MC Sign Company, one of the largest sign companies in the Midwest providing signage, lighting, and maintenance services throughout the US, Canada, Mexico, Puerto Rico, and Guam, has closed on the acquisition of Acken Signs, Inc., a Division of Rabbit Creek Partners, LLC. Scale Finance advised Acken during the course of the process. The breadth […]
Scale Finance Advises on Sale of Acken Signs, Inc. Read More »
Scale Finance LLC announces the hiring of senior professional Christopher L. Ciccone in support of the firm’s expansion to Fayetteville, NC. “We are thrilled to have Chris join our team,” said Gerhard Renner, Managing Director. “We now have highly experienced practice teams in every major market in North Carolina, which we can use to better
Scale Finance Expands in Fayetteville Read More »
By Riaz Karamali and Camille Formosa One of the most common agreements entered into by an emerging company is the confidentiality agreement, also known as a non-disclosure agreement (“NDA”). You are likely to routinely be involved in discussions with third parties about possible collaboration or partnering, and in these situations it is customary (and
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The 2010 angel investor market saw a robust increase in investment dollars following a considerable contraction in investment dollars in 2008 and 2009, according to the 2010 Angel Market Analysis released by the Center for Venture Research at the University of New Hampshire. Total investments in 2010 were $20.1 billion, an increase of 14 percent
Angel Investment Up 14% Read More »
Source: Neil Gordan, Senior Controller & Director, Scale Finance LLC Cold, hard cash—it even sounds good. Remember when you were a kid: Did you ever play a game where the object was to see who could hold the most coins in one hand? Well, some of your employees may still be playing that game—only this
Critical Best Practices in Internal Controls: CASH Read More »
Source: Firas Raouf, OpenView Partners One of the turning points in the life of an early stage software company is the creation of a board of directors. Typically, this happens when the company raises its first institutional round of financing. But I see no reason to wait for that event. When you think about building
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Questioning conventional wisdom, along with a willingness to shift gears, has helped fuel HubSpot’s rapid growth – By Lisa Beets Brian Halligan and Dharmesh Shah are co-founders of HubSpot, Inc., Cambridge, MA. Brian serves as CEO and Dharmesh as CTO. They founded the company in 2006 after meeting at MIT two years earlier. The company
Scaling HubSpot: Conversation with CEO Brian Halligan Read More »
As companies begin to grow and continue to scale, there are a variety of issues that they face. But there’s one thing that all businesses need to monitor, regardless of their growth stage or size. Whether it’s a start-up or a major corporation, all companies need to maintain a robust sales pipeline. At the expansion
How to Use Referrals to Keep Your Sales Pipeline Full Read More »
Bloodhound Technologies Sells to Verisk Analytics for $82M Acquisition Will Enhance Healthcare Fraud Analytics JERSEY CITY, N.J., — Verisk Analytics, Inc. (Nasdaq:VRSK), a leading source of information about risk, announced today it has closed its acquisition of Bloodhound Technologies, Inc., a premier provider of real-time pre-adjudication claims editing for healthcare payers. Based in Durham, North
Congrats to Bloodhound Technologies on Sale to Verisk for $82M Read More »
Venture Capital Investment Dollars Up in NC, Southeast, and US Venture capital deals and funding increased in the Research Triangle Park area in the first quarter this year with early-stage companies making a strong showing. NC’s Triangle region equity fundraising included eight investments totaling $97 million according to PriceWaterhouseCoopers. PwC didn’t include a $30 million
Improving VC Environment in Q1 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.
