Richard F. (Dick) Ray, CPA/ABV CFFA
Summary
Mr. Ray has twenty years experience as Chief Financial Officer on full time and project bases for companies ranging in revenue from $5 million to $450 million, including manufacturing and healthcare related entities. His experience includes all aspects in closing 15 M&A transactions totaling $950 million cumulative value across a variety of industries. Mr. Ray’s litigation support services include Chapter 11 Trustee, Chapter 11 Debtor in Possession, business valuation, lost profits and personal economic damages cases. He holds the AICPA accreditation in Business Valuation, and is a Certified Forensic Financial Analyst, with emphasis in Financial Litigation. Mr. Ray’s experience includes seven years with the accounting firm PriceWaterhouse Coopers. He is a member of the American Institute of CPA’s and the Forensic & Valuation Services Division.
Education
· Masters of Accountancy, University of Tennessee
· BS Economics, East Tennessee State University
Certification
· Certified Public Accountant
· Accredited in Business Valuation, AICPA
· Certified Forensic Financial Analyst, NACVA
Industry Experience
· Healthcare: laboratories, pharmacy, clinical trials.
· Manufacturing: process manufacturing, building materials, pharmaceutical.
· Contract services.
Areas of Specialization
· Executive Financial Management / CFO
· Distressed business / Turnaround / Organization
· Recapitalization / Institutional equity
· Mergers and acquisitions / Integration
· Business valuation / Economic damages
· Expert Witness
Recent Projects
CFO Services for emerging businesses in healthcare sectors seeking debt, equity, institution capital or exit to a strategic buyer. Typical process involves strategic and financial situation analysis, refine business plan, financial discipline to the business, roadshow, negotiation and closing. Work closely with CEO and Board of Directors. Projects average 18 months, part time basis.
Valuation Services for 12 engagements or projects involving enterprise, equity of intangible asset valuations including expert witness and consulting engagements.
Litigation Services for lost profits and personal economic damages, plaintiff and defense, as expert witness and consulting engagements.
Bankruptcy Services / Chapter 11 Trustee for a combined $5 million annual revenue network of sole proprietorships, involved in the tobacco industry. Chapter 11 Debtor in Possession CFO requiring turnaround of a $1 million/month loss joint venture enterprise owned by a hospital system. Restructured the company to positive cash flow within six months. The company returned to its core strengths and markets, implemented tight cash management processes and achieved operational and administrative process improvements. Gained extensive bankruptcy experience including initial filings, claims negotiations, DIP financing, business sale, related plans, distributions, deposition and testimony.
USA Division CFO of a UK Publically held company, responsible for $450 million / five strategic business units. Rollup of industry leader in the USA, resulting in $1 billion in closed deals, buy and sell side.
Audit Manager, PriceWaterhouse Coopers: Clients in process manufacturing, retail, services, not for profit.
College Instructor, Graduate teaching assistant, cost accounting, University of Tennessee. Adjunct professor, Tusculum College.
Contact
· rray@triafin.com
· rfr@tsiadvisors.com
C: 423.426.3449 