Smooth exit: successful outcome for all concerned
After building a successful and highly regarded employee benefits consultancy over a period of ten years, the business owners of Portus had reached the point where they wished to start exit planning. As part of this process they undertook a detailed analysis of all areas of the business, which identified a number of finance-related aspects to be addressed.
What we did
As the founder of the business would be stepping back from the day-to-day activities, it was critical that he had complete peace of mind and confidence around the numbers. To achieve this, a ‘sense check’ of financial controls was required to ensure they were robust. Plus the accuracy of cash flow forecasting needed verifying in order to enable appropriate decision-making. It was also important that high quality financials were delivered, with a truly professional approach demonstrated throughout the entire sale process.
Working together, Grenfell James Associates implemented new sector specific systems to ensure 100% accurate recurring and one-off revenue forecasts and tracking. We introduced a new style monthly management reporting pack, which was designed to be both easy to read and highly visual. We also put in place detailed audit trails to enable easy interrogation of cash flow forecasts, thus minimising the founder’s queries and providing the necessary assurances.
Acting as Consultant Financial Director, Grenfell James Associates oversaw the monthly finance cycle, prepared the monthly financial management pack, attended monthly management meetings and acted as a sounding board for the founder and the CEO. In addition, we helped to prepare financial forecasts ahead of the exit process and delivered ongoing monthly financial management packs throughout the sale process and beyond. The end result was the delivery of a successful exit to a global professional services firm – an excellent outcome for Portus customers, employees and shareholders. Stuart Gray, Founder of Portus, said; “The team at Grenfell James were a pivotal part of the Portus team that delivered a highly successful exit. Ultimately the deal brings together two very strong businesses and the joint team will offer vast expertise and deliver innovative employee benefit products and solutions to the market.”
“The team at Grenfell James were a pivotal part of the Portus team that delivered a highly successful exit. Ultimately the deal brings together two very strong businesses and the joint team will offer vast expertise and deliver innovative employee benefit products and solutions to the market.” Stuart Gray | Founder, Portus
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