Integrating the finance function of multiple acquisitions in a condensed timeline

Execution

Mergers and Acquisitions

• Supported 4 acquisitions, corporate restructure and refinancing. 5 acquisitions created $90M in revenue and 350 employees
• Consolidation of 6 entities
• Supported due diligence process for sale of newly formed group. Worked with investment bank and spoke with potential investors

Integration

• Responsible for first 100 day integration plan for finance
• Implemented standard chart of accounts across all 6 entities
• Implemented new work in progress/POC process with standard templates. Work in progress calculations were implemented to support percent of complete revenue recognition process
• Implemented standard policies and procedures including month end close process and checklist
• Managed the rollout of new benefits process for payroll for 350 employees
• Transitioned all banking and credit cards to company platform
• Supported HR and IT as they implemented new standardized policies and procedures including vacation, sick leave, new health benefits and 401k plans
• Implemented new and standard KPIs across all companies

Management

• Hired payroll manager, managed the centralization of payroll for 350 employees
• Restructured finance department including hiring, firing, retirement of employees
• Managed a team of 16 including indirect management of analysts from PE firm

Financial Accounting and Control

• Managed month end close
• Implemented controls within all companies. This included establishing new contracts with sub contractors and new payment terms.
• Implemented new process to ensure the company was GAAP compliant. This included a review of the application of the Revenue Recognition standard and review of the accounting for the nuances of construction such as billing policy and how to account for retainage/retention
• Implemented CONCUR expense and reporting software

Reporting

• Responsible for all financial reporting including monthly borrowing base and quarterly covenant calculations
• Implemented weekly scorecard to measure KPIs across all companies

Treasury

• Worked to centralize banking. This included closing bank accounts and opening new bank accounts with a new bank
• Managed credit card changes and rollout of same
• Managed and implemented 13 week cashflow report

Tax and Audit

• Worked with lawyers and managed a Sales and Use tax project
• Managed relationship with auditors. Audits included opening balance sheet audits and year end audits
• Managed cash flow and bank relationship

Result

Growth Operators enabled the client to successfully acquire four companies in less than two years and fully integrate them into a regular month end schedule. This accelerated the growth by creating scalable processes and operations.