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Stephen Feerrar

sfeerrar@gfocfo.com

Phone Number: 866-220-4092 x110

Location: Moorestown, New Jersey

Years of Experience: 30

Biography: Prior to joining GFO, Steve was Managing Director of Veracity Financial & Management Services, providing financial consulting and part-time executive services to mid-size and small business and non-profits. Steve provided investment analysis, acquisition due-diligence, capital procurement - including tax-exempt bond issuance, operational and tax planning, development of insurance programs, business relocation and closure management and support for special projects. Interim and part-time assignments included:

• CEO & CFO of an electric demand services company (165 customers in 10 states)
• CFO & Treasurer of a international human services non-profit ($170 million annual revenues)
• President of a biofuels venture (start-up)
• Part-time CFO of an environmental engineering company (12 employees)
• Interim CFO of a regional services provider (non-profit)
• Part-time CFO of an information technology provider (8 employees)
• Interim General Manager of a small manufacturer (15 employees)

Prior to Veracity, Steve served as Vice President and CFO of PPL Global, Inc.(Global) in Fairfax, VA. He was the founding financial officer of this unregulated division of PPL, Inc. (Pennsylvania Power & Light). Global had operations in nine countries in Latin America and Europe, encompassing 2.5 million customers and $1.8 billion in assets. Steve had full management responsibility for treasury, accounting, tax, human resources and administrative functions with active support of commercial development, asset management, and partner relations. While at Global Steve built the financial function and transitioned it from start-up through a high growth phase. Under his leadership the division achieved profitability in its second year of operation and reached $37 million in net income. Steve led the financial negotiations on six major acquisitions and closed $650 million in structured financing for the corporation’s largest acquisition. He also had operational responsibility for three international companies, including Global’s largest affiliate. Steve established the international tax function for both Global and PPL. He was an active board director on five foreign public companies (UK and Latin America).

Before Global Steve served in finance positions of increasing responsibility over 16 years with Air Products and Chemicals. Inc. in Allentown, PA. As Director of Finance (Treasury), he managed transactional financial projects for the corporation, including large development projects with structured financings. As Finance Director and Controller of the Energy Services Division, Steve was instrumental in the company’s entry into the cogeneration, waste incineration and landfill gas recovery businesses. In other assignments, Steve managed investment analysis for the company’s premiere division –tonnage gases, and managed the divestiture of a large engineering services division.

Successes:

• As founding CFO, Steve led PPL into the international marketplace, established its international tax function, closed 11 acquisitions and supported the achievement of $37 million in profits in its fifth year of operations.

• Steve was able to secure a critical letter of credit and a corresponding credit facility for a rapidly growing electric services company during a very difficult operational period for the company.

• Working with a small soft-goods distributor that was facing serious liquidity issues, Steve managed to complete its acquisition by its largest creditor, allowing the company to avoid bankruptcy.

• Threatened with the withdrawal of a facing Letter of Credit on a tax-exempt bond issue, Steve was able to manage a non-profit back into compliance with its credit bank. That credit bank still desired to withdraw from its relationship with the non-profit, so Steve arranged with the State Economic Development Agency for a recall and reissue of that tax-exempt bond with another bank providing the facing Letter of Credit. The reissue rate was below the original interest rate, thereby saving the non-profit organization over $70,000 per year.

• Working with a growing information technology provider in New Jersey, Steve helped the company secure Economic Development loans that reduced their primary mortgage rate from 7% to 3.15%.

Education:

Steve holds a BS, Chemical Engineering from Drexel University and an MBA, Finance from The Wharton School of Business at the University of Pennsylvania.

Licenses:

Steve is a licensed insurance provider in the state of New Jersey.

Areas of Expertise: Investment analysis and capital procurement, Capital and operational budgeting, Venture structuring and start-up, Acquisition analysis, due diligence, closure and integration

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