Stood-up accounting function for a public company carve out acquired by PE firm
Situation
A $40MM subsidiary of a public company was sold to PE. Within 12 months of close, two add-ons were acquired.
Solutions
Over a period of 8 months, MMG:
- Oversaw transition of accounting to a new instance of the software and ended the TSA agreement.
- Built more robust financial and dashboard reporting to support business management
- Helped leadership develop a first-year budget
- Built and maintained a 13-week cash flow forecast
- Integrated $12MM and $5MM add-on
- Performed purchase accounting and NWC true-up on both acquisitions
- Supported first year audit efforts, including building account recs, required memos and drafting footnotes
- Transitioned responsibilities to full time CFO
Acquisition On-boarding and Exit SupportManufacturing & Distribution
