Mark Herzing
CFO, BryceTech, LLC
BryceTech’s Mark Herzing recently oversaw a long-term strategic planning process that positioned BryceTech as a leader among mid-tier providers of mission-critical services in aerospace technology, rapid defense technology development, CBRNE defense, and public health preparedness and response. It also drove up revenue.
The initiative led to a 61% increase in 2023 compared to 2022 and an average annual growth rate of 52.1% over the past five years.
BryceTech’s strategy prioritizes reinvesting net income in growth-focused capabilities. As a result of the company’s financial success, they increased investments in growth and business development functions by 53% in 2023, compared to 2022. Growth also enabled the company to insource critical strategic recruiting capabilities to meet strategic staffing needs, and it allowed for hiring additional dedicated capture, proposal management and pricing personnel.
“We achieved our strategic objective of maintaining a ‘tooth-to-tail’ ratio – the proportion of growth-related indirect expenses within our overall operating budget – of greater than 50%,” Herzing said. “Notwithstanding this investment, we achieved increased profitability in 2023: net income increased by 69.5% compared to 2022, and EBITDA increased by 71.9%. During the year, we eliminated all our long-term debt, freeing up borrowing capacity to support acquisitive growth in 2024/2025 should we identify an appropriate target.”
Why Watch
Herzing said BryceTech is on a mission to achieve sustained growth under the leadership of Founder and CEO Carissa Christensen, Chief Growth Officer Jeff Mujsce and him.
“Mark is a truly strategic CFO with a rare ability to bridge different disciplines,” Mujsce said. “He focuses on the big picture while managing the details of building BryceTech’s infrastructure. Mark partners with me to develop a leading business development capability, which is key to our growth.”
Herzing said BryceTech built an outstanding team of senior leaders who excel in delivering mission-critical solutions while enjoying the entrepreneurial journey.
“Our solid infrastructure and skilled business development team are the foundation for scaling operations,” Herzing said. “With several hundred million dollars in proposals under evaluation by key federal and defense agencies, BryceTech’s future is bright.”
Fun fact: Herzing is semi-professional tubist and maintains an active “second life” as a musician, performing around the D.C. metro area in various brass ensembles.