By Michael Schwerdtfeger, Chapman Associates Deals die for a variety of reasons, but the most frustrating are the ones that are entirely preventable. One such example is the application of an appropriate revenue recognition policy. While difficult to understand, failing to implement correct practices can (and does) kill deals. Because of the complexity of the […]
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Source: Rick Smith, WRAL Local TechWire Editor Despite cuts in its own state funding, the North Carolina Biotechnology Center is doubling the size of loans it makes to early-stage life science companies. Why? Lack of private-sector capital, says Peter Ginsberg, the Center’s vice president for business and technology development. “In fact, in many cases, an
NC Biotech Center Expanding Financing Capacity Read More »
14 questions to ask before issuing equity to employees Source: David G. Bates, Contributing Writer, Gunster After representing entrepreneurs for more than 20 years, I remain dismayed at both how quickly and how often they issue equity ownership of their business to co-founders, employees, strategic partners, consultants, and vendors. Overeager entrepreneurs too often use equity
Using Company Equity as Currency Read More »
_________________________________________________________________________________________________________ Travel Resorts of America is pleased to announce the acquisition of Bass Lakes Resorts in New York. The acquisition adds a seventh membership resort to the company and continues its strategy of providing the highest quality RV membership resorts up and down the eastern United States. Scale Finance provides fractional CFO services for Travel
________________________________________________________________________________________________________ WildFire Camera Networks, Inc. (www.wildfirecameranetworks.com) is a pioneer in the development, deployment and management of widespread wireless video camera networks, having sold more than a hundred systems in more than a dozen states. With the financial advisory support of Scale Finance, Wildfire has closed an institutional growth capital transaction through Fulton Bank, the lead
Scale Finance Closes Debt Financing for Wildfire Camera Networks Read More »
_________________________________________________________________________________________________________ Scale Finance continues to expand its professional team across its markets. In the first half of 2014 the Company added in Charlotte, CFO’s Tom Murphy and Ellen Sondee, and Controller Julie Starr. In the Triangle the Company added CFO’s Earl McClanahan and Dave Fouts along with Accounting Managers Alisa Nix and Lisa Maida. In
Scale Finance Growth Continues Read More »
Source: Richard Browne, Professor of Practice, UNCG Bryan School; CMO, ChiefOutsiders Many of us focus staff meetings on the burning operational issues of the day, or on reviewing operational dashboards with little discussions of the 3rd, 4th or 5th “why” for what’s behind average or lackluster performance. Jeff Bezos, when asked during his first meeting
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Source: Joel York, Chaotic Flow Before you let fly with your latest sales and marketing spending spree, make sure you’ve got your eye set on the right targets — aim for the causes of slow customer adoption or churn rather than the symptoms. Every year, SaaS businesses spend millions of dollars on tools and technology
Prioritizing Marketing Spend for Software-as-a-Service Companies Read More »
On May 14th, 2014, Interactive Intelligence Group Inc. (Nasdaq:ININ) closed it’s acquisition of OrgSpan, Inc. Scale Finance’s Managing Director Dave Gilroy advised OrgSpan throughout this transaction. Shortly before the closing, Interactive Intelligence announced the following: Interactive Intelligence to Acquire OrgSpan Acquisition designed to strengthen Interactive’s cloud-based business communications solutions INDIANAPOLIS & DURHAM, N.C. – Interactive
Scale Finance Advises on Sale of OrgSpan to Interactive Intelligence Read More »
Think venture capital investment is the answer to your company’s problems? Think again. Believe it’s the key to growth and success? Not even close. Take it from OpenView, we’re a VC. When companies look for funding they’re thinking of scalability and increased market share, and dreaming of all of the prospects and customers who will
How Venture Capital Can Ruin Your Company 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.
