The Company
Industry: Manufacturing
Entity Type: Private Equity-Backed
Operating Region: U.S.
Size: $140M
The PROBLEM
The private equity-backed company’s Chief Financial Officer was departing while it was experiencing liquidity issues and had an impending audit.
The Solution
The interim CFO brought over 20 years of experience working with PE-backed companies. This individual had a background in M+A, lower-middle market growth and expansion, and commercial services and manufacturing industries.
The RESULT
The consultant bridged the leadership gap for nearly 12 months, stabilized the finance and accounting department during severe turnover, and helped the organization through its audit.
Remapped Financials for 10 Subsidiaries
Remapped 2022 financials by hand, as the previous program was inaccurately overstating cash by $1.7M. They completed this process for all 10 of the organization’s subsidiaries on seven different accounting systems.
Completed Audit
The interim leader took the organization through its audit, redoing the inaccurate 2022 financials and building accurate, consolidated financials.
New Consolidation Program
Created a plan for the organization to transition to a new consolidation program.
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.