Finn Partners is a full-service marketing and communications firm, providing a broad-range of clients with branding, advertising, public relations and research services. Finn Partners has over 600 employees, offices across 3 continents and annual revenue of $33 million. Winter Harbor was commissioned to assess Finn Partner's business operations.
Winter Harbor was hired by Finn Partners to perform a comprehensive assessment of operations and present findings to the Company's financial lender. In detail, we:
- Assessed viability of budget and cash flow forecast.
- Tested impact of deviations from the projections on financial performance, liquidity and collateral.
- Reviewed terms, conditions and financial forecasts for planned acquisitions.
- Reviewed compliance with credit facility and borrowing base.
- Assessed options to improve liquidity.
- Developed written assessment of findings and present such findings to the company and the lender.
During our client engagement, Winter Harbor identified limitations in the ability of Finn Partners' management to forecast cash flow and anticipate liquidity needs. To balance future forecast deviations, we recommended that Finn Partners add a treasury function. Our assessment findings were taken into account by Finn Partners and its lender as they developed execution risks for 2018 and 2019.