CFO - Dubai

2 months ago


dubai, United Arab Emirates Xanthic Full time
The company is a TICS (“Testing, Inspection, Certification, and Services”) provider ensuring the safety and compliance of seagoing vessels across merchant, cruise, ferry, and offshore segments. Headquartered in Rotterdam, with local offices in Greece, Dubai, Panama, China, Singapore, and India, the company serves ~2,500 ships yearly in over 400 ports worldwide. Leveraging a carefully selected network of own and third-party certified technicians, the company enables its clients to meet the tightening global and regional (sustainability) regulations for critical vessel equipment inspections (such as elevators, instruments and controls and ballast water). The company's revenue, primarily from a blue-chip client base, is organically growing at over 15% annually, increasingly driven by highly recurring asset-management contracts.
In 2020, a private equity investor joined as a shareholder, to accelerate organic growth with the goal to become a leading global provider of vessel equipment TICS services. After two years of organic growth, the private equity shareholder recognised the opportunity for the company becoming a frontrunner in a global consolidation as the market is highly fragmented (local shops) and has limited global competition. They believe the company can act as a unique platform for executing a buy-and-build strategy, expanding service offerings, and geographic presence worldwide.
Since the acquisition in 2020, the company has experienced rapid growth, doubling its revenues organically and by expanding its TICS offering through acquisitions of 2 companies. The company has grown from approximately 35 FTEs mainly located in Rotterdam to a global workforce of approximately 100 FTEs, with an increasing share of on-payroll technicians in key hubs.
The Position
For this next growth phase we are seeking a CFO with ability to act as a sparring partner and support the CEO in executing a global buy-and-build strategy in the vessel equipment TICS sector. Furthermore, it’s the CFO’s responsibility to maintain and improve the organisation to provide critical financial and operational information to the CEO and COO to make actionable recommendations on day-to-day (commercial) operations and long-term strategy.
Given the fragmentation of the market, their aim is to acquire more than two companies per year, typically with an EBITDA ranging from €200k to €2m. Their targets are usually focused on a single shipping hub and led by the founder. These founders are experienced engineers who have gradually built their businesses, often neglecting overhead considerations, which ultimately hinders their growth potential. The company facilitates the integration of acquired companies into our existing operations, unlocking access to their client base and overhead capabilities. Additionally, they offer these local businesses a solution to meet the increasingly stringent compliance demands of clients.
Team
The current senior management team consists of a CEO, COO and (interim) CFO. The broader management team includes an CCO and HR director. The management team is a reflection of the diversity of the company (in total >20 nationalities, >50% women).
The management team is supported by an advisory board which consists of the founder of the company and the private equity shareholder. In a monthly meeting they discuss and monitor the progress on the strategic agenda.
The finance team consists of 7 FTE, of which 5 in financial control en accounting (based in Singapore and Rotterdam) and 2 business control & reporting employees.
Role and responsibilities
Supporting the CEO in driving the M&A agenda, including assessing the strategic, operational and financial fit with the company. Executing financial integration of targets.
Assessing organizational performance against both the annual budget and the company’s long-term strategy, driving a culture of accountability in managing the business.
Developing and improving tools, systems and processes to provide critical financial and operational information to the CEO and makes actionable recommendations on both strategy and operations.
Ensuring (maintenance of) appropriate internal risk controls, including legal frameworks
Lead, assess and improve the finance team of the company.
Developing financial board reports in a timely and accurate manner and effectively represents the information to shareholders, having a prominent voice in the monthly board meetings.
Overseeing long-term budgetary planning and cost management in alignment with the company’s strategic plans and ongoing projects.
Taking the lead in aligning the company’s capital structure with its (buy-and-build) strategy.
Making decisions on day-to-day financial operations, including strategic planning of resources.
Creating and maintaining clear and open communication with financiers.
Facilitating and stimulating open feedback mechanisms within the finance team.
Acting as a leader and team player, contributing to the success of the (finance) team.
Candidate Profile
Structured, punctual and analytically strong, able to challenge and refine operations and strategy based on financial and business key performance indicators.
Ability to instil and inspire cost awareness within the company.
Confident in communicating the company’s equity / debt story to investors and lenders.
Creates structures, processes and other conditions for other people to succeed.
Hands-on with a high-energy, "get things done" mentality.
Ability to adapt to changing circumstances.
Decisive and proactive. “Bad news first” mentality.
Experience and requirements
Extensive CFO experience within medium sized, fast growing companies with international footprint (e.g. experience with consolidation of entities, international tax, transfer pricing policies).
Experience in executing a buy-and-build strategy, including amongst others support in financial due diligence, overseeing practical and pragmatic ERP migration / implementation and integration of the financial team.
Experience in working under private equity ownership, including debt arrangements.
Excellent knowledge of various accounting principles.
University-level education or equivalent in finance, accounting or business administration.
Fluent in Dutch (native) and English.
Remuneration#J-18808-Ljbffr
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