CFOx was recently engaged by a lower-middle market Private Equity firm to assist with their newly established logistics platform entity. Post-acquisition, the Michigan-based company needed to set up its accounting system, develop financial reporting, and establish an Opening Balance Sheet.
CFOx’s CFO Services team first focused on setting up the platform’s accounting systems. The new acquisition was operating on a desktop-based accounting software and the parent company needed support with transition to a cloud-based system. The CFOx team set up the new accounting software and entered historical data back to the entity’s inception. This allowed easier accessibility and reporting for the parent company.
The CFOx team then developed a robust monthly financial reporting package to meet investor and lender reporting requirements. This consolidated reporting package included analyses such as budget-to-actual comparisons and covenant tracking.
In addition, CFOx worked with the investors and parent company to establish an Opening Balance Sheet. The team also assisted with the final post-close Net Working Capital True Up.
CFO Services Provided:
- Accounting Integration & Transition
- Accounting Set Up
- Opening Balance Sheet
- Financial Reporting & Analysis
If you would like to learn more about our Transition & Integration services, please reach out via email ([email protected]) or schedule a call directly on our Contact Us page.
