The award recognizes female leaders from disparate industries and backgrounds who are transforming Chicago
Lori Sherwood, chief financial officer of Parts Town, the market leading foodservice equipment parts distributor with the most in-stock OEM (original equipment manufacturer) parts on the planet, has been named to Crain’s Chicago Business’ Notable Women Executives Over 50. The award recognizes female leaders from disparate industries and backgrounds who are transforming Chicago.
“I am so humbled to receive this recognition from Crain’s and honored to be listed among such a strong group of powerful women leaders in the Chicago Area,” said Sherwood. “Parts Town’s culture inspires innovative ideas along with the courage to implement them. I’m privileged every day to lead this great team and I have fun doing it.”
A knack for acquisitions
Sherwood has served as CFO of Parts Town since 2014, leading finance and legal functions, and overseeing talent and culture. She has an established tenure in finance and a knack for acquisitions, including integration of processes and culture.
Sherwood’s relationships on the accounting, valuation and legal fronts have been instrumental to the company’s 30 percent organic annual growth rate, including spearheading the acquisition of 11 companies (so far) during her Parts Town tenure. In 2016, Sherwood recapitalized Parts Town with new private equity funding in a transaction taking just two months. Her string of bold business moves has helped Parts Town grow from 147 employees (2014) to more than 500 at their Addison, Ill. office, home of their 300,000-square-foot distribution center.
Sherwood’s focus on people is central to Parts Town’s culture and its growing business. She’s a formal mentor in the PT Holdings Women’s Network and participates in Parts Town’s Helping Hands community service initiatives, building gardens for elementary schools and raising funds for charities. With a big personality and an even bigger laugh, she is a go-to leader across the business, supporting the team, no matter how busy she is.
To be named to Crain’s Chicago Business’ list of Notable Women Executives Over 50, honorees must be female c-suite level executives, ages 50 years or older (on or before April 8, 2019), at companies that have had at least $75 million in revenue based in the Chicago area. The honorees selected have shown leadership and expertise in growing their company’s business, transforming the company’s business or overcoming the company’s challenges, and their contributions have had a positive impact on the Chicago business community.
For more information on Crain’s Chicago Business Notable Women Executives Over 50 and additional honorees, visit www.chicagobusiness.com. To learn more about Parts Town and their current services, visit www.partstown.com