Manufacturing and Industrial Products
Manufacturing and industrial products is one of the most mature industries globally, but sweeping changes in technology, automation and globalization have forced companies to evolve at a rapid pace. Companies must invest in more M&A, big data, information technology systems and other strategic initiatives than ever to stay competitive on the global landscape.
Riveron partners with clients ranging from startups to global leaders in a variety of manufacturing settings to improve operations and finance functions to support sustained growth. Leveraging our deep manufacturing and supply chain experience we ensure transparency into and analyze metrics surrounding direct and indirect product costs, fixed versus variable costs, capital expenditures, make vs buy analysis and other key performance indicators. By developing, implementing and improving our clients’ processes, leading technology enablement projects and providing a full suite of back-office accounting leadership and transformation services, we drive our clients to prepare for change.
Key manufacturing and industrial product areas we serve include:
- Heavy industrial
- Energy-adjacent products
- Building materials
- Medical devices
- Aerospace and defense
- Food and beverage
- Chemical and petrochem
- Wood and forest products
Riveron implements Blackline technology for Fortune 500 Company across 30 countries
A global engineering firm with approximately $15B in annual revenue was looking to accelerate their monthly close process and gain insight into their reconciliations spread across a large number of countries. Riveron was engaged to implement BlackLine’s Financial Transformation solution across 30 countries, 560+ entities, and 300+ users. The company was reconciling 24k+ accounts and performing variance analysis over 70k+ accounts utilizing the BlackLine platform.
The implementation plan was customized to work around the integration of a $5B acquisition onto a single instance of Oracle. This included coordination with the company’s IT team to establish system interfaces as well as a separate go-live date for the acquired company.
Riveron also developed and delivered customized training for both users and administrators. The trainings were delivered to users across the globe and were supplemented by a customized, detailed desktop procedures manual. User questions and issues were also supported for several months subsequent to the system go-live date.
Some of the implementation successes included:
- Launched globally with recs & tasks in 2 months
- Achieved 60+% auto-rec 2 months post go-live
- Utilized Bottom-up (opposed to top-down) variance analysis approach
- Identified numerous P&L mapping errors in consolidated financials
- Developed unique org structure allowing for different acct vs variance segment combination
- Trained and received buy-in from management and users around the world
- Identified ways to utilize matching to reconcile to individual project ledgers
Riveron navigates company through the 144a process and ultimately an IPO
Riveron assisted Foundation Building Materials, a $2.1 billion building materials distributor, providing technical accounting, financial reporting and audit support to prepare annual and quarterly historical financial statements for the registrant and multiple significant investments on extremely accelerated timelines. Riveron also assisted in preparing and coordinating documentation for the S-1, road show and client data room. Successfully executing the detailed project plan on the short time line resulted in the client accessing the capital markets to fund growth quickly and effectively.
Riveron manages carve-out and IPO readiness for new company
A €30 billion German cement and aggregates company chose to divest its non-core building products business line, Lehigh Hanson. The Company engaged Riveron to assist with a dual-track divestiture, including carve-out and conversion from IFRS to US GAAP, subsequent public registration and liaison of the dual-track sale process for the Company’s negotiations with private equity investors. We managed the separation strategy to stand up the carved-out entity, assisted with SOX readiness, provided technical guidance, and produced SEC-compliant financial statements. Ultimately, Riveron publicly filed the Company’s registration statement with the SEC on an aggressive timeline and assisted with the sale of the Company at a favorable price.
Related News & Insights
In today’s deal landscape, risk mitigation is critical to closing transactions. During due diligence, workstreams are compartmentalized and assigned to specialists in legal, financial and other subject matters. However, one focus often remains unexamined: the myriad of operationally-driven risk factors that could undermine the deal thesis.