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.
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.
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.
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.
Service Provider Type: Growth Strategy Consultants
Industry: Various
The Need
Structured Planning for Unleashing Potential
A forward-thinking lower-middle-market private equity firm aimed to empower its newly acquired portfolio companies through a comprehensive onboarding and strategic planning process. The objective was to shape a clear five-year plan encompassing customer segmentation, core value proposition development, investment allocation, sales and marketing strategies and an integrated budget.
The firm sought experienced consultants, ideally partners or associate partners, to lead the analysis, guide strategic planning sessions and establish a cohesive plan with actionable steps, ownership, deadlines and budget distribution.
The Challenge
Aligning Visions and Establishing Accountability
The private equity firm faced the challenge of harmonizing diverse visions and strategies across their portcos. The businesses possessed strong product insights but required support in fostering an accountable team culture. Additionally, the PE firm sought a leader who could implement an OKR framework to enhance alignment and execution across the organization.
How BluWave Helped
Industry-Specific Strategic Implementation
BluWave connected the firm with industry-specific consultants for its portcos. They quickly absorbed diligence materials and external market data, creating a comprehensive approach to guide the five-year planning process.
Starting with a 100-day plan scope, the firm developed of a three- to five-year strategic plan. This included defining core value propositions, strategic initiatives and aligning them with budget considerations and executive scorecards.
They also designed and implemented an OKR program for each organization. This framework facilitated alignment, empowering the CEOs to elevate operational efficiency and accountability.
The Result
Operational Efficiency Across Portcos
The portfolio companies established clear trajectories for growth. The result was a meticulously crafted five-year plan encompassing strategic initiatives, actionable steps and budget allocation, all aligned with the private equity firm’s overarching objectives.
Industry: Professional Services: Technology: Software
The Need
Charting the Course for Future Growth
A middle-market private equity firm engaged BluWave to assist one of their portfolio companies, a managed IT service provider specializing in financial services and life sciences sectors. The company sought a consulting partner to craft a robust three-year product vision roadmap. This roadmap would serve as a strategic guide, outlining the offerings, sales, delivery and performance measurement aspects of the company’s future direction.
The Challenge
Identifying Expansion Opportunities in a Niche Market
The managed IT service provider needed a comprehensive roadmap to inform its business strategy over the next three years. This required a deep understanding of the target customer profiles, their purchase journey and emerging market trends. BluWave’s challenge was to collaborate with a consulting partner that possessed a strong background in IT managed services, particularly in the financial services and life sciences sectors, which are heavily regulated.
How BluWave Helped
Experienced, Niche-Specific Resource
BluWave immediately reached out to the consulting firms it already knew that had a proven track record in developing product roadmaps for IT managed service providers. The selected consulting partner brought hands-on experience and a deep understanding of IT MSP products to the table.
The consulting partner’s team undertook a meticulous customer and market assessment, conducting interviews with existing and potential customers to understand their needs and preferences. Simultaneously, they performed a comprehensive competitive analysis to identify opportunities for expanding the company’s offerings.
The Result
Clear Path to Growth
Thanks to the consulting firm with which BluWave the company, the managed IT service provider successfully crafted a the-year product vision roadmap. It incorporated customer and market insights, defining the target customer profiles and outlining the path to delivering unmatched value.
The company’s leadership gained clarity on their future direction, aligning product offerings, sales, delivery and performance measurement. Armed with a well-structured roadmap, the managed IT service provider is better positioned to navigate the complexities of the financial services and life sciences sectors.
The collaborative effort between BluWave and the consulting partner culminated in a strategic plan tailored to the company’s unique position in the tech sector. As they continue to serve their niche markets, the managed IT service provider can confidently implement their growth strategy, expand their offerings, and unlock new opportunities for success.
Client Type: Lower-Middle Market Private Equity Firm for Portfolio Company
Service Provider Type: Financial Integration Consultant
Industry: Chemical Manufacturing
The Need
Financial Integration for Add-On Acquisitions
A chemical manufacturer operating in the specialty treatment chemicals industry sought assistance with financial integration for their add-on acquisitions. With a focus on bridging the gap in financial onboarding and consolidating reporting packages, the client needed a specialized team to provide hands-on support and help streamline their financial processes.
The Challenge
Improving Financial Systems and Reporting
The client faced challenges in their financial systems and reporting due to the use of QuickBooks and the need for scalable solutions. With add-on acquisitions and plans for growth, they required an evaluation of their current systems and the implementation of appropriate ERP and CRM systems, along with adequate security, governance and controls.
How BluWave Helped
Connecting for Accelerated Growth
BluWave connected the client with a specialized financial integration consultant that provided on-the-ground support in putting together reporting packages, consolidating financials and assisting with financial onboarding. This person was able to hit the ground running and better prepare the portco for its rollup strategy.
The Result
A Solid Foundation for Expansion
Through the assistance of the financial integration consultant, the chemical manufacturer successfully improved their systems and reporting capabilities. This set them up to move into their buy-and-build phase and begin making acquisitions. The financial consultant stayed on for some of the initial acquisitions, buying the company time to select a perfect-fit CFO.
We are grateful to be able to partner with the new team we acquired and look forward to helping them further accelerate growth.
CEO Search for Rapidly Growing Home Services Company
A home services company, focused on consolidation and rapid growth, was in need of a new CEO. Having completed nine acquisitions and added key executives to their leadership team, they sought a strong executive recruiting firm that could identify and place a CEO with the right industry experience and a track record of leading decentralized teams in rapidly expanding companies.
The Challenge
Connecting with a Middle Market-Focused Executive Search Firm
The client had previously used various executive search firms but had experienced inconsistent results. They were seeking an executive search firm geared toward the middle market, with a solid process for candidate identification, screening and reference checks. They required a partner who could effectively navigate the residential services and facility services industry and deliver consistent results.
How BluWave Helped
Specialized Executive Search for Residential Services
BluWave tapped into its Business Builders’ Network to connect the PE firm with a short list of exact-fit executive search firms. Leveraging their expertise and industry connections, the recruiting group selected by the firm identified and vetted relevant candidates with extensive experience in leading large, decentralized residential services teams. The firm’s rigorous process paid off as they not only found a great fit for the role, but also the portfolio company’s growth strategy and culture.
The Result
Successful CEO Placement, Continued Growth
A new Chief Executive Officer with more than 20 years of experience was appointed to lead the company. He had previously worked in route-based businesses, including successful merger and acquisition strategies, and was the ideal candidate to lead the company through its growth and consolidation plans. The former CEO transitioned to the role of Executive Chairman of the Board, providing ongoing support with acquisitions and strategy.
The client expressed their satisfaction with the search process and the selection of the new CEO. His leadership skills, extensive experience and alignment with the company’s culture and values were highlighted as key factors in his appointment.
We are thrilled by the growth that the company has experienced so far and look forward to seeing it reach another level under the new CEO’s leadership. We could not imagine finding a more perfect leader to take the team through the next phase of growth.
