Digital Services Company Rapid Tax Department Rebuild for US Redomiciliation and IPO

The Client 

Industry: Digital Services  

Challenge: Complete Tax Department Rebuild and IPO Preparation 

Scale: $1B+ annual revenue 

The Challenge: Redomiciliation, Restructuring, and Rapid IPO Preparation 

A privately held digital services company, recently acquired by a private equity fund, faced a series of complex challenges: 

• Redomiciliation: Moving from a foreign-based to a US-based entity, with new headquarters in Texas. 
• Skill Gap: Existing tax department lacked expertise in US-based operations. 
• Time Pressure: Short timeline to prepare for an initial public offering (IPO). 
• Leadership Transition: Recently hired CFO without tax experience. 

The Imperative: Swift Tax Leadership and Department Transformation 

The company needed to: 

• Recruit Key Leadership: Hire a new Head of Tax with US expertise and IPO experience. 
• Rebuild Tax Function: Upgrade staffing and capabilities to meet US requirements. 
• Ensure Compliance: Establish robust US tax compliance and provision processes. 
• Support C-Suite: Provide strategic tax guidance to the new CFO. 
• Meet IPO Deadline: Prepare the tax function for public company requirements within a tight timeframe. 

TaxSearch's Strategic Approach 

TaxSearch implemented a focused, rapid-response strategy to address the complex situation: 

1. Targeted Search: Leveraged research team to quickly identify candidates with IPO experience. 
2. Comprehensive Profiling: Sought candidates with technical expertise and personality traits to thrive in a high-pressure environment. 
3. Stakeholder Coordination: Managed involvement of private-equity fund managing partner and new subsidiary CFO in the hiring process. 
4. Accelerated Timeline: Compressed the search process to meet urgent client needs. 
5. Local Talent Identification: Found a qualified candidate in the same city as the new headquarters. 

The Results: Successful Transformation and IPO 

• Swift Placement: Completed the search and placed the new Head of Tax in just over two months. 
• Rapid IPO Preparation: Company successfully went public within three months of the new tax leader starting. 
• Seamless Transition: No tax-related issues arose during the IPO process. 
• Long-term Stability: The placed executive remained with the company for over three years, guiding it through the post-IPO period. 

The TaxSearch Effect 

• Speed and Precision: Rapidly identified and placed a candidate meeting all technical and personal requirements. 
• Strategic Alignment: Found a leader capable of managing both the technical challenges and the high-pressure environment. 
• Cross-functional Support: Placed a tax leader able to effectively support and advise the CFO. 
• Crisis Management: Successfully navigated the complexities of redomiciliation, department rebuilding, and IPO preparation simultaneously. 
• Long-term Impact: Contributed to the company's successful transition to a public entity and ongoing stability in tax leadership.