Source: Dan Hammaker, Axial Markets Competition does not preclude cooperation – just ask Apple. Even if doing business with a competitor would be unreasonable, considering rival companies when developing an exit plan can prove profitable. In many cases, competitors are the best option for a selling business owner and ultimately make great acquirers. However, selling […]
5 Things to Consider When Your Competitor Makes an Offer Read More »
Source: Amy Smith Although most tax professionals and software companies would like to see one uniform methodology applied to the treatment of software for sales tax purposes, the states continue to present challenges to compliance for sellers of software and software as a service. More states are aggressively pursuing audits of software companies to address
Revisiting Sales Tax on Software Read More »
Controller maida@scalefinance.com Controller – Scale Finance, LLC – 2014-Present—Provide Controller level and general accounting services to multiple clients. Responsibilities include preparation of financial statements, cash-flow and financial budgets, transaction processing and review and maintenance of Deferred Revenue, Accounts Payable, Accounts Receivable, Payroll, Fixed Assets, and bank/credit card reconciliations. Controller – Tri-Tech Forensics, Inc. – 2014-2018—Responsibilities
Source: Rob Go, Cofounder, NextView Ventures Every time I see blog posts referencing multiples on VC investments, I wonder if writers or readers appreciate how hard it is to generate these kinds of multiples and how multiples should really be calculated. Obviously, the way to calculate a return multiple is to divide the amount returned
How Hard is it to Earn a 10X Return on Investment? Read More »
Senior Controller trever@scalefinance.com Controller, CFO & financial management roles with small to medium-sized, privately-held family-owned growth companies ranging from $5MM to $30MM in revenues in manufacturing and distribution businesses including: Embers Charcoal (charcoal briquettes manufacturing and distribution) New Filcas of America (gift wrap printing & distribution) and Freud Tools (distribution of woodworking tools) Full charge
CFO & Director baker@scalefinance.com Scale Finance, LLC Research Triangle Park, NC: CFO (2017—Present)—Providing part-time and project based CFO services to multiple clients in various industries Clean Design, Inc., Raleigh, NC: CFO (2017—Present)—CFO for integrated branding agency, providing fractional CFO services. Hatteras Funds, LP, Raleigh, NC: CFO (2008—Present)—Chief Financial Officer for registered investment advisor. Managed financial
Senior Controller waters@scalefinance.com Scale Finance, LLC Research Triangle Park, NC: CFO (2017-Present)—Providing part-time and project based Controller services to multiple clients in various industries with focus in tech/SAAS based entities. Director of Financial Planning & Analysis, Eco-Site, LLC (2017)—Compiled financial reporting for internal and external purposes. Prepared financial forecasting and modeling to monitor KPIs. Participated
Raise debt or equity capital on best terms market will bear
Raise debt or equity capital on best terms market will bear Read More »
Embedded, organic service—100% on-site and hands-on
Embedded, organic service—100% on-site and hands-on Read More »
Flexible, part-time solutions—use more or less as needed
Flexible, part-time solutions—use more or less as needed 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.
