Building robust finance and accounting processes for a pet-service industry rollup.

Execution

The company engaged Growth Operators to provided outsourced finance & accounting services and build a scalable finance function. It also needed to support its aggressive add-on acquisition strategy and tapped Growth Operators M&A integration advisory capabilities. Growth Operators mobilized an entire team of experienced operators, and:

• Conducted detailed interviews with key senior and line management to get up to speed on account, existing processes and systems
• Led the monthly financial close process
• Prepared a standard chart of accounts for all of the company’s numerous business units and for future acquisitions
• Created and developed a full monthly reporting package including balance sheet, income statement, cash flow, loan compliance and other supplemental information.
• Oversaw the weekly rolling cash flow forecast
• Managed the first financial statement audit which covered two calendar years, including opening balance sheet work
• Transitioned all finance and accounting processes in-house upon the termination of a Transition Services Agreement for a large acquisition
• Provided financial team input and implementation support for a new multi-location operating software system
• Provided financial team input and implementation support for a new ERP system
• Served as the company’s interim CFO
• Attended all board meetings and present summary financial results
• Prepared all required monthly sales and use tax information for proper filing by outside tax accountants
• Assisted accounting firm with preparing income tax estimates
• Provide M&A integration services for acquisition of multiple businesses
• Oversaw the purchase accounting for add-on acquisitions
• Prepared detailed overview of systems, accounting policies, and audit results to transition the financial stewardship of the business to full time CFO and Controller

Result

When opportunity knocks, it’s a shame not to answer. This PE sponsor put faith in Growth Operators to create a finance & accounting infrastructure and team that enabled its new platform to confidently pursue dozens of promising add-on acquisition opportunities. They knew that with enough time, they could build these capabilities on their own. But choosing Growth Operators gave them immediate access to a dependable, world-class finance and accounting team that could get the work done, and build them a robust in-house finance & accounting function at the same time. Remember, going slow was never part of the plan.