How a Fractional CFO Helped PrecisionPoint Achieve a Successful Exit

“It’s key to focus on your core competencies and I couldn’t do it all on my own. I was able to get 20% of a CFO’s time, literally the best of the best, at a fraction of the cost. When thinking about Curt, the one word that comes to mind is trustworthiness.”

The Situation

Mark Hanna founded PrecisionPoint in 2010 and built it into a premier provider of 3D reality capture scanning services. He had wisely outsourced HR and controller functions, but when COVID hit in 2020, he realized his company lacked strategic day-to-day financial leadership. His EOS implementer flagged the vacant CFO seat on the accountability chart, and shortly after, a chance coffee shop encounter with fractional CFO Curt Wible led to an introduction to FocusCFO's local Area President and the start of a two-and-a-half-year engagement.

What We Did

Embedded one day per week as a trusted strategic partner, their FocusCFO CFO:

• Filled the strategic finance seat and participated in EOS quarterly meetings
• Designed and implemented an incentive compensation program to drive growth — a challenging but pivotal change that caused EBITDA to soar
• Guided personnel restructuring decisions with confidentiality and care
• Leveraged the broader FocusCFO network for specialized expertise across tax, M&A, and exit strategy
• Led due diligence with the buyer's national CPA firm, resulting in explicit praise for the quality of the books and the diligence package
• Contributed to a sale multiple estimated to be two points higher than it would have been without CFO involvement

The Result

PrecisionPoint was sold to a strategic buyer in February 2024. The buyer's M&A contact specifically commended the quality of the financial records — a direct reflection of the work done throughout the engagement.

"Curt was always there for us when needed and felt more like a PrecisionPoint employee than a part-time consultant. One of the biggest, unexpected benefits from working with Curt was that we became friends; we were having fun and continuing to build out my business."

— Mark Hanna, Founder, PrecisionPoint

Benefits of Hiring a Fractional CFO

Some of the things that Mark liked best about FocusCFO were that we were:

• Embedded within his business. Even though Curt was only there one day a week, Mark felt like he could call on him at any time for advice.
• With more than 180 CFOs in the system, Curt was able to leverage the thought leadership of the other professionals in the FocusCFO network when required.
• Curt always kept the end goal in mind of getting the business to the point where there could be a successful exit.
• FocusCFO kept working to move the company up the Value pyramid toward sustainable, transferable value.

Are you ready to learn how a Fractional CFO can help prepare your business for a successful exit? Schedule a complimentary consultation today.