PE Treasury Advisory
The broader treasury and banking program for PE-backed companies.
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Post-Acquisition Treasury.
Treasury and banking discipline for private equity portfolio companies in the first hundred days after close. Diagnostic, design, negotiation, and implementation.
Post-Acquisition
Treasury and banking discipline in the first hundred days after close.
The first hundred days after a private equity acquisition are when financial discipline is established — or quietly deferred. Firma Advisory works with sponsors and portfolio CFOs to install the treasury and banking framework that converts the value creation thesis into measurable financial outcomes from day one.
Day One Reality
What we typically find inside a newly acquired mid-market company.
No group treasury function
Treasury exists at entity level, if at all. There is no group-level structure, governance, or policy.
Fragmented banking
Multiple banks accumulated over years. No consolidated relationship, no pricing transparency, no negotiation leverage.
Reactive cash forecasting
Cash forecasting is a backward-looking exercise rather than a forward-looking tool.
Hidden FX cost
FX is priced bilaterally with each bank. Material spread can be sitting in plain sight.
Manual financial infrastructure
Reporting and reconciliation depend on individuals and spreadsheets. Operational risk is embedded.
Inherited credit terms
Credit facility pricing reflects a previous owner's risk profile. The new ownership reality has not been priced in.
First Hundred Days
A defined workstream aligned to the value creation timeline.
Weeks 1–4: Diagnostic
Map entities, banking relationships, FX volumes, credit facilities, and financial infrastructure. Quantify the avoidable cost.
Weeks 4–8: Design
Design the group treasury structure, banking model, and reporting framework. Define policy, governance, and decision rights.
Weeks 8–14: Negotiation
Renegotiate banking pricing across FX, fees, payments, and credit. Diversify counterparts where appropriate.
Weeks 14–20: Implementation
Stand up the operating model, transition the team, and document the framework. Hand over to the portfolio CFO.
Outcomes
Visible, measurable, and modelable into the value creation plan.
Direct EBITDA contribution
Banking and FX cost reductions visible in the first quarter post-close, recurring annually through the hold period.
Consolidated liquidity
Group-level cash visibility, daily, with reporting designed for the sponsor and CFO.
Working capital discipline
Working capital framework integrated with the operating plan.
Optimized banking footprint
The right number of banks, in the right roles, with pricing aligned to current scale.
Documented financial infrastructure
Process, governance, and controls documented and audit-ready — supporting the exit narrative.
Accelerated CFO impact
The CFO inherits a working framework, not a financial archaeology project.
Engagement
Who initiates the work
Sponsor / fund
Operating partners and value creation teams looking to install financial discipline as part of the day-one playbook.
Portfolio CFO
Newly appointed CFOs who want senior external partnership in establishing the financial framework.
Joint engagement
Many engagements are structured jointly between the sponsor and the portfolio CFO, with a shared scope.
FAQ
Post-Acquisition Treasury: Common Questions
When should the work start?
Ideally in the weeks immediately following close, while attention and momentum are at their highest. Pre-close scoping is also possible where the deal team wants to be ready to deploy on day one.
Can banking renegotiation happen before the new ownership is reflected in the financials?
Yes. Renegotiation can begin once ownership has transferred. The change of ownership itself is often a useful trigger for revisiting banking conditions.
Does the work continue beyond the first hundred days?
Often. Many engagements extend into a retainer relationship across the hold period, providing senior advisory on treasury, banking, and strategic finance topics as the value creation plan develops.
How is the work coordinated with the sponsor's operating team?
Closely. We work in lockstep with operating partners and value creation teams, with regular updates and clear ownership of deliverables.
Engage
Discuss your financial priorities with us.
A brief, confidential conversation is the most efficient way to determine where Firma Advisory can support your organization.