Source: Mark Borkowski , Mercantile M&A Business owners can face a variety of challenges when approaching a liquidity or financing event. Sometimes their need for financing is driven by an unexpected slowdown; other times the need for financing is for acquisition or growth purposes. But more often than you might think, a need for capital […]
9 Alternative Sources of Financing Read More »
Source: Jeff Solomon, CPA, CVA, Managing Partner, Katz Nannis + Solomon, PC Early stage investors are often asked to sit on boards, and many sets of investment terms require that outside investors sit on the key board committees. But what’s involved in being on an Audit Committee, and how do you do it right? Let’s take
What Makes a Good or Bad Audit Committee? Read More »
Source: Billy Fink , Axial Forum Growth is a driving factor for all companies — whether they are one year old or a hundred years old. There are two key ways to achieve growth: organically or inorganically. While both strategies seek growth, they vary based on available resources and speed of expansion. Deciding between organic growth
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Oneliance Group, LLC, a fast growing regional provider of construction site cleaning, staffing, and maintenance services was acquired by a private family office. Scale Finance provided accounting and finance due diligence and transaction advisory support throughout the company sale process. David Gilroy, SF Managing Director on point for the work, said, “We are delighted to
Scale Finance Closes Acquisition of Oneliance Group, LLC Read More »
Family Care Partners (FCP), headquartered in Fort Mill, SC, has acquired a majority interest in Eastern North Carolina Medical Group, a primary care practice based in Rocky Mount, NC. FCP was formed in 2015 by Varsity Healthcare Partners (VHP) in connection with its recapitalization of Colonial Family Practice, one of the largest providers of primary
Scale Finance Advises on Sale of Eastern NC Medical Group to Family Care Partners Read More »
Source: Tom Goldblatt, Managing Director, Ravinia Capital Ravinia Capital Founder Tom Goldblatt provides insight into selling a troubled company, explaining why a series of thoughtful considerations must be put forth and followed before there can be any realistic expectation of achieving a “best possible” outcome. Traditionally, only a few restructuring solutions have worked for stakeholders
Selling a Distressed Company – Achieving a “Best Possible” Outcome Read More »
Source: Jeff Villwock | Villwock Advisory Services Raising capital for a business, whether it is a start-up or a mature company, can be an extraordinarily frustrating and time consuming experience. Entrepreneurs want to operate and grow their business, not raise capital. But the fact is that for most businesses, the entrepreneur or CEO is responsible
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Source: Jeffrey Kadlic, Evolution Capital Partners One of the most important elements of growing your business is having the right people involved and engaged. The right people bring innovative ideas, create opportunities and help the company move forward faster toward its stated objectives. In fact having the right people involved is arguably more important than having
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Leading-edge technology provides core system for insurance data management Duck Creek Technologies, a leading provider of core system cloud services and software to the global Property and Casualty industry, has announced the acquisition of Yodil, LLC, a pioneer in insurance data management solutions. The agreement further cements Duck Creek’s full suite market positioning. Scale Finance’s
Scale Finance Closes Sale of Yodil, LLC to Duck Creek Technologies Read More »
Controller migdal@scalefinance.com Director of Accounting, FDH Velocitel/FDH Engineering, Inc.-(2010-2016)—$90M engineering firm providing services to the telecommunications industry nationwide. Responsibilities included oversight of month/year-end close, annual audit, and financial reporting. Managed 8-person accounting team. Worked with executive team to complete due diligence for acquisition as well as integration of companies post-acquisition. Functioned as division lead on
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.
