Case Study: Global Business Services Platform
Our client, an online technology platform, made it possible for businesses to source, buy and sell business services online. Through an online marketplace, businesses all over the world can access a global network of vetted service suppliers and manage the delivery of their project successfully. The company developed a physical presence in London, the South West and in North America.
Founded in the late 2000s, the business was launched on a trajectory towards next stage growth. It was looking to expand the team, technology and capacity and the means was pursuing an IPO.
As part of the IPO process, the early stage company required full documentation – appropriate company records for the the due diligence process and supporting business information and forecasts to present the proposition to potential investors. The business had grown rapidly and most processes and documentation required updating and formalising. In addition, there was a need for additional, temporary resources to assist in preparing for the pre-IPO funding round and subsequent IPO.
CFPro founder Barbara Spurrier joined the leadership team and kicked off the pre-IPO funding preparation. At the time, the decision to pursue an IPO was based on an understanding that the company was growing at a rate that justified next stage growth through IPO onto LSE:AIM, thus giving access to new growth capital. Barbara headed up the IPO preparation project and coordinated the work that was required. This included assembly of historical financial information, production of the working capital models and assembly of non-financial information required for the admission document, including legal due diligence, presentation preparation for roadshows, the admission document preparation and the selection of external advisors to work with the senior management and board.
The IPO required careful project management and planning with a significant amount of work involved and it was therefore critical that Barbara and her team led and managed the project in a phased approach, co-ordinating advisors and resources so that information was available at the required time with document reviews undertaken smoothly. This was achieved by setting a clear timetable with key deliverables, holding regular weekly meetings and calls with all stakeholders involved.
The company successfully completed a pre-IPO funding round which was followed by a successful funding and IPO on LSE:AIM in 2012. The entire process from making the decision to pursue an IPO listing, through to ringing the bell at London’s Stock Exchange, took an incredibly short 5 months. Since then, the business has re-branded and is gearing up to pursue new growth directions.
CFPro joined the leadership team and kicked off the pre-IPO funding preparation. The company successfully completed a pre-IPO funding round which was followed by a successful funding and IPO on LSE:AIM in 2012. The entire process from making the decision to pursue an IPO listing, through to ringing the bell at London’s Stock Exchange, took an incredibly short 5 months.