Drawing on our consulting, public accounting and industry backgrounds, we design practical solutions and implement the change our clients need to achieve exceptional results.
As Riveron has grown, the ways we serve our clients has only expanded – we continue to add capabilities and develop new solutions that meet the dynamic, and evolving, needs of our clients.
Riveron takes on a leadership role to navigate a company through a period of distress
In 2015, the parent entity of Terraform Power and Terraform Global, owners and operators of renewable energy power plants, declared bankruptcy. This event necessitated a sale of both entities. Riveron was engaged shortly after the bankruptcy to ensure continuity of operations, implement process improvement initiatives and ready the organization for the eventual divestiture. For Terraform Global, Riveron took over key roles and responsibilities, including interim accounting leadership and worked for over a year to keep the organization running and streamline financial reporting processes while partnering with management to assist with the strategy and execution of the sale process. When the sale was complete, Riveron transitioned its roles to the new owning entity, providing five months of ongoing and transition support.
Riveron guides company through SEC regulatory requirements
Riveron assisted American Midstream Partners, LP, a $650 million public midstream partnership, with ongoing US GAAP and SEC financial reporting assistance, audit support and complex accounting implications following various acquisitions and divestitures. From drafting technical memos, to assisting in the preparation of the Company’s Form 10-Ks and 10-Qs, Riveron helped to guide the Company through various complex matters specific to their business ensuring SEC regulatory compliance. Riveron then participated in management’s discussions with the external auditors to support the Company’s accounting and financial reporting to successfully complete the year-end audit.
Riveron optimizes financial processes resulting in cost savings
Riveron guided an environmental waste management company, a portfolio company of the Private Equity client, in their efforts to improve cash flow visibility, alleviate daily borrowing availability issues, and re-engineer their procure-to-pay process with an emphasis on reducing the Company’s outstanding A/P balance. Riveron optimized the Company’s financial situation by developing new FP&A tools, creating a procure to pay future state roadmap, shifting external services in-house and automating the borrowing base template – the latter resulted in increased borrowing availability of $200-300k and allowed the CFO to shift greater focus to strategic initiatives.