The Leading Pioneer in Advanced Fastener Materials
It started with a hike in the woods. Now Velcro (www.velcro.com) connects over 10 billion times a year. As pioneers in hook and loop fastener technology, Velcro is the original patent holder of U.S. Patent 2,717,437 filed on October 15, 1952.
Today, with over 300 active patents worldwide and more than 50 years of experience, Velcro Industries strives to be the dominant innovator in fastening technology through efficient and creative solutions. The Company via its Innovation & Technology Center presides over product and process development in woven and knit textiles, continuous plastic molding, non-woven loops, and a variety of other fastener technologies.
The company was founded in 1957 and is based in Boston, Massachusetts.
Velcro Industries History and George de Mestral
Many people have wondered: Who invented VELCRO® Brand hook and loop? It began with a burdock burr, a tiny seed covered in hundreds of ‘hooks’ that naturally catch onto the microscopic loops that cover fur, hair and clothing. The burr was an unassuming marvel of nature and a minor headache for man, until one day in 1941 when the burdock burr, Swiss engineer George de Mestral, and his dog crossed paths on a hunting trip in the Alps.
Seventy years on, that chance meeting has proven to be remarkably fruitful.
The Invention and Impact of VELCRO® Brand Hook and Loop Fasteners
Inspired by the burr, de Mestral created the world’s first hook-and-loop fastener. De Mestral originally envisioned VELCRO® Brand hook and loop as a fastener for clothing. Today it is being utilized across a wide range of industries, from healthcare to your garage to the military. While each VELCRO® Brand product is built for a specific task, the principal mechanics remain the same. Just think: the VELCRO® Brand solutions that keep your tablet device mounted to the wall are based on the same principles as the ones that NASA uses to keep their dinner plates from floating in zero gravity space.
Velcro Product Offerings
Velcro USA, Inc. provides hook and loop fasteners. It offers adhesives; non-woven loop material made for disposable applications; double-faced loops; electrical systems; EVAPTEX fabric, a moisture wicking, breathable, and durable knit textile; fire-retardant hooks and loops; flame-laminated products; Flex-Zone diaper tabs; floor covering; headliners; health and beauty; and high technology hook (HTH) products; and knit nylon loops.
The company also provides military hooks and loops; automotive assemblies; nonwovens; personal care fastening systems; personal care hooks; PRESS-LOK, a self-engaging hook-to-hook fastener ideal for packaging applications; protective components; a RAPID STRAP kit; RF wieldable hooks and loops; seating; self-gripping fasteners; single component fasteners; storage systems; stretch loops; and woven hooks and loops. In addition, it offers LOGISTRAP, a reusable and versatile strap for materials handling applications in distribution centers, warehouses, and closed loop logistics to secure pallet boxes, sleeve packs, and collapsible containers. Further, the company offers application engineering and development, and fabrication services.
Detail of Responsibilities
The Company is seeking a seasoned and accomplished corporate development executive with an unusual combination of skills. However, there is no question that the most critical skill is a proven ability to run the global M&A activities of the corporation in close partnership with the CFO to whom this position reports. The Director Global Corporate Development will have a passion for and experience working with cross-functional internal and external teams and advisors to research, model, negotiate, close and integrate corporate acquisitions. In addition, this position is responsible for financial planning and analysis to support existing business development relationships.
- 5 to 10 years of similar work experience in a private equity institution, M&A advisory organization, or an international manufacturing company with experience across at least 10 completed transactions. Global M&A experience required
- Demonstrated track record in financial analysis evidenced through successful transactions on the buy side
- Success in leading and managing M&A cross-functional teams
- Extensive financial modeling experience using appropriate software programs
- Exposure to acquisition accounting and financial theory
- Exemplary interpersonal and communication skills with a focus on customer needs
- Ability to provide insightful analytics to executive management; ability to interface with all levels of management
- Ability to create well written financial reports for Management/Board use
- Ability to work according to project plans and timelines; ask probing and challenging questions; request help when needed
- Ability to travel up to 20%
- General knowledge of tax issues and calculations as relate to income tax, VAT, transfer pricing, withholdings
Key skills, experience, and segment background include the following:
- FUNCTIONAL Prior Success
- Leadership & management of cross-functional M&A teams
- Ownership of analysis to CFO, President and business unit managers for business development within existing contract relationships
- Modeling of all benchmark data for all acquisition targeted considered and/or closed
- Driving statement of growth strategy via supervising creation of accurate financial models
- Financial planning and modeling for special projects owned by the CFO
- Supervision of financial models and analyses for establishing purchase price, NPV, IRR, Pay-back, integration savings & other metrics
- Creation of financial due diligence lists in collaboration with corporate legal counsel, accounting, tax advisors, etc. and ownership of transaction punch lists
- Assistance in closing transactions, e.g. prep and/or review of closing statements and docs
- Performing post-due diligence and post-closing analyses in partnership with finance, legal, HR and other departments
- Ownership of transaction pipeline, competitors, trade journals, and broker & investment bankers along with related market research
- Assisting post-acquisition integration & onboarding
- Preparing & presenting presentations for Board & senior management
- STAGE of Company Experience
- Experience working with investors and board directors in closely held companies
- Rapid building & scaling off of existing strong brand recognition
- Growth phase of company development & rapid revenue growth, $100M-$1B+
- MANAGEMENT & Leadership Experience
- Building scalable management processes without suffocating innovation/speed
- Success as individual contributor and as player/coach
- Managing global cross-culture/cross-border internal and external relationships
- leading cross-functional teams via influence & persuasion vs. authority
- INDUSTRY experience in SPECIALTY MANUFACTURING
- Advanced materials & adhesives
- Specialty printing & packaging
- Building products
- Advanced textiles & fabrics
- BS/BA + MBA
- Knowledge of international business environment within finance, accounting, and cost
- Fluency in other languages, especially Spanish and/or Mandarin
To explore this opportunity further, follow this link.