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Case Study

Development of controlling structures at e-commerce world market leader

Preparation for SPAC-IPO

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Company Details

  • Young e-commerce world market leader for cycling and tennis equipment with a buy-and-build strategy; rapidly growing market shares in outdoor and team sports sectors; COVID as an additional growth driver
  • Sales 2021: 1.6 billion USD, > 3,000 employees (incl. acquisitions)
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Situation and Challenge

  • Introduction of controlling structures, lean holding company (accounting/consolidation and strategy/fundraising only)
  • NYSE-IPO via SPAC, scheduled for the end of 2021, as well as group-wide SAP S4/HANA implementation
  • Company has only limited IPO-readiness in early 2021 – very young, immature organization; insufficient management experience
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Objective and Task

  • Development of holding/group controlling structures and processes with a focus on IPO
  • Introduction of a uniform management reporting system at holding level
  • Support  group-wide SAP S4/HANA implementation
  • Support group-wide data strategy project (BI/Data Virtualization)
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Measures and Procedures

  • Introduction of shareholder-oriented management reporting based on uniform IFRS figures
  • Automation of processes for the collation of monthly PowerPoint presentation at subsidiaries; integration of a system-supported quarterly forecast
  • Conception of FI/CO harmonization initiatives for the SAP S4/HANA implementation
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Results and Achievements

  • Implementation of management reporting, including generic interface for subsidiaries
  • Shortened monthly closing process, including system-supported forecast during introductory phase
  • Ongoing implementation of SAP CO concept for future management of the group
  • Handover to new permanent incumbent

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