1. Jerry L. Kegley, CPA
1113 Travis Court, Southlake, Texas 76092
kegleyjerry@gmail.com Cell: (972) 740-7065
SUMMARY OF QUALIFICATIONS
Mergers & Acquisitions JSOX & IFRS Implementation Strategic Planning
Due Diligence Systems Implementation Change Management
Debt & Bond Road Shows Restructuring Treasury/Cash Management
Multi-location Process Improvement Budgeting/Forecasting
Rating Agency Presentations Reporting: External/Internal Manufacturing/Costing
PROFESSIONAL EXPERIENCE
PRIMESOURCE BUILDING PRODUCTS, INC. – Irving, Texas 1999 – Present
Private distributor of building materials to retailers & wholesalers, $1.4 billion in annual revenue
Senior Vice President & CFO
Member of core executive team that drove revenue growth by over 100% and increased EBITDA in
excess of 500% since 1999. PrimeSource, a subsidiary of ITOCHU, has 42 distribution centers,
1,400 employees and total assets of $800 million. Led a staff of 60.
In addition to my PrimeSource duties, from August 2010 to December 2014, I was the SVP & CFO
for Master-Halco (MH), a fencing manufacturer & distributor that is a separate subsidiary of
ITOCHU. MH had sales of $350 million, total assets of $200 million, 65 distribution centers and
650 employees. Directed a staff of 35.
Significant accomplishments included:
Working with our Co-CEO’s, led the Company’s efforts to successfully auction and close the
sale of PrimeSource to a PE firm in May 2015. This included:
Preparing detailed long-range financial projections
Leading the effort to prepare and collect buyer diligence information
Playing a key role in Fireside Chats and Management Presentations to prospective buyers,
rating agency presentations to S&P and Moody’s, presentations to ABL and senior lenders
as well as potential bond holders
Raising over $850 million of debt with favorable terms to finance the acquisition
Integral part of a cohesive management team that was responsible for doubling sales and
increasing profitability by more than five times since 1999.
Separate from the May acquisition, raised over $300 million in debt to fund acquisitions and
working capital needs. This included asset-based, cash flow and accounts receivable
securitization facilities.
Drove the Company’s M&A activities. Directed efforts to acquire several companies that
increased annual sales by $300 million. Responsible for initial contact with sellers, contract
negotiations, due diligence, disposition of excess real estate and integration efforts.
Implemented program to successfully comply with IFRS and the Japanese version of U.S.
SOX.
Restructured MH Finance/Accounting function and key member of team that let a successful
turnaround effort at MH.
2. Jerry L. Kegley, CPA Page 2
GS ROOFING PRODUCTS, COMPANY, INC. – Irving, Texas 1994 – 1999
Private manufacturer of roofing products with annual sales of $300 million
Vice President & Chief Financial Officer
Key member of senior leadership team that restructured the Accounting/Finance, Customer
Service and Product Liability departments and led to successful liquidity event. Directed a staff of
35.
Significant achievements included:
Negotiated $80 million credit facility that generated annual interest savings of $600,000.
Working with the CEO, developed revised performance measures for all GS plants and
products. This process identified $20 million of annual cost reduction opportunities by focusing
on raw material usage, labor costs, waste, line speeds, downtime, slowtime and plant
overhead. Approximately $5 million of annual savings were achieved by 12/31/98.
Project leader that implemented the SAP Enterprise Resource Planning (ERP) system at 12
GS plants and seven warehouses in eight months. The project, which was completed on time
and within the cost budget, delivered greatly improved system functionality and cost savings.
Directed upgrade to data communications network with faster response times and improved
reliability. Negotiated contract for voice and data communication networks that generated
annual savings of $175,000.
Implemented formal Quality Improvement Program within GS administrative functions. This
program was responsible for repositioning the Customer Service Department as the most
effective in the industry.
H.J. HEINZ CO. and AFFILIATES 1984 - 1994
STAR-KIST FOODS, INC.
Multi-national manufacturer of seafood and pet food products with annual sales of $1.2 billion
General Manager – Controller & Treasurer of Star-Kist Foods – Newport, KY (1992 to 1994)
Controller of Seafood Division – Long Beach, CA (1989 to 1992)
As Controller, directed all accounting, financial reporting and internal control matters of Star-Kist.
Directed a staff of 35 professionals.
As Treasurer, oversaw management of Star-Kist’s production-oriented accounting departments.
This included credit, billing, accounts receivable, accounts payable, payroll, insurance and
banking. Supervised a staff of 40.
Significant achievements included:
Planned and executed the consolidation of two separate Star-Kist Finance divisions, including
the relocation of the Seafood Finance Division from Long Beach, CA to Newport, KY. The
consolidation reduced staffing by 33%, while maintaining necessary accounting and reporting
standards and delivering required customer service. The Finance reductions were a significant
portion of the $7 million reduction in annual Star-Kist G&A costs.
Developed and implemented action plans to reduce working capital. Changes included
streamlined invoicing, more proactive accounts receivable management, improved monitoring
of bank balances and increased scrutiny over vendor payments. These improvements reduced
working capital by $15 million with annual interest savings of $900,000.
3. Jerry L. Kegley, CPA Page 3
STAR-KIST FOODS, INC. – continued
In 1990, implemented the first Finance Quality Improvement Plan within Star-Kist. Thereafter,
the Finance Division was a leader in the Company’s Total Quality Management efforts.
Through the continual application of quality techniques, Finance achieved a 1/3 reduction in
monthly reporting cycle times and improved process flows in inventory control, receivable
management and customer invoicing.
Directed Star-Kist participation in H.J. Heinz payroll review that was responsible for negotiating,
planning and implementing payroll outsourcing for Star-Kist and other Heinz affiliates. This
outsourcing generated annual savings for Heinz in excess of $500,000.
Led Customer Accounting Quality Improvement Team that was responsible for improving
collections of disallowed customer deductions by $2.3 million annually. The team also received
the Star-Kist President’s Quality Award in 1994.
Manager Corporate Audit - Pacific Region – Long Beach, CA(1987 to 1989)
Developed and executed internal audit programs for affiliates of Star-Kist Foods, Inc., Heinz Japan,
and Heinz UFE (Chinese joint venture). Primary role was to reestablish the Department’s
credibility with Star-Kist management. This was accomplished by restaffing the Department,
instituting training programs and working with management to understand and resolve various
business and internal control issues. Hired, trained and supervised a staff of five professionals.
Senior Auditor - Western Region – Boise, ID (1985 to 1987)
Auditor - Western Region (1984 – 1985)
Performed financial and operational audits for Ore-Ida Foods, Weight Watcher Foods, the
Hubinger Company, Heinz Japan and Heinz UFE. Responsible for planning, developing audit
programs, completing audit work, supervising staff and oral/written communication of findings to
senior management.
YANKE MACHINE SHOP & AFFILIATES - Boise, ID 1983 - 1984
Private manufacturer and fabricator with annual sales of $100 million
Assistant Controller for Machine Shop and acting controller for 17 other affiliated companies.
Prepared and analyzed financial statements, completed corporation and partnership tax returns for
all affiliated companies and monitored Company health insurance and pension plans.
ARTHUR ANDERSEN & CO. - Boise, ID 1980 - 1983
Large national public accounting firm
Senior Accountant responsible for planning and supervising financial statement audits. Prepared
financial statements and footnotes, supervised filings and registrations with the SEC, performed
internal control reviews and supervised one to three staff accountants. Client experience included
manufacturing, mining, retail and wholesale operations, employee benefit plans and not-for-profit
organizations.
EDUCATION/CERTIFICATION/AWARDS
BS in Business Administration (Accounting) - high honors 1980
University of Montana, Missoula, Montana
Heinz President’s Award 1994
Texas Certified Public Accountant – current license
Member - American Institute of Certified Public Accountants