Our sherpa team of Area President
Forest Bookman and Fractional CFO
Ken Fruscella recently wrapped up a successful engagement with Brookes & Henderson, one of Ohio's top residential builders. We have been pleased to help our clients 'graduate' to a full-time CFO!
Ken began his work with Brookes and Henderson in June 2020. At that time, they were missing key processes and lacked strategic financial planning. Ken worked with their finance team to establish processes, internal controls, cash forecasting, budgeting, month-end close processes, and shored up many other areas. At the request of the client, we were able to provide an alternate banking relationship more suitable for their situation. With the new banking relationship going, the next step was to strengthen their balance sheet: we developed a strategy to add assets (buildings) to the company portfolio and also developed a trigger mechanism to discuss when and how to do owner distributions.
Ken was added to the company's advisory board in 2021 and is still a part of it today.
During our time working with Brookes and Henderson, the company has grown from $15 million a year to over $50 million in annual revenue; earlier this year, Ken sat down with the owners to discuss their need for a full-time CFO. While they initially offered Ken the job, he declined - suggesting that they bring someone in who could serve the business for a long time, and who would have fresh ideas to take them into the future. Ken provided support for interviewing and hiring the new CFO.
Ken Fruscella, our part-time CFO from FocusCFO, transformed our financial landscape. Our reporting was once fractured, but Ken's expertise and dedication brought clarity to our financials. He engaged with stakeholders, fostered employee development, and instilled financial ownership. Thanks to his foundation, we now have a full-time CFO, because we understand the benefits of financial oversight in a way we did not before. We highly recommend hiring a fractional CFO from FocusCFO, for any company without one."
Chris Brookes, Brookes & Henderson Building Co.
It was an equally wonderful experience for Ken, who shares, "Together, we successfully transformed the company, elevating its financial department to a professional standard. We equipped the owners with the essential tools and knowledge needed to not only grow the business but also to strategically prepare it for a successful exit in the future. In many ways, Brookes & Henderson has 'graduated' from FocusCFO, serving as an exceptional example of our mission with clients, building sustainable, transferable value."
"My experience with them has been awesome, both professionally and personally. They are well positioned now financially and operationally to move forward with the new CFO."