The Company
Industry: Energy + Utilities
Entity Type: Private Equity Firm
Operating Region: Texas-Based
Size: $2B
The PROBLEM
The incumbent Chief Financial Officer resigned right before the firm’s audit, creating an urgent need for an interim CFO to lead the company through the audit process while maintaining daily controllership duties. The interim leader would be responsible for month-end close, financial packaging, accounts payable, and investor reporting.
The Solution
McDermott + Bull Interim Leaders brought in an interim CFO with extensive experience in building financial health and sustainability for PE- and family-owned companies. The interim leader brought over 25 years of experience as a PE professional, operating executive, and advisor, assisting companies ranging from $10M to $1.2B in creating value through rigorous financial analytics, innovative structuring, and risk mitigation.
The RESULT
The interim CFO took the lead in reviewing and standardizing portfolio company reporting and finalized the first quarter reporting. They became more engaged with the investor reporting group, consistently providing necessary financial documents. In collaboration with the Controller, this individual reviewed best practice protocols and conducted an in-depth analysis of one of the portfolio company’s documents and financial statements, offering suggestions and revisions.
Successful Audit Completion
Successfully completed the audit, delivered Q1 investor reporting on time, and improved monthly financial reporting for the portfolio companies.
Q2 Reporting Preparation
Began preparing Q2 reporting and engaged with the portfolio management team to discuss year-to-date financials, contributing to developing a forward-looking strategy.
Portfolio Onboarding Process and Reporting Package
Initiated the restructuring of the portfolio onboarding process and developed a more consistent monthly reporting package for the portfolio companies.
Mark McConnell
Senior Managing Director, McDermott + Bull Interim Leaders
mcconnell@mbexec.com
Mark McConnell serves as Senior Managing Director for McDermott + Bull Interim Leaders, where he forges relationships with companies addressing transition, change, and transformation. He partners closely with clients who require on-demand consulting resources to bridge leadership gaps and propel their business forward. He has experience working with emerging and enterprise-level companies across numerous industries and has depth in functional areas such as finance, accounting, human resources, and operations.