Chief Financial Officer (private equity)
A venture capital fund asks QMT for an interim manager as Chief Financial Officer. The fund wants to sell its stake in an automotive company that has not delivered the expected results.
The company has been losing money for a long time, the development of the new products is not progressing with the expected speed, sales are falling, there are tensions in the treasury, and the risk of bankruptcy is high.
In order to face the process of selling the company, the fund decides to hire an interim manager with experience in the sale process of a company. His task is to help the company and the consulting firm which adviced on the transaction. This consultant belongs to the Big 4.
QMT solution
The Chief Financial Officer (interim manager) designs a work plan to achieve the project’s objectives:
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- On the one hand, the company’s financial information must be put in order.
- He must do very fine treasury management to avoid bankruptcy during the sale process.
- He must prepare the data-room and attend the due-diligence. This due diligence by the client is managed by a consultancy belonging to the “Big 4”.
Result
The company was sold after 6 months of hard work. The interim manager kept the company financially functioning. Thanks to the collaboration between the consultant and the interim manager, the process to sell the company were carried out successfully. The management of the Chief Financial Officer of QMT was a great support throughout this process.