Hartford Business Journal

20 Hartford Business Journal • September 12, 2016 www.HartfordBusiness.com Turbine Tech's Marchak is its 'money man' Winner: Private Company, less than or equal to 100 employees By Patricia Daddona pdaddona@HartfordBusiness.com D avid Marchak is just one member of the executive team at Turbine Technolo- gies Inc., but his influence has proved central to the Farmington aeroparts maker- supplier's operations and growth. When Marchak, 45, of Bristol, joined Tur- bine in 2013 as chief financial officer, it faced financial constraints lingering from the Great Recession and industry setbacks. Marchak introduced a 13-week forecast model he'd developed at another manufac- turer some two or three years earlier. Every quarter, the certified public accountant's model projects operations, growth and budget needs, said President and CEO Tyler Burke. "Down to the dollar, we'll know 13 weeks out what's coming in, what's going out, and why," Burke said. "It allows us to optimize and get the biggest stretch for our dollar." Since then, every year Turbine Tech Chief Operating Officer Max McIntyre, who over- sees operations at plants in both Connecticut and Greenville, S.C., and — this year — John Guyette, the new vice president of industrial gas turbines in Greeneville, help Burke and Marchak craft a financial strategic plan. That plan projects top line revenue growth objec- tives in one-, three-, five-, and 10-year intervals. "One thing David always says is, 'Revenues are vanity; earnings are sanity,' " Burke said, adding, "A financially astute and prepared com- pany will … forecast [potential growth] and take actions to prepare themselves for the ebbs and flows. David brought that capability to us." Marchak says he uses his financial exper- tise to bridge the gap between operations and long-term vision. "Tyler is the man of strategy," he said. "Max is the man of day-to-day reality. And I am the man of money and everything in the back house." In 2013, Burke says he, McIntyre and Marchak identified "what was wrong opera- tionally and implemented control measures that put us on the right path." The trio laid out a plan and a timeline in order to adapt, Marchak said. Righting financially challenged compa- nies motivates Marchak. "Helping businesses turn around and achieve the desired result is what inspires me to work," he said. He spent 16½ years — most of his career — at United Technologies, gaining expertise in finance within the aerospace industry before moving on to smaller companies where he could help with financial planning and strategy. Marchak says he gets his drive from his father, who died when he was 6 and worked the last 35 years of his life at New York Life Insur- ance Co. As part of the first generation to move from Russia to America, Marchak's father worked in the field much of his career, and up until the last two weeks of his life, when he suc- cumbed to pancreatic cancer, Marchak said. "It's that determination, that drive, that commitment — I learned all of that from him," he said. Marchak, who lives with his wife, Nancy, and their three daughters, four years ago began running distances of five or six miles a day, after having been a sprinter in high school. He equates the change with personal growth — from someone who could get things done quickly to someone who, through per- sistence, is thorough and explores options. Recently, Marchak helped Turbine acquire $5.5 million in mezzanine financing, with options for additional investment from Ironwood Capital in Avon. Mezzanine financ- ing is typically more expensive, but because the lender doesn't take an equity stake, it does not dilute ownership, Burke said. Turbine will use the capital to acquire the most technologically advanced equipment available, Burke said. He credits Marchak with being a critical liaison in such dealings. "When we talk to banks and investment partners, we have a 100-percent track record of saying what we're going to do and doing what we say," Burke said. "They really like that." Marchak also was instrumental in obtain- ing a $200,000 loan from the Connecticut Department of Economic and Community Development to purchase four new pieces of equipment in 2014. Half the loan has been forgiven and Marchak says he is seeking to refinance the rest. Qualifying for that loan "was dramatic to us because the company hadn't invested in new machines in a number of years, so this was a direct jolt for the company," Marchak said. Marchak earned his accounting degree from UConn, and is a member of American Institute of Certified Public Accountants. In his free time, he is involved in United Way and Special Olympics. The CFO's commitment to his work was most evident after he underwent an emer- gency appendectomy in June, said Burke. Asked basic questions while coming out of anesthesia like "Who is the president?" and "What is your favorite hobby?" he answered the latter with one word: "Work." Then he asked for his laptop. "The level of dedication is remarkable," Burke said. "He doesn't just have a job. It is a lifestyle. It's who he is. He doesn't turn it off." n P H O T O | S T E V E L A S C H E V E R David Marchak, CFO at Turbine Technologies Inc. in Farmington. David Marchak T H E B A S I C S Name of organization: Turbine Technologies Inc. Title: CFO Size of organization: $10.5 million Education: B.S. in Accounting from the University of Connecticut Previous jobs: Allied Printing Services (2011-2013); Winchester Electronics (2009-2011); United Technologies Corp. (1993-2009) O N T H E J O B Guiding business principle: Take the time to do it right the first time. Best way to keep your competitive edge: Attending seminars to keep relevant Best business decision: Starting my career at a Fortune 50 company Worst business decision: Thinking that I would be able to apply U.S. accounting concepts overseas Biggest missed opportunity: Traveling to New Zealand when I was working in Sydney, Australia Goal yet to be achieved: To see my daughters grow into becoming successful women P E R S O N A L S I D E City of residence: Bristol Favorite way to relax: On the couch with my wife and family Hobbies: Golf, running, daughter's activities Last vacation: Disney World Favorite movie: Ferris Bueller's Day Off The car you drive: Jeep Grand Cherokee Currently reading: A number of Harvard Business Journal texts Favorite cause: Special Olympics & American Cancer Society CFO of the Year 2016

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