Chief Financial Officer Jobs

CFO - Hybrid

Stakeholder Overview:

Scott Webb at LCG Advisors is conducting a confidential CFO search for a private equity firm's (“Firm”) portfolio company located in Deland, FL (~25 minutes to beaches). The Firm has a long-standing track record and has raised over $2.2 billion in capital and invested in over 165 companies.

LCG Advisors is a leading transaction advisory and consulting firm specializing in interim management, financial consulting, recruiting and staffing services, business advisory, loan and investment due diligence, investment banking, risk mitigation, and valuations.

Company & Needs Overview:

This role is for a Company recently acquired from a family and founder, a growing manufacturer specializing in producing energy-efficient equipment in the residential pool market. The Company generates ~$30MM in revenue, with ~55 employees.

The Company’s finance department requires a transformation into a best-in-class function designed to support institutional investors. The finance leader must be able to deploy efficient and effective processes for developing financial plans/analyses that ultimately link to strategic objectives. The objective must then be distilled down to initiatives, and actionable project plans to be managed to completion. The finance leader must respectfully champion the initiatives and drive a culture of accountability while not losing sight of the primary core “Customer First” value.

First time head of finance candidates who possess above average determination are strongly encouraged to apply.

Candidate Aspirations:

This opportunity is ideal for a self-motivated, confident, driven, and career-minded finance professional who can keep pace in a PE-backed company. The candidate is seeking a life-changing liquidity event via a successful exit. They are willing to put forth the hard work and dedication required to successfully execute a growth strategy (via organic and acquisition) and prepare a Company for sale. Notwithstanding the former, they also value the opportunity to:

· Build out a best-in-class finance function

· Partner with and execute on a PE firm investment thesis via value-creation initiatives

· Sharpen their Mergers and Acquisitions (“M&A”) experience.

The Role:

The Chief Financial Officer (CFO) reports directly to the CEO, with a dotted line to its Private Equity sponsors. They will oversee finance, IT, HR, Payroll, and the administrative function and start with a department of five: Sr. Accountant, Accountant and two admins. A successful candidate will complete the transitional work, establish the platform to grow sales, and help execute on growth.

The initial foundational work is now complete and the next phase will include executing a transformation plan that includes implementing a new ERP system, instituting a 13-week cash flow, and executing various high-priority items from the value creation plan (“VCP”). This will be followed by a focus on enhancing the periodic (daily, weekly, monthly, quarterly) financial and operational reporting, improving the 6 + 6 bottoms up forecast process, which will ultimately morph into the basis for the 2024 budget.

The role will assist the PE firm with M&A deal execution, help with the transaction accounting (opening balance sheet, post-transaction NWC, PPA, earnouts, and escrows), the finance and system integration, along with implementing a tracking mechanism to monitor integration effort.

It will also oversee the traditional accounting functions such as; financial reporting, treasury, payroll, tax, risk management, and other administrative duties. Key initiatives will include finalizing the cash-to-GAAP conversation and the inaugural GAAP audit.

This role is located in Deland, FL, and work will hybrid (3 to 4 days onsite, depending on needs, plant is closed on Fridays).

The Ideal Candidate:

The ideal candidate will have 10-12+ years of progressive finance experience scaling (organically and M&A) a small to medium-sized business in the manufacturing service industry for a fast-paced PE-backed company. They will have led the transformation of a finance function, including but limited to the following: implementing an ERP system, inaugural audit, and standing up financial reporting for internal stakeholders, PE-Sponsor, and lenders. They will have built a bottoms-up budget from scratch and can forecast the impact of business decisions on financial results. Experience leveraging technology tools to drive continuous improvement is also preferred.

They will have exposure to the M&A lifecycle (diligence, transaction, integration), including post-transaction NWC and escrows. They should be as comfortable in the board room as on the factory floor. They should also be self-confident yet humble enough to know when they don’t know the correct answer and be driven enough to go find it out.

They should also have best-in-class experience in a recognized firm (e.g., public accounting or consulting) or Fortune recognized [or Equivalent] Company), or experience working with institutional investors (PE-backed companies). International accounting experience a plus.

The candidate should possess above-average skills in Excel (sumifs, pivots, xlookup, vlookup, etc..), and be experienced in working with large data sets and multifaceted spreadsheets.

Core Duties/Responsibilities:

· Serve as a business partner to the leadership team of the company.

· Manage accounting operations, including General Ledger, AR, AP, and Payroll, including oversight of the monthly and quarterly close process (P&L, BS, SCF).

· Design, implement, and maintain a best-in-class monthly reporting package, including key financial and operating metrics that deliver operational and financial performance insights.

· Lead the design and implementation of a best-in-class ERP system.

· Lead the deployment of the value creation plans.

· Design and implement the weekly and daily reporting to monitor the company's progress.

· Implement and maintain a 13-week cash flow.

· Lead the annual bottoms-up budget process and the monthly variance analysis. Lead the subsequent forecasting needs to enable business growth and effective decision-making.

· Lead communication and relationships with investors, lenders, and auditors.

· Compliance and governance are in place (Ins. coverage, risk mgmnt, D&O, proper registrations, state & federal taxes).

· Lead the tactical portion of the M&A accounting and integration process

· Establish and maintain internal controls over financial reporting and business operations

· Anticipate issues and prepare solutions in advance of problems

· Automate and optimize processes by leveraging technology to streamline and de-risk

· Champion Core Values: Customer First Approach, Driven, Accountability and Responsiveness, Thoughtful and Respective to Team, Community, and Environment, Passionate about the business

Required Qualifications:

· Minimum of ten-twelve years of progressive experience, including extensive financial planning and analysis (FP&A) experience and a minimum of 2+ in a management position.

· Best-in-class experience in a recognized firm (e.g., public accounting or consulting) or Fortune recognized [or Equivalent] Company), or experience working with institutional investors (PE-backed companies).

· Some experience crafting a message to existing and potential investors, including leading the preparation of investor and board decks.

· Some hands-on operational related experience with deep system and process integration experience, including implementing and or remediating ERP systems.

· Experience building a bottoms-up budget from scratch.

· Experience implementing and maintaining monthly reporting packages.

· Exposure in at least some of the M&A lifecycle workstreams; diligence, transaction, integration, and post-transaction tasks (OBS, NWC, PPA, earnouts, and escrows).

· Experience overseeing and managing liquidity

· Experience overseeing the accounting function

· Possess above-average skills in Excel (sumifs, pivots, xlookup, vlookup, etc..) and experience working with large data sets and multifaceted spreadsheets.

· Experience transforming and building out a high-performance finance organization.

· Excellent communication, writing, and relationship-building skills.

Optional Qualifications:

· International financial management experience a plus.

· Experience building and maintaining an effective cash flow management process.

· Experience scaling (organically and M&A) a small to medium-sized business.

· Experience the manufacturing service industry for a fast-paced PE-backed company.

· Experience in manufacturing and or service businesses.

· Acumatica ERP and QuickBooks system experience is strongly preferred

· Private-Equity Experience

Educational Requirements:

· Bachelor’s Degree in Accounting, Finance or Equivalent

· CPA or master’s degree is preferred

Benefits and Compensation:

· $175-$200k plus an annual bonus of up 25% and equity upside (potentially 7 figures)

· Healthcare benefits, Dental and Vision, 401k