Mulch Manufacturer

Phoenix serves as interim CFO and seamlessly integrates the finance and accounting functions of a newly acquired entity with those of the parent company.

The Client

Our client was a $75 million Mulch Manufacturer headquartered in Maine with operations primarily in the Northeast and Mid-Atlantic that is a portfolio Company of a Mid-Atlantic based private equity fund.

The Challenge

The Company had recently acquired a mulch producer with operations in Virginia and North Carolina, and was struggling with integrating the acquisition.

The Solution

Phoenix Management Services was engaged to serve as interim CFO of the recently acquired entity, and reorganized and re-engineered the tasks, duties and work processes of the accounting and finance personnel, introduced general accounting, finance and treasury practices, integrated the parent’s standard chart of accounts and converted the acquired entity to Great Plains financial reporting software, modified their order entry and sales module, developed cost accounting standards, and prepared a detailed financial forecast.

Within 10 weeks, the finance and accounting functions of the acquired entity had been seamlessly integrated with those of its parent and a full time CFO had been hired. Today, the Company is one of the largest and most profitable independent producer of mulches and soils in the United States.

Phoenix Turnaround

Primary Industry

  • Manufacturing

Secondary Industry

  • Consumer Products

    Primary Services

  • Interim ManagementFinancial Forecasting