About Pietro Bersani
Pietro is a high-energy CFO, with 20+ years of expertise in publicly and privately-owned companies, specializing in value creation, cash optimization, and financial management. As a CFO, Pietro drives numbers to maximize owners’ value. Here are a few examples:
- A manufacturing company had cash conversion cycle issues while experiencing an industry-wide decrease in revenue: Pietro more than doubled from $10.4M to $21.6M its operating cash flow.
- Charter operator – Aircraft cost of ownership and cost of guaranteed access to private aircraft have been cash burners and going-concern killers: Pietro has developed an innovative business model turning Part 135 operator’s EBITDA into a positive and lining up private investors for further growth.
- A company producing components for industrial and automotive applications needed resources to fund working capital and growth: Pietro secured credit facility increases of $7M and $10M.
- A private aviation venture experienced sales that were not ramping up: Pietro developed a business model providing real-time access to private jets by replacing the middlemen (brokers) while providing 25% to 75% cheaper private flights.
- Complex M&A transaction: Pietro structured and led a merger transaction that resulted in a combined equity value of $351 million. In 12 months after the merger the stock price has appreciated by nearly 155%.
Pietro focuses on what keeps business owners and CEOs up at night: cash, EBITDA, operational effectiveness, and cost reduction initiatives.
Pietro has multicultural experience and international exposure (North America, Europe, and South America) with a proven ability to see the big picture and help business owners understand and manage complexity. He is a quick learner, with a fact-based approach, and is able to synthesize complex information. He has a high level of conceptual, analytical, judgment, negotiation, and decision-making skills.
When getting to know a new client, Pietro initially focuses on three main areas (the three “Ps”):
Understanding clients’ three “P” parameters is an essential step to effectively help business owners and CEOs in the areas where Pietro excels:
- Increase profitability and value
- Shorten cash conversion cycle
- Implement effective and efficient cash projection tools
- Understand short, medium, and long-term cash implications of business decisions
- Short-term financing
- Develop and implement management reporting tools to help decision making and planning
- Set up KPIs to help management focus on what really matters and drives profitability
- Risk management
- Designing and executing due diligence procedures, either buy-side or sell-side, for M&A and exit strategy
- Leading M&A transactions
Here is a sample of some engagements he has worked on:
- CFO and Business Transition Services
- Improved company’s cash flow.
- Business modes analysis and performance improvement.
- Negotiated and secured credit facility increases.
- Helped business owner develop strategic plan to capture growth opportunities in key geographies.
- Led M&A transactions.
- Led due diligence, negotiated with US public corporation, and closed on acquisition that provided access to leading technology to expand business.
- Developed management accounting, KPIs, and analytics; tailored local management reporting to help business leadership with no finance background understanding the EBITDA implications of their day-by-day decisions.
- Overhead allocation.
- Renegotiated terms and conditions with key suppliers and Tier 1 professional service providers to parent holding company of a manufacturing group.
- Designed financial policy and treasury function for a US and European group.
- Assisted CEO in restructuring organization to align it with strategic objectives, including process to identify high performers and underperformers.
- Ran finance and accounting departments, directly overviewing CAO, director of financial reporting and director of compliance.
- IPO of charter airline.
- Led the selection process of new IT VAR and IT providers.
- Risk management and compliance program implementation.
Pietro has held leadership roles across industry sectors, including manufacturing, consumer products, aviation, technology, media and telecommunications, pharmaceuticals, software licensing, and rail transportation.
Prior to joining B2B CFO Pietro has worked in the private equity performance improvement practice of a Tier 1 consulting company serving portfolio companies owned by private equity firms. Services were across the investment lifecycle, from due diligence acquisition and performance improvement to exit support.
As Founder and President of a boutique consulting firm specialized in aviation, Pietro developed innovative business models fixing aircraft cost of ownership issues and eliminating industry’s lack of efficiency in the booking process. He also helped in the transformation of a “full service” or “legacy” carrier business model of a startup airline into an ULC (Ultra Low Cost) business model. Pietro also selected US aviation investors specialized in ULC model and negotiated terms and conditions for an equity investment in the startup.
Previously, Pietro worked as financial executive and CFO of private and public companies. For six years he was CFO of a public company traded at NASDAQ, which was the global leader in manufacturing alternative fuel systems for transportation, industrial, and refueling applications, with a global distribution network of distributors and dealers in 60+ countries and 170+ OEMs. Pietro led the merger of the company with another public company listed on NASDAQ and TMX stock exchanges.
Previously, Pietro was a Senior Manager at Deloitte where he worked with a variety of clients across different industries, leading local and cross-border engagements, including a large client IPO. He was a member of the National Risk Management Team. He later transferred to New York and led the development and updating of Deloitte’s audit manuals. He managed the content development of the risk management system used by Deloitte member firms across the world. He began his career with Arthur Andersen S.p.A. later merged with Deloitte & Touche S.p.A.
M.A. and B.A. in Economics and Business Administration, Università Commerciale “L. Bocconi”, Milan (Italy)
Certificates & Licenses:
Certified Public Accountant (CPA – New Hampshire) and member of AICPA
Chartered Global Management Accountant (CGMA)
Italian Chartered Public Auditor
Italian Chartered Public Accountant
Italian & US Private Pilot Licenses & IFR Qualified
Certified Freediving Instructor and Certified Scuba Diver
American Red Cross First Aid & CPR – AED
Member of National Business Aviation Association (NBAA)