Source: WRAL Tech Wire, PWC MoneyTree National Picture Nationally, funding for startups fell 12 percent in the April-June period as venture capitalists poured less money into fewer deals than a year earlier, MoneyTree reported. One bright spot: The number of companies getting funded in the earliest stages of development reached the highest level in more […]
Venture Funding Way Down in Q2 Read More »
Source: Angel Capital Association ACA’s companion organization, Angel Resource Institute (ARI), is pleased to share with you the 1Q 2012 Halo Report: Angel Group Update. Please take a look at several of the highlights from this quarter’s update below and feel free to view & download this report at the Angel Resource Institute Web site.
Angel Market Investment Trends 2012 Read More »
By KNOX PROCTOR, Ward and Smith, P.A. Editor’s Note: Knox Proctor is a member of the Financial Institutions and Business Law Practice Groups at Ward and Smith, P.A. Having trouble raising capital? You know you’re not the only one with this problem when Congress and the President agree it’s a problem and agree on the
JOBS Act – Where Are We At This Point? Read More »
How to Borrow with Honesty, Integrity and the Best Chance of Growing Your Business Long-term Source: Lee N. Katz, The Turnaround Authority & National Vistage Speaker Bankers and business owners can have trouble communicating because their mind-sets are different. As someone who began his career as a banker and who has spent the last 30
10 “C”s of Borrowing – For CEOs Read More »
CFO & Director kennedy@scalefinance.com Chief Financial Officer, COO & Owner (Member of Board) – Perfect Fit Industries, Inc – multi-state locations, $100M manufacturer and distributor of home textile products (2008 – 2011) Chief Financial Officer – Perfect Fit (1996 – 2008) Corporate Controller – Perfect Fit (1991- 1996) Supervisor of Corporate Reporting – BASF Structural Materials – subsidiary of
CED Selects Officers and Board of Directors Members Durham, N.C., June 2012—CED, the Southeast’s largest entrepreneurial support organization, today announced the officers and members elected to its Board of Directors for terms beginning July 1, 2012. Nominations to the Board of Directors were approved by the full CED Board of Directors at the May 2012
SF Managing Director Gary Hayes Elected to CED Board of Directors Read More »
Source: Michael Jacobs and Anil Shivdasani; Harvard Business Review With trillions of dollars in cash sitting on their balance sheets, corporations have never had so much money. How executives choose to invest that massive amount of capital will drive corporate strategies and determine their companies’ competitiveness for the next decade and beyond. And in the short
Do You Know Your Cost of Capital? Read More »
CFO & Director, Scale Finance cousino@scalefinance.com Multiple CFO assignments, Scale Finance LLCfocusing on industrial manufacturing and services companies Multiple CFO assignments, Tatum CFO LLC focusing on manufacturing clients Director, Accounting & Finance, BSN Medical, Inc. $600M global manufacturer of pressure stockings and other products CFO, Freedom Textile, Inc. $25M manufacturer of chemical intermediates and other
CFO & Partner 704-807-6853 starr (at) scalefinance.com Controller, Lincoln Harris, LLC – full service commercial real estate development, brokerage and property management firm Controller, Appian Textiles, LLC – supplier of fabrics to contract and hospitality industries Controller, Laurie Bell Online, LLC – provider of high end outdoor cushions, pillows, rugs and fabrics Controller, Parkinson’s Association
Can a Growing Company Grow Faster While Spending Less Cash (Part 1) Source: Firas Raouf, Open View Partners A lot of growing businesses face a common issue as they advance past the early stages of their development: How can they accelerate growth while concurrently improving distribution efficiencies? In other words, how can they build a
6 Ways to Reduce Customer Acquisition Cost 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.
