«Scandi Standard is the largest supplier of chicken based food products in Scandinavia, with sales over SEK 5 billion and operating profit over SEK 300 million. The group was formed in 2013 as the combination through acquisition of strong chicken businesses in Sweden, Denmark and Norway by a British PE-fund called Capvest. In the first year as a group significant synergies were delivered by the increase of scale and the sharing of best practice between countries. The next step in strategic growth was to move the capital structure to a basis for long term growth via an IPO.
In January 2014 the PE owners identified an opportunity to float the business on the Stockholm stock exchange before the summer. There was a vast amount of work required to complete that task but only limited and very new resources in the group functions, including finance. Consorti was recruited to assist. The IPO proceeded on time (less than 6 months from start to finish) and was a great success.
Consorti was able to respond very quickly, with qualified resources on the ground within a week. Drawing from a range of previous experience in large and small companies, public and private, with different organisational and systems structures, Consorti was able to see quickly and advise what had to be improved to transform from a newly formed, privately owned group to the higher level of control and reporting required in the public markets. Reporting packages were developed, KPIs were defined, governance was improved, policies and procedures were drafted, debated with the board and then approved, the team was trained. It was fast and furious, but the result was exactly what was required. It would not have been possible without Consorti.»