James Kennedy sits down with UK-based portfolio CFO Andy Mellor, founder of Summit17, to tackle a controversial question: what actually makes a “real” fractional CFO? Drawing on Andy’s journey from big corporate finance to PE-backed gym chains and nursery groups, through to running his own packed portfolio practice, they unpack how to separate serious CFOs from title-only pretenders, why great financial models should drive day-to-day decisions (not gather dust in Excel), and how fractional CFOs can build real equity instead of just selling hours. Along the way, Andy shares a live MBO case study where a retiring partner was bought out without private equity and how smart forecasting and cash planning made it possible.
About Andy Mellor:
Andy Mellor is a UK-based portfolio CFO and founder of Summit17, where he provides fractional CFO/FD services to fast-growing SMEs. After qualifying in finance at the Co-op, Andy moved into high-growth, operational roles across sectors – pharmacy, a private-equity-backed gym chain (where he helped execute a management buyout), and a PE-backed nursery group – before supporting privately owned and startup businesses through COVID. Today, he runs a full portfolio of clients, builds robust financial models for funding and decision-making, and has personally invested in one of his client businesses, aligning his incentives as both CFO and shareholder.
What You’ll Learn:
- Real vs “LinkedIn” Fractional CFOs
What distinguishes a seasoned CFO with PE/MBO experience from someone who’s simply updated their job title – and why that depth matters for owners. - Financial Models That Actually Get Used
How to design models that drive monthly reporting, targets, and board decisions instead of becoming unreadable spreadsheets only the creator understands. - From LOI to MBO: A Buyout Case Study
Inside a real management buyout where two partners agreed a valuation, weighed private equity offers, and ultimately self-funded the deal via smart cash and group structuring. - De-Risking an Owner Exit Without Breaking the Business
How recurring revenue, 12-month forecasts, and 13-week cash projections work together to ensure the company is safer after the buyout, not more fragile.
Episode Highlights:
“You can change your LinkedIn title overnight – but you can’t fake having led an MBO or navigated PE due diligence.”
“A good model isn’t just for a fundraise. It becomes the place the CEO goes every month to see how the business is really doing.”
“We used private equity interest to anchor the valuation – then proved we could fund the buyout ourselves through cash and sensible debt.”
“As a fractional CFO, owning equity changes your horizon – but day to day, your job is still to do what’s best for all shareholders.”
More About Andy’s Role:
At Summit17, Andy acts as a hands-on portfolio CFO for SMEs typically needing anything from a day a week to a few days a month. He builds integrated financial models for funding rounds and PE conversations, then turns those same models into living tools for budgeting, KPI tracking, and board reporting. Andy also supports owners through management buyouts and succession planning – helping them structure deals, assess valuation, and ensure post-transaction cash resilience. His mission: give growing businesses access to big-company CFO expertise, in a flexible fractional format, while helping both founders and finance leaders share in the value they create.
