Forvis Mazars has been a true business partner in Consillion’s journey. Their team’s deep technical expertise, coupled with a practical and commercial approach, has been invaluable in supporting our financial strategy. Their ability to understand our complex business needs and provide tailored solutions has significantly contributed to our growth and success. I highly recommend Forvis Mazars to any organisation seeking a trusted advisor who can deliver exceptional results.
Kris Black - CFO Consillion
Consillion - case study
A partnership driving transparency, efficiency and global success.
Client
Consillion is a global provider of cash management solutions, offering a wide array of cash automation products, software and services. Operating across major sectors including banking, retail, hospitality, entertainment and cash in transit, Consillion’s offerings either come from leading tech partners or are designed and manufactured at their dedicated production facility in the UK. Over the past eight years, Consillion’s revenue has nearly doubled, positioning them as a leader in cash management through innovation, strategic partnerships and acquisitions.
Need
In 2016, Consillion recognised that scaling the business required having the right talent in the right roles and optimising their business processes. Consillion’s CFO Kris Black recalls his first interaction with Forvis Mazars (then Mazars), stating, “I first came across Forvis Mazars when they were advising the opposing team on a separate transaction, and I noticed how well they represented their clients. I wanted that expertise on our side.”
Consillion engaged Forvis Mazars to streamline their accounting processes and to support the selection, implementation, and migration of an ERP system. “We were looking for a trusted partner to quantify and address our challenges and that’s where Forvis Mazars came in. Enhancing our governance framework opened opportunities for optimised performance by providing greater transparency and insight,” Kris notes.
The Consillion and Forvis Mazars relationship has deepened over time as the business has grown. “We needed a provider we could inherently trust, someone with experience in these types of issues and connections with regulatory bodies. Forvis Mazars was that partner for us.”
Results
Forvis Mazars delivered a suite of advisory, outsourcing, tax, and acquisition services, enabling Consillion to streamline accounting processes, implement a new ERP system, strengthen its governance framework and successfully execute on its M&A strategy. This foundation created a platform for growth and allowed for better management decisions across compliance, governance, and performance.
“Forvis Mazars demonstrated their understanding of complex issues and how to work through them constructively,” shares Kris.
As Consillion expanded into Singapore and vertically integrated their business model through the acquisition of a manufacturing business, Forvis Mazars provided critical compliance and due diligence support. “Forvis Mazars rode the highs and lows with us, reinforcing the mindset and approach needed for both domestic and international growth.”
In September 2024, Consillion was acquired by Sesami Cash Management Technologies Corporation (Sesami), a subsidiary of Canada-based GardaWorld, recognising Consillion’s market leadership, strong business model and growth potential.
“Forvis Mazars’ was fundamental to the success of the transaction. From one piece of tax advice alone, shareholders saved 1.4 times the total fee paid to Forvis Mazars.”
With Forvis Mazars’ global reach, Consillion has collaborated with its offices in the UK, Hong Kong, Italy, Singapore and New Zealand, benefiting from a truly international advisory network.