CFOx recently provided Interim CFO services to a lower-middle market independent sponsor during their acquisition of a premium manufacturer of a variety of waste containers. The Pennsylvania-based company had been acquired from a former owner-operator who had historically handled their own accounting on a cash basis.

CFOx’s CFO Services team quickly provided management and investors professional and timely financial reporting packages, converted the financials from cash to accrual basis, and established the opening balance sheet. The new financial reporting package allowed investors to continue viewing business trends, with historical financials adjusted with Quality of Earnings adjustments to view trailing twelve-month performance.

The CFOx team also collaborated with management to develop a KPI dashboard that was monitored monthly during management review meetings. With the new reporting tools, the company was able to identify operational factors that would drive higher earnings and improve cash flow and could quickly implement these changes.

Lastly, CFOx supported the company with budget development, sales tax filings in over 30 states, an opening balance sheet audit and several other accounting improvements. When the company hired a full-time Controller, the CFO services team provided training and onboarding and a complete financial reporting framework that could be used going forward.

By creating this framework and structure early on, the Company was able to quickly identify and begin implementing a new ERP system and consider additional add-on acquisitions which would not have otherwise been possible without financial visibility and timeliness of reporting provided by CFOx.

If you would like to learn more about our CFO Services, please reach out via email (info@cfoxadvisory.com) or schedule a call directly on our Contact Us page.

CFO Services Provided:

• Interim Staffing
• Historical Accounting Clean Up
• Robust Financial Reporting and Analysis
• Post-Close Integrations & Transitions