Andrew Fales, Finance Expert in San Francisco, CA, United States
Andrew Fales

Finance Expert in San Francisco, CA, United States

Member since October 25, 2017
A dynamic CFO, Andrew built and sold a CPA firm offering contract CFO services and led a management buyout that generated a 5.0x net cash-on-cash return for investors on a $4 million investment. Andrew possesses extensive expertise in accounting, finance, investments, and tax and enjoys quickly learning about new industries and opportunities while providing concise insights for investment funds and private equity-backed companies as a freelancer.
Andrew is now available for hire

Education

Select Certifications

Case studies

  • Renewable Energy Project Finance Model
    Renewable Energy Project Finance Model
  • Opinion Piece in The Hill
    Opinion Piece in The Hill

Industry Expertise

  • Energy
  • Professional Services

Software Expertise

Employment

  • Chief Financial Officer

    2018 - PRESENT
    Insurtech Company
    • Built financial models from scratch forecasting premiums and expenses for state insurance regulators to support growth into additional states/markets.
    • Provided insights and analytics on potential market opportunities by harnessing internal databases primarily through Tableau.
    • Led all aspects of consolidated and subsidiary financial reporting to state regulators, lenders, and shareholders, as well as lead audits and tax compliance/reporting with outside accounting firms.
    Focus areas: Mergers & Acquisitions, Financial Planning & Analysis, Regulatory Reporting, Risk Management, Accounting, Financial Reporting, Audit, Big Data, Analytics
  • Senior Adviser to the Co-head of Investments

    2011 - PRESENT
    MAP Energy
    • Identified additional sources of cash flow for existing assets that increase annual cash yields by 12-15% by disentangling complex securities and bank hedge arrangements and determining that payments were miscalculated.
    • Led negotiations for equity, tax equity, and construction financings on transactions of $200 million with a Fortune 50 investment team, $125 million with a top-tier investment bank, and $60 million with a top project finance bank.
    • Developed the structure and led the analysis and negotiation of an innovative and proprietary $150 million asset-backed security as part of a leveraged recapitalization transaction designed to increase investor IRR.
    • Utilized discounted cash flow and financial modeling to provide critical valuation analysis to support a $100 million upfront payment as well as additional contingent consideration of up to $1.5 billion as part of asset portfolio sale to Fortune 200 energy company.
    • Navigated legal, regulatory, and energy market dynamics through extensive research of state and federal commission rulings and orders, utility rate cases, capital structure, and other publicly available financial information.
    • Created sophisticated investment models designed to capture value, risk, and quantify opportunities to efficiently allocate and utilize tax benefits for complicated partnership tax structures.
    Focus areas: Mergers & Acquisitions (M&A), Project Finance, Accounting, Asset Allocation, Pricing Analysis, Tax Credits, Venture Funding, Financial Reporting, Cost of Capital, Due Diligence, Discounted Cash Flow (DCF), Debt Structuring, Equity Research, Cash Flow Forecasting, Investment Thesis, Monetization Models, Power Purchase Agreements (PPA), Valuation, Value Investing, Weighted Average Cost of Capital (WACC), Working Capital Management, Yield Cos, Financial Planning & Analysis (FP&A)
  • Chief Financial Officer

    2009 - 2011
    Wasatch Wind
    • Led a management buyout and negotiated the elimination of $20 million in liabilities, successfully closing a $4 million recapitalization that generated a 5.0x net cash-on-cash return to investors for MAP Energy.
    • Developed and monetized 62-megawatt and 80-megawatt operating wind projects in Utah and Wyoming that required $95 million and $120 million of capital investment, respectively.
    • Created and executed the firm’s “lean and focused” results-driven strategy that identified the firm's most marketable assets, isolated non-essential functions to outsource, and secured low-cost capital, enabling the business to capture extensive value.
    • Led the negotiations and valuation analysis for asset divestitures and financings with GE Power, GE Energy Financial Services, and Rabobank.
    • Negotiated power purchase agreements with PacifiCorp, $124 million of equipment contracts with GE Power, and construction contracts for large energy projects.
    • Managed the financial reporting, cash flow forecasts, and ensured a working capital adequacy.
    Focus areas: Accounting, Monetization Models, Project Finance, Tax Credits, Series A, Budgeting, CFO, Cost of Capital, Discounted Cash Flow (DCF), Due Diligence, Debt Workouts, Expense Reduction, Private Equity, Cash Flow Forecasting, Power Purchase Agreements (PPA), Promissory Notes, Debt Structuring, Value Creation, DCF Valuation, Weighted Average Cost of Capital (WACC), Working Capital Management, Financial Planning & Analysis (FP&A)
  • Managing Partner and Founder

    2003 - 2008
    Fales & Co, CPAs
    • Provided contract CFO, accounting, corporate finance, tax compliance and planning, and acquisition diligence services to entrepreneurs, venture-backed startups, real estate development companies, and investment firms.
    • Advised on accounting and tax items for a multimillion-dollar series A VC investment, establishing beginning financial statements and working through post-closing issues by setting up accounting policies and procedures.
    • Created a reorganization plan for a real estate partnership to defer taxes on multi-million dollar gain.
    • Structured the recapitalization of a failing firm and helped them to become cash flow positive by establishing weekly cash flow forecasts, identifying the most profitable product lines, liquidating obsolete and slow-moving inventory to generate cash flow and meeting compliance requirements with Zions Bank to increase access to the working capital revolver.
    • Structured asset and stock transactions to maximize after-tax cash flow, as well as optimize the financial, legal and GAAP benefits for clients.
    Focus areas: Taxes, Tax Incentives, Tax Planning, Income Tax, Tax Credits, Deferred Tax, Individual Tax, Annual Tax Returns, Business Taxes, Accounting, Acquisition Accounting, Real Estate Finance, Certified Public Accountant (CPA), Double-entry Bookkeeping, Reasonable Compensation Calculation, Private Company Valuation, Debt Structuring, Venture Funding, Risk Models, Estate Planning, Financial Planning & Analysis (FP&A)
  • Mergers & Acquisitions Associate

    2001 - 2002
    PricewaterhouseCoopers LLP
    • Developed a sophisticated model that led investment bankers advising a mutual Fortune 500 client to delay the spin-off of a subsidiary enabling the business to generate an additional $700 million of after-tax cash flow.
    • Advised Lehman Brothers on the tax implications of an innovative debt offering with a variable interest rate linked to the S&P 500 Index.
    • Structured asset and stock transactions to maximize after-tax cash flow as well as optimize the financial, legal and GAAP benefits for clients.
    • Created sophisticated financial models to determine optimal tax structures based on debt and equity capitalizations.
    • Performed due diligence to identify tax exposures in both domestic and cross-border transactions.
    • Worked extensively on complex restructurings with Kmart, Global Crossing, and XO Communications with a focus on preserving and maximizing tax attributes.
    Focus areas: Mergers & Acquisitions (M&A), Tax Planning, Fund Structure, Debt Structuring, Debt Restructuring, Equity Offerings, Equity Research, Due Diligence, Accounting, Deferred Tax, Financial Restructuring, Private Equity, Capital Structure, Cash Flow Modeling

Education

  • Master of Business Administration (MBA) degree in Finance and Entrepreneurship
    2008 - 2010
    The Wharton School of the University of Pennsylvania - Philadelphia, PA, USA
  • Bachelor of Science degree in Accounting
    1997 - 2001
    Brigham Young University - Provo, UT, USA
  • Master of Accountancy degree in Taxation
    1997 - 2001
    Brigham Young University - Provo, UT, USA

Certifications

  • Certified Public Accountant (CPA)
    JULY 2019 - JUNE 2020
    Idaho State Board of Accountancy

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