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BACKGROUND
Founded in 1988 by Michael Sneddon and a partner, MultiLing defines and drives best practices for advanced multinational translations. The company’s unique model combines highly specialized translators, a centralized management process, terminology management, quality control, and proprietary technology to ensure accurate, highly specialized, and secure translation for global enterprises with high technical demands.
Many of the world’s largest companies and global enterprises such as Dell, IBM, GE Healthcare, and Procter & Gamble trust MultiLing to translate their most important documents. Through its global network of specialized translators, MultiLing provides its clients with comprehensive translation services in any language they request. The company has even translated extensive technical patent documents into Uzbekistani and Moldavian.
CHALLENGE
During its first 23 years of business, MultiLing had grown slowly and methodically. Michael, however, was ready to accelerate growth and expand operations, but without a scalable infrastructure in place, he did not feel confident in their ability to manage the growth. So, set out to engage a partner who could assist with upgrading the finance & accounting infrastructure, improve cash flow management and forecasting, prepare for and manage major financing round, and guide the company through planning for the customer, geographic, and revenue growth.
SOLUTION
Ampleo provided a part-time CFO who quickly evaluated the company’s accounting team, technology, processes and controls. He then made recommendations and helped implement processes for streamlining MultiLing’s transaction processing, resulting in timely and accurate financial information about their global operations and improving gross profit margins and cash flow management. During this process, Ampleo helped MultiLing increase its working capital line of credit. In addition, Ampleo helped MultiLing prepare for an equity investment by making an introduction to Frontier Capital in 2012 which resulted in a $10.3 million growth capital investment in August of 2013. Ampleo also assisted in the due diligence process and in negotiating the terms of the financing.
Following the successful equity investment, Mr. Sneddon said, “With [Ampleo] you get impeccable performance, all the time, every time. After [our consultant] worked his magic, every aspect of our financial processes was improved, if not automated. During due diligence, our equity partner said our books were some of the best they had ever seen!”
CONTINUED SUCCESS
MultiLing is growing and is poised to achieve double-digit annual growth while upgrading its product mix and proprietary translation technology.
