Following a take-private transaction, a publicly traded pharmaceutical company with ~$200M in revenue
wanted to:
1
Adopt a new basis of accounting under a compressed timeline
2
Issue financial statements on time to avoid debt refinancing at a significantly higher rate
3
Free management to focus on operations while navigating audit support
Approach
Monomoy deployed resources from its Technical Accounting practice to:
- Embedded alongside management as integrated team members, not external consultants
- Owned business combination accounting, valuation documentation, and end-to-end audit support
- Addressed ad hoc accounting analyses, supporting schedules, and broader financial reporting needs as they arose
Results
Financial statements were completed on time, avoiding massive penalties and eliminating the need to refinance debt at a significantly higher rate. Audit-ready documentation accelerated the audit process and freed management to focus on day-to-day operations. The engagement positioned the client for ongoing success, including monitoring areas requiring revalidation each reporting period. The finance team was recognized by the new owners for the quality of the effort, with the client noting they “could not have done it without Monomoy.”