Consultants > David Johnson
David Johnson
Interim Executive | Value Creation | Turnaround | Restructuring | Performance Improvement | Change Management | Business Transformation
David Johnson, founder and managing partner of Abraxas Group, has a 25-year track record of driving organizational change. He has served as an interim executive or financial advisor to dozens of middle market companies in transition.
Throughout his career, David has demonstrated a commitment to thought leadership, with numerous speaking engagements and articles on the topics of business transformation, change management, interim leadership, restructuring, turnaround, and value creation to his credit. David received his MBA from the University of Chicago and completed his undergraduate studies at Fairleigh Dickinson University.
Areas of Expertise
FINANCE
- Business Lending
- Construction & Engineering
Project History
Abraxas Group
Thursday August 25, 2022
Manufacturing Company (Interim Leadership) 2020 – 2022
Served as Interim COO of a family-owned CPG company facing the challenges of persistent losses
and a rapidly changing market
- Successful turnaround resulted in:
++ Developed and implemented strategic turnaround plan resulting in ~ $20 million of equity value creation
++ Successful rollout of KPI reporting
++ Returned company to profitability after multiple years of losses
++ Break-even point decrease of 15.4%
++ Operating margin increase of 5.1 percentage points
++ Secured $6 million in financing
Industrial Services Company (Interim Leadership) 2018
Served as Interim CFO of a private-equity owned industrial services company facing severe
financial challenges
- Successful turnaround resulted in:
++ Developed turnaround plan in concert with CEO
++ Advised company through out-of-court restructuring that eliminated over $60 million in debt
++ First quarter of the turnaround saw a 300% increase in EBITDA compared to the prior year period
++ Successfully implemented $6 million in cost savings
++ Enterprise value increased by 75% during a 6-month engagement (per third-party valuation)
Behavioral Healthcare Company (Interim Leadership) 2017
Served as Interim COO of a 140-year-old nonprofit organization facing severe financial
and operational challenges
- Successful turnaround resulted in:
++ Oversaw development and implementation of turnaround plan, featuring a 6x YoY increase in EBITDA
++ Negotiated a $10 million refinancing package with $2.5 million of new money in a bridge facility
++ Secured deferred payment terms on $4 million of critical vendor A/P
Construction Company (Interim Leadership) 2015 - 2016
Served as Interim CFO of a private equity backed construction company facing operational and
capital structure challenges
- Successful turnaround resulted in:
++ Doubling of Enterprise Value (>$70 million increase)
++ Successful refinancing of $100 million in total debt facilities
++ 230% YoY increase in comparable period EBITDA (unadjusted)
++ 34% reduction in comparable period average Days Sales Outstanding
Nonprofit Organization (Interim Leadership) 2015
Served as Interim COO, charged with leading a strategic turnaround initiative for a 120-year-old
nonprofit organization facing considerable financial and organizational challenges
- Successful turnaround resulted in:
++ Developed and implemented a turnaround plan featuring a reorganized leadership team, a rationalized cost structure, the realization of operating efficiencies, and incremental turnaround financing of $5.5 million
++ Identified and implemented cost savings opportunities exceeding 13% of operating budget