A U.S. retailer of electricity, natural gas, and energy services had expanded rapidly through acquisitions. While the company had robust management reporting by line of business, it lacked clear and accurate stand-alone financial statements at the legal entity level. This gap created significant challenges when it came to tax restructuring and compliance, as legal entity reporting had not been prioritized throughout the company’s growth.
After engaging a Big Four firm to perform the technical accounting research and prepare historical acquisition adjustments, the client recognized a need for stronger project leadership and execution support. They required experienced program management to align fragmented teams across Accounting, Legal, Finance, IT, Master Data, Tax, and Power, Gas, and Retail business units. At the same time, the client needed a solution that would enable accurate financial reporting and systems support—without disrupting existing management reporting structures or daily operations. Meeting aggressive timelines added another layer of complexity. SolomonEdwards stepped in to stabilize and guide the initiative.
We deployed a cross-functional team with deep expertise in project management, purchase accounting and SAP systems. Our team quickly filled planning and execution gaps, completing foundational work such as stakeholder analysis, project planning, and timeline development. As a result, the company achieved its legal entity separation objectives and met all go-live dates—without operational disruption. Key accomplishments include: