over thirty-five years in executive management positions and in manufacturing, commercial lending and financial advisory assignments. His assignments include:
* Advisor and interim manager of a manufacturer and importer of small electric appliances experiencing significant losses, poor financial controls and quality control issues. Implemented programs to significantly reduce costs and improve cash flow through aggressive A/R and inventory management, plant consolidation, and sale of excess real estate. Established office in Shanghai to oversee quality control of products being produced by China suppliers.
* Advisor to a $300 million dry fertilizer and metal alloy distribution company. He assisted in reshaping business operations to reduce market risks and lead the successful out of court restructuring of the business and provided a new lender. Subsequently, served on Board of Directors and assisted in successful sale of the company.
* Assisted in the sale of several small and medium manufacturing, distribution and service businesses. Prepared sales memorandum, sourced potential buyers, negotiated sales price and sale documentation.
* Advisor to a $130 million national distribution company having eight distribution centers and 30 sales/service locations. Performed a detailed assessment of the company’s financial performance and operational structure with particular attention given to customer profitability and inventory management. Implementation of our recommendations brought significant improvement in profitability and cash flow.
* Advisor to a publicly traded telecom company to assess its viability and financial alternatives. Financial advisor to the company during its successful Chapter 11 reorganization that included implementing significant cost reduction measures, asset dispositions, contract negotiations with both customer and suppliers, and claim settlement negotiations.
* Maximized recovery for a national asset based lender on a troubled loan by coordinating the sale of the company on a going concern basis within 45 days. Also managed the financial and operational functions of the business during the sales process.
* Provided business valuations, business assessments, testimony and other support in various litigation matters including tort, fraud, and bankruptcy matters.
Mr. Novak spent more than ten years at a national manufacturing company, which had eight facilities and 250 employees, where he actively managed the company’s successful turnaround and restructuring. During his tenure as CFO, he made several acquisitions and divestitures in order to reposition the company’s business. He also completed a private equity offering and a leveraged recapitalization of the company. Mr. Novak served as President of the company during the successful sale of the business.
Mr. Novak spent thirteen years with Heller Financial, Inc., where he participated in numerous financings for acquisitions, growth capital, turnarounds and bankruptcies.
Mr. Novak was an Executive Vice President at a Cleveland area financial advisory firm, where he was involved with the sale of businesses, private placements of equity, and refinancings for both profitable and distressed companies.
Prior to forming Novak Financial Services, LLC, Mr. Novak was a Senior Vice President & Managing Director at Buccino & Associates, Inc. a national business consulting firm for nine years.
Mr. Novak is a Certified Turnaround Professional (CTP) and holds a Bachelors degree in Economics from MacMurray College and a MBA in Finance from DePaul University. He is a member of the Turnaround Management Association, the Association for Corporate Growth, and the Private Directors Association.