Need: Value Creation
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
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.
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.
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.”
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.
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.
Industry-Specific Growth Experts for PE Firm’s Portcos
Service Area: Growth & GTM
Client Type: Lower-Middle Market Private Equity Firm
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.
Paul Stansik, ParkerGale Capital | The Sales Metric Playbook: A Private Equity Guide to Measuring Sales Growth
Interim CFO with PE Experience for Tech Software Company
Service Area: Interim Executives
Client Type: Lower-Middle Market PE Firm
Service Provider Type: Interim CFO
Industry: Technology – Software
The Need
PE-Grade Interim CFO
A lower-middle-market PE firm sought to support its recent acquisition of a tech software company specializing in IT solutions and tools. With an impressive revenue of more than $10 million, the company lacked prior PE backing and a CFO.
An interim CFO was identified as the perfect solution to provide hands-on support in professionalizing finance functions and building a robust team. This person would also need to be well-versed in PE-backed environments and possess revenue software experience.
The Challenge
Professionalizing Finance Function in Complex Business
The tech software company, despite its strong revenue performance, needed to establish a solid financial infrastructure. With a first-time PE backing and debt on the books, the company faced complexities in handling low friction, high-velocity sales. The challenge was to find an Interim CFO capable of driving financial transformation, implementing strategic processes and aligning financial operations with PE expectations.
How BluWave Helped
Empowering Financial Professionalization
BluWave provided the PE firm with multiple industry-specific interim CFO candidates. The PE firm quickly identified and engaged with the best fit. Possessing deep experience in professionalizing finance functions for SaaS businesses after acquisitions, BluWave’s recommendation quickly addressed the company’s needs.
The Result
Driving Growth and Financial Excellence
Taking a hands-on approach, the interim CFO collaborated with the existing controller to streamline finance processes, implement best practices and optimize reporting structures. Additionally, the CFO provided strategic insights aligned with the company’s long-term objectives, enabling scalability and improved resource allocation.
The tech software portfolio company established a robust finance function tailored to PE-backed businesses. The organization achieved heightened financial visibility, improved data-driven decision-making and effective financial resource allocation.
Interim CFO To Customize BI&A for Commercial Roofing Company
Service Area: Interim Executives
Client Type: Lower-Middle Market PE Firm
Service Provider Type: Interim CFO
Industry: Construction & Engineering
The Need
Strengthening Financial Visibility
A lower-middle market PE firm needed an interim CFO at its portco to bolster the new commercial roofing platform’s financial visibility. The platform required a robust KPI dashboard and business intelligence tools to integrate seamlessly with its IT systems, facilitating efficient financial tracking and CRM integration. They previously consulted with a specialist in custom report-building, but sought a more comprehensive and holistic solution provider to meet their evolving needs.
The Challenge
Tailored Solutions for a Decentralized Structure
The portfolio company faced the challenge of creating tailored business intelligence tools and KPI dashboards for the commercial roofing platform. The platform operated with a decentralized structure, with branch managers responsible for their individual branches. To strengthen financial visibility at the home-office level, the solution needed to encompass a broad range of requirements and provide insights that catered to the platform’s unique industry dynamics.
How BluWave Helped
Connecting the Right Candidate for Custom Solutions
BluWave connected the lower-middle market PE firm with skilled interim candidates experienced in building custom reports and developing sophisticated business intelligence tools. The firm selected the best match for their portco, enabling them to design tailored solutions for their commercial roofing platform. BluWave facilitated seamless communication between the firm and the executive, ensuring all specifications were met with precision.
The Result
Empowering Growth with Comprehensive Business Intelligence
Under the interim executive’s leadership, the commercial roofing platform successfully built out KPI dashboards and business intelligence tools that seamlessly integrated with their IT systems. The comprehensive solutions provided unparalleled financial visibility, empowering the platform to make informed decisions and optimize their sales and marketing machine.
Furthermore, the interim CFO’s thoughtful approach and commitment to understanding the platform’s unique needs paved the way for efficient acquisitions, with future plans of expanding the platform’s portfolio within the roofing industry.
The interim executive you selected was great to work with.
-PE Firm Associate