BluWave Team Interviews | Mike Mahan, Account Management Director

Staying up to date with all 500+ PE firms we work with is no easy feat, which is why we are so glad to have added Mike Mahan to our team as Account Management Director. As a leader on our client coverage team, Mike builds relationships with our clients and helps coordinate our account management and business development efforts. Having now been on the team for a couple of months, we recently sat down with Mike to learn more about him, why he joined BluWave, and what his onboarding experience has been like.

How did you hear about BluWave and what made you want to ultimately join the team?

I first heard about BluWave when a recruiter reached out to me about the role. I then did some research and was impressed by all the news I found about BluWave’s growth and how team-centered the company was. When I came in to meet Sean, Katie, Houston, & Kyle, I knew that this was a team I wanted to be a part of.

What’s your favorite part about the team and culture?

Everyone that comes to work is always lending a helping hand and brings the same energy every single day. It is truly a “we” mentality at BluWave and we all want to grow professionally and personally together.

I also have to add that I love our commitment as a company to giving back both through community service and the contributions we make to local charitable organizations.

What was your favorite part of your onboarding experience?

I really enjoyed getting to meet with each department to see what role they each play in the big picture and then ultimately seeing how everything works together. This was a great example from day one of how we embrace our “team” value.

What’s your background?

I have been in an Account Management/Sales role for the past 9 years. Most recently, I was with Forrester Research, where I spent 4 years working with established & emerging technology companies helping them execute their product, sales, & marketing roadmaps.

Coming from no PE background, how was your experience getting caught up to speed on all things private equity?

Thanks to the people and training here, I got up to speed on the industry pretty quickly. Having subject matter experts like Sean that are willing to give you the time to pick their brain on the PE landscape is incredibly helpful. It’s such a fascinating market to learn and it’s been really rewarding to learn and see how our business model supports the industry’s everyday needs.

What’s your favorite part of the job and what do you find most rewarding about it?

I love that every day is different! My favorite aspect of my job is working with our PE clients to help them solve the challenges they are facing. We are built to save our clients time so that they can focus on other important initiatives on their plates. When we do help a client drive success, it’s rewarding because when one person wins, we all win! We have such a unique model where it truly is a team effort to present the optimal solution to our clients.

 

Now for the fun stuff, what are your favorite hobbies and activities when you aren’t in the office?

I grew up with a golf club in my hand and will always find an excuse to go out and play, even if its putt-putt. Other than that, I am a pretty laid back individual that loves watching my Cincinnati Bengals, Cincinnati Reds, and Kentucky Wildcats when they are on TV.

Favorite Nashville restaurant?

Jeff Ruby’s Steakhouse – Being a Northern Kentuckian I had to! But also love Edley’s BBQ with a nice cold beer.

Go-to vacation spot?

Hilton Head, SC

 

 

If you’re interested in joining the BluWave team, be sure to check out our open positions.

March 2022 Roundup: BluWave Client Insights

BluWave works with over 500 PE funds from around the globe as well as their portfolio companies and proactive independent companies, connecting them with pre-vetted, best-in-class, third-party service providers across a variety of resource and functional areas. From information technology and manufacturing to healthcare, consumer goods, and beyond, our clients are expert business builders. In other words, they have their heads in the game and their hands on the pulse of news and insights you can use.

Check out the latest, curated collection of reports, insights, and musings from a handful of our PE fund clients on everything from ESG to cybersecurity, and inflation to sales.

Advent’s Managing Director, Tricia Glynn, talks with the chair of Goldman Sachs’ Investment Banking division about a wide array of topics including investing through an ESG lens; trends in the retail, consumer, and leisure sector; and her economic outlook for 2022.

Listen to their discussion>>>

The COVID-19 pandemic accelerated many businesses’ plans to move more and more digital. With this change comes an increased risk in terms of cybersecurity. With a cyberattack estimated to occur every 39 seconds, Blackstone shares insight into how their portco Vectra has developed an innovative solution to this problem.

Learn more >>>

Scot Duncan, MiddleGround co-founding partner, speaks on a panel covering sustainable profitability in manufacturing companies. He shares ways MiddleGround’s portfolio companies are increasing revenue amidst an environment of supply chain challenges and labor shortages.

Watch the panel >>>

ParkerGale’s Paul Stansik is joined by two guests to talk about prospecting and how to get growth right. They share their varying opinions on how to prospect well, the evolving role of the BDR/SDR, and more.

Listen to the podcast >>>

 

If you are in need of resources that can help you with ESG, cybersecurity, pricing woes, or sales & marketing, we can quickly connect you to the PE-grade, pre-vetted, exact-fit ones you need. Give us a shout.

Read what some of our clients had to say last month.

Event Recap: PEI Operating Partners Human Capital Forum 2022

Our team recently had the pleasure of sponsoring the 2022 PEI Operating Partners Human Capital Forum in New York. In the below video, Katie Marchetti, BluWave Managing Director, recaps her key takeaways from the conference as a whole as well as the panel she moderated. Key takeaways include:

  • CHROs are on the rise at both the portco & firm level
  • Human capital leaders are working with deal teams more in diligence to ensure alignment
  • Many firms are leading with data on the human capital front

We support more than 500 leading private equity firms in their human capital needs by placing interim CHROs, connecting them with specialized recruiters, introducing them to HR diligence providers, & more. To learn more about how we support PE human capital needs, visit our PE Human Capital Resources hub.

If you have a human capital need or any other need we can support, contact us here. Additionally, if you are a PE talent professional, be sure to join us and other leading PE talent professionals at our next virtual PE Human Capital Forum on May 4th by registering here.

Case Study | Implementing Sophisticated Data Analytics to Drive Efficiency & Improved Decision Making Across Portfolio

When PE firms purchase a new portfolio company, there are specific reasons for doing so, leading to a specific set of metrics in mind that the firm wants to report on and monitor, such as customer acquisition cost, profit margins, and customer churn. The PE firm’s operations team focuses on optimizing and improving these key metrics by making changes as needed in the company’s operations, marketing, finance, and other functions. Real-time reporting on the key metrics allows an operating partner and key leaders within the business to proactively see situations coming that may require an adjustment.

Detailed reporting on each company within a portfolio, which each have different reporting systems, is a time-consuming task that inhibits the ability to look at metrics across the board in real-time as needed. In order to seek a solution to this problem, a PE firm came to us.

Challenge:

A PE firm operating partner came to us challenged by the lack of integrated systems his portfolio companies had for reporting on key metrics. Each company had different reporting measures for each of its different KPIs and digging into these metrics across each company in the portfolio was inefficient, inhibiting quick decision making, and consuming valuable time.

In order to win back time and monitor his portfolio companies with ease, he came to us in need of a third party that could ultimately create one dashboard that would report on all of the same metrics for each company across the portfolio. Immediately, they were looking for a group that could start by doing this for one portfolio company as a pilot, in order to see if it would be useful if scaled across the entire portfolio.

Solution:

Leveraging our founder’s 20 years in private equity, we have extensive frameworks for assessing PE-grade data analytics needs. BluWave utilizes technology, data, and human ingenuity to pre-map, assess, monitor, and maintain deep pools of data analytics resources that uniquely meet the private equity standard. We interviewed the PE firm to understand their specific key criteria and then connected them to a select pre-vetted data analytics group from our invitation-only Intelligent Marketplace that had the capabilities that fit their exacting needs.

Result:

The selected data analytics group got to work on providing the PE firm with the needed dashboards by first implementing ETL (Extract, Transform, Load) software that could tie all of the pilot portfolio company’s systems into a single source of truth. Once this initial step was done, they were able to begin developing dashboards through a data visualization tool. By first combining all of the systems into a single source of truth, the dashboards were created in a way that would allow them to update in real-time, allowing the PE firm to access key data points for the portfolio company at the click of a button.

This was such a success with the first portfolio company that they were able to implement the ETL software across the portfolio, bringing each company’s data to the same point of maturity and combining it into a single source of truth. This allowed dashboards to not only be created for each separate company, but also allowed for dashboards to be created that connected all of the portfolio companies’ data together in order to analyze portfolio-wide trends. This resulted in time being saved at both the portco and PE level, as well as resulted in significant business improvements being made throughout the portfolio due to trends that the dashboards highlighted.

Download a copy of this case study.

View more case studies to learn how we are helping other leading PE firms drive success with ease.

Interested in connecting with us on your need? Contact us here.

2022 PE Innovator of the Year, MiddleGround Capital

Our inaugural 2022 Top 50 PE Innovator Awards recognized the top 1% of firms in the private equity industry as determined by BluWave for their innovative practices in:*

  • Proactive Due Diligence Practices
  • Transformative Value Creation
  • Progressive Private Equity Firm Operations
  • ESG

As part of our awards, we recognized MiddleGround Capital as the 2022 PE Innovator of the Year due to their differential achievements across the above categories. MiddleGround makes control equity investments in B2B industrial and specialty distribution businesses. The firm was founded by John Stewart, Lauren Mulholland, and Scot Duncan in 2018. MiddleGround partners with small and mid-sized businesses, providing extensive operational resources to help them build and grow. The firm is a signatory to the United Nations-supported Principles for Responsible Investment, which provides a framework for investing responsibly and integrating ESG practices into investment practices.

Learn more about why MiddleGround was selected for this top award as well as their approaches to due diligence, value creation, pe firm operations, and ESG in the video below.

View the full list of awardees here.

 

*BluWave, LP has not received investment capital from and holds no ownership interest in the PE firms evaluated or recognized under the Top 50 PE Innovator awards program. BluWave received no compensation from any of the PE firms in connection with this awards program. However, BluWave may otherwise provide services to the PE firms and/or portfolio companies, but BluWave confirms that its assessment of the PE firms was independent of any such service arrangements. Top 1% in the PE industry is based on BluWave’s review of the more than 5,000 PE firms in the U.S. and Canada from which 50 PE firms were selected as award recipients.

Top 50 Private Equity Innovator Awards | 2022

We are pleased to announce the inaugural 2022 Top 50 Private Equity Innovator Awards, an award recognizing firms that represent the top 1% in the private equity industry as determined by BluWave for their innovative practices in:*

  • Proactive Due Diligence Practices
  • Transformative Value Creation
  • Progressive Private Equity Firm Operations
  • ESG

The BluWave Top 50 Private Equity Innovator Award recipients were selected based upon a rigorous assessment in consultation with leading limited partners, investment bankers and other thought leaders in the private equity ecosystem. Partnering with more than 500 leading private equity firms, we have a unique perspective that enables us to understand best practices and innovation in the private equity industry.

“Private equity is a driving force in the economy, supporting the growth and development of virtually every type of business and providing more than 11 million jobs in America,” says Sean Mooney, Founder and CEO, BluWave. “We congratulate these top 50 private equity firms that are taking uniquely innovative approaches to building businesses and creating sustainable value for a wide range of stakeholders.”

BluWave also recognizes Lexington, Kentucky headquartered MiddleGround Capital with the Innovator of the Year Award due to the company’s achievements across due diligence, value creation, PE firm operations, and ESG. MiddleGround makes control equity investments in B2B industrial and specialty distribution businesses. The firm was founded by John Stewart, Lauren Mulholland, and Scot Duncan in 2018. MiddleGround partners with small and mid-sized businesses, providing extensive operational resources to help them build and grow. The firm is a signatory to the United Nations-supported Principles for Responsible Investment, which provides a framework for investing responsibly and integrating ESG practices into investment practices.

You can discover further information on the BluWave 2022 Top 50 Private Equity Innovator Awards, including the selection process, selection criteria, and recipients, here.

 

*BluWave, LP has not received investment capital from and holds no ownership interest in the PE firms evaluated or recognized under the Top 50 PE Innovator awards program. BluWave received no compensation from any of the PE firms in connection with this awards program. However, BluWave may otherwise provide services to the PE firms and/or portfolio companies, but BluWave confirms that its assessment of the PE firms was independent of any such service arrangements. Top 1% in the PE industry is based on BluWave’s review of the more than 5,000 PE firms in the U.S. and Canada from which 50 PE firms were selected as award recipients.

BluWave Team Interviews | Libby Hall Cornelius, Senior Manager

BluWave office operations, team outings, hiring, & billing all would not be possible without BluWave’s HR and office manager extraordinaire, Libby Hall Cornelius (not to mention the lack of caffeination our team would experience without her stocking the kitchen!). Libby is the Senior Manager of Office & Facilities, People, & Event Management at BluWave and has the honor of holding the title of BluWave employee #1. We recently talked to Libby to learn more about why she decided to join and help start the BluWave team as well as what it is she loves about her job.

How did you hear about BluWave?

A former colleague of mine from San Francisco introduced me to Sean when he was starting BluWave and was looking to hire someone in Nashville that had a background in events.

What made you want to apply for BluWave and why did you ultimately decide to join the BluWave team?

I didn’t have a background in private equity but after meeting Sean, I could tell that he understood this industry, the pain points it had, and how to solve some of those pain points. His vision and the fact that he had a number of people who were willing to financially back the company sold me on the idea of BluWave. It was definitely a risk to be the first hire but it is also a risk that I’m glad I took.

What’s your favorite part about our team and culture? 

I love that we make a point of getting to know each other as people, not just coworkers. We do this through internal passion project presentations, social events, and volunteering. We’re all working hard, but we do try to keep it light in the office (I like to think putting up animal and travel cams on the tv near my desk contributes some!).

What excites you the most about the future of BluWave?

The nearly unlimited potential – I’m amazed every day at how much we’ve grown in such a short amount of time and I only foresee that continuing.

Moving into some of the specifics with your role, what was your background before joining BluWave?

I received my degree in Music Business here in Nashville at Belmont University but then worked in tech marketing and events in San Francisco for seven years. When I moved back to Nashville and joined BluWave, my focus was initially going to be events, but my role has progressed as the company has evolved.

What’s your favorite part of the job and what do you find most rewarding about it?

My favorite part of the job is the variety of things I get to do — everything from planning a weekly office snack break, working with our clients and service providers on billing, and doing phone screens with potential new team members – sometimes all in a single day.

Out of these activities, planning our team events, both social and volunteering, is most rewarding. Our culture is a big part of what makes BluWave such a great place to work, and these events are integral to that.

Now for the fun stuff, what are your favorite hobbies and activities when you aren’t in the office?

Volunteering with Nashville Cat Rescue (and spending time with my own cat, Sophie), doing yoga, listening to podcasts, and planning the next home improvement project or trip with my husband.

Favorite podcast?

Mostly anything true crime – Morbid and The Piketon Massacre recently, but Disgraceland is also a favorite.

Outside of the true crime genre, Reply All is a top choice.

Go-to vacation spot?

I always like to go to different vacation spots — next up are the Maldives, Morocco, and maybe Savannah, GA.

 

 

If you’re interested in joining the BluWave team, be sure to check out our open positions.

In The Know: Interim Executives

As part of an ongoing series, we’re sharing real-time trending topics we are hearing from our 500+ PE firm clients. In our most recent installment, one of our Managing Consultants, Keenan Kolinsky, talks about one of the ways private equity firms are responding to The Great Resignation – Interim Executives. He shares why the need for interim executives is rising in private equity, how they can be used, and why they are beneficial especially to PE firms.

Interested in learning more about interim executives, how our clients have utilized them, and how we help? Check out our Interim Executives Hub to find case studies, scorecards, and more.

You can also learn more from Keenan in the video below.

Interested in connecting with an interim executive? Contact us here or click the “start a project” button above. We would be happy to promptly begin assisting you.

 

 

 

BluWave Team Interviews | Evan Garoutte, Account Manager

Our Business Development team diligently works to stay in touch with our current clients and walk prospects through our business model and how we can help them. We recently talked with one of our BluWave Account Managers on the BD team, Evan Garoutte, to learn more about why he chose to join BluWave and what he enjoys about being on the BD team.

What made you want to apply for BluWave and why did you ultimately decide to join the BluWave team?

BluWave stood out to me as an organization that was solving a unique problem in a very interesting space. It was clear through the interview process that BluWave had a hardworking, strong team and I wanted to be a part of it.

What’s your favorite part about our team and culture? What excites you most about BluWave?

My favorite part about our team and culture is that everyone is driven to succeed and wants us to succeed as a team. We have an amazing team of go-getters, but always maintain the idea that it’s better to win together.

How have you seen the BluWave Values of “Team, Value, Grow, Win” play out in your time here?

I see our Team value play out every day. It really takes all hands on deck to deliver a fantastic experience for our customers. Starting with our marketing department that creates awareness of BluWave, our Account Management team introduces the prospect to the platform, and then our Research and Operations team scopes and executes on the client’s need.

What excites you the most about the future of BluWave?

I think what we’re doing is really unique and it’s crazy to think about how much we’ve accomplished in a short amount of time, like making number 127 on the Inc. 5000 list this year. With our team, it feels like the sky is the limit.

Moving into your role and the Business Development function, why did you choose to go into this field and what do you find most rewarding about your job?

I chose to go into Business Development because I love talking to people and building genuine supportive relationships. My role allows me to do that every day.

When I’m on a call and a client says that they wish they knew about BluWave x-amount of time ago because we could have solved so many of their needs, it’s proof that what we’re doing is actually making a difference for our customers, and I find that incredibly rewarding.

Now for the fun stuff, what are your favorite hobbies and activities when you aren’t in the office?

I love to read and play golf. I’m also a huge sports fan – particularly soccer and football. You can check out (part of) my soccer scarf collection at my desk.

Favorite podcast?

Circling Back – a podcast about three thirty-plus guys trying to stay relevant in today’s meme culture.

And finally, what’s your favorite Nashville restaurant?

Little Hats Italian Market

 

If you’re interested in joining the BluWave team, be sure to check out our open positions.

February 2022 Roundup: BluWave Client Insights

BluWave works with over 500 PE funds from around the globe as well as their portfolio companies and proactive independent companies, connecting them with pre-vetted, best-in-class, third-party service providers across a variety of resource and functional areas. From information technology and manufacturing to healthcare, consumer goods, and beyond, our clients are expert business builders. In other words, they have their heads in the game and their hands on the pulse of news and insights you can use.

Check out the latest, curated collection of reports, insights, and musings from a handful of our PE fund clients on everything AIOps, cybersecurity, 2021’s deal frenzy, and data.

Advent shares why they are excited by businesses in the digital innovation industry and goes into detail about their BigPanda platform, why it is a disruptor in the AIOps market, and how it is sustaining the digital lifeline.

Read the blog >>>

Cybersecurity threats are always increasing in today’s business landscape and the leader of Blackstone’s Portfolio Cybersecurity team, Adam Mattina, shares five approaches you can take to build more resilient companies as it comes to cybersecurity – including knowing your footprint and identifying your lineup of outside experts.

Learn more >>>

Brad Armstrong, Partner at Lovell Minnick Partners, speaks to the deal frenzy that was 2021, what the expectations are for M&A activity in 2022, and why the outlook remains positive.

Read more >>>

On the latest episode of The Private Equity Funcast, Pam Lang, CEO of Xcelerated Data, joins Jim Milbery to discuss B2B data lists, including explaining compiled lists, hotlists, the differences between consumer lists and business lists, and more on fixing data quality problems in order to lead to better decisions in marketing organizations.

Listen to the episode >>>

 

If you are in need of resources that can proactively help you with cybersecurity, are interested in learning more about 2021’s PE activity, or need any PE-grade, third-party resource quickly give us a shout.

Read what some of our clients had to say last month.

Sean Mooney on The Private Equity Podcast

Recently, BluWave founder & CEO, Sean Mooney, spoke with Alex Rawlings on The Private Equity Podcast about how PE firms and their portfolio companies can develop better communication and therefore better relationships. They discussed common mistakes by PE firms and portcos, how PE investors can better connect with portcos, how to select the best service providers, and more. They also discussed insights into the private equity industry and what Sean misses from his PE partner days.

Interested in listening to the whole podcast yourself? Click below.

Check out some of the other podcasts Sean has shared his wisdom on, including Private Equity Funcast, Growth Think Tank, & Middle Market Musings.

If we can help you be successful by quickly connecting you to the PE-grade, pre-vetted, third parties you need, give us a shout.

 

BluWave Team Interviews | Cydney Dicken, Strategic Account Executive

A crucial part of BluWave is our Research & Operations team. This group of individuals diligently works to quickly scope clients’ needs, onboard PE-grade service providers, and connect clients with the exact-fit providers that meet their unique needs. Recently, we sat down with a Strategic Account Executive from the R&O team, Cydney Dicken, to learn more about her role and why she joined BluWave in April of 2021.

How did you hear about BluWave and what made you want to apply for your position?

I found BluWave through LinkedIn. I was potentially looking for a job in the PE world and the job description caught my eye.

What’s your favorite part about our team and culture? What excites you most about BluWave?

I love the close relationships that come with being on the BluWave team. We all have great relationships with each other and genuinely enjoy being around each other. That makes coming to work really fun because our day-to-day interactions with each other are always positive. As far as what excites me about BluWave, it’s definitely how fast we are growing.

Moving into your role and the Research & Operations function, what’s your background and why did you choose to go into this field?

When I first graduated college, I worked in sales as a sort of stepping stone. I was really drawn to our Research & Ops team because I do well at being organized and thinking through projects, which was a perfect fit for what our team does.

What’s your favorite part of the job and what do you find most rewarding about it?

My favorite part is definitely having the opportunity to learn about so many different nuanced aspects of business across a wide array of sectors & industries. Working with 500+ PE firms, their portfolio companies, and proactive companies, we get to learn about all the nuances for everything from inflation struggles in manufacturing companies to recruiting needs at a recently merged food and beverage company.

Closing a project with a client is what I find most rewarding

Now for the fun stuff, what’s your favorite restaurant here in Nashville?

This is a hard one, but I think I have to go with Superica.

What are your favorite hobbies and activities when you aren’t in the office?

Hanging out with friends, playing with dogs (even though I don’t have one here), & trying new hot sauces.

And finally, what’s your go-to vacation spot?

Hawaii.

 

If you’re interested in joining the BluWave team, be sure to check out our open positions.