the modern millionaires review

Private Equity-backed Fitness Chain


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

Levelx 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
  • 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