Case Studies

Work That Made a Difference

Four engagements that illustrate the depth and range of what Croftlands Consulting delivers—from averting a liquidity crisis to integrating a $340m acquisition into a FTSE 100 group, and selling an owner-managed business to private equity.

Client names are withheld or described generically in line with confidentiality obligations. The outcomes and specifics are accurate.

PE-backed SaaS · Global · £50m+ ARR

Finance Transformation & Acquisition Integration

The Challenge

  • Finance function unable to support the pace of global expansion
  • Monthly close taking 3+ weeks; management accounts not trusted
  • Three acquisitions in 18 months needed integrating across multiple ERP systems
  • No global transfer pricing framework in place despite cross-border IP holding structure
  • Group statutory audit facing 100+ unresolved queries at the start of the engagement

The Approach

  • Built and led the global finance team (UK, North America, APAC, South Africa) from scratch
  • Automated month-end processes, achieving T+4 close for group management accounts
  • Designed and implemented automated deferred revenue recognition from billing engine data
  • Integrated acquired businesses into NetSuite with full management reporting and controls
  • Designed and rolled out a worldwide transfer pricing policy (IP held in USA and UK)
  • Resolved all 100+ audit queries and delivered the group statutory audit

The Outcomes

  • Monthly close reduced from 3 weeks to T+4—a step change in management visibility
  • Identified and corrected a £500k prior-year restatement during the audit process
  • Transfer pricing framework implemented across all jurisdictions
  • Three acquisitions successfully integrated into group reporting and systems
  • Finance team scaled to support global operations on a sustainable basis
T+4
Monthly close (down from 3 weeks)
£500k
Prior-year restatement identified & corrected
3
Acquisitions integrated into group systems
4
Jurisdictions under one transfer pricing framework
PE-backed Events · UK, Europe & USA · ~£11m ARR

Cashflow Crisis Averted & Finance Function Stabilised

The Challenge

  • PE-backed events group growing rapidly through acquisition with insufficient financial infrastructure
  • Financial data unreliable—management could not trust the numbers being reported
  • Cashflow was being managed reactively; business was approaching a liquidity shortfall
  • US accounting function outsourced at high cost with poor quality and limited group visibility
  • No event-level P&L reporting—impossible to identify which events were profitable

The Approach

  • Stabilised the finance function and materially improved data integrity within the first 60 days
  • Designed and implemented detailed daily 12-week cashflow models with weekly board reporting
  • Used scenario-driven cash modelling to prioritise spend and protect liquidity
  • Centralised the US accounting function in-house, transitioning from outsourced provider
  • Implemented granular event-level P&L reporting (net profit, yield per m², revenue mix)
  • Drove automation initiatives within the finance team

The Outcomes

  • Cashflow shortfall averted—liquidity crisis prevented without recourse to additional equity
  • Centralised US function delivering higher quality at materially lower cost
  • Board and PE investor now receiving reliable, timely management and investor reporting packs
  • Event-level P&L implemented—for the first time, management could see which events were profitable
  • Finance team automation saved approximately 4 hours per week of manual processing
$96k
Annualised saving from US function centralisation
12-wk
Rolling cashflow model prevented liquidity crisis
4 hrs
Weekly time saved through finance automation
0
Additional equity required—crisis averted
FTSE 100 · Global Events & Intelligence · Acquisitions EV $340m & £22m

Finance Integration Programme—Two Acquisitions Simultaneously

The Challenge

  • Two acquisitions completing near-simultaneously required integration into FTSE 100 group reporting standards
  • Acquired businesses operating on different ERP systems (Sage), reporting into SAP FC at group level
  • Take-on Assets and Liabilities required restatement to group policy
  • Integration required rigorous governance with regular Steerco reporting to key stakeholders
  • Bridge required between local US GAAP and Group IFRS

The Approach

  • Implemented a structured integration approach to manage the complexities of integrating two acquisitions
  • Implemented dual reporting infrastructure to support both local and group reporting requirements
  • Rewrote deferred revenue recognition to align with Group IFRS 15 policy
  • Reduced USA target monthly close time from 3 weeks to T+4
  • Established RAID log, integration step plan and regular Steerco governance pack
  • Supported PPA process with external advisers (Kroll)

The Outcomes

  • Both acquisitions fully integrated into group reporting within 6 months of completion
  • First clean group month-end including both acquisitions delivered on time
  • Deferred revenue and earnout accounting aligned to group policy with no audit adjustments
  • PPA completed in conjunction with Kroll and signed off by group auditors
$340m
EV of primary acquisition integrated
6 mo
Full integration timeline for both acquisitions
2
ERP migrations managed simultaneously
0
Audit adjustments on deferred revenue or earnout
Owner-Managed Crane Hire · Sell-Side Exit

Valuation, Exit Readiness & Sale to Private Equity

The Challenge

  • Owner-managed specialist crane hire business with no senior finance capability and an owner seeking an exit
  • Statutory financial statements contained material errors—inappropriate revaluation accounting, no deferred tax raised, disclosure errors—that would not have survived buyer due diligence
  • No credible valuation, budgets or forecasts on which to base a sale process
  • Fixed asset registers and instalment sale agreements needed rebuilding to support the numbers
  • Crane fleet financed piecemeal through instalment sale agreements across many different finance providers, at high cost and with no consolidated view of the debt
  • Owner had never run a corporate sale process—NDAs, exclusivity and diligence all unfamiliar territory

The Approach

  • Acted as outsourced Finance Director—responsible for finance, statutory reporting, budgeting, internal controls, tax resolution and all legal and financier relationships
  • Corrected the statutory financial statements and rebuilt the plant and equipment registers so the numbers would withstand diligence
  • Restructured the balance sheet—consolidated the fleet debt and refinanced it with asset-backed facilities from a single provider at materially reduced rates
  • Prepared an EBITDA-based valuation and authored the Information Memorandum in-house
  • Engaged Mazars to run the buyer search; managed NDAs and successive exclusivity agreements
  • Compiled the due diligence pack and acted as single point of contact for all financial queries through to the share sale agreement

The Outcomes

  • Business taken from unprepared and owner-managed to fully exit-ready
  • Debt consolidated from many finance providers to one asset-backed facility at much reduced rates—a cleaner, cheaper balance sheet taken to market
  • Sale to a private equity fund completed
  • Financial statements, asset registers and contracts withstood buyer due diligence
  • Owner achieved a structured, adviser-led exit rather than an opportunistic sale
Sold
Business sold to a private equity fund
5
Material AFS errors corrected before going to market
IM
Valuation and Information Memorandum authored in-house
1
Finance provider after consolidating multi-lender fleet debt at reduced rates

Facing a Similar Challenge?

Whether it’s a liquidity crisis, an acquisition to integrate, a business to prepare for sale, or a finance function that has not scaled with the business—let’s talk.

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