The Company
Industry: Consumer Products
Entity Type: Privately Held
Operating Region: U.S.
Size: $30M
The PROBLEM
As the company prepared for a year-end sale under a Letter of Intent (LOI) with a private equity firm, they needed someone to lead due diligence, oversee the quality of earnings process, and deliver GAAP-compliant financials. They also needed a strategic finance partner to produce timely, accurate financial documentation and lead the company through the transaction process — critical to closing the deal within the 90-day target.
The Solution
McDermott + Bull Interim Leaders placed a seasoned CFO with public and private company experience across growth and PE-backed environments. The interim leader focused on establishing the financial infrastructure and reporting rigor necessary to complete the sale, including valuation methodologies and financial restatements.
The RESULT
The interim CFO delivered GAAP-compliant financials, implemented a defensible inventory valuation methodology despite the lack of an inventory system, and played a central role in ensuring financial readiness. Their work ensured financial integrity and supported the successful closing of the sale.
4 PERIODS RESTATED
Made AJEs and restated financials for 2022, 2023, YTD 2024, and stub periods to align with audit standards and buyer expectations.
90-day deal close
Delivered all due diligence and financial deliverables within the 90-day timeline, including working capital and indebtedness estimates required for finalizing the transaction.
Deal Execution and Price Adjustment
Enabled a successful close of the sale; despite a $5M price reduction due to corrected financials, the interim managed working capital estimates and financial targets to finalize the transaction.
James Hickey
Senior Managing Director, McDermott + Bull Interim Leaders
hickey@mbexec.com
James Hickey serves as a Senior Managing Director for McDermott + Bull Interim Leaders, helping companies with mission-critical needs for talented executives during key points in their life cycle. He also works closely with Private Equity Groups to help their portfolio companies when there are gaps in leadership or to provide additional support to the team during critical transactions.