Case Studies

Post-Acquisition Support (First 100 Days)

Background

An industrial safety product manufacturer owned by private equity doubles in size in a single year via multiple strategic acquisitions. The office of the CFO was faced with significant non-recurring work to manage the purchase accounting and closing statements for each acquisition, perform consolidation procedures, convert European acquisitions from IFRS to GAAP, and integrate the finance operations with the platform.

Solutions

  • Prepare closing statements (including net working capital) for purchase agreement's post-closing adjustment mechanism
  • Opening balance sheet
  • Technical accounting support for business combination
  • Technical accounting support for sale-leaseback occurring subsequent to the transaction
  • Preparation of financial statements and acquisition footnotes
  • Audit support services and direct coordination with external auditors

Outcomes

The Company was able to focus on management and integration of the newly-acquired entities rather than accumulating audit schedules and documenting accounting positions related to the acquisitions.  Management was also able to dedicate more time to strategic initiatives with the private equity sponsors, while being confident there was continued progress on generating financial statements and supporting audit efforts.

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