Daniel Brosious specializes in providing financial and operational advisory services including restructuring and bankruptcy strategy; interim management; liquidity improvement; cash management and analysis; operational and financial control review; financial forecasting; capital structure optimization; and M&A transactions.
Mr. Brosious’ industry experience includes mining, real estate, manufacturing, home fitness, financial services, technology, restaurant, oil & gas, consumer electronics, gaming and media, among others.
Previously, Mr. Brosious was appointed as Chief Restructuring Officer (“CRO”) of Midway Gold, a public gold mining company, where he fulfilled many of the Chief Financial Officer (“CFO”) duties after the termination of the CFO, including management of treasury and accounting departments and implementation of various liquidity improvement initiatives. He also assisted in the sale of the company’s assets and preparation of a plan of liquidation.
After the carve-out of an ethanol and gluten division, Mr. Brosious assisted the new company to “stand-up” its accounting and finance function. This included management of the treasury and accounting departments, review and approval of disbursements until a full-time CFO was hired, design and implementation of short-term cash forecasts, long-term budgets and board reporting packages.
Prior to joining FTI Consulting, Mr. Brosious worked as a corporate accountant and internal auditor for The Mills Corporation, a public real estate investment trust. While at The Mills Corporation, Mr. Brosious assisted with the restatement of 10 years of financial statements, the development and testing of Sarbanes Oxley 404 compliance procedures and the implementation of a SOX software application.
- Guided a furniture manufacturer through its bankruptcy proceedings, including cash management, working capital improvement, overhaul of its bidding procedures and assisted in its sale process.
- Provided financial advisory services to a value-added reseller of computer hardware, including working capital improvement, cash flow forecasting, vendor management and merger integration.
- Managed the cash forecast of a coal company with $600 million in revenues; provided advice in financing negotiations, assistance in its sale process and transition of mines to new buyers.
- Designed and implemented short and medium-term cash forecasts and identified liquidity enhancement initiatives of $50 million for a copper and molybdenum company to ensure the company maintained appropriate liquidity levels, analyzed various capital alternatives and streamlined the due diligence process during a sale transaction.
- Provided assistance to a copper and molybdenum mining company as it worked through various liquidity issues; completed a thorough review and overhaul of the short-term (26 week) forecasting tool; integrated a disbursement approval process; and participated in vendor communications and negotiations.
- Enhanced the working capital of a copper mining company and implemented changes which increased near-term cash flows by $7 million.