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Peter K. Studner Associates, Inc.
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Accomplished Finance & Accounting Professional
06.422.A.07

An experienced and accomplished finance and accounting professional with highly developed skills in setting up and running accounting operations and all related finance needs for business-to-business service organizations.

Played a pivotal role in the successful sale and subsequent integration of a privately held company into an industry leader.

Expertise includes outstanding skills in:

  • Mergers and acquisitions
  • Retirement plans
  • Self-insured workers' compensation
  • Bank financing
  • Contract negotiations
  • Real estate purchase and sales
  • Legislative processes
  • Contract administration
  • Recruiting and training staff
  • Compliance
  • Employment law
  • Budgeting

EXPERIENCE

ARAMARK Uniform Services, Burbank, CA 1980-Present

Financial Transition Specialist Consultant, Overall Laundry Services, Inc., Everett, WA, acquired by Aramark Uniform Services in December 2006 (2006-Present)

Manage the transition of critical financial operations of a $38 million acquisition into a $1.7 billion business unit of a $12 billion managed services company with more than 150 locations in 42 states.

  • Participate in Teamsters Union negotiations for a new contract beginning in June 2007 by providing financial analyses and advice to bring continuity to the merged organizations.
  • Analyzed various product lines to facilitate Overall Laundry Services' integration into Aramark's operations. Product lines included industrial towels, printer towels and linen products.
  • Created a weekly management report in the Aramark format regarding customer retention, a key metric to profitability and growth.
  • Developed a revenue tracking report of weekly sales by customer used to identify week-to-week fluctuations, improving the management of customer profitability.
  • Established procedures so that all contracts with government agencies comply with policies established to ensure consistency of contract terms and conditions.
  • Reviewed the company's accounting policies and procedures, identifying adjustments needed to comply with Sarbanes-Oxley to facilitate the merger of the two companies.

Controller & Chief Financial Officer/Secretary/Treasurer, Overall Laundry Services, Inc., Everett, WA (1990-2006)
Controller, Seattle, WA (1980-1990)

Provided full financial, accounting and administrative management for a privately held business-to-business uniform rental services company serving Washington and Western Oregon. Member of the company's executive committee.

  • Participated in the company's growth from $10 to $38 million, including completion of several acquisitions and arranging bank financing.
  • Played a key role in the sale of Overall Laundry Services, Inc. to Aramark by providing financial information and analyses to potential buyers. Set up and maintained an electronic data room, and worked with attorneys on legal issues and an investment banker throughout the sale.
  • Worked closely with the owner in investigating a number of potential acquisitions, completing the successful purchase of six companies contributing to the growth of the company.
  • Obtained bank financing of up to $10 million and maintained excellent banking relations, allowing the company to make key investments that were instrumental to its successful growth.
  • Negotiated a $1 million annual contract with the company's largest direct sale customer.
  • Provided financial leadership in the selection and negotiation of five real estate acquisitions and the sale of five properties, including the purchase and construction of a state-of-the-art, 100,000 square foot plant and corporate offices.
  • Co-leader of the team that selected and implemented a highly successful Enterprise Resource Planning system, resulting in significant improvements in generating information required for management decisions.
  • Initiated and implemented the company's first 401(k) plan, adding a significant benefit for the company's employees. Functioned as the principal member of the plan's administrative committee, providing fiduciary management of the $10 million retirement plan.
  • Led an industry effort that passed a legislative bill amending Washington State's sales tax laws which unfairly permitted out-of-state competitors to bypass the state sales tax. This new law resulted in increasing the company's sales by $1 million.
  • Directed the company's initiative to become self-insured for workers' compensation, saving the company more than $2.6 million to date.
  • Played a key role in negotiating several contracts with the Teamsters Union.
  • Directed the design and implementation of the company's first drug and alcohol policy to foster a drug-free and safe work environment.
  • In addition to overseeing all accounting functions, provided management with a variety of tools concerning productivity, personnel, retention, sales, budgeting and asset and cash management.
  • Managed, maintained and upgraded the company's non-union medical, dental, vision and disability insurance plans as the company grew from ten to more than 150 non-union employees.
  • Directed the company's risk management program, including negotiating property and casualty insurance policies.

PRIOR EXPERIENCE

Began career as an Auditor and then as a Supervisor for a "big eight" accounting firm working on audits of a variety of different companies within various industries. Subsequently became Controller of a privately held aircraft engineering and manufacturing company doing retrofits for private executive jets.

EDUCATION

University of Washington, Seattle, WA

Bachelor of Arts in Business Administration/Accounting

The Uniform & Textile Services Association, Executive Management Institute, Arlington, VA

Certificate in Management, a 200-hour program teaching practical management techniques

PROFESSIONAL AFFILIATIONS

American Institute of Certified Public Accountants
Washington Society of Certified Public Accountants

CERTIFICATION

Certified Public Accountant, State of Washington, 1973-2001

Super-Job-Search is a registered trade mark by Peter K. Studner. All rights reserved.
Copyrighted © Peter K. Studner 1997-2006
http://www.superjobsearch.com
Los Angeles - Burbank - Westlake Village - Irvine
Mailing Address: P.O. Box 241957, West Los Angeles, California 90024-9757
(310) 470-6688 - FAX (3