CFO Advisor Facilitates Public Listing of High-Growth, Plant-Based Private Food Manufacturer in Just 105 Days

Steered a 20-year private company through a Reverse Takeover (RTO) transaction, successfully raising $15 million and taking the company public in just 105 days.

Client:

Manufacturer of high-quality vegetarian, vegan, Gluten-Free and organic frozen and fresh meat alternatives.

Services:

Interim Executive Search
Interim CFO

Industry:

Food Manufacturing

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Our Challenge

With plant-based food being the fastest-growing category in grocery and food service channels, a private manufacturer sought to embrace market enthusiasm, and at the optimal time within the company’s financial reporting cycle. The organization engaged one of Focus Search Partners’ (FSP) highly experienced CFOs to accomplish a nearly impossible feat—successfully drive the firm’s RTO transaction and list it on a public exchange in under 120 days, and with a small finance and leadership team largely inexperienced in IPOs and public company operations.

Solutions & Outcomes

Our interim CFO brought extensive public experience to build and drive the company’s end-to-end RTO transaction in an accelerated timeline. His previous experience included 17 public transactions worth $1.1 billion, one previous RTO with an aggressive timeline, and past tenures with seven tier-1 consumer package food companies.
On day two, our CFO kicked off the RTO project and began simultaneously managing five areas crucial to its successful conclusion: Completing the accounting statements, reviews, and audits, Preparing the investment deck and conducting the investor roadshows with the CEO, Performing company due diligence, Executing the exchange filing statement, Obtaining public directors and officers (D&O) insurance
Our interim CFO's ability to immediately take the reins of the RTO (in a fully remote capacity due to pandemic restrictions) enabled the CEO to focus on running and growing the business while it sped toward its public exchange listing.
During the investor roadshows (commencing during the first month of our engagement), our interim CFO’s proven background and confident demeanor enabled investors to overcome concerns about the C-suite’s public company experience. He deftly managed the challenge of remote roadshows by crafting a thorough and compelling investment deck and distributing (ahead of each meeting) product samples, all of which counteracted investors’ typical desire for face-to-face interaction. As a result, the company was valued at $130 million.
Conducted 42+ investor meetings within one month
Prepared and reviewed the 169-page filing statement
Resolved all outstanding questions from the exchange
Prepared and maintained the due diligence data room
Converted financial statements from ASPE to IFRS
Reviewed and approved all legal documentation
Upgraded finance team in preparation for going public
Completed audits for prior two years and prepared audited statements, quarter-end, proforma, and MD&A
Worked extensively upgrading D&O for going public

Results

We have worked with thousands of clients across a diverse set of industries.