Interim CFO & Finance Infrastructure Build

Client

Private Equity-backed Fitness Chain

Situation

The Sponsor endeavored to execute an aggressive acquisition-based growth strategy and retained an interim CFO from Level^x to build a scalable finance infrastructure for the platform business.

Level^x Actions

• Created the internal financial reporting infrastructure, including debt covenant compliance and board packages
• Liaised with valuation consultants to evaluate add-on acquisitions
• Performed business combination accounting for opening balance sheet and add-on acquisitions
• Coordinated first-year audit and guidance with third party accounting firm
• Assisted in preparation of external (audited) financial statements and footnotes (first-year audit)
• Assisted in preparation of first Federal income tax return filing
• Guided the Controller on the design of the corporate chart of accounts and the use of select advanced ERP functionality
• Assisted post-implementation efforts for a new retail accounting system, provided trouble shooting and issue resolution

Results

• Devised a tax strategy that generated nearly $200,000 in annual savings
• Documented all processes, methods, and tools and transferred this knowledge to the new full-time CFO