Marcum Provides Strategic Business Advice to Manufacturer Seeking International Growth
ABOUT THE CLIENT
Founded in 1992, this Midwest-based medical manufacturer produces thousands of highly engineered implants and instruments. The company was at the forefront of many early spine systems and has evolved with the industry, expanding its scope and breadth of operations into other orthopedic disciplines.
THE CHALLENGE
After experiencing numerous organizational changes, the company wanted to build a stronger management infrastructure that would help support its ambitious growth goals and those of its customers. It also wanted to expand into foreign markets.
THE GOAL
Engaged in 2017 as the company’s strategic business advisor, Marcum’s goal was to provide our client with continuity as they worked through their organizational changes and help keep them on track to meet their growth goals.
THE PROCESS
In addition to engaging Marcum’s services for tax and accounting, our client looked to Marcum for advice and guidance on staffing, accounting outsourcing, and wealth management.
The manufacturer worked with Marcum to:
- Identify strong candidates for the company’s leadership team.
- Enhance its relationship with a bank partner.
- Serve as a sounding board during the company’s internal changes.
- Develop succession planning strategies and scenarios.
- Provide the company’s owners with personal financial plans.
Marcum’s professionals helped the company fill key positions on the leadership team and helped facilitate the transition. We also served in a critical capacity as outsourced CFO while the management transition was being completed.
THE SOLUTION
With the new leadership team in place, the company continues to grow, thrive, and look forward to new opportunities to further expand.