A $250 million portfolio company of a private equity firm in the software industry was pursuing a transformational acquisition while simultaneously integrating another substantial acquisition, restructuring its operations and undergoing its annual financial statement audit.
- The Company’s finance team faced limited resources and was fully immersed in managing day-to-day operations
Management was overwhelmed managing the cross functional impacts of integrating multiple acquisitions simultaneously
The Finance team had not executed an acquisition of this size and lacked the expertise on certain complexities related to the pending acquisition
Deal was contingent on debt refinancing which required the successful satisfaction of lender due diligence
- The success of the acquisitions was predicated on achieving significant synergies, including cost reductions in SG&A, elimination of redundancies, streamlined processes and the implementation of best practices throughout the newly combined companies
Debt covenants required audited financial statements within 90 days of year end
WilliamsMarston was appointed interim Director of Corporate Development
Selected and assigned internal due diligence teams, providing training, guidance and oversite of all aspects of the financial due diligence initiatives
Managed external advisors, including Big Four accounting, tax, legal and strategic due diligence teams
Supported private equity firm in lender due diligence and debt refinancing negotiations
Performed and enhanced FP&A function in order to provide robust management reporting
Reviewed year-end close and supported internal finance team with audit preparedness
Expedited external audit to meet debt covenant by preparing numerous technical accounting memos
- Coordinated post-merger integration efforts including managing external advisors to achieve operational synergies and other cost savings
- Assisted with sell-side due diligence of newly combined company
The Company successfully completed its debt refinancing, acquisitions and issued its audited financial statements on schedule. Within a short time, the newly combined company was acquired by a strategic buyer, enabling a successful exit for the Private Equity sponsor.
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A $250 million portfolio company of a private equity firm was at a critical juncture between pursuing a critical acquisition, integrating past acquisitions and timely financial reporting.