MARYLAND HEIGHTS, Mo., Sept. 22, 2017 /PRNewswire/ -- After over eight years at Katy Industries as CEO and more than 20 years in senior management positions, David Feldman is utilizing his many years of success in establishing DJF Enterprises, LLC a consulting/management company.
David Feldman's success at Katy Industries included turning the business from a loss to profitability through strategic restructuring and acquisitions. Feldman focused the company on janitorial and retail storage products to improve business operations.
In 2011, Feldman was able to retire all of Katy Industries long-term debts as well as give much-needed cash for capital investment.
Two events simultaneously helped put the company on a much-improved financial footing; first was divesting the DISCO division of CCP for proceeds of $19 million and second was entering into a new credit agreement with the Private Bank and Trust Company, which provided the company greater flexibility as the path of profitability became more and more apparent.
Feldman also continued to emphasize on four core concepts designed to improve customer satisfaction and maximize shareholder value: Customer Focus, Niche Market Mindset, Operational Excellence, and Focus on Cash. He also was excited to report improvements in Katy's plastic manufacturing were also achieved, reducing labor costs and significantly improving their schedule attainment rates.
That trend continued for David Feldman and Katy Industries in 2012. During that year, they were able to invest in the future through the introduction of new products. At the end of the year, Feldman was proud that Katy finished the year with the lowest debt level in some time.
Katy Industries successfully completed the integration of their Fort Wayne Plastics acquisition in 2014, which is based in Fort Wayne, Indiana. The additional structural foam capacity provided support for the growth plans for Katy and provided a wider platform for contract manufacturing.
With the acquisition of Fort Wayne Plastics, the successful branding programs and the placement of new items, Feldman was proud to announce a 27.3 percent increase in sales growth vs. prior year and $2.5 million net income.
The year 2015 saw Katy Industries' second consecutive year of double-digit sales growth, which was realized through the commitment to brand recognition, expansion of sales, and strategic acquisitions.
Katy acquired and integrated the assets of an Ohio-based injection molding manufacturing facility and its existing home storage product lines. This addition strengthened their position as a premier supplier into the $9.4 billion home storage market.
While these initiatives took a significant amount of investment, Katy achieved an operating income improvement of $2.6 million and a sales increase of 14.3 percent.
Feldman expects to utilize his experience as CEO of Katy, as well as his time as President of Airserv and President of Cooper Lighting, to bring consulting expertise to businesses in many industrial industries, including plastics and electrical.
Currently, he has been working with a number of startups through Thayer Carver and is the CEO of Shelves West, a plastics molding manufacturer serving the retail industry.
Press Contact: Eric Blankenship 786-332-6554
SOURCE DJF Enterprises