Customer Type: PE Firms

C-Suite Executive To Streamline Dental Operations

Service Area: Executive Recruiter

Client Type: Portfolio Company – Dental Clinic

Service Provider Type: Operations Executive

Industry: Healthcare Services

The Need
Optimizing Dental Business’s Leadership

A multi-location dental business needed a COO to turn around the organization’s operations. The goal was to enhance efficiency by overseeing regional managers and streamlining various aspects of the dental clinics.

The Challenge
Navigating Complex Operations

The business needed the rare COO capable of managing six regional managers, each overseeing a cluster of dental clinics. Additionally, the C-suite executive needed to address specific requirements such as inventory management, customer relationship management, advertising and P&L responsibilities. Identifying an executive proficient in dental healthcare operations while possessing the aptitude for process optimization added to the complexity.

How BluWave Helped
The Perfect Match on Standby

BluWave presented a short-list of accomplished industry-specific recruiting firms. The dental business selected one, and was connected with a candidate who showcased expertise in multi-location healthcare operations, displaying an adept understanding of streamlining processes, inventory management and customer engagement. His background, including lean transformation knowledge, aligned perfectly with the portfolio company’s requirements.

The Result
Drastic Operations Improvement

With his proficiency in regional management, inventory control and customer relations, the new chief operations officer drastically improved the dental clinics’s day-to-day functions. This engagement demonstrated BluWave’s ability to connect specialized recruiting firms with the unique needs of small-market private equity firms and their portcos, fostering operational excellence in specialized industries.

Operations Integration: Industrial Park Carveout

Service Area: Merger Planning & Integration

Client Type: Small Market Private Equity Firm

Service Provider Type: Carveout Consultant Experts

Industry: Industrial Services

The Need
Standing Up Operations

When confronted with a corporate carve-out investment opportunity under LOI, a small-market private equity firm sought BluWave’s assistance in orchestrating a seamless transition for a new entity. This carve-out, centered around an industrial park in the south-central U.S., required focused expertise in accounting, finance and HR functional areas.

The Challenge
Complex Carve-Out Dynamics

The complexity of the carve-out scenario was heightened by the diverse array of services provided by the new entity, which included utilities like steam, rail, nitrogen and compressed air to multiple tenants, primarily large chemical manufacturers. The intricate billing structures, coupled with the transition from the parent company’s systems, created a challenging operational environment that needed efficient streamlining.

How BluWave Helped
Facilitating Operational Transition

BluWave connected the private equity firm with a merger planning and integration service provider specializing in complex carve-outs. This expert team was well-versed in the unique operational demands of the petrochemical industry, with experience in downstream, refining and industrial manufacturing.

The Result
Smooth Operational Setup

Through strategic planning and tailored solutions, the service provider orchestrated a seamless transition for the carve-out entity. A team of skilled professionals were deployed to ensure the setup of accounting, finance and HR functions. This temporary team’s task was to not only establish operational stability but also ensure a smooth handover to a future controller or CFO, enabling sustained operational excellence.

The new entity emerged from the carve-out process with an efficiently functioning operational backbone, poised to continue its growth trajectory in the industrial park landscape.

Expert Chief of Staff in the Software Industry

Service Area: Executive Search

Client Type: Middle-Market Private Equity Firm

Service Provider Type: Executive Search Firm

Industry: Technology – Software

The Need
Enhancing Operational Synergy

In the early stages of acquiring a digital mortgage solutions provider a middle-market private equity firm sought an effective chief of staff to drive the integration process and optimize operational efficiency. The acquired company’s expansion strategy and portfolio growth prompted the need for an experienced executive capable of orchestrating seamless transitions.

The Challenge
Unifying Post-Acquisition Dynamics

The chief of staff position needed to address a multifaceted challenge. The acquired digital mortgage solutions provider operated within the intricate domain of technology and software. Additionally, the firm’s existing portfolio contained companies that could benefit from digital strategy expertise. Establishing unity between these diverse components required strategic alignment and cross-functional integration.

How BluWave Helped
Orchestrating Seamless Integration

BluWave connected the firm with an executive search firm that understood the intricacies of the technology industry and the nuances of executive leadership. The visionary leader selected possessed the expertise to bridge the gaps between the acquired mortgage solutions provider, the existing portfolio companies, and the firm’s strategic goals.

The Result
Accelerating Digital Transformation

Through a tailored executive search, the service provider identified a dynamic chief of staff with a profound background in technology and software. This executive’s expertise in project management, cross-functional collaboration and digital transformation uniquely positioned them to orchestrate seamless integration.

The PE firm’s portco overcame the complexities of merging diverse entities within the technology and software industry, ultimately accelerating their journey toward digital transformation and operational excellence.

What To Do When Your Service Provider is at Capacity

August 15, 2023 Brad Gerick

Connecting with a service provider you can trust is like looking for a great dentist. Once you find “the one,” you wouldn’t put your teeth in anyone else’s hands.

The same goes for your business. After a successful engagement with a trusted third party, you save a lot of time by contacting them directly the next time you have a need.

There are reasons you have go-to service providers: they’re fast, reliable and they know your business.

But if you love them so much, you’re probably not their only client. Far from it.

So what happens when you reach out and they tell you they simply don’t have the capacity to take on more work on the timeline you need? Or worse yet, they give you their B-team.

We’re glad you asked.

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A man in a blue suit and white button-up with a tie, who's also wearing glasses, sitting across the desk from a woman

There are a number of reasons service providers could suddenly be in high demand. A bounce-back from a recession. A surge in deal flow. A hot new trend of which everyone’s trying to stay ahead.

When this happens, BluWave is on standby with a deep bench of trusted, PE-grade third parties who can deliver the exceptional work you expect no matter what your industry.

In fact, we experienced this post-COVID recovery when the whole world got back to business at once and it seemed like there wasn’t enough help to go around. At that time, we heard from dozens of private equity firms that couldn’t book their preferred third-party resource.

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We helped those firms by connecting them with industry-specific firms and consultants that understood their business’s most pressing needs.

Every service provider in the Business Builders’ Network has gone through a rigorous vetting process, giving us confidence in every match we make whether it’s a first-time engagement or a repeat relationship.

BluWave founder and CEO Sean Mooney has three tips for organizations when their usual service providers are at full capacity.

1) Use Alternatives

“If you’re go-to is sold out, don’t try to force them into giving you capacity. You’ll get the C team,” Mooney says. “There are plenty of other comparable PE-grade specialists that you should use.”

2) Use Substitutes

“There are other diligence and value creation products that go by a different name but still serve your need,” he adds. “For instance, if you can’t get a commercial due diligence group to meet your deadline, use a voice of the customer group to do a deep dive on your target’s customers.”

3) Use Independent Consultants

“There’s a select world of independents who spun out of name-brand shops and can give you the same product at a fraction of the cost,” Mooney says. “This cohort works well not only for commercial diligence, but also for operational and HR diligence as well as value creation.”

Mooney recognizes that trusting your most important work to new partners can be scary. With the right introduction, though, the risk can have a huge payoff.

“Using new groups can be nerve-racking,” he says, “but the BluWave network of PE-grade resources is on standby to meet your specific needs.”

Get Connected Now

Whether your go-to service providers are at full capacity, or you just don’t know who to turn to, give our research and operations team a call. They’ll connect you with a shortlist of exact-fit third parties within a single business day, and be by your side until the completion of the project.

Market Study for Financial Services Acquisition Target

Service Area: Commercial Due Diligence

Client Type: Upper-Middle Market Private Equity Firm

Service Provider Type: Strategy – Market Study

Industry: Professional Services

The Need
Niche-Specific Financial Services Market Study

An upper-middle market PE firm wanted to conduct a comprehensive market study on an acquisition target: a company that provides part-time finance resources and accounting services to non-profits.

The Challenge
Navigating Multifaceted Industry

The challenge lay in dissecting the multifaceted industry landscape, combining accounting, consulting and staffing. The market study would need to reveal client behaviors, buyer dynamics, TAM and competitive landscape.

How BluWave Helped
Strategic Connection for Deep Market Insights

BluWave identified a market study firm with:

Non-profit Expertise: Specializing in financial services, offering insights into accounting, consulting and staffing dynamics.

Comprehensive Analysis: Explored client behavior, buyer landscape, competitive positioning and growth potential in nonprofit financial services.

Future-Forward Focus: Investigated data analytics and cloud synergy with nonprofits, enhancing AI/ML capabilities and implementation strategies.

The Result
Study that Surpasses Expectations

The market study revealed all the PE firm had hoped for and more:

Holistic Understanding: Unveiled nonprofit finance nuances, including part-time resources and consulting, providing a comprehensive sector view.

Strategic Opportunities: Analyzed client behaviors and growth prospects, empowering the PE firm with expansion strategies.

Future Resilience: Explored data analytics and cloud services’ role in nonprofit finance, boosting sector resilience and innovation.

Great communicators with a strong command of the materials and the mandate.

Director at PE Firm

Interim CFO Transforms a Physiatry Powerhouse in Flux, is Hired Full-Time

Service Area: Interim Executives

Client Type: Upper-Middle Market Private Equity Firm

Service Provider Type: Interim CFO

Industry: Healthcare – Physiatry

The Need
Transformative Financial Leadership for a Growing Healthcare Powerhouse

An upper-middle market PE firm recognized the need for transformative financial leadership for their portfolio company – a physiatry and orthopedic Managed Services Organization (MSO) boasting impressive figures.

The Challenge
Orchestrating Financial Excellence in a Multifaceted Industry

The challenge lay in finding an interim CFO who could not only oversee traditional financial operations but also manage the intricacies of healthcare and physician practice management. This role demanded expertise in healthcare finance, physician compensation, M&A and a deep understanding of the unique healthcare payer landscape.

How BluWave Helped
Connecting Interim CFO with Relevant Experience

BluWave’s strategic expertise led to quickly connecting the client with an interim CFO who brought the required unique blend of skills to the table:

Healthcare Acumen: The temporary CFO possessed a strong background in healthcare finance, particularly within the orthopedic and physician practice realms. This expertise was critical for understanding physician compensation, specialized payer dynamics and healthcare industry intricacies.

M&A Mastery: With a track record of successful M&A endeavors, the interim CFO seamlessly guided the acquisition process, ensuring a smooth transition and integration for the newly acquired orthopedic business.

Operational Finesse: Beyond financial prowess, the interim CFO’s hands-on approach, coupled with high EQ and strong leadership, helped streamline internal priorities and physician compensation tracking.

The Result
Smooth Transition, Operational Efficiency

The interim CFO had such a transformative impact on the business that he was hired full-time:

Smooth Acquisition Integration: The newly acquired orthopedic business was skillfully integrated, ensuring a seamless transition and operational excellence from the outset.

Physician Compensation Tracking: With expertise in physician practice management, the temporary finance executive introduced efficient systems to track physician compensation, ensuring transparent and fair processes.

Operational Efficiency: The interim CFO’s operational finesse, combined with financial acumen, led to optimized internal processes, enhanced physician collaboration and a more streamlined healthcare organization.

Temporary Finance Leader for a Creative Digital Agency

Service Area: Interim Executives

Client Type: Lower-Middle Market PE Firm

Service Provider Type: Interim CFO

Industry: Generalist

The Need
Financial Leader in a Creative Environment

A lower-middle market PE firm sought a transformative interim CFO who could not only handle financial intricacies but also bring operational excellence to a digital agency. More specifically, they needed a leader who could navigate the complexities of financial leadership, revenue forecasting and project management within a creative environment.

The Challenge
Balancing Innovation and Financial Strategy

The challenge lay in hiring an interim CFO who could bridge the gap between financial expertise and operational intricacies within a cutting-edge agency. This role demanded a fine balance between revenue forecasting accuracy, project management efficiency and team collaboration, while maintaining an innovative environment.

How BluWave Helped
An Interim CFO who Checked All the Boxes

BluWave’s strategic approach resulted in the identification of a versatile interim CFO, armed with the following capabilities:

Holistic Leadership: The interim CFO demonstrated not only financial acumen but also COO-like capabilities. This unique blend enabled effective communication with both the executive team and the board.

Operational Expertise: Beyond traditional financial responsibilities, the interim CFO brought strong operational abilities. This included holding leadership accountable for numbers, driving results and orchestrating seamless project management.

Digital Agency Insight: With a background in the digital realm, the interim CFO was well-versed in the agency’s project and retainer models. This understanding facilitated accurate revenue forecasting and guided the team to informed decisions.

The Result
Overwhelmingly Successful Turnaround

The interim CFO had a lasting impact in multiple areas:

Streamlined Forecasting: The digital agency gained a tangible advantage in revenue forecasting accuracy, thanks to the temporary executive’s ability to create practical and actionable financial projections.

Effective Project Management: The interim CFO’s project management skills enabled the agency to convert forecasts into actionable project plans, fostering efficient execution and driving results.

Cohesive Team Collaboration: The interim CFO’s COO-like qualities played a pivotal role in maintaining a collaborative and motivated creative team, all while ensuring financial goals were met.

The financial situation was worse then advertised by the portco. This is not a growth situation – it is a turnaround and stabilization. The interim you gave us is a pure 10. He is exactly who we needed to fix this mess.

-Principal at PE Firm

Interim CIO Leads Complex Carve-out Integration

Service Area: Interim Executives

Client Type: Large Cap Private Equity Firm

Service Provider Type: Interim CIO

Industry: Financial Services

The Need
Empowering Carve-Out Success Through Expert Interim CIO

Amid a complex carve-out situation, a leading private equity firm sought an interim CIO with deep expertise in financial services. The goal was to establish seamless IT integration for a financial services carve-out from a large bank. BluWave’s expertise in connecting clients with specialized service providers played a pivotal role in finding the right interim CIO to drive technology alignment and orchestrate a successful transition.

The Challenge
Seamless IT Transition

Carving out a financial services business from a large bank involves intricate technology integration challenges. From establishing IT infrastructure and data security to orchestrating a smooth transition for a sub-100 person entity across multiple locations, the need for a seasoned interim CIO was evident. The task was to ensure continuity while transitioning from the parent company’s systems to an independent setup.

How BluWave Helped
Matching the Right Expert with a Complicated Situation

BluWave’s white-glove approach identified the exact interim CIO the firm needed:

Holistic Advisory: The interim CIO was equipped to guide the carve-out through four critical stages – corporate infrastructure setup, end-user security, day one setup, and day one to day X transition.

Data Migration Expertise: With experience in handling standalone systems and homegrown software, the interim CIO offered a roadmap to ensure a seamless transition of essential data.

Strategic Roadmaps: Understanding the carve-out’s unique landscape, the interim CIO formulated actionable plans for technology stack development, vendor selection and realistic timelines for implementation.

The Result
PE Firm Thrilled with Carveout

The interim CIO handled a difficult situation even better than the PE firm had hoped:

Seamless Transition: The interim CIO played a pivotal role in ensuring a smooth IT transition, safeguarding data security and business continuity.

Efficient Data Transfer: The carve-out’s standalone systems were meticulously migrated to new infrastructure, ensuring access to historical data and efficient operations.

Strategic Roadmaps: Expertly crafted roadmaps and advisory ensured the carve-out’s technology setup and transition aligned with its unique requirements.

It was an ambiguous challenge for him to navigate, but things are working out. The criticality of this was paramount, and he really picked it up in the last few weeks.

-Vice President at PE Firm

Navigating an Intercontinental Aerospace Merger

Service Area: Merger Planning & Integration: Post Merger Integration

Client Type: Middle Market Private Equity Firm

Service Provider Type: Post Merger Integration Consultant

Industry: Manufacturing: Aerospace

The Need
Forging Unity Across Borders

When a middle-market private equity firm acquired an international aerospace entity, the challenge of seamless integration across borders emerged. Seeking expertise beyond their organization, they turned to BluWave for strategic matchmaking with a post-merger integration (PMI) specialist.

The firm understood the critical role of effective integration in maintaining business continuity and customer trust, and they wanted outside help to do it.

The Challenge
Bridging Gaps in Aerospace Integration

With a multi-country aerospace entity acquisition, the complexities of integration spanned geographical, operational and cultural dimensions. The task of harmonizing processes, systems and customer interactions across 14 countries presented a formidable challenge. The focus was on preserving customer trust, especially with industry giants, while optimizing operational efficiency in the global landscape.

How BluWave Helped
Industry-Specific Resource with International Experience

BluWave’s intimate knowledge of the world-class service providers in its network accelerated the PE firm’s selection of an exact-fit service provider:

Expert Identification: BluWave knew exactly which PMI specialists had aerospace knowledge and cross-border integration experience.

Customized Matching: Through a thorough assessment of the client’s requirements, BluWave matched them with a PMI consultant whose expertise aligned with the specific challenges of aerospace integration.

Strategic Alignment: BluWave ensured that the chosen PMI expert understood the client’s objectives, including maintaining customer trust, achieving operational efficiency and realizing synergies.

The Result
Achieving Integration Excellence

The PMI specialist delivered for the PE firm across the board:

Seamless Transition: The acquired aerospace entity underwent a smooth integration, preserving customer relationships and business continuity.

Operational Excellence: Cross-border collaboration and efficient integration processes contributed to optimized operations.

Customer Trust: Through meticulous execution, customer trust and satisfaction were upheld, especially with industry giants.

Seamless Integration for a PortCo’s First Add-On Acquisition

Service Area: Merger Planning & Integration

Client Type: Lower-Middle Market Private Equity Firm

Service Provider Type: Integration Consultant

Industry: Professional Services

The Need
Navigating the First Steps of Expansion

A lower-middle market private equity firm’s portfolio company was poised for its first substantial add-on acquisition. The organization specialized in transaction-based due diligence support for law firms, encompassing vital tasks such as litigation summaries, background checks and certificates of good standing.

With a dedicated team of paralegals and a proprietary tech-enabled workflow tool, the company had carved a niche in the market. The impending integration of the add-on acquisition marked a pivotal step, though, demanding meticulous planning and expert execution.

The Challenge
Orchestrating Harmonious Integration

The challenge lay in orchestrating the integration of the add-on acquisition while ensuring minimal disruption to the existing operations. The portfolio company’s unique business model involved a distributed setup across multiple fulfillment offices nationwide. Siloed workflows and varying systems compounded the integration complexity. With aspirations to synchronize operations and create a standardized platform, the portfolio company sought an integration consultant to guide them through the process.

How BluWave Helped
Crafting a Blueprint for Seamless Integration

Collaborating closely with the portfolio company, the BluWave-selected service provider crafted a comprehensive integration strategy that aligned with the company’s growth objectives. The multifaceted approach encompassed:

Pre-Close Planning: The service provider defines integration objectives, assessed synergies and outlined the integration process.

Tech-Enabled Solutions: Given the nature of the portfolio company’s operations, the service provider recognized the potential for tech-enabled solutions. Robotic process automation (RPA) was explored to alleviate repetitive computer-based tasks and streamline workflows, enhancing efficiency and reducing the burden on human resources.

Operational Harmonization: Finally, the service provider facilitated discussions and collaboration between headquarters and fulfillment offices, fostering a unified approach. The integration plan focused on gradually migrating offices onto a common system while preserving operational continuity.

The Result
Paving the Path to Scalable Growth

By providing a clear roadmap, harmonizing operations and leveraging tech-enabled solutions, the integration process yielded several outcomes:

Smooth Transition: The integration was executed with minimal disruption to ongoing operations, allowing the portfolio company to maintain service quality and customer satisfaction.

Operational Efficiency: The implementation of RPA reduced the burden of repetitive tasks, freeing resources to focus on value-added activities.

Scalability: The integrated platform laid the foundation for future acquisitions by creating a standardized framework and a playbook for successful integration.

Manufacturing Growth through Market Insight Diligence

Service Area: Commercial Due Diligence: Market Study

Client Type: Middle-Market Private Equity Firm

Service Provider Type: Market Research Firm

Industry: Manufacturing

The Need
Seizing Growth Potential in Heat Treating

Our middle-market private equity firm client sought to empower its portfolio company operating in industrial manufacturing. The portco was a leader in gas nitriding technology, primarily catering to the automotive, aviation and industrial sectors. The firm aimed to broaden the company’s horizons by identifying new opportunities within heat treating, especially in areas beyond gas nitriding. The goal was to expand its offering through strategic add-ons that leveraged different heat treating technologies, driving further growth and market penetration.

The firm knew it would need a world-class commercial due diligence resource to match its ambitions.

The Challenge
Navigating the Complex Industry Landscape

The private equity firm faced the challenge of exploring a highly specialized sector – heat treating technology – to identify viable add-on opportunities. The task required pinpointing key players, understanding market drivers and evaluating potential target companies that aligned with the portfolio company’s capabilities and ambitions. Budget constraints demanded resourcefulness in delivering valuable insights without compromising quality.

How BluWave Helped
Industry-Specific Research Firm To Drive Expansion

BluWave connected the private equity firm with a PE-grade resource to conduct an in-depth market study, leveraging their expertise in market research and manufacturing. They then uncovered key players, market trends and drivers within the heat treating technology sector. Leveraging their understanding of the end-use industries, including automotive and aviation, the firm identified strategic alignment opportunities.

Their familiarity with furnace manufacturing, heat treating elements and component industries enabled them to analyze competitive processes, production methods and best practices.

The Result
New Pathways to Expansion

The third party firm’s market study equipped the portfolio company with a roadmap for expansion in the heat treating sector. By identifying key players, drivers and market trends, the private equity firm gained insights into new growth avenues. The study not only laid the groundwork for strategic add-on acquisitions but also provided a broader understanding of market dynamics, fostering informed decision-making.

The portfolio company was empowered to consider new technologies and approaches, aligning its offerings with the evolving demands of the automotive, aviation and industrial sectors.