Companies

We partner with business owners and management

We have extensive experience partnering with and achieving fast results for  all types of organizations, including large privately held businesses, investor owned companies, small and mid-size family businesses, non-profits and start-ups.

What Chrysalis’s clients have in common is that they are all at a critical lifecycle inflection point characterized by opportunities that are hoped for but not yet defined, issues that are proving hard to manage, and a path forward that (whether from growth or from crisis) is full of uncertainty. Change is exciting and filled with hope, but it is also challenging. Chrysalis partners with organizations in the midst of change, or in need of change, to create value, identify opportunities, and implement action plans.

“Every inflection point in the lifecycle of a business is an opportunity for positive evolution and transformation if properly planned, managed and implemented.”

Case Studies

Situation:
A small, multi-location retailer needed assistance because, after a profitable 45 years, expenses had exceeded revenue, cash was tight, and the way it had always been done wasn’t working anymore.

Action:
Chrysalis was hired by the management to identify and implement opportunities for improvement. We identified and reduced overhead expenses, set up an inventory control system, and put a go-forward plan in place for the management

Results:
At the end of three months:

    • Inventory was down 30%
    • Payroll was down 13% with no reduction in service levels or store hours
    • Corporate overhead was reduced by 20% with no decrease in store benefits or support

The retailer returned to profitability that fiscal year, and within 3 years of continued improvements building upon the work we did together, had the best year they’d had in almost 50 years.

Midwest Biotech Turnaround and Interim Management

Situation:
Revenue plummeting from $52M to $25M during the last recession revealed a multitude of operating inefficiencies for this biotech company. Acquisitions had not been properly integrated, sales and operations did not coordinate, and the business development structure was dysfunctional. Operational controls were inadequate: project management, inventory, and the inability to forecast beyond 30 days led to continual cash shortages

Action:
Chrysalis completed a full assessment, prepared an 18 month base plan, developed an improvement plan to reverse projected $10M EBITDA loss. We implemented a project management and inventory management system, evaluated management, and restructured the organization. Additionally, we assumed management of the sales department for 3 quarters.

Results:

      • Identified $9.7M of savings in 6 weeks
      • Chrysalis was hired for implementation, and implemented the changes over 2 quarters. The plan was on track at the end of 3 quarters when we departed.
Situation:
An aerospace parts manufacturer, sole source supplier for many large aircraft builders, ran out of cash due to overly optimistic expansion followed by declining revenues. They had no cash to operate but a simple liquidation was not feasible: rigorous handling standards meant raw material and WIP could not be sold or transferred to another supplier and manufacturers needed at least two months to qualify a new supplier.

Action:
A hybrid plan was crafted to generate fast cash from a sale of non-inventory assets while operating with a very limited staff to complete the remaining material in the factory. Additional financing sourced from a DIP lender and accelerated customer payments.

Results:

      • The value of the assets were maximized via sale of finished goods sold at retail prices.
      • The cost of cleanup was greatly reduced by not having to remove raw material and WIP.
      • Claims from the aircraft builders were minimized because they received product.
Forensic Analysis: Hospital System

Situation:
A large hospital system discovered irregularities in their union payroll calculations and payments over a 15 year period. The organization needed help to assess the extent of the liability for every period for all 300+ union employees.

Action:
Chrysalis created a program to demonstrate, by period,by employee and cumulatively, what should have been paid in each period. We compared our results to determine the under/over-payment. We prepared a final report with detailed liability analyses by employee/by period for the General Counsel (GC) of the Hospital System.

Results:
Chrysalis identified $165K in payroll liability over 15 years from improper system calculations, which allowed the GC to manage the impact of the under-funding without litigation.

Contact Us

Boston: 393 Totten Pond Road, Suite 202, Waltham, MA 02451

New York: 135 Crossways Park Drive , Suite 402,Woodbury, NY, 11797

888.445.1062

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