Dan-Loc Bolt & Gasket

Client

The Company is a leading manufacturer of specialty bolts and steel gaskets used worldwide by the upstream and downstream oil and gas industry.

Challenge

Disappointing operating results led to the departure of key management.

Solution

Bridge was engaged to fill the role of Chief Restructuring Officer. The Bridge Team: • Assessed performance management systems and product profitability • Implemented a margin management process to restore eroding margins • Created a balanced scorecard management initiative for critical success strategies • Outlined a distribution strategy for strategic alliances

Results

The Bridge initiatives successfully improved cash availability, restored lender confidence and enhanced key customer relationships. Revenue increased by 11.5 percent gross margins grew 17.6 percent. Positive net income was restored, for a total improvement of 154 percent.