Case Study

WilliamsMarston Clears the Way following a $2.4 Billion Acquisition

Discover how WM supported a publicly traded industrial products company that completed an acquisition of entities spun off from a Fortune 100 company.

The Challenge

A $2.4 billion acquisition presented difficulties for a publicly traded industrial products company, highlighting the need for expertise around SEC filing rules and requirements for significant transactions.

Following the acquisition of multiple entities spun off from a Fortune 100 company, the publicly traded company found the complexity strained their internal accounting resources.

The size and complexity of the acquisition left the company without clarity as to how to properly account for the transaction, specifically around who the accounting acquirer was and how to comply with complex SEC filing rules and requirements for significant acquisitions. While the company maintained a strong operational controllership team, they lacked the technical expertise needed to manage the complexities of a large multinational public company. The team also found themselves stretched thin managing day-to-day operations while dealing with significant and complex transactions.

The Solution

WM’s technical accounting experts stepped in to assist with the appropriate reporting for the transaction and related matters.

WM assisted with determining which party was the accounting acquirer. From there, the team helped with key accounting considerations under ASC 805 Business Combinations and navigated numerous other issues related to the merger, such as share-based compensation, foreign currency accounting, income tax accounting and internal controls over financial reporting.

WM became a preferred advisor, meeting with management quarterly to review recent transactions and discuss the related accounting and reporting treatment. Additional projects WM advised on included the termination of cross-currency interest rate swaps and the reporting related to a significant business disposition. The Company has relied on WM to provide technical guidance and SEC reporting support during the quarterly and year-end close process, as well as regular income tax accounting assistance.

The Result

WM’s expertise cleared the way during the company’s transformative acquisition period and established WM as a trusted partner.

The deep expertise and support provided during this transformative acquisition positioned WM to be the preferred advisor for complex accounting, reporting and tax matters for the multinational public company with over $2 billion of annual revenue.

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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