Rivera Tool Company

Division: Phoenix Management Services


Client

Riviera Tool Company is a tier 1 automotive tool and die manufacturer located in Michigan.

Problem

Riviera Tool Company had been recently purchased out of bankruptcy. The previous management team had been terminated and the Company had no backlog of projects and it was completing work on its one remaining large project. The plant was operating at less the 15% of capacity and revenue was expected to completely evaporate within 2 months.

Solution

Phoenix was engaged to serve as the Chief Restructuring Officer to assist the Company with a restructure of its management team and marketing efforts. Phoenix worked with the Company to completely overhaul its accounting and finance functions as well as design a marketing strategy and pricing system that improved the competitive position of the Company with the major automotive companies. Within three months, the Company was able to win business that allowed it to operate at above 80% capacity and the Company achieved cash flow positive position for the first time in 3 years.