Restructuring of an international service provider

Private investor group

Leading provider of technology-based customer care solutions for smartphones and other electronic devices with approximately 1,300 employees

Interim Chief Finance Officer

Sven Merkel

Negative operating result, high level of debt and break of covenants leads to liquidity and confidence crisis
Consolidation of the national companies inefficient and incomplete, which led to wrong investment decisions
No uniform management reporting of the various subsidiaries and lack of uniform group-wide KPIs
A major subsidiary with inadequate internal controls but enormous cash needs for further growth
Inefficient processes in production lead to long delivery times and a lack of delivery reliability
Significant quality costs and customer complaints
Unfocused product portfolio and investment decisions without uniform evaluation criteria for investment decisions
Capital increase necessary to secure going concern

Establishment of an interim Chief Finance Officer, who immediately started to develop a restructuring concept and immediately implemented measures to secure liquidity
Recruitment of a strategic purchasing manager, who also consolidated the purchasing departments of the foreign subsidiaries
Establishment of a new controlling team and rapid development of uniform management reporting across all subsidiaries. And introduction of a Group Accounting Manual.
Negotiation with owners to refinance the company and implementation of two capital increases

Successful refinancing of the company (volume: approx. EUR 10 million)
Restructuring of the finance team (exchange of 80% of the finance staff)
Realization of significant savings in purchasing and reduction of working capital
Improvement of management reporting and this already on the 9 working day of the following month for all group companies