Case Study: Third generation steel manufacturer boosts sales and EBITDA with Elliott Davis

Third Generation Steel Manufacturer boosts sales 23% and EBITDA to 4.7% with Elliott Davis

A third generation steel manufacturer was facing severe financial difficulties, including deteriorating sales, negative margins, and a bank threatening to pull its line of credit. After unsuccessful attempts to turn the company around, its CEO sought help from Elliott Davis to restore sales, improve profitability, restructure the organization, improve its culture, and secure its financing.

Elliott Davis implemented a comprehensive turnaround strategy focused on financial understanding, expense reduction, operational improvements, and revenue growth. The efforts by Elliott Davis drove significant results, including a 23% increase in sales, a massive boost in production throughput, and a $500k reduction in SG&A expenses. This ultimately increased the company's EBITDA from -3.5% to 4.7%, securing its financial future.