Travel Resorts of America (www.travelresorts.com), based in Southern Pines, NC, announced the closing of a $20M Asset Backed Loan (ABL) facility through Liberty Bank. The company will use the proceeds of the loan facility to finance its growing membership receivable financing portfolio used to finance the memberships purchased by new members to Travel Resorts of […]
Scale Finance Closes $20M ABL Financing for TRA Read More »
Scale Finance recently acted as exclusive financial advisor to Carolina Restoration Services “CRS” in connection with its sale to ATI Restoration, LLC (“ATI”), America’s largest family-operated restoration contractor and a national leader in restoration, environmental remediation, and reconstruction services. Operated by Travis and Lisa Bailey, Carolina Restoration Services was founded in 1997. The full-service disaster
Scale Finance Leads the Successful Sale of Carolina Restoration Services Read More »
Peer-to-peer matching platform FX Hedgepool (FXHP) has raised $8 million in Series A funding, led by Information Venture Partners (Information VP), with participation from Fidelity International Strategic Ventures (FISV) and NAventures, National Bank of Canada’s corporate venture capital arm. SF Managing Director, Dave Gilroy, has served FXHP in recent years providing business valuation and corporate
Scale Finance Advises FX HedgePool on $8M Series A Funding Read More »
Source: Scott Brown – Freelance Finance Expert @ Toptal The value of a CFO for a young company is a hotly contested topic. Many argue that they are unnecessary add-ons and that a small, savvy, well-trained financial team can satisfy the business’s needs. On the other hand, CFO’s bring a deeper and more strategic financial
Hiring a Startup CFO – When to Hire a CFO & Why You Need One Read More »
Corporations can generally deduct interest on debts for federal tax purposes. A valid obligation exists if the parties intended to create a debt, and the debt is enforceable and unconditional. In contrast, a capital contribution is a direct or indirect contribution of cash or other property to the capital of a business entity. Generally, a
Owner Financing of Small Companies – Debt or Equity Considerations Read More »
Source: BizActions Mergers are like marriages. Success depends on any number of factors, but failure may be a result of one overriding flaw. In the case of mergers, that flaw often is lack of thorough due diligence. You may be able to get some of the information you need about a potential acquisition from public
Will Your Merger be Blindsided by Fraud? Read More »
Source: Sonya Mann, Mattermark Investors aren’t stupid or lazy, but even thoroughly vetted startups can fail. It’s the nature of venture capital that many investments will never yield a return. Most startups fail, and the money backing them is lost. Only a third of companies that receive seed funding make it to a Series A.
Series C & Beyond: How Growth Investing is Different Than Early Stage Read More »
Source: Elizabeth Weil, Partner, Scribble Ventures (and featuring Andrew McLeod (Co-Founder & CEO, Certn) Most early stage founders learn to run board meetings the hard way — trial and error. And with remote work more common, there hasn’t been a lot shared on how to run a great board meeting over Zoom. So what does
5 Rules for an A+ Board Meeting for Investor-backed Companies Read More »
Southern Pines, North Carolina — Travel Resorts of America (www.travelresorts.com) is pleased to announce the acquisition of Midwest Outdoor Resort. Midwest Outdoor Resorts includes 5 private membership resorts located in Minnesota and South Dakota. The company incorporates 450 acres across those 5 locations, with 576 sites and 72 cabins, and boasts a membership of 5,500
SF Closes Acquisition of Midwest Outdoor Resorts for Travel Resorts of America Read More »
Source: BizActions In our experience, few small companies are careful to report their Statement of Cash Flows along with their Income Statement and Balance Sheet every month. This is an unfortunate missed opportunity to better understand your business and what matters most – cash generation over time. We strongly recommend that CEOs regularly review their
Understanding & Using Your Cash Flow Statement Read More »
Graf Research™ unleashes innovation by developing ideas into disruptive technologies. The Graf mission aims to perform research, provide services, apply analytics, and create products that enable secure, high-performance, embedded, and adaptive computing solutions.
When the Director of Finance for Graf was leaving the company, Graf needed an experienced financial team to get them through the transition. Managing Director Gary Hayes was introduced to Graf and determined that CFO Rendy Richards and Controller John Schefke would be an ideal combination. These two were particularly important because Graf is a U.S. Government contractor, and both Richards and Schefke have strong backgrounds and deep skill sets in this industry.
The two Scale Finance professionals quickly responded to Graf’s time-sensitive need, logically split up the work, learned the DELTEK version used by Graf, introduced more efficient processes and techniques, and helped meet their financial reporting needs. Our professionals also determined that the Senior Staff Accountant was underutilized and helped her grow into a permanent, cost-effective Controller role.
FX HedgePool (FXHP)
FX HedgePool (FXHP) is a New York and London-based highly innovative fintech company. FXHP is an award-winning peer-to-peer matching platform that optimizes the FX swaps market. The Company eliminates market impact and minimizes the effects of volatility – significantly improving outcomes for all investors.
FXHP’s unique credit model separates liquidity from credit, creating a new source of safe and dependable liquidity for the swaps market. The Company exists for the community, guided by the community with a “win-win-win” commitment that helps members, underlying investors, and banks yield safer and better results.
Scale Finance began serving FXHP years ago, providing annual business valuations to support 409A compliance for the Company’s management incentive equity plan. During this period, Scale Finance Managing Director Dave Gilroy advised FXHP about potential strategic corporate transactions. In 2022, the Company decided to raise institutional venture capital. Scale Finance managed this process from end to end, resulting in a highly successful closing of an $8 million Series A equity financing led by Information Venture Partners with participation from Fidelity International Strategic Ventures and NAventures (National Bank of Canada’s corporate venture capital arm).
Scale Finance continues to provide periodic business valuation support.
Heritage Trust
As the first independent trust company in New Mexico, established in 1994, Heritage Trust (HT) uses innovation, experience, and flexibility to meet clients’ needs. HT provides a full range of trust services, e.g., acting as their client fiduciary for their Trust assets, being an executor or personal representative related to the distribution of estate assets, managing and growing financial assets, and preparing annual tax returns for trusted clients.
Co-Founder and Managing Director of Scale Finance Gary Hayes has been providing CFO and managing Controller support since February 2021. We have streamlined their monthly and year-end close process and established budget/forecast capability to support management. Their business has grown over 40% since Scale Finance has been involved with the company’s financial management. Gary has also participated in Board Meetings as and when needed.
Southland Transportation Company
Southland Transportation provides transport, supply chain, and campus management services on a local, regional, and nationwide basis. When Southland contacted Scale Finance, they had a strong accounting staff but no Controller or CFO. After an unsuccessful search for a full-time CFO, Southland engaged CFO and Partner Rendy Richards as their fractional CFO.
Over 18 months, Richards helped integrate a new acquisition, made improvements in accounting and finance processes, developed the company’s first-ever annual budget, helped with the onboarding of a new Controller, and provided business valuations in conjunction with Scale Finance’s Managing Director, Dave Gilroy.
For over six decades, Cooper Electrical has served a wide range of industrial, commercial, and municipal customers across the Southeast, providing best-in-class Electrical Design/Build, BIM, Prefabrication, Instrumentation & Controls, and Calibration services. Cooper’s expertise spans multiple major markets, including bio-pharmaceutical, chemical, water & wastewater, power generation, manufacturing, gas production & transmission, and food & beverage.
When Cooper’s CFO left the company for another opportunity, the owners engaged Rendy Richards as interim CFO while they searched for a full-time replacement. On a half-time basis over eight months, Richards kept the company’s financial organization humming, made improvements in several business processes, initiated a detailed financial forecast, and met with the owners to share his observations and recommendations on the most feasible way to staff their finance and accounting department cost-effectively.
SymmetryRX, LLC
SymmetryRX is a leading provider of eSampling services allowing Pharma Manufacturing companies to access physician practices for the ordering and distribution of drug samples across the US. The Company was acquired in November 2018 from Aptus Health, a wholly-owned subsidiary of Merck. Since then, the company has expanded its robust suite of services that provides pharma manufacturing executives, brand managers, sales managers, product managers, and launch managers the ability to help more patients have greater access to samples, improving medication adherence and healthcare outcomes.
Co-Founder and Managing Director of Scale Finance Gary Hayes has been providing CFO Services to the Company since 2018 and was integral in the acquisition process, facilitated initial financing to support the company with a 7A SBA loan package of $600 thousand and an SBA-backed $300 thousand LOC. Since then, Gary has been actively providing CFO support across financial reporting, budgeting, forecasting, cash planning, and strategic planning.
