Case Study

WilliamsMarston Clears the Way for Series of Purchase Accounting Valuations

Discover how WM delivered several valuation analyses for an education technology company who, following a significant private equity investment, experienced a quick cadence of add-on acquisitions.

The Challenge

A $300 million education technology company needed support with multiple purchase accounting valuations.

After a private equity investor bought a controlling interest in the rapidly growing education technology company, the company pursued a number of add-on acquisitions over the following 24-months, triggering an immediate need for external support to complete purchase accounting valuations.

In addition to the purchase accounting needs, the company also required specialized valuations for dividend recapitalizations related to the growth—something they looked to WM to support.

The Solution

WM valuation experts were deployed to meet the new standard – without increasing the scope or fees.

WM was called in to perform the original purchase accounting valuation work following the private equity investment. As part of the scope, the team recognized standard assets, such as technology, customers and brand-related assets. The WM prepared an additional valuation needed related to rollover equity and worked closely with the audit team reviewing the prepared analysis to satisfy their review.

Following this effort, the team was re-engaged to prepare purchase accounting analyses for four add-on acquisitions. Similar assets for each company were also recognized, however, with several of these companies being asset acquisitions. During the engagement for these four add-on acquisitions, WM worked with the company’s then provider preparing technical accounting memos and opening balances, some analyses requiring significant back and forth related to changes in the opening balance sheet.

Given the company’s strong relationship with WM, the team was then asked to perform three different specialized complex valuation exercises related to debt restructuring and dividend payments. Through this work, WM identified areas for improvement in the technical accounting treatment of prior acquisitions and offered to set up a discussion with WM’s technical accounting experts.

The Result

WM’s deliverables supported the company’s audit and served as the foundation for an evolving relationship, extending beyond just valuation services.

WM successfully prepared the valuation analyses needed for purchase accounting and satisfied the auditor’s review requirements. The project also led to the beginning of a new partnership between the company and the WM Advisory team, who soon began providing assistance related to various technical accounting areas.

THE TEAM RESPONSIBLE

Ready for clear guidance and powerful outcomes? Reach out to the team today.

See the Entire Team

WM Services/Capabilities

  • Accounting Advisory

    Explore our full suite of accounting advisory services, from mergers and acquisitions and initial public offerings to technical accounting, new accounting standards adoption and more.

  • Tax

    Learn how WM can help you manage your corporate and partnership tax matters quickly and confidently.

  • Valuation

    Partner with WilliamsMarston experts for valuations related to financial and tax reporting needs, assistance with various disputes and ensure compliance every step of the way.

  • Private Equity

    Discover how WilliamsMarston can bring transparency and operational excellence to see you through, from the initial investment to a successful exit.

CLEAR IMPACT

View All Stories

Read the Case Study

“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

Read the Case Study

“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

Read the Case Study

“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

Read the Case Study

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

BRING US YOUR CHALLENGES

Gain the insight to drive transformational outcomes. WilliamsMarston’s accounting, tax and valuation services will help you navigate your most complex challenges and see you through to success.