The Company is a commercial enterprise providing printing, direct mail, envelope, labeling, and promotional solutions designed to support targeted, integrated multi-touch marketing campaigns. Its operating model combines large-scale production capabilities with marketing execution services, positioning the business as a strategic partner to customers seeking coordinated customer outreach across multiple channels.

In advance of the Company’s first external audit and in support of a contemplated refinancing of its existing debt, the Company engaged FDP to provide advisory services focused on transactional accounting and financial statement reporting. The assignment centered on reviewing and preparing key journal entries and addressing the accounting implications of 13 acquisitions completed over four years, with particular emphasis on purchase accounting under ASC 805 and the impact of those transactions on both reported results and lender-facing financial disclosures.

FDP’s work spanned a range of complex accounting matters that had direct bearing on purchase price, net working capital, and the integrity of the consolidated financial statements. These matters included the evaluation of successful and unsuccessful sale-leaseback transactions under ASC 842; transfers and consolidation issues under ASC 810 and ASC 323, including intercompany activity at both the subsidiary-to-subsidiary and subsidiary-to-parent levels; and the consolidation of acquired entities that continued to operate with a degree of independence from the parent following acquisition. The engagement also required analysis of multiple net working capital adjustments, the assumption of pension liabilities, re-estimation and appraisal of acquired assets and liabilities, recognition of several bargain purchase gains, assessment of contingent items, and the accounting treatment associated with the extinguishment of existing obligations and issuance of new debt.

As a result of the work performed by FDP, the client completed its external audit with a major national accounting firm without issue, supported by the quality and completeness of the workpapers prepared during the engagement.