Transitioned a $35M Construction Company to PE-ownership
Situation
BS was on modified cash basis of accounting and had never been audited. Controller was not experienced with lender debt covenant reporting requirements and had never built an integrated budget model. MMG quickly discovered a $500k BS error impacting opening working capital.
Solutions
- Converted financials from partial to full accrual accounting
- Upgraded account reconciliation process
- Developed reporting package to meet PE needs
- Built first-year budget and oversaw first year audit and tax returns
- Evaluated add-on acquisitions, including financial due diligence and establishment of finance integration plan
Results
Company grew from $35MM to $60MM+ during the MMG engagement from add-on acquisitions and organic growth.
Acquisition On-boarding and Exit SupportConstruction and Industrial Services
