CEO-CFO Synergy Elevates Blue-Collar Business to Optimal Exit
Together, the roles came together to script a successful exit narrative, drawing commendations from the PE company and stakeholders alike, and reflecting L.Maxwell's pivotal role in shaping their trajectory at a strategic inflection point.
Client
Private Equity firm focused on blue-collar sector, looked to evolve a rapidly growing business in their portfolio.
Executive
CEO embodying the blue-collar essence, boasting hands-on experience and an intrinsic understanding of the nuances of the sector.
CFO with a track record of successful transitions and staffing sector experience.
Situation
L.Maxwell was approached for our record of success in recruiting pivotal C-suite positions in specialized industries. Our work focused on supporting the overarching Private Equity strategy to boost their subsidiary’s value through judicious acquisitions and accelerate a successful exit. The subsidiary’s niche focus on blue-collar staffing meant the challenge was two-pronged:
Identify a CEO whose leadership resonates authentically with the blue-collar ethos.
Acquire a CFO with the finesse to navigate the complexities of an exit transaction.
Recognizing that the industry values hands-on experience over polished corporate personas, L.Maxwell successfully identified a CEO who was not only highly qualified but also deeply relatable. Our work culminated in onboarding a CEO who seamlessly integrated into the company culture of ethics and respect, boosting morale, driving operational efficiency and positioning the business for a successful exit.
Next, L.Maxwell shifted to addressing critical gaps in finance capabilities, by sourcing and onboarding a CFO with the experience and clout to execute on the exit plan, given a 2-3 year timeline.
Outcome
CEO spearheaded critical growth initiatives, resonating with every stratum of the workforce and growing from $180M to $400M+ through organic and acquisitive growth.
CFO applied his acumen to streamlining operational processes, achieving a highly advantageous 2020 exit.
Together, the roles came together to script a successful exit narrative, drawing commendations from the PE company and stakeholders alike, and reflecting L.Maxwell's pivotal role in shaping their trajectory at a strategic inflection point.
CEO-led Pivot Amplifies Growth in Target Capability
Within six months, the CEO drove the sale of an underperforming business segment, enabling focus and accelerating growth in the target capability and the associated practice.
Client
Private-equity-backed consulting firm sought to execute a precarious and highly strategic pivot by adding critical new capabilities and a new practice to its growth portfolio.
Executive
CEO with 10+ years experience, a portfolio of carefully cultivated senior client relationships, large-scale operations, IT/ERP strategy, and leadership across sectors, including consulting, finance, and administration.
Situation
Following a private equity transaction, the firm’s founding CEO envisioned transitioning to a Chairman role, necessitating the search for a transformational CEO to amplify the business.
Prior to engaging L.Maxwell, search horizons encompassed candidates with broad advisory consulting backgrounds. Recognizing the niche appeal and potential of the target capability, L.Maxwell refined the search focus, navigating thorny challenges including a constrained talent pool and complex non-compete clauses from leading firms.
Our approach was multi-faceted:
Stakeholder Engagement: By leveraging multiple channels, L.Maxwell ensured stakeholder engagement and an optimal partnership timeline.
Precision of Communication: Given the close-knit nature of the consulting community for the target capability, carefully-timed communications were paramount to protect the integrity of the search and the client’s recruitment message.
Expert Navigation: The confined talent pool, coupled with complex non-compete clauses and the unexpected global challenge of COVID-19, required exceptional strategic foresight.
Despite these constraints, our efforts identified a candidate who had been instrumental in aiding the expansion of their current firm, but was limited in growth opportunities in their current role. L.Maxwell presented a clear and compelling vision of future opportunity that helped secure the candidate, executing the onboarding and transition with due care and sensitivity.
Outcome
L.Maxwell facilitated a strategic CEO appointment driving significant growth for our client.
Within six months, the CEO drove the sale of an underperforming business segment, enabling focus and accelerating growth in the target capability and the associated practice.
This strategic move has repositioned the company as one of the top partners for the target capability and enabled them to capture a critical market segment.
Strategic CEO Placement Fuels Distinctive Identity and Growth in Locum Tenens
Under the CEO’s leadership, the locum subsidiary has undergone a transformative rebranding expanding their footprint in the market, and establishing itself independently from its nurse staffing counterpart while integrating industry best practices.
Client
Leading Private Equity-backed healthcare staffing conglomerate with a significant market presence in nurse staffing and venturing into locum tenens, seeks a transformative leader to redefine their course
Executive
CEO with strong background in locum industry, adept at leading transformative growth phases
Situation
L.Maxwell was engaged to assist with the complex task of acquiring a CEO with the capabilities to steer a Private Equity firm's newly-acquired locum tenens subsidiary to prominence.
Despite their dominance in the nurse staffing market with a valuation of $800 million, their new $50-million locum venture faced integration hurdles. The niche nature of the locum industry, its restrictive non-compete landscapes, and the challenge of merging distinct industry cultures added layers of complexity to the recruitment. The decision to grant the locum business its own operational sphere demanded a CEO who could navigate this transition seamlessly.
Through strategic narrative control and persistent engagement, L.Maxwell introduced our client to a CEO candidate originating from one of the U.S.'s largest locum firms. To ensure stability and smooth leadership transition during a crucial rebranding phase, we also facilitated the critical communication and visioning necessary to successfully onboard the CEO.
Outcome
Under the CEO’s leadership, the locum subsidiary has undergone a transformative rebranding expanding their footprint in the market, and establishing itself independently from its nurse staffing counterpart while integrating industry best practices.
This appointment and its impact underscores L.Maxwell's reputation for finding the clear choice executive, even in the most confidential and sensitive situations, ensuring successful transitions through critical inflection points.