Hanny Akl and David LeGrand Featured on Private Equity Value Creation Podcast
Hanny Akl, CPA, CFE, CEPA, CVGA, and David LeGrand, CPA, of the firm’s Birmingham accounting and advisory office, were recently featured on the Private Equity Value Creation podcast.
The Private Equity Value Creation podcast is a resource that provides behind-the-scenes access to the minds shaping the world of private equity, so that business owners can hear stories about investment transactions and learn how to drive sustainable growth and create enterprise value.
The podcast helps listeners enhance investment acumen, grow PE-backed businesses and stay informed about the latest trends.
In the podcast’s seventeenth episode, Akl and LeGrand joined a panel of tax, legal and accounting experts to discuss the essential legal and finance work it takes to set a business up for a successful exit.
The panelists discussed what many business founders get wrong, the importance of GAAP, when to start getting finances in order and how business founders can balance preparing for an exit with the pressures of limited resources. The panelists agreed on the importance of setting up a data room, which is a secure place for storing privileged information.
When asked about critical things for data room preparation, Akl said, “Get your financial house in order because there is a lot to do there. Getting your financials together is important, but make sure you’re documenting everything that you need—or that a buy-side is going to be looking for—just so they can get assurances that you’re following processes and procedures.”
LeGrand covered things from the tax perspective. The five things he sees (and that business founders should be wary about and prepare for) are S-elections, the status of sales and use taxes, state and income taxes, R&D expenses and the employee retention credit (ERC).
“On the tax side, it’s about prioritizing. If we can pick out the biggest two or three tax issues over a couple of years to work on, I think that can provide a nice return when you get ready to go to market,” said LeGrand.
Hanny Akl leads the firm’s Transaction Advisory Services Practice, which focuses on both buy-side and sell-side transactions, along with advising owners on creating value within their businesses. Akl supports clients in all phases of their business and transaction life cycles. He works with a variety of clients, including private equity, closely held and public companies.
David LeGrand is a Member in Warren Averett’s Tax Division and has more than 19 years of public accounting experience. His responsibilities include consulting on federal and state corporate and partnership tax matters, as well as mergers and acquisitions and transactional work. LeGrand works with clients to plan for tax-efficient transactions and opportunities in the law to save on ongoing operations year-round.
Warren Averett’s Private Equity Industry Group understands that clients face complex challenges and that successful deals depend on the ability to move quickly to create value through the transaction lifecycle. Our experts can address this and help clients navigate the ever-changing economy. Contact an expert today.
Listen to the full podcast here. Learn more about Hanny Akl, David LeGrand or our Birmingham CPAs and advisors.