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Executive Vice President and Chief Financial Officer
Senior Vice President, Finance
Certified Public Accountant
State of Wisconsin
American Institute of Certified Public Accounts
Audit Committee Chair
Broward County , Inc.
Wisconsin Society of CPA's
American Society of CPA's
INFe , Inc.
Mr. Wolter is a managing director with Sunera LLC. Prior to joining Sunera, he was a Principal with Advanced Financial Solutions. Duane has over 35 years experience working as a CAO, CFO, COO and CEO of some of the nation?s leading companies along with private equity portfolio companies. He has been a leader in providing financial consulting serves to large and mid-cap company services including corporate restructurings, equity financings, ERP implementations, interim CFO services, turnarounds and divestiture projects.
Recent Relevant Experience
? Chief Restructuring Officer (CRO) for a $250 million retailer from recovery of additional assets through liquidation and distributions to creditors.
? Financial Advisor for a $150 million revenue apparel retail acquisition by a $4 billion manufacturer/wholesaler to double its retail base. Provide the prerequisite experience with retail acquisitions, purchase price negotiations, acquisition integration and technical accounting. Eliminated the need for an expensive 90 day transitional services process and agreement (TSA).
? Stand in CFO for a $120 million specialty retailer including overall supervision of accounting, finance and inventory control. Completed the fair valuation of the acquired assets and liabilities and established the opening balance sheet under FAS141R.
? Implemented FAS141R for a spin off a professional medical services company for the hospital industry, including the preparation of the opening balance sheet and all related valuations.
? Stand-in CFO for a $170 million specialty paper processor formed by a carve-out of two plants from an integrated paper processor. Established corporate reporting, corporate accounting, prepared the first annual budget and completed the annual audit. Established the opening balance sheet under FAS141 and reporting for the company?s revolving line of credit. Corrected the monthly accounting package issued to the ownership parent and achieved timely preparation of all reporting on schedule.
? Stand-in CFO for a $220 million specialty retailer including overall supervision of accounting, finance, inventory control and IT. Completed the annual audit and issuance of the annual report on time despite the process being over 6 weeks behind schedule. Established the opening balance sheet under FAS141, updated straight line rent accounting and completed other accounting cleanup work. Corrected the monthly accounting package issued to the ownership parent and achieved timely preparation of all reporting on schedule. Designed and implemented a manual open to buy accounting system for 68 locations to establish control over the order processing and approval process.
* Stand-in CFO for a $500 million revenue home builder including overall supervision of accounting and finance functions; oversaw large-scale cleanup project of supporting general ledger amounts; successfully avoided bankruptcy proceedings by ensuring financial results were accurate, properly supported and available to numerous consultants including those from private equity firms, financial institutions, institutional investors, minority owners, previous owners, parent company as well as the independent auditors; supported their annual and interim audits.
? Research, analyze and document various technical matters related to issues at portfolio companies of large private equity firm including purchase accounting, sale-leasebacks, royalty payment treatments, impairment analysis and discontinued operations.
? Regional retailer with major deficiency in inventory accounting resulting in qualified opinion from its auditors. After 15 months and 5 previous inventory controllers failed to correct the deficiency, assumed responsibility for developing and implementing the strategy for corrective action. In 3 months resolved the internal controls deficiency, installed new procedures, designed updated systems and recruited full time replacement.
(14 Total References)
Miami Internal Audit | Miami IT Audit | Miami Information Security | Sunera
Sunera | Miami | Internal Audit, IT Audit, SOX, PCI & Information Security Consulting
Business and Accounting Consulting Leadership Team - AFS | Advanced Financial Solutions - South Florida Co-Sourcing / Outsourcing
Duane Wolter, Principal
Duane Wolter joined AFS in 2006 and serves as a Principal with particular focus on our Finance and Accounting service lines.
Prior to joining AFS, Mr. Wolter served in a number of executive positions in private industry including CFO and Vice President of Finance of leading retailers in the United States, including The May Company and The Home Depot.
career, Mr. Wolter
gained extensive experience with mergers and acquisitions and has led dozens of transactions.
Since joining AFS, he has been involved with large and mid-cap company services including corporate restructurings, equity refinancings, interim CFO services and divestiture projects.
Mr. Wolter began his career with Arthur Andersen & Co.
He has a Bachelor of Business Administration from Marquette University in Marquette, Wisconsin.
Mr. Wolter is a Certified Public Accountant in the State of Wisconsin.
Executive Vice President & Chief Financial Officer
Mr. Wolter has over 30 years of progressive operational and financial experience as a senior corporate executive.
Beginning as an audit manager with a big five public accounting firm, he has successfully executed the responsibilities of a division President as well as Chief Financial Officer of Fortune 500 Corporations including Home Depot, May Department Stores, Ames, and several smaller public traded corporations including Wilson's, Luria's and McCrory's.
Mr. Wolter is recognized as a Diplomate of the American Board of Forensic Accounting and an expert in Securities and Exchange Commission compliance.
In addition to being a CPA, he enjoys a long and distinguished record of improving earnings performance through market development, business restructuring, margin growth, and improved deployment of capital and targeted expense reductions.
During his career, Mr. Wolter has managed and completed over $3 Billion of public and private financings and ten acquisitions/mergers with purchase prices ranging from $40 to $600 million and two divestitures at an average sale price of $45 million.
Further, Mr. Wolter has successfully advised and managed ten small business mergers and successfully served as crisis manager for four corporate turnarounds/liquidation's and is acknowledged as an expert in asset management and recovery in bankruptcy proceedings.
Advanced Financial Solutions