Source: BizActions Whether the economy is cold or hot, some individuals and organizations wind up filing for Chapter 11 bankruptcy. If you stay in business long enough, some of their names will likely appear on your accounts receivable list. When that happens, don’t waste energy being angry or worried. In addition to providing you with […]
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Travel Resorts of America (TRA) provides the highest quality RV membership resorts up and down the eastern United States. Scale Finance provides fractional CFO services for Travel Resorts of America and recently advised TRA in securing a $10 million growth financing for the company. This asset-based loan facility was secured on consumer accounts receivable, and
Scale Finance Closes $10M Financing for Travel Resorts of America Read More »
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Accounting Manager porochnia@scalefinance.com Interim Controller, Priority Staffing Solutions—industrial staffing company, 4 locations; financial statements & compilation, reconciled 941/W3 payrolls & taxes to GL accounts, monthly balance sheet analyses and reconciliations of multiple bank accounts, special projects; worked with TKO accounting & payroll system (2009-2013) Controller, Artform International—POP display start-up manufacturer; supervised AR, AP, PR, cost
CFO & Director johnson@scalefinance.com CFO & Owner – RMK3, LLC Financial Consulting Services—interim CFO services to multiple clients nationally. Chief Financial Officer – Carillon Assisted Living, Raleigh, NC.—North Carolina operator and developer of Assisted Living and Alzheimer’s communities. Chief Financial Officer – Southern Lumber, Inc., Stockbridge, GA—Timbering, land clearing, residential and commercial real estate development
Source: Cody Boyte, Axial Forum There is often a misconception that EBITDA is synonymous with cash flow. While most seasoned deal professionals are careful to remember the distinction, some company owners (or entry-level analysts) can benefit from a friendly reminder. The EBITDA metric gained prominence with the arrival of the LBO industry in the 1980’s, as buyout
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kasina, LLC (www.kasina.com) is a leading business intelligence consultant and thought partner to the asset management, banking and insurance industries with a growing family of over 75 clients spanning five continents and representing over $7 trillion in assets under management (AUM). Kasina provides comprehensive industry data and insights that help financial asset managers structure distribution
Scale Finance Closes Growth Financing for kasina, LLC Read More »
Source: Kim Reisman, OpenView Partners Here’s my take on what to do (and what to avoid doing) as you seek to maintain good and frequent contact with interested VCs. Create a Newsletter Of all of the founders/CEOs I speak with, very few have implemented a dedicated newsletter geared towards potential investors. This is not to
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Source: Brandon Hickie, OpenView Venture Partners With Big Data going mainstream and the cost of data storage and processing precipitously falling, should we expect 2015 to be the year when more B2B SaaS companies move to dynamic pricing models? What is Dynamic Pricing? Dynamic pricing is the process of setting prices for a good or
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Source: CB Insights On average, unicorns-in-training, take five rounds of financing and over $200M in aggregate financing before hitting the billion dollar valuation threshhold. Among VCs, Sequoia Capital leads the way having invested in 10 companies in the billion-dollar startup club globally. Raising financing at a billion-dollar plus valuation has gotten a lot more common.
What Does it Take to Raise a Financing Round at a Billion Dollar Valuation? 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.
