Private Equity Services

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.

Challenge:

  • 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

Solution:

  • 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

Result:

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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Private Equity Services

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.

By | 2017-02-07T14:37:22+00:00 December 29th, 2016|Impact Stories, Private Equity Services|0 Comments