Our client is the world’s leading producer of geosynthetic linings, a product used in the creation of plastic linings for landfills, mining applications and other end uses. Despite having emerged from bankruptcy with renewed strength and liquidity, the company was suffering fall-out effects in terms of how it was perceived by its suppliers and customers.
The company’s private equity owners recognized that they needed to make rapid and sustainable changes to the cost structure and asked Maine Pointe to deliver these changes by:
Given that the client had recently been through bankruptcy, which impaired the perception of its creditworthiness as well as its relationships with some suppliers, there was skepticism that Maine Pointe could help – especially as their direct materials (resins) were so specialized. Maine Pointe’s team first had to set about gaining the trust of client team members and rebuilding supplier relationships to identify the ‘quick wins’ that would drive immediate cash impact to the bottom line. More specifically Maine Pointe’s approach included:
The direct procurement model Maine Pointe implemented made it possible for our client to take control of both the cost and the quality of their product, resulting in:
Maine Pointe took us to a place we didn’t know we could get to, within the turn of a season they gave us what would have taken 3 or 4 years to achieve.” - CEO