SVP needs expert to improve operations performance for construction services portco
An SVP of a northeast-based PE firm came to us with an urgent need for an ops performance and improvement expert that could improve the management of their construction services portco’s field ops team. The PE firm was not confident in the head of field ops strategic leadership abilities and had noticed technician productivity was down and technician churn was up. They quickly needed a field ops expert who had seen a wide range of sizes and sophistications in field operations teams, and ideally had a strategic HR lens, to observe their teams and diagnose and roadmap improvements that could be made in order to increase productivity and reduce churn. The PE firm was looking to engage a provider immediately.
BluWave has pre-vetted operations performance consultant within network
Leveraging our founder’s 20 years in private equity, we have extensive frameworks for assessing PE-grade operations performance & improvement needs. BluWave utilizes technology, data, and human ingenuity to pre-map, assess, monitor, and maintain deep pools of operations consultants that uniquely meet the private equity standard. We interviewed the PE firm to understand their specific key criteria, and then connected the client with the select BluWave-vetted operations consultants from our invitation-only Intelligent Marketplace that fit their exacting needs.
Firm engages expert to drive operational improvement in portco
Within 24 hours of the request, the PE firm was introduced to three exact-fit operations performance & improvement providers that specialized in working with growing services businesses to improve their field operations team. The client selected and engaged their top choice, and the service provider was able to immediately assess gaps, identify opportunities, and create an improvement roadmap for the company.
Urgent data analysis needed to evaluate portfolio company
A LMM VP came to us with an urgent big data analytics need for a technology-focused portfolio company that they were evaluating. The PE firm recently retained access to some of the target’s transactional data sets and the size of them was overwhelming. They needed an expert with a strong analytics and B2B background that could take the data and create cohort analyses from it. With LOIs due in one week, they urgently needed a consultant that they could connect with pre-LOI so the consultant could then hit the ground running post-LOI.
BluWave has pre-vetted analytics consultant specialized in diligence
Leveraging our founder’s 20 years in private equity, we have extensive frameworks for assessing PE-grade big data and analytics needs. BluWave utilizes technology, data, and human ingenuity to pre-map, assess, monitor, and maintain deep pools of analytics consultants that uniquely meet the private equity standard. We interviewed the PE firm to understand their specific key criteria, and then connected the client with the select pre-vetted specialized consultant from our invitation-only Business Builders’ Network that fit their exacting needs.
Firm engages exact-fit data analytics consultant to immediately start project
Within the same day of the request, the PE firm was introduced to an exact-fit provider that specializes in analytics consulting during diligence. The client was engaged and was able to start the project immediately post-LOI. The provider was able to dedicate their resources to create a systematic method of creating meaningful analyses from the data sets and ultimately provide the client with the exact insight they needed.
Critical need for business analytics provider specializing in ecommerce sales
A middle market PE firm director came to us with an immediate need to optimize their portfolio company’s ecommerce sales via third-party platforms. With two of their primary sales channels being the world’s largest third-party ecommerce platforms, they knew they needed to optimize the opportunity that existed there. The PE firm and portfolio company were in need of a business analytics expert with a strong ecommerce background that could look at their third-party sales data and provide recommendations on how to increase the sales they made via these channels. They needed a provider that could provide holistic strategic recommendations that could be presented at the company’s board meeting in a couple of weeks.
Using our extensive network, BluWave identifies pre-vetted specialized provider
Leveraging our founder’s 20 years in private equity, we have extensive frameworks for assessing PE- grade business intelligence and analytics needs. BluWave utilizes technology, data, and human ingenuity to pre-map, assess, monitor, and maintain deep pools of analytics advisors that uniquely meet the private equity standard. We interviewed the PE firm to understand their specific key criteria, and then connected the client with the select pre-vetted specialized business analytics consultant from our invitation-only Intelligent Marketplace that fit their exacting needs.
Firm successfully connects to niche ecommerce analytics consultant
Within 24 hours, the PE firm was introduced to multiple, specialized service providers with the exact-fit niche ecommerce analytics experience they were looking for. The client confidently engaged with their selected consultant and was able to start the project immediately. The provider started the project by first understanding the client’s sales data that existed on these platforms and then began to draw insight on how opportunity in these channels could be optimized through key word optimization, product tagging, and more.
Manufacturing company in need of procurement consulting group
A food & beverage manufacturing company needed a procurement consulting group that could generate input cost savings. Having been recently acquired they needed a resource to develop and implement a sophisticated purchasing and procurement strategy for them. With COVID and inflation leading to supply chain issues and fluctuating prices on their raw materials, they urgently needed a procurement expert with experience in this specific section of the food and beverage raw materials market that could dig into the numbers and create a tactical plan.
The client reached out to BluWave and within several hours, we interviewed the company to understand the details & nuances of their need. BluWave utilizes technology, data, and human ingenuity to pre-map assess, monitor, and maintain deep pools of best-in-class procurement consulting groups. Mapping the specifics of the company’s need to our network of third-party resources, we identified an exact-fit procurement consulting group for the client.
Company selects procurement consulting group, combatting supply chain issues
Quickly after the initial scoping call, we introduced the company to the exact-fit, pre-vetted service provider from our Intelligent Network that we had identified met their exacting criteria. The client confidently engaged the provider and they quickly helped the client get their procurement strategy on track while also cutting unnecessary costs in the supply chain.
PE firm urgently needs to assess effectiveness of sales team at healthcare portco
A middle-market PE firm Partner came to us with a prompt need to assess the existing sales team and go-to-market strategy at one of their portfolio companies that provides medical equipment and asset management services to the healthcare industry. The founder-owned portco was struggling with a high turnover rate and urgently needed to examine how to get the right sales team members in place. They were also in need of a new GTM strategy that they could execute once they had the right team in place. Having previously completed Voice of Customer (VoC) work, portco leadership was ready to take the next step.
BluWave identifies PE-grade consulting firms specific to the firm’s needs
Leveraging our founder’s 20 years in private equity, we have extensive frameworks for assessing PE-grade sales effectiveness and GTM strategy needs. BluWave utilizes technology, data, and human ingenuity to pre-map, assess, monitor, and maintain deep pools of sales and GTM strategists that uniquely meet the private equity standard. We interviewed the PE firm to understand their specific key criteria, and then connected the client with the select pre-vetted consulting firms from our invitation-only Business Builder’s Network that fit their exacting needs.
Firm engages with presented provider and moves forward to improve portco strategy
Within the same day of reaching out, the PE firm was introduced to a specialized sales effectiveness & training firm with additional experience developing GTM strategies for PE-backed companies. The client immediately engaged with this group and was able to start the project within 24 hours. The service provider we connected them with began by assessing the current sales processes and team members within the portco’s two verticals and then worked with them on developing an improved strategy.
It was refreshing to be back in person with hundreds of PE ops partners to learn from their first-hand perspectives. Key takeaways included:
Executing value creation means that human capital remains a top priority for PE firms.
Ensuring the right management team and board leadership are in place allows for efficient execution against the value creation plan. Resource scarcity has had an immense impact on firms’ abilities to implement and execute plans. Industry leaders discussed tips for how PE firms can source and retain the right people at our recent human capital forum.
Leveraging technology to increase efficiencies is non-negotiable.
The aforementioned human capital challenges have tremendously accelerated digital transformation plans. PE firms are laser-focused on leveraging technology to increase efficiencies and reduce manual tasks to align with value creation plans. This allows portcos to reallocate resources to higher impact areas and rely on technology to solve for the monotonous, repeatable workflow.
Building trust with portcos’ management teams early on is essential.
Trusted partnerships between PE firms and their portfolio companies are vital to a successful investment. Building executive buy-in earlier on in the diligence process with a people-centric approach puts PE firms in a win-win situation. When the (right) management team has ownership in the decision-making process, this creates invaluable efficiencies between the PE firm and portco leadership teams.
If you’re interested in learning more about any of these, contact us here. You can also check out some of these resources:
Portfolio-wide need for digital marketing consultant
A PE VP of Operations came to us with a critical need for a digital marketing consultant for their entire portfolio. Each company within the firm’s portfolio was experiencing similar problems around communicating digital marketing spend. They saw this as an opportunity to bring in a team that could conduct a portfolio-wide digital marketing assessment and consult the portcos on their current processes, if they were good or bad, where to spend their budget, & more. Given the importance of digital marketing in today’s world, they were looking for an team that was available to start that same month.
BluWave assessed need and presented exact-fit digital marketing consultant
Leveraging our founder’s 20 years in private equity, we have extensive frameworks for assessing PE-grade digital marketing needs. BluWave utilizes technology, data, and human ingenuity to pre-map, assess, monitor, and maintain deep pools of digital marketing consultancies that uniquely meet the private equity standard. We interviewed the PE firm to understand their specific key criteria and then connected the client with the select pre-vetted digital marketing consulting team from our invitation-only Intelligent Network that fit their exact needs.
PE firm confidently engaged provider to assess all companies in the portfolio
Quickly after the initial scoping call, the PE firm and portfolio company were introduced to a select few digital marketing consultancies that specialized in working with PE-backed companies to get their digital marketing up to snuff. The client selected their ideal choice. The PE firm was able to assess the digital marketing capabilities across the portfolio and provide them with the resources they needed to roadmap a plan for improvement.
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, Scott Bellinger, talks about how leading PE firms are utilizing third parties to manage procurement issues that have been brought on due to inflation and supply chain issues roaring out of control.
Learn more about the unique ways in which PE firms are utilizing third-party procurement groups by watching the video below.
Interested in connecting with a third-party procurement group or any other type of third party? Contact us here. You can also learn more about the specific ways we drive value for PE firms by connecting them to the exact-fit resources they need by reading our case studies.
Every quarter we gather Operating Executives in PE to discuss current industry topics and to offer peers the chance to gather, share information, and decompress with one another. In our most recent event, we gathered to discuss optimal operating team structure, how firms are tackling ESG, as well as GTM and growth strategies.
These forums are for PE Operating Executives only and follow Chatham House Rules, so listed below are high-level takeaways only. Are you in private equity and interested in joining fellow Operating Executives during our next Operating Partners’ Forum? RSVP for the August 23rd forum.
Optimal Ops Team Structure: Every ops team continues to look slightly different—varying between hiring full-time functional/industry experts and/or “athletes”/generalists. Generalists can be dropped into any portco situation, analyze it, and pull in the right third parties when needed. On the other hand, specialists can insource the work by adding niche expertise and credibility. When making the decision between a generalist and a specialist, consider the ramp-up cycle and strategic value. If the project has a high strategic value, many firms choose to use specialists and keep the work in-house. General rule: Have enough capability (in-house or outsourced) to own and execute the value creation plan.
ESG: Even without a mandate, ESG is coming up in more and more conversations and firms are leaning into creating a plan. These plans can look like a lot of different things, but a simple first step is to gauge where you are on various ESG factors at that given moment, and then start to measure (and report) progress. Pick your shots, and don’t feel compelled to tackle every aspect under the ESG umbrella. On the DEI front, some firms have developed a baseline to measure progress on diversity in recruiting, board composition, internal fund composition, and recruiter candidate presentation. Some firms, such as Sumeru, have developed a GP-level DEI strategy by recruiting candidates from underrepresented backgrounds and creating mentorship/fellowship programs.
GTM/Growth Strategy: Go to market strategy is one of the biggest value creation levers a PE firm can pull. In the “new now,” industries and supply chains are meaningfully changing their pricing structures. For many, pricing has become a top initiative at every portco in the portfolio. The top tips in this category were: 1) decrease portcos’ reliance on a single supply contributor in case that person leaves; 2) over-assign sales quotas, knowing you will likely have more attrition than historically; 3) lean more into digital channels to stay relevant.
We thoroughly enjoyed getting to gather with PE Operating Executives to discuss these current hot topics. If we can be of help sourcing needed specialists, developing your ESG strategy, or connecting you with pricing expertise, please contact us.
Interested in learning more about BluWave? Check out our Introduction to BluWave video to learn more about us and how we can help you.
A Partner at a LMM PE firm came to us with an immediate need for a board member for the manufacturing company they recently closed on. The PE firm bought the company from the founder and was in need of an experienced outside board member that could serve as a sounding board for the CEO, work on strategy to improve growth and help professionalize the organization.
The Challenge
Connect with Local Expert
They were in urgent need of an individual local to the area with experience in the industry, experience in transitioning a family-owned business to a professionally managed organization and the ability to commit to more than quarterly board meetings.
How BluWave Helped
Select Pre-Vetted Board Members Presented
Leveraging our founder’s 20 years in private equity, we have extensive frameworks for assessing PE-grade board member needs. BluWave utilizes technology, data and human ingenuity to pre-map, assess, monitor and maintain deep pools of board members that uniquely meet the private equity standard. We interviewed the PE firm to understand their specific key criteria and then identified a select few pre-vetted board members from our invitation-only Business Builders’ Network that fit their exact needs.
The Result
Accelerated Profitability, High-Valuation Sale
Quickly after the initial scoping call, the PE firm was introduced to the first identified exact-fit board member for their needs. After being presented with the select few options, the client selected their ideal choice. The PE firm was able to confidently engage the individual who provided the coaching and support the portco’s CEO needed, helping professionalize the organization and providing support for their strategy and growth needs.
We are uniquely equipped to move quickly for midmarket companies. We have a network of thousands of PE-grade individuals, specifically geared for midmarket companies, that we can tap into in order to connect a firm with the exact-fit board member they need.
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
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.
