Customer Type: PE-Backed Companies
What I Wish I Knew: Private Equity Leaders’ Advice to Their Younger Selves
Business Builders’ Bookshelf: Essential Reads for Strategic Success
Enhancing M&A, Financial Operations in Healthcare with Strategic Staffing
Service Area: Human Capital
Client Type: Portfolio Company
Service Provider Type: Temporary Staffing
Industry: Healthcare Services
The Need
Strategic Staffing for Financial Overhaul, M&A
A private-equity owned healthcare services provider, specializing in traumatic brain injury care, was gearing up for an eventual sale. They required highly skilled junior finance and accounting talent on a short-term or project basis to handle active M&A activities and internal projects, balancing manual data entry tasks with strategic financial operations.
The Challenge
Sourcing Versatile, Skilled Financial Talent Amid Growth
The main challenge was finding individuals with 3-5 years of experience in finance or accounting, preferably with a background in investment banking or accounting M&A. These professionals needed to be comfortable handling both strategic and manual aspects of financial projects, including M&A support, system integrations and exit preparation.
How BluWave Helped
Connecting Short List of Exact-Fit Candidates
BluWave utilized its network to connect a short list of candidates with the necessary skill set and flexibility. Emphasizing the need for familiarity with financial systems like NetSuite and Sage, and strong Excel skills, BluWave focused on professionals who could work remotely and adapt quickly to the company’s dynamic needs.
The Result
Streamlined M&A Processes, Efficient Financial System Management
The portfolio company selected the best fits from BluWave’s shortlist. They helped the company manage its M&A activities and internal financial projects. This temporary staff played a key role in preparing the company for a strategic sale, ensuring that financial systems were optimized and operational challenges were efficiently addressed.
Nick Shaw, Mirrorbox Leadership Lab | ‘My Teacher, My Son: Lessons on Life, Loss, and Love’
Dave Feierstein, Ronin Equity Partners | Transforming Business with a Hybrid Investor-Operator Approach
Eric Jensen, Nordic Capital | Achieving Operational Excellence: A Look into M&A and Talent Strategy in Private Equity
Making Life Easy for Human Capital Leaders
BluWave understands the urgency and sensitivity around the work human capital executives perform. That’s why we provide a curated suite of resources specifically designed for HR leaders to drive unprecedented value in their organizations.
CASE STUDY: Diversifying Talent in a Digital-First Consumer Products Startup
Our Business Builders’ Network not only understands your unique challenges but also provides tailored, bespoke solutions for talent leadership.
CASE STUDY: Controller with Leadership Skills for Resilient Growth
From specialized recruitment that targets niche roles to interim leadership that ensures your business doesn’t miss a beat during transitions; from mid-level staffing strategies that fortify your organizational structure to outsourced HR services that let you focus on core business functions — BluWave already knows the third-party service provider or consultant you need.
You can learn more about these services in this one-pager we prepared for talent leaders.
Set up a scoping call with our resources and operations team, and they’ll connect you with a select list of exact-fit resources within a single business day.
Strategic Executive Search for SaaS Sales Leadership
Service Area: Human Capital – Recruiting
Client Type: Upper-Middle Market PE Firm
Service Provider Type: Executive Search Firm – Sales
Industry: Technology – SaaS
The Need
Dynamic Sales Leadership for Market Expansion
A SaaS company, focused on local and municipal government solutions, needed a chief revenue officer to enhance its sales function and spearhead geographical and product expansion.
The Challenge
Niche Leader in a Specialized Sector
The challenge was to find a CRO with proven experience in SaaS sales to local and municipal governments. This person also needed to be capable of transforming a small, technology-centric team into a robust sales force. For this, they would need a specialized recruiting firm.
How BluWave Helped
Expert Matching for Specialized Executive Recruitment
BluWave utilized its extensive network to connect the client with an executive search firm specializing in sales leadership recruitment within the government sector. This group had a deep understanding of the specific skills and experience required for the role and provided a strong short list of candidates.
The Result
Placement of Tailored Sales Leaders
The firm worked with the company to hire a chief revenue officer who matched the company’s specific needs. This strategic appointment set the foundation for significant sales growth and expansion in the government sector.
Interim CFO To Revolutionize Financial Forecasting for Construction Portco
Service Area: Human Capital
Client Type: Construction Services Portfolio Company
Service Provider Type: Interim CFO
Industry: Construction and Engineering
The Need
Advanced Financial Forecasting for Strategic Growth
A leading construction services portfolio company needed a sophisticated 13-week cash-flow model. This would help them implement an effective borrowing needs forecast, which was especially critical due to their transition to a non-bank lender and the ongoing integration of multiple add-ons.
The Challenge
Complex Integrations in Dynamic Environment
The challenge lay in integrating diverse business units, each requiring distinct operational and financial strategies. Establishing an efficient system for forecasting collections and payments, integrating add-on companies and maintaining centralized accounting was crucial, given the extensive pipeline of add-ons to be managed promptly.
How BluWave Helped
Expertise and Precision in Financial Management Solutions
BluWave identified a short list of industry specific interim finance leaders with specific expertise in the construction industry’s complex financial structures. The candidate the portco selected had experience creating 13-week financial models and was exactly what the client needed. BluWave’s fast connection led to the implementation of bespoke forecasting and budgeting methodologies, essential for the client’s aggressive growth and integration plans.
The Result
Achieving Financial Streamlining, Effective Growth Management
The interim CFO’s introduction facilitated a smooth transition to an effective 13-week cash flow model, custom-designed for the client’s business framework. This strategic move significantly improved the company’s ability to manage borrowing needs and effectively handle their considerable add-on pipeline, leading to more streamlined financial operations and paving the way for successful growth and integrations.
Jay Hernandez of Raymond James: M&A Process Best Practices
Jay Hernandez recently joined the Karma School of Business podcast, sharing his insights into the dynamic world of private equity.
In his discussion with host Sean Mooney, Hernandez, an investment banker focused on industrial technology, talked best practices in mergers and acquisitions.
He emphasized the importance or preparation, understanding buyer psyche and building trust and reputation.
Here are some insights from their conversation.
3 Takeaways from Jay
1. M&A Preparation
Hernandez emphasized the importance of thorough preparation before entering the market. This involves not just understanding one’s own business but also being ready for the intense scrutiny that comes with merger and acquisition processes.
“It’s never too early to prepare for that event,” Hernandez said. “You always have to be prepared.”
Mooney agreed: “The more you do that, the more luck you tend to have in business and life, but also M&A processes.”
READ MORE: Why Mergers and Acquisitions Fail
Hernandez also stressed the importance of talking to key players early in the process.
“Engage your advisors, engage your experts well in advance. And it could be even a year or two in advance,” Hernandez said.
Mooney said that doing so can ensure that all aspects of the business are aligned and ready for the sale process.
“You should probably be talking with an investment banker right now so that when that light is green, you’re getting an early start,” he said.
2. Understanding Buyer Psyche
Hernandez also pointed out the increased depth and detail in buyers’ inquiries within M&As.
“The psyche of the participants has changed, and particularly on the buyers, and where that’s changed a lot is the areas that they’re digging into and the depth of which they’re digging into,” he said.
Mooney underscored the need for sellers to understand and anticipate the buyer’s perspective. He highlighted the diligence PE firms conduct in preparing for M&A processes.
“Private equity firms are spending more time making sure things are absolutely buttoned up so that they’re prepared to move as quickly as possible through an M&A process,” he said.
READ MORE: Merger Planning & Integration: Best Practices for Private Equity Firms
3. Building Trust and Reputation
Finally, Hernandez emphasized the necessity for buyers to maintain integrity and straightforwardness during the M&A process.
“You need to make sure that you’re doing it right for the company that you’re looking at, because at the same time, you’re going to be their partner going forward,” he said.
Mooney cautioned about the fragility of reputation.
“It takes a lifetime to build a reputation and literally 30 seconds to ruin it,” he said.
Hernandez added that “99.999 percent of the groups that we deal with and the buyers that we deal with are straight shooters and do exactly what they’re going to say.”
READ MORE: Post-Merger Integration: Framework, Keys to Success
Hernandez’s entire conversation with Mooney offers unique insight into the world of mergers and acquisitions from an investment banking perspective. (Stay tuned until the end for a time- and stress-saving life hack about cooking the perfect steak.)
When you’re done listening, head to the main BluWave podcast page for more conversations with business leaders.