Client Brief

A French based global manufacturer of packaging for FMCG businesses was sold to a financial sponsor by its conglomerate parent. The resulting carve out lacked a stand-alone treasury function and while temporary transition arrangements existed for a period after the acquisition, management engaged PMC to assist with the establishment of a new treasury function.

PMC Solution

• Develop a cash management framework covering forecasting, intercompany funding, and the implementation of a cash concentration structure;
• Establish processes for opening and closing bank accounts, setting up bank guarantees and letters of credit, and negotiate local facilities;
• Implement currency cash flow forecasting, hedging processes and reporting;
• Establish debt management processes including covenant compliance, debt servicing and reporting;
• Document treasury policies and procedures.

Results & Recommendations

Our involvement allowed the expedient establishment of a fully functional and independent treasury operation.