Service(s) Provided:
Merger and Acquisition Integration, Finance & Accounting Support
Situation:
The Client is a mitigation and restoration company located in Houston, Texas. The Client’s services encompass a wide range of residential and commercial options, including professional mold, fire, smoke, and water damage restoration, air duct cleaning, reconstruction, and more. The Client completed an acquisition in August 2024 and sought Vector’s assistance to support pre-close integration planning, post-close integration management, and finance and accounting support.
Vector’s Approach:
M&A Integration: Vector Advisory provided acquisition integration support, including establishing merger integration governance and facilitated integration planning and execution activities. Vector established a structured M&A integration process and facilitated the development of integration plans and procedures that helped guide a successful integration. Additionally, Vector provided Integration Management Office (“IMO”) leadership and support, as well as fundamental project management, facilitation, and execution support, as requested for the target.
Finance & Accounting Support: Vector was engaged to provide finance and accounting support for the Company’s recent add-on acquisition, including performing a cash to GAAP analysis of the target’s accounting policies to identify and remediate compliance gaps and provide operational accounting support to achieve the integration requirements between companies to ensure consistency in month-end close and reporting activities.
Results:
M&A Integration: Over a period of 5 months, Vector Advisory developed an M&A Integration Playbook to support the acquisition and ensure a successful integration, as well as establish the foundation for a repeatable process for future M&A activity.
Vector’s leadership led to additional value in supporting the execution of integration tasks and technical accounting procedural implementation to ensure GAAP compliant accounting.
Finance & Accounting Support: Over a 7-month period, Vector’s CFO Advisory Team worked closely with the Client to prepare post-close accounting deliverables, including opening balance sheet work, preparing the final closing statement, and supporting the execution of finance and accounting functional integration tasks.
Additionally, the Vector Team provided finance and accounting support including project cost analysis on project cost of goods sold, WIP calculations, percentage of completion, finalized adjusting journal entries, migration of QuickBooks instances, month end close, and prepared the Client for their first-year audit.