Case Study

WilliamsMarston Clears the Way for Private Equity Firm’s Successful Exit

Learn how WM enabled a private equity firm’s successful exit through the close of a large acquisition for a $250 million portfolio company while integrating prior acquisitions and supporting the annual audit.

The Challenge

Integrating multiple acquisitions and closing the largest deal to date is exacerbated by limited resources and audit deadlines.

Largely immersed in day-to-day operations, the company’s finance team faced limited resources and the expertise required to simultaneously manage the cross-functional impacts of integrating multiple acquisitions.

The pending acquisition was the largest deal the company’s finance team had seen – contingent on debt refinancing, which required the successful satisfaction of lender due diligence. The company’s priority was proving its multiple acquisitions’ success by achieving significant synergies, including cost reductions in SG&A, eliminating redundancies, streamlining processes and implementing best practices throughout the integrated organization. All of this faced a competing deadline – the company’s existing debt covenants required audited financial statements within 90 days of year-end.

The Solution

Interim leadership guides financial diligence, post-merger integration and compliance.

With many challenges hindering success, WM stepped in as the interim Director of Corporate Development to drive the initiatives forward. Essential training, guidance and oversight of all aspects of the financial due diligence initiatives was provided from the start. WM managed the company’s external advisors, including accounting, tax, legal and strategic due diligence teams, in tandem with supporting the private equity firm in lender due diligence and debt refinancing negotiations.

WM prioritized expediting the external audit to meet the debt covenant requirements by preparing numerous technical memos. The team also focused on enhancing the FP&A function for more robust management reporting and reviewed the year-end close processes to bolster the internal finance team’s readiness to report and for future audits.

WM coordinated post-merger integration efforts for multiple acquisitions, including managing external advisors to achieve operational synergies and other cost savings. As a culmination of the engagement, WM played a key role in the sell-side due diligence of the newly combined company.

The Result

WM’s leadership not only filled the gap, but provided transformational outcomes for both the portfolio company and the private equity sponsor.

The company completed its debt refinancing and large acquisition and issued its audited financial statements on schedule. Within a short time, the company was acquired by a strategic buyer, enabling a successful exit for the private equity sponsor.

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THE TEAM RESPONSIBLE

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CLEAR IMPACT

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“I could not have made it through our initial public offering without the team from WilliamsMarston to field so many complicated issues. You have been fantastic, and it’s been a pleasure to reach this milestone with you!”Chief Financial Officer
IPO Company

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“I am sure we had one of the most complicated preferred stock conversions at our IPO than any other company. We appreciated your help. You made us look good, and we look forward to continuing to work with you.”Chief Financial Officer
IPO Company

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“I wanted to share my thanks for all the work WilliamsMarston did. Thanks to your great work, I felt confident going into the audit prepared.”VP Finance
Private Company

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“I continue to be impressed and grateful with the level of attention and technical expertise your team consistently provides.”Senior Finance Director
Public Company

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