Case Study

Service Line: Business Advisory


The owners of a small technology company determined that it was time to start exploring a potential exit and sale of their business.  Wanting to maximize the value of their business, the owners brought in a team of advisors, including PBO Advisory Group, to help them through the preparation for a future exit transaction. We also assisted the company when an unsolicited offer was received shortly after we completed our initial services.



Crucial of the exit process was the company’s need to properly evaluate and present its financial and business history as well as future projections.  PBO Advisory was retained to evaluate, clean-up, and prepare financials so that prospective buyers would have a thorough understanding of the company’s earning capabilities. Soon after completion of the preparation phase, the company received an unsolicited offer from an international buyer which required additional services from PBO Advisory.


PBO Advisory worked with the company to provide a clear understanding of its historical, current and future financials.

The team also participated in many facets of the due diligence and transaction phases of the sale of the company, including:

  • Managing vast amounts of documents provided by both the buyer and sellers
  • Analyzing the offer and forecasting the expected after-tax proceeds the sellers could expect, while working closely with a capital advisory firm. Supporting legal counsel by preparing the first rough draft of the stock purchase agreement disclosure schedules
  • Working closely with the corporate teams, the tax and purchase valuation teams, and the auditors throughout the transaction phase


After 14-months of a well-orchestrated process for preparation and due diligence, the company’s sale was completed.   

PBO Advisory’s contributions were recognized by both parties and they were retained to provide assistance post sale.  We were retained to do a variety of consulting projects including   developed a business plan in the buyer’s requested format. We also calculated the closing and final net working capital with a mid-month close and closing workbook, and implemented international financial reporting standards (IFRS) to all financial reporting, which required PBO Advisory to draw upon our international capabilities.

Additionally, we integrated all the reporting into the buyer’s partner company’s template, and also supported a third-party valuation firm in determining the fair value of the opening balance sheet and goodwill as well as provided financial planning, reporting, and analysis for the parent company.

PBO Advisory’s outsourced accounting team provided CFO services to several entities, including an international operation, and our human resources team provided domestic services.