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Ray Szafranski, Jr.

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CPA, CMA, MBA

Partner
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Ray Szafranski has become an invaluable extension of our leadership team. He learned our business remarkably quickly and consistently provides timely, insightful financial analysis that helps us make better strategic decisions.

One of Ray’s most impactful contributions has been developing a comprehensive five-year financial model that gives us greater visibility and confidence in our long-term planning. He also provides meaningful insight into our budgets and forecasts, helping identify areas that require additional focus and enabling more informed decision-making.

Beyond his technical expertise, Ray has been an outstanding mentor to our finance team, helping team members grow professionally and prepare for the next stages of their careers. His deep knowledge of international business structures, tax strategy, and compliance has been especially valuable as we navigate complex cross-border considerations. He brings a practical, solutions-oriented approach that helps us remain compliant while thoughtfully minimizing tax exposure for both the company and its owners.

Ray combines exceptional financial expertise with a collaborative, people-focused approach, making him a trusted advisor and an integral part of our leadership team. I highly recommend him to any organization seeking a strategic financial partner who delivers both technical excellence and practical business insight.

Gary Kolbeck, President

Lincoln Technology Solutions

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With over 30 years of hands-on financial leadership, Ray Szafranski Jr. has strengthened the financial foundations of organizations of all sizes—from early-stage startups to mid-sized companies and large international operations. He has guided businesses through monthly reporting, annual budgeting and forecasting, contract negotiations, and audits spanning financial, tax, and internal controls. Ray consistently adapts his approach to meet each company’s unique needs, whether implementing the first proper bookkeeping and reporting systems for a small startup or leading a mid-size manufacturer through complex audits and growth planning. He brings disciplined financial acumen, flexibility, and strategic focus, making him particularly well suited for businesses looking to mature, scale, or reorganize their financial operations.

Mr. Szafranski began his career in public accounting with a focus on tax, worked for a large pharmaceutical company, then transitioned to a Controller of an international manufacturing joint venture, and utilized these skills to continue to expand his leadership and finance skills for companies in Distribution, Personalized Nutrition, Pharmaceuticals, Professional Services, and Medical Device and Robotics Manufacturers.   He is a licensed CPA in North Carolina, licensed CMA, and is highly proficient with GAAP and IFRS accounting. His unique blend of technical expertise and strategic insight enables him to deliver clear financial reporting, improve operational efficiency, and support long-term business success.

His areas of expertise and skills include:

Accounting & Finance

  • GAAP & IFRS financial and management reporting
  • Budgeting, forecasting, and cash flow management
  • Procedures, internal controls, and process implementation
  • Financial audit oversight
  • Cost reduction and profitability improvements

Business & Leadership

  • Executive Team member
  • Team leadership and staff development
  • Contract review
  • Growth strategies
  • Cross-functional partnership

Technology & Systems

  • Implemented multiple systems (ERP, Sales Tax, and AP automation)
  • Highly proficient with Microsoft Office 365

Currently, Mr. Szafranski serves as a fractional CFO for:

  • Pine Research Instrumentation designs and manufactures precision electrochemical research tools (like potentiostats, electrode rotators, electrodes and accessories) used for research, education, and industry.
  • Logan’s Garden Shop is a family-owned retail garden center and nursery selling plants, gardening supplies, and outdoor living products to home gardeners and landscaping enthusiasts.
  • Lincoln Technology Solutions, an engineering and manufacturing company that designs, integrates, and produces custom LCD and OLED display solutions for complex, high-performance applications across industries.

A native of Chicago, Illinois Ray attended the University of Notre Dame, where he earned a BBA and majored in Accounting.  He then attended Duke University’s Fuqua School of Business where he earned his MBA. He is a North Carolina licensed CPA and Certified Management Accountant.

Career Timeline

  • 2025: Joined Rankin McKenzie as Partner.
  • 2020-2025: Chief Financial Officer, Hemosonics, LLC: a privately owned $10M medical device manufacturer with approximately 100 employees.
    • Led the finance and IT functions, supported multi-year growth (60% in 2020, 65% in 2021, 90% in 2022, and 70% in 2023), and managed GAAP/IFRS reporting, budgeting, forecasting, and annual financial audits.
  • 2014-2020: Panacea Biomatx, Inc.: a $500K personalized nutrition start-up with 15 employees.
    • Responsible for all finance, accounting, HR, five-year projections, acquisitions, and customer service.
  • 2005-2014: Tecan US, Inc., $150M US Subsidiary of Tecan LTD, Swiss publicly traded company of approximately 165 employees.
    • Responsible for all GAAP and IFFRS financial reporting for Tecan’s Americas operations.
    • He reduced accounts receivable days outstanding by 21%, cut >90‑day past due from 23% to 9%, and reduced bank fees by 60%.
  • 2002-2005: Tereck Office Solutions, Inc.: a $12M privately owned Canon copier and HP printer dealer with 35 employees
    • Implemented monthly financial reporting and cleaned up IRS issues with misfiled employment tax forms.
    • Negotiated a 300% increase in vendor credit and reduced 120‑day accounts receivable aging by 60% while growing overall A/R by 46%.
  • 2000-2002: Meta Control Technologies, Inc.: an engineering controls manufacturing start-up, 8 employees.
    • Implemented manufacturing ERP system and all accounting controls and procedures.
  • 1996-2000: Zevatech/Juki Automation Systems, Inc.: a $36M distributor of electronic component placement machines with 35 employees.
    • Assisted with the purchase of Zevatech from ESEC, implemented international subsidiaries, and implemented ERP system
  • 1995-1996: Mackey Radio Systems, Inc.: a joint venture manufacturer of High Frequency radio equipment
    • Prepared annual budget (OPEX, personnel, capital, developed product costs) and prepared financial statements, journal entries, and monthly reporting.
  • 1989-1995: Glaxo, Inc. US subsidiary of Glaxo Ltd: a $4B publicly traded pharmaceutical manufacturer
    • Worked in federal, state, and local taxes.
    • Transferred to budgeting and reporting for Technical Operations division (manufacturing operations).
  • 1987-1989: Public Accounting firms Crowe Chizek & Co and KPMG
    • Primary focus was on individual tax preparation and planning for small businesses.
Linkedin-in
Send an Email

Ray Szafranski has become an invaluable extension of our leadership team. He learned our business remarkably quickly and consistently provides timely, insightful financial analysis that helps us make better strategic decisions.

One of Ray’s most impactful contributions has been developing a comprehensive five-year financial model that gives us greater visibility and confidence in our long-term planning. He also provides meaningful insight into our budgets and forecasts, helping identify areas that require additional focus and enabling more informed decision-making.

Beyond his technical expertise, Ray has been an outstanding mentor to our finance team, helping team members grow professionally and prepare for the next stages of their careers. His deep knowledge of international business structures, tax strategy, and compliance has been especially valuable as we navigate complex cross-border considerations. He brings a practical, solutions-oriented approach that helps us remain compliant while thoughtfully minimizing tax exposure for both the company and its owners.

Ray combines exceptional financial expertise with a collaborative, people-focused approach, making him a trusted advisor and an integral part of our leadership team. I highly recommend him to any organization seeking a strategic financial partner who delivers both technical excellence and practical business insight.

Gary Kolbeck, President

Lincoln Technology Solutions

Linkedin-in
Send an Email

With over 30 years of hands-on financial leadership, Ray Szafranski Jr. has strengthened the financial foundations of organizations of all sizes—from early-stage startups to mid-sized companies and large international operations. He has guided businesses through monthly reporting, annual budgeting and forecasting, contract negotiations, and audits spanning financial, tax, and internal controls. Ray consistently adapts his approach to meet each company’s unique needs, whether implementing the first proper bookkeeping and reporting systems for a small startup or leading a mid-size manufacturer through complex audits and growth planning. He brings disciplined financial acumen, flexibility, and strategic focus, making him particularly well suited for businesses looking to mature, scale, or reorganize their financial operations.

Mr. Szafranski began his career in public accounting with a focus on tax, worked for a large pharmaceutical company, then transitioned to a Controller of an international manufacturing joint venture, and utilized these skills to continue to expand his leadership and finance skills for companies in Distribution, Personalized Nutrition, Pharmaceuticals, Professional Services, and Medical Device and Robotics Manufacturers.   He is a licensed CPA in North Carolina, licensed CMA, and is highly proficient with GAAP and IFRS accounting. His unique blend of technical expertise and strategic insight enables him to deliver clear financial reporting, improve operational efficiency, and support long-term business success.

His areas of expertise and skills include:

Accounting & Finance

  • GAAP & IFRS financial and management reporting
  • Budgeting, forecasting, and cash flow management
  • Procedures, internal controls, and process implementation
  • Financial audit oversight
  • Cost reduction and profitability improvements

Business & Leadership

  • Executive Team member
  • Team leadership and staff development
  • Contract review
  • Growth strategies
  • Cross-functional partnership

Technology & Systems

  • Implemented multiple systems (ERP, Sales Tax, and AP automation)
  • Highly proficient with Microsoft Office 365

Currently, Mr. Szafranski serves as a fractional CFO for:

  • Pine Research Instrumentation designs and manufactures precision electrochemical research tools (like potentiostats, electrode rotators, electrodes and accessories) used for research, education, and industry.
  • Logan’s Garden Shop is a family-owned retail garden center and nursery selling plants, gardening supplies, and outdoor living products to home gardeners and landscaping enthusiasts.
  • Lincoln Technology Solutions, an engineering and manufacturing company that designs, integrates, and produces custom LCD and OLED display solutions for complex, high-performance applications across industries.

A native of Chicago, Illinois Ray attended the University of Notre Dame, where he earned a BBA and majored in Accounting.  He then attended Duke University’s Fuqua School of Business where he earned his MBA. He is a North Carolina licensed CPA and Certified Management Accountant.

Career Timeline

  • 2025: Joined Rankin McKenzie as Partner.
  • 2020-2025: Chief Financial Officer, Hemosonics, LLC: a privately owned $10M medical device manufacturer with approximately 100 employees.
    • Led the finance and IT functions, supported multi-year growth (60% in 2020, 65% in 2021, 90% in 2022, and 70% in 2023), and managed GAAP/IFRS reporting, budgeting, forecasting, and annual financial audits.
  • 2014-2020: Panacea Biomatx, Inc.: a $500K personalized nutrition start-up with 15 employees.
    • Responsible for all finance, accounting, HR, five-year projections, acquisitions, and customer service.
  • 2005-2014: Tecan US, Inc., $150M US Subsidiary of Tecan LTD, Swiss publicly traded company of approximately 165 employees.
    • Responsible for all GAAP and IFFRS financial reporting for Tecan’s Americas operations.
    • He reduced accounts receivable days outstanding by 21%, cut >90‑day past due from 23% to 9%, and reduced bank fees by 60%.
  • 2002-2005: Tereck Office Solutions, Inc.: a $12M privately owned Canon copier and HP printer dealer with 35 employees
    • Implemented monthly financial reporting and cleaned up IRS issues with misfiled employment tax forms.
    • Negotiated a 300% increase in vendor credit and reduced 120‑day accounts receivable aging by 60% while growing overall A/R by 46%.
  • 2000-2002: Meta Control Technologies, Inc.: an engineering controls manufacturing start-up, 8 employees.
    • Implemented manufacturing ERP system and all accounting controls and procedures.
  • 1996-2000: Zevatech/Juki Automation Systems, Inc.: a $36M distributor of electronic component placement machines with 35 employees.
    • Assisted with the purchase of Zevatech from ESEC, implemented international subsidiaries, and implemented ERP system
  • 1995-1996: Mackey Radio Systems, Inc.: a joint venture manufacturer of High Frequency radio equipment
    • Prepared annual budget (OPEX, personnel, capital, developed product costs) and prepared financial statements, journal entries, and monthly reporting.
  • 1989-1995: Glaxo, Inc. US subsidiary of Glaxo Ltd: a $4B publicly traded pharmaceutical manufacturer
    • Worked in federal, state, and local taxes.
    • Transferred to budgeting and reporting for Technical Operations division (manufacturing operations).
  • 1987-1989: Public Accounting firms Crowe Chizek & Co and KPMG
    • Primary focus was on individual tax preparation and planning for small businesses.

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