Seasoned interim executive and family owned company partner for a successful business transformation
Abraxas Group LLC (“Abraxas”), a boutique advisory firm focused on supporting Middle Market companies in transition, is pleased to announce the successful business transformation of client Luster Products.
Luster Products is a family-owned consumer goods company serving the multi-cultural haircare market. The company has two main brands that cater to this segment: Pink® and S-Curl®. Luster Products has deep roots in the industry, having been founded in 1957 and ranking as the top of the “heritage” companies in its segment.
In January of 2020, David Johnson of Abraxas Group joined the Luster Products leadership team as Interim Chief Operating Officer, with a mandate to drive a business transformation. In the face of the historic challenges that 2020 presented to all companies, especially those in the middle market, David and the Luster Products team developed and executed a business transformation that resulted in dramatic improvement in the company’s profitability and key operating measures.
Jory Luster, President and CEO of Luster Products, had this to say:
What David has built at Abraxas Group is special, and my family and company were the beneficiaries of that in 2020. David is simply a different type of consultant. He joined the team, rolled up his sleeves, and he worked with us to craft a business transformation that would not only meet our business objectives but one that was true to the culture that my family has built and nurtured over 60 years. This was a true and successful partnership.
Founded in 2015 by David Johnson (@TurnaroundDavid), Abraxas Group has adopted and refined a service delivery model in which a single professional assumes a C-level leadership role and drives a business transformation. This approach has generated stellar results across industries and ownership structures in the middle market.
For more information contact Luster Products and Abraxas Group.