CASE STUDY
Elevate Direct
Turnaround & Greenfield Operations
We were approached by a Management Team running an early-stage software company in London that was focused on the Recruitment Industry. This team had a number of operational and financial issues, and the management were seeking to bring in a team to help them turnaround the business. This business was funded by an International Venture Capital (“VC”) company, and we agreed a strategy with the VC and management team to help restructure the business.
This involved the closing down of operations in the UK and transiting key business operations to Ireland.
Transaction
This transaction was complicated as there was a significant number of legacy investors but as this business needed new funds. This required that the cap table be restructured to facilitate this new funding. No 3rd party debt funder was required in this case.
Irish Greenfield Operation
We quickly addressed some operational issues – closed large office space in London, and reduced the size of the team. Then we established an Irish Company and started to build a team and all operational capability from Ireland to address sales & marketing approach we also transitioned key functions such as the Finance function, Marketing and IT support services all to Ireland. The software development team moved to a work-from-home model – they were a very established team that worked well and benefited from this model.
