Interim CFO – Diversification & Growth - Case Study

Interim Chief Financial Officer

Sector: Information & Technology (Software & Services)

Location: Melbourne, VIC

The established subscription-based software service was acquired by a private equity group with ambitions to revitalise it for significant growth. At the acquisition date, the business had more than 600,000 online subscribers contributing to annual revenues of close to $500 million. Our private equity client planned to accelerate platform development, redouble investment in sales and marketing, acquire targets strategically and penetrate emerging and existing markets.

Issue:

A CFO was integral to executing the new owners’ ambitious plans for growth, diversification, new product launches, and operationalising the business transformation strategy. Several months into an unsuccessful search for a permanent CFO, the private equity investor asked EIM for a seasoned CFO to support them for approximately six months while they completed their formal search process.

Solution:

EIM appointed a mature and proactive Interim Executive with deep experience working in more than the ‘traditional’ finance function as a true partner and confidante to the CEO and new private equity owners. The Interim CFO quickly assumed managing a team of 120 individuals responsible for BAU operations, leading the five-year budgeting and strategic process, overseeing multi-million dollar ‘in flight’ acquisitions as well as new streams of product/businesses under development.