Financial Operations Stabilization

$250M Spa Manufacturer


  • The company is a PE-backed manufacturer and distributor of hot tubs
  • The company was family-owned that grew rapidly over 6 years to a point where the owners decided to sell as the complexity of such a large company was too much for their skillset
  • During the past two years, the PE fund has acquired two additional hot tub companies and is consolidating to become a larger player in the hot tub space


  • Converted the company to accrual accounting
  • Built up the accounting, finance and FP&A roles
  • Took the companies through multi-year audits and purchase accounting
  • Trained the team to sustain this higher level of accounting and financial reporting
  • Created financial tools to run the business from day to day to annual budget
  • Educated the team on accounting, and financial planning tools (their ERP and MS Office)


  • Sales backlog was analyzed and reduced by 3-5 months
  • Accounting close was reduced from 3 weeks to 1 week and improved the accounting finance skillset
  • Cashflow was improved by several million by extending AP terms and reducing AR days through floorplan financing program
  • Lean Manufacturing implementation on the production floor improved throughput by 20% with zero capital investment
  • Days Inventory On Hand (DIOH) was reduced from 43% to 39%
  • Cut turnover from over 30% to 8% thru a series of pay increases and employee engagement programs