Navigating IPO success: Transforming an EMEA-based portfolio company for a US market debut 

The Challenge

A $20 billion private equity fund’s portfolio company, with significant operations based in the EMEA region, was preparing for an IPO within the next 12-18 months. The leadership team aimed to list the company in the US market but faced challenges as a foreign filer unfamiliar with US SEC reporting requirements and the registration statement process. The company also needed support with valuation, technical accounting, and SEC reporting matters, particularly with a significant acquisition that required attention to accounting matters before pursuing the IPO.

Our Solution

To address these challenges, Highspring developed a comprehensive IPO readiness roadmap by conducting a thorough review of all key business functions, including HR, IT, and Finance, to identify and close critical gaps. Our team created IFRS and GAAP-compliant reporting frameworks to meet international and US regulatory requirements.

The team led an enterprise-wide compliance, business process, and technology Record-to-Report (R2R) assessment to evaluate the company’s current operating model and close process. By collaborating across all verticals, Highspring identified process gaps, aligned future-state business enablement with technology solutions, and established controls to support future reporting outputs.

Additionally, our team developed reporting for Forms F-1 (IPO), 20-F, and 6-K to streamline SEC filing and closing processes. The Highspring team also performed SOX readiness activities, ensuring compliance with regulatory mandates for 404(a) and 404(b) SOX attestations. Then, our team automated and optimized internal controls to enhance financial reporting capabilities and mitigate external financial reporting risks. This directly supported new investor relations reporting and disclosure requirements mandated by the SEC.

Our Impact

By automating and strengthening internal controls, the Highspring team mitigated financial reporting risks and positioned the company for a successful IPO, meeting both regulatory and investor expectations. “Additionally, three business verticals were assessed for critical control remediation (CCR) to strengthen compliance and consistency across the organization.”

Highspring created a robust IPO readiness roadmap, enabling the client to optimize financial reporting and business processes in preparation for their US IPO. “As part of this effort, the team completed five IPO and SOX readiness forms” and developed a SOX readiness plan that outlined interdependences and requirements from third-party lawyers and bankers, ensuring seamless SEC registration support for the company.