BackgroundA large, family-owned consumer products company is acquired by private equity in a $600M leveraged transaction. Financial due diligence identified pervasive issues with legacy accounting practices. While audited by a regional accounting firm, several accounting issues were identified pre-closing. Big 4 audit firm referred Paradigm to manage the purchase accounting, improve financial reporting, and manage the controllership function on an interim basis.
- Accounting advisory for complex accounting issues with significant estimates
- Discovery and remediation of inventory issue
- External audit support and coordination
- Opening balance sheet
- Accounting for profits interest plan
- Financial statement preparation
- Development of fully-integrated lender deal model for rating agency presentations to expand credit facilities in connection with the add-on acquisition of a public company carve-out