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Former MM PE Backed CFO
@cfo_mm
Middle Market Private Equity Backed CFO. It’s as exciting as it sounds. I have a sub-3% mortgage. [email protected]
Cashville, SC
Joined July 2021
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    Day 1 PE backed CFO starter pack -Memorize the QofE -announce EBITDA margins have significant room for growth -mandate multiple reporting format changes including font revisions -go through all P&L line items and question why they aren't addbacks -shit on predecessor's board deck
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    "So are these real costs?" "Yes, they are real, but you just add them back." "Where do they go then?" "They go just go away - it's called Adjusted EBITDA. We just pretend they are gone" "And then people buy the company based on that?" "Yes, Tucker. It's called modern capitalism."
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    Talk about living the dream.
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    Airport lounges should be exclusive and sparsely filled. Not for every person with a credit card.
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    Welp. It’s true. 6 months in a big public company can kill all the fire in one’s belly.
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    Being a CFO of a private middle market company with no real competitive advantage and liquidity issues
    What’s something people romanticize but it’s actually horrible?
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    Me when a business unit leader tells me EBITDA was higher because there was more depreciation.
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    Every PE guy to CFOs right now: “I know it’s early but do we have a view on how the quarter turned out. Just high level.” Then proceeds to ask for 15 metrics that are largely impossible to know on 3/31 for a global multi-entity business.
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    I sold a company a while ago and the CEO (I was the CFO) insisted we send out the draft docs with a net working capital and a net worth adjustment. I questioned heavily about the net worth adjustment - never saw that before. The CEO (ex-Fortune 500 CFO) ...
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    I’ve been working on something for a while. Everything I wish I had been told before my first role - in a succinct delivery (not some 500 page book). I might even finish one of these years if I get the time.
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    How to speak PE. A guide for new CFOs. Use the word PortCo - the deal team doesn't understand "your other companies"
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    You never hear about these things happening to CFOs.
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    Washing machine pipe froze and busted. Water everywhere. Ceiling underneath that caved in. Downstairs heat broke. So far I've built 4 spreadsheets and it hasn't fixed any of it.
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    The Big 4 first year analyst that was responsible last summer for flying to Amsterdam and checking on the nickel is going to have some explaining to do
    JPMORGAN CHASE OWNED BAGS OF MATERIAL KEPT IN A DUTCH WAREHOUSE THAT WERE SUPPOSED TO CONTAIN NICKEL BUT TURNED OUT TO BE FULL OF STONES - WSJ