$500 Million Private Equity-Backed Retail Technology Firm
A global private equity firm, carved a retail technology firm out of a publicly-traded corporation. They retained an interim CFO from an international turnaround and performance improvement firm to “stand-up” the stand-alone finance operations and, later, retained an interim Treasurer from LevelX to establish a Treasury function and take control the flow of cash between the carve-out and it’s former parent.
Role / Actions
- Designed overall cash management methods and tools to facilitate the tracking and assignability of cash between the carve-out and its former corporate parent
- Created a monthly reporting package for the private equity sponsor
- Calculated and reported on all lender covenants, offered the CFO and CEO guidance on covenant compliance requirements and tactics
- Trained new treasury team on cash flow forecasting, liquidity management, and bank relationship management
- Designed and implemented a daily cash forecast which served as an essential tool for managing A/R collections and line-of-credit use, and controlling inventory
- Assisted in the development of a financial forecast process and tools
- Documented all treasury processes, methods, and tools and transferred this knowledge to the new treasury team
Results
- Performed all activities for which LevelX was responsible on time and within budget
