Jonathan Petromelis

Experience

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  BDO USA, LLP

  Jan 1985 - Jan 1996

  Senior Manager

  Sixth largest international accounting and consulting firm.Responsible for financial statement audits, as well as corporate tax and financial services. Client base included private, closely held businesses and public and internationally based public companies, ranging in size from $1 million to $300 million in annual revenues. • Extensive experience in initial public offerings and assisting clients in various due diligence procedures.• Strong experience with development stage and start-up companies. Show less

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  Amesbury Group (subsidiary of publicly quoted Laird Group, plc.)

  Jan 1996 - Jan 2000

  Vice President-Finance and CFO
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  IBasis

  Jan 2000 - Jan 2002

  Vice President - Finance

  iBasis, Inc. consisted of three U.S. and ten international subsidiaries with over 500 employees involved in providing international voice and fax call completion services as well as other value-added services using the internet. Responsible for the financial operations of all 13 subsidiaries of iBasis, Inc. with revenues in excess of $150 million. Finance organization consisted of 3 controllers, 5 managers and approximately 17 staff. iBasis completed its IPO and subsequent offerings in 2000 and raised in excess of $500 million of funding.• Devised and deployed the international finance organization, hiring controllers and staff in Hong Kong and London.• Managed all aspects of the financial due diligence of a $125 million cash and stock acquisition of a voice recognition ASP. Involved in all phases of the integration process for this newly acquired subsidiary.• Initiated and implemented worldwide credit function establishing credit and collection procedures, hiring staff, and managing interaction with sales force and operations.• Responsible for treasury function including foreign currency management, audit and tax relationship, insurance and risk management.• Conceived, initiated and accomplished restructuring of largest vendor financed debt freeing approximately $30 million in additional cash flow. Show less

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  Amesbury (subsidiary of publicly quoted Tyman PLC)

  Jan 2002 - Jan 2014

  Amesbury consists of 13 locations in the US, Canada, Mexico, and China with over 2,000 employees involved in the manufacture of components used in the window and door industry. Manufacturing includes injection molding, zinc die-casting, powder painting, stamping, metal fabrication, various forms of extrusion, textile, assembly, in house tooling, and a Asian supply chain. A wholly owned subsidiary of Tyman, plc, based in London, UK.Responsible for Tyman, plc’s North American Operations trading as Amesbury with 2013 revenues of approximately $350 million. • Completed and integrated four strategic acquisitions leveraging the company’s continued growth in revenue, expansion into new markets and new products for customers. • Strategy culminated in the 2013 purchase of Truth Hardware for $200M, increasing Amesbury’s revenues by $135M and solidifying its position as a leading supplier for the industry’s top OEMs and distributors. • In response to the economic downturn in 2008, focused the company on cost reduction, closing four facilities and managing working capital effectively all while making strategic investments in engineering, product development and growth opportunities. • Conducted analysis of customer perceptions and preferences and formulated a multi-year strategy to evolve Amesbury from a holding company of many businesses to a single operating entity, improving sales, customer dynamics and profitability. • Reorganized the sales and manufacturing operations, positioning the company for improved relationships with the top 30 customers and increasing capabilities in providing customized and efficient product delivery.• Recognized the need to improve the organization’s technology infrastructure and launched an ongoing initiative to implement a state-of-the art ERP system. • Successfully fostered a corporate culture committed to innovation, employee engagement, and safe manufacturing methodologies resulting in a high morale workforce. Show less Responsible for all business development and financial operations for Amesbury Group’s North American business operations. CFO responsibilities included tax, treasury, internal and external auditing and IT operations. Direct reports consisted of four business unit Controllers and an overall finance organization of 25 FTEs.• Recruited back to the company in 2002 by the Laird Group CEO after serving a local high-tech company as Vice President of Finance.• Led the effort to achieve the divestiture of the Amesbury Group from its UK parent, the Laird Group, plc, to new ownership by Lupus Capital, plc. Lupus Capital was renamed Tyman, plc.• Designated by the senior management team to lead and manage all phases of the Group’s acquisition strategy. • Successfully completed the purchase and integration of five acquisitions resulting in doubling the size of the Amesbury Group. • Focused the finance organization on efficiently managing a rapidly growing business and achieved substantial cost reductions in areas including property tax reviews, travel expenses, and office supply and MRO vendor consolidation.• Hired outside consulting expertise to evaluate the IT organizations of the holding company and all acquisitions resulting in a multi-year blueprint to improve software, hardware and overall IT organizational support. Show less

  • President and CEO

    Jan 2008 - Jan 2014

  • Vice President - Business Development & Chief Financial Officer

    Jan 2002 - Jan 2008
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  H.I.G. Capital

  Jan 2015 - Jun 2017

  Advisor

  H.I.G Capital is a leading global private equity investment firm with more than $19B of capital under management. The H.I.G. family of funds includes private equity, growth equity, real estate, debt/credit, lending, and life sciences. The firm aligns with committed management teams and operating professionals and helps build businesses of significant value.

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  Salt Creek Capital

  Jan 2015 - Jun 2017

  Operating Partner

  Salt Creek Capital is a San Francisco Bay Area-based private equity firm that partners with talented operating executives to acquire profitable lower middle market businesses across the U.S.

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  Samtan Engineering Corporation

  Jun 2017 - May 2024

  President

  Samtan Engineering is a leading manufacturer of metal products primarily for the Defense-Shipbuilding, Aerospace and Commercial Industry. Manufacturing capabilities include metal stamping, deep draw, fabrication, welding and assembly.Led the successful sale of the business to Fairbanks Morse Defense, a $600 million portfolio company, of Arcline Investment Management. Completing post transaction integration.Created the strategy and transformed business from a local metal stamping operation to a leader, producing products for leading US Navy Shipbuilders and Aerospace Companies – General Dynamics – Electric Boat and Bath Iron Works, Newport News Shipbuilding, Austal USA, Ametek Aerospace, Senior Aerospace and Paradigm Precision. • Refocused business and company direction by building infrastructure including management team, production leadership, equipment investment, combined with establishing a strong financial base. • Accomplished double digit sales growth annually by leveraging strong customer relationships with exceptional performance resulting in the tripling of sales in less than 6 years.• Implemented lean focused improvements in manufacturing and upgraded safety program and culture.• Launched program to become AS9100D certified. Estimated completion in 2024.• Initiated program to become Level 3 CMMC Cybersecurity certified. Estimated completion in 2023.• Developing new products for existing industries served as well as new targeted sectors. • Successfully led company through 2020-2022 COVID-19 disruption with no closure or downtime. Show less