Dedicated to Client Success
At Mowery & Schoenfeld, there’s nothing better than helping our clients succeed—and through decades of experience with a variety of businesses, we’ve been privileged to make that happen time and time again. Previous clients testify to the meaningful contributions Mowery & Schoenfeld made to their business success.
Aspen Valley, a client of MSLLC since 1996, accredits us for helping them meet their business goals through improved financial reporting and the implementation of a new accounting system.
The Only Thing Growing is the Business
Aspen Valley Landscape Supply is a leading supplier to the landscape industry. The company is a distributor of hard materials. These products, including paving blocks, decorative stone and mulch, are used by landscape contractors as an integral part of their construction projects. The paradox is that the company does not sell plant material of any kind - none of its products actually grow.
Going beyond the traditional role played by a CPA firm, MSLLC provides additional value for Caring Communities through on-going, report-based consultation about the company’s financial and tax options.
Breaking the Mold
When a group of retirement communities found common ground in their need for affordable insurance and their commitment to sharing best practices, they decided to combine efforts.
The result was Caring Communities Shared Services, an innovative company built around supporting this group’s spirit of cooperation.
CCSS, led by President Jim Caldwell and headquartered in Libertyville, Ill., manages daily operations of the 26-member group, helping it find and maintain responsible insurance and share best practices for risk management at retirement communities across the country.
“This company is a great example of people who recognized the power of a shared need and made it work to the benefit of their communities and residents,” Jim said. “Our mission as its management team is to help that membership stay centered and identify new opportunities to improve their everyday environments.” Knowing their focus needs to stay on the membership’s goals, CCSS executives turned to the resources of Mowery & Schoenfeld for an accounting support system that would streamline daily operations, and take the company’s financial responsibilities one step further.
“Because we are always trying to improve our members’ communities, we needed a well-rounded accounting firm that answered our daily needs, and also had the expertise to be forward-looking; to help us evaluate and report on financial scenarios that might impact our membership,” Jim said.
CCSS was a chance for Mowery & Schoenfeld to demonstrate its adaptability by taking on the traditional accounting role of accounts payable, receivables and budgets; but also provide on-going, report-based consultation about the company’s financial and tax options.
The result has been a close partnership; one that draws on the specialized focus of many accountants on the Mowery & Schoenfeld team and gives CCSS peace of mind.
At Mowery & Schoenfeld, we respect companies like Caring Communities Shared Services for their innovation and creativity. Our goal is to serve as a partner, regardless of circumstance; to find answers for common needs. That’s why we were honored to hear Jim say, “When we needed a firm that understood the complex nature of this cooperative and could step in quickly with support, Mowery & Schoenfeld was right there.
“They are involved in our business every day, and they’ve never let us down.” We look forward to a long legacy of support for their spirit of cooperation.
We look forward to a long legacy of support for their spirit of cooperation.
MSLLC assisted Focus Equity, a PE firm and owners of C&M Pharmacy, with realigning all financial controls, implementing new reporting measures and improving tax management at the pharmacy. Using MSLLC as an outsourced CFO, C&M was successfully sold to a division of Walgreens Co.
Believing in Possibility
For Focus Equity Partners, the new owners of C&M Pharmacy, turning this struggling business into a thriving enterprise required a little optimism - from all side.
The principals in the Oak Brook-based private-equity firm saw potential in getting involved in the business, if an aggressive financial and management plan could be executed quickly. They purchased controlling interest in C&M Pharmacy, a specialty pharmacy serving people with HIV and AIDS, in September 2004 with the idea of building a valuable company. This group of seasoned entrepreneurs, each with an impressive history of investing in, managing and selling successful companies, knew it needed a proven accounting firm to help with its financial planning and management.
“We saw this business as a necessity in the HIV/AIDS community – a place where people could turn for specialty pharmaceuticals and one-on-one help – and an exciting challenge for us,” David Duerr, a principal with Focus, said. “Our first step was to find the best resources to make it happen."
The accounting portion of Focus Equity Partners’ action plan called for realignment of all financial controls, new reporting measures and tax management. They turned to Mowery & Schoenfeld to create a well-rounded, systematic approach.
“Every financial element of this company needed examination and a plan to turn it around,” Mowery & Schoenfeld partner Keith Schoenfeld said. “C&M Pharmacy was an opportunity for us to show our adaptability and flexibility, even in the most challenging business scenarios."
Focus Equity Partners hired the team as an outsourced chief financial officer. Along the way, it developed new financial controls, revised budgets, tax plans and financial reporting. Within 22 months, the result was unmistakable: C&M Pharmacy was a fine-tuned business machine, functioning as a value-added specialty pharmacy and a profitable investment. In June of 2006, Focus Equity Partners successfully sold the business to Walgreens Heath Services, a division of Walgreens Co.
Seeing the potential in this dynamic underdog story makes us admire Focus Equity Partners’ vision and optimism. It was a great pleasure to hear Focus Principal and acting CEO Michael Cahr say: “Without the hard work and perseverance of everyone at Mowery & Schoenfeld, we could not have realized the success we did. They played a critical role in rebuilding its success."
We look forward to participating in Focus Equity Partners’ next business opportunity!
Connelly engaged MSLLC to help improve cash management. This partnership grew into MSLLC helping Connelly integrate new job costing and estimating accounting software, providing strategic accounting and tax planning advice and assisting in closing the monthly books.
Wired for Growth!
Connelly Electric, Inc. was founded in 1979 by William T. Connelly, Sr. Like so many other family businesses, the initial operations were conducted from the basement of his home, where he and his two oldest sons William, Jr. and Joseph contracted with general contractors to perform electrical services for commercial and residential builders. William’s wife Patricia Connelly kept the books, paid the bills and handled the payroll. Through sheer hard work and determination, and a commitment to developing long-lasting relationships, the business was a success.
MSLLC helps Digital Check, the leading provider of check-scanning equipment, improve inventory controls, long-term cash-flow analysis, quarterly consolidated financial statements and year-end tax preparation. They have been a client since 1999.
Meeting and Exceeding the Demands of Business
Embracing change in business requires strategy, flexibility and vision. It means an uncompromising commitment to quality and revolutionary product development. Digital Check Corporation embodies those critical ideals, and has cemented its place as an industry leader by continuing to offer the best equipment with the highest level of service.
Started in 1959 by Thomas Anderson Sr. as Microseal Corporation, the company successfully transitioned to the leadership of his son, Thomas Anderson Jr., in the 1980s, and became Digital Check Corporation. Now the world’s leading provider of check-scanning equipment for the international banking and financial markets, Digital Check Corporation operates manufacturing facilities in Europe and the U.S., including a state-of-the-art assembly plant in Rancho Cucamonga, Calif. Products are marketed through a growing list of channel partners, including Eastman Kodak Company, Bell & Howell, NCR and European-based Agfa. The company, headquartered in Northfield, Ill., also provides the Gideon Library Research Reader to the worldwide library and reference marketplace through its ST Imaging Division.
“We are in the mainstream of the greatest period of change the financial world has ever seen,” Digital
Check Corporation President Tom Anderson said. Mowery & Schoenfeld admires Digital Check Corporation's relentless pursuit of continuous improvement, and is very proud of its relationship with Tom Anderson and the company. We were honored to hear Tom Anderson say, “Mowery & Schoenfeld definitely has exceeded our expectations in the last six years. The team has eagerly met our growing need for expanded accounting services and taken a keen interest in Digital Check Corporation. They have assisted us in improving inventory controls, long-term cash-flow analysis, quarterly consolidated financial statements and year-end tax preparation. “We consider them a partner in business and a top choice to help us continue our success.”
Working closely together since 2002, MSLLC helps Elliot Homebuilders continually improve its financial reporting and income-tax planning, as well as helping the family define its overall business goals.
Dreams Turn a House Into a Home
Elliott Homebuilders believes there is a big difference between simply building a house, and creating a home. Part of the challenge – and reward – is discovering what special touch will turn those sticks and bricks into a personal sanctuary for its new owner.
Founded by Lou Elliott more than four decades ago, Elliott Homebuilders is well known throughout the Chicago area for its premium single- and multi-family homes. In the past 40 years, the company has grown like the classic family business, with Lou now serving as chairman, and his son, Mark, as president. His son, Jon, is the director of field operations, and Lou’s wife, Helen, is the company’s design director. Its current endeavors include developments in Morton Grove, Glenview, Vernon Hills and Libertyville, Ill. EHI builds luxury custom and mid-priced semi-custom homes, as well developing an expertise in highly tailored housing at production prices, including multi-family settings.
Elliott Homebuilders was referred to Mowery & Schoenfeld in 2002 by Albert H. Wohlers, a valued client of the firm and an equity investor in EHI Partnerships. “Of all the great things that Al Wohlers has done for us, the best thing was to introduce us to Mowery & Schoenfeld,” Lou Elliott said.
Jeff Mowery, Tom Keenan and Anthony Cullotta have worked closely with the company to improve its financial reporting and income-tax planning, as well as helping the family define its overall business goals. Mowery & Schoenfeld respects the team at Elliott Homebuilders because they so clearly understand a great home-buying experience goes beyond the quality, service and design.
Lou Elliott is noted for saying, “It is by incorporating a customer's own ideas, personalities and dreams that a house becomes a home.” Elliott Homebuilders operates today with a consistent goal in mind: to provide well-located, high-quality, customized homes at reasonable prices. This approach has become the cornerstone of Elliott Homebuilders’ success and remains the foundation on which the company continues to build its reputation.
Working as a strategic advisor to Klehm Ornamentals since 1997, MSLLC helps owner Kit Klehm grow his business and successfully fill a market under-served by national nursery producers and poorly served by small local growers.
Teamwork Thrives at Klehm Ornamentals
"It all started with a greenhouse." That's how Kit Klehm, one of four owners of the newly formed Klehm Ornamentals, describes the beginning of the business that is expected to top $4 million in revenue in its second year. "I ran across a 60,000 square-foot greenhouse that was for sale, and I saw an opportunity," he grins, "an opportunity to build a business and a team.
MSLLC is deeply connected with Modern Business Technology as consultants and accountants. Founder, “[MSLLC] provides insight and advice that helps us make the right decisions.”
Today's Strategies Succeed at Modern Business Technology
Not long after Scott Spear and Paul Weinewuth met in their first job out of college, they realized they had the same dream: to own their own technology-related business. Before long the two were strategically setting their career paths with a common goal of one day starting their own business.
Since 2001, MSLLC has served as primary business and financial consultants for Progressive Components, an international tooling manufacturer. We assist in their overseas expansion, finance and loan structuring, acquisitions and ongoing business development and strategic initiatives.
From Global Launch to Global Ascendancy
Getting in on the overseas manufacturing market is not enough for Progressive Components International Corporation.
This forward-looking company and its dedicated management team, led by Glenn and Don Starkey, is climbing to the top of the tooling industry — on a global scale.
With leadership that not only recognizes best practices, but has the dedication to live them, Progressive Components has risen above seismic changes in U.S. manufacturing. It has become a global trend-setter by establishing a vast distribution channel throughout the United States, Asia and Europe to consistently deliver its expanding product line and maintain its stability.
The company’s global ascendancy is due, in large part, to the Starkeys’ unwavering commitment to best practices in business, which has been demonstrated repeatedly throughout the company’s incredible history. In 2004, Glenn moved his family to Asia to head Progressive Components’ operations there, and since then, has expanded the company’s market share and product-development opportunities significantly.
“We are driven to a lead position in our industry by our ‘Best in Class’ model,” Glenn said. “For us, it’s an invaluable guide to achieving our strategic goals and outperforming our competition."
The Starkey brothers acquired Progressive Components from their father, Don, Sr., in 1990. Together, the Starkeys and their team have avoided many of the pitfalls that eliminated much of Progressive Components’ competition. In 2006, the company purchased Roehr Tool Corporation and with it, a “collapsible core” product line. The transaction was a huge win for Progressive Components. Don Starkey, Jr., who played a pivotal role in the Roehr acquisition, assumed additional responsibilities as president of the new subsidiary.
With globalization as a driving force in the business plan, Glenn and Don needed financial consultants who could keep pace with their aggressive strategy, and most importantly, recognize opportunities for the company to continue expanding overseas.
Mowery & Schoenfeld started working with Progressive Components in 2001, and since then, has actively served as primary business and financial consultants to the Starkey team. We assisted in the corporate reorganization to accommodate their expanding international operations; offered financial consultation in the structuring of their corporate finance and loan agreements; consulted on the acquisition of Roehr Tool Corporation and its product line; and provided a range of ongoing business development and strategic initiatives.
We see this company’s drive to continually improve and willingness to adapt as key factors in its success. That’s why we were honored when Glenn Starkey said, “We consider our partnership with Mowery & Schoenfeld as one of our best practices. Their insights and attention to detail help us stay focused and grow with confidence."
His brother, Don, agreed, adding, “The contributions of Mowery & Schoenfeld to our personal and professional success show how much they really care about our company and us.
“It’s a sincerity and commitment that far exceeds what you’d find at other professional service firms."
MSLLC partnered with Traditional Concepts’ Past-President Ted Brown to implement solid accounting practices to help grow and eventually sell the award-winning remodeling business. “They were there throughout my growth and helped me tremendously when it was time to take the next step.”
Building New Traditions for Successful Business
Solid business planning and long-term strategic development cemented Ted Brown’s success in the remodeling industry. Traditional Concepts Inc. quickly flourished from a small start-up into a powerhouse of profit and productivity using a systematic approach that supported clients and the team that served them.
“We turned a lot of growing pains into opportunities for improvement,” said Ted, who opened the doors of the Lake Bluff, IL, company in 1985 with one support-staff member. “We looked at every area of the business and tried to develop processes that simplified the scope and specifications of each job."
Ironically to create this useful system, Ted was forced to break from “traditional concepts” and end an age-old industry practice within his own four walls. He stopped the passage of policies, procedures and expectations via word-of-mouth, and instead wrote them down into practical points of reference so each team member could understand what was expected of them and where the company was headed.
“We recognized that, at some point, the messages we were sending out just weren’t making it to the team, and that was impacting the customer,” Ted explained. “When our team could see actual documents, instructions and details, our job accuracy and customer satisfaction went through the roof."
Traditional Concepts grew from two employees to a staff of more than 23 and annual revenues of $5 million by 2003. Ted opted to sell the company in 2004 when a solid offer was made.
Ted's focus on process improvement and relationship-building also won Traditional Concepts industry accolades and national acclaim. In 2000, the National Association of Home Builders honored them with its coveted National Remodeling Quality Award. They called the company’s operations manual a “benchmark quality practice,” and have made it the center of their process-improvement research.
Breaking from tradition and forging new standards in business are just two reasons why Mowery & Schoenfeld admires Ted Brown and his bold approach to business. We were an eager partner in the growth of his company, and were honored to hear him say, “Without solid accounting practices, many of our process improvements would not have worked,” Ted said. “I felt like the team at Mowery & Schoenfeld understood where I was headed and supported everything I tried to institute at Traditional Concepts.
“They were there throughout my growth and helped me tremendously when it was time to take the next step,” he added.
Mowery & Schoenfeld has been an enthusiastic supporter of Ted Brown’s success for more than 15 years, and we look forward to the innovations he’ll continue to make throughout his career.
