Background
The company, founded six years earlier, had recently been acquired from the founding entrepreneurs and angel investors by a private equity firm intent on using this business as a platform for conducting a roll-up in this highly fragmented and competitive service industry. Already the largest and best regarded firm in the business, the company distinguished itself with spectacular market presence and flawless execution for the highest profile, most demanding engagements. It dominated the California market. We were charged with finding a CEO who could devise and execute the strategy for leveraging the company’s dominant regional position into a leading national brand through an aggressive acquisition program and strong organic growth.
The Challenge
Recruit a professional service-industry CEO who had successfully driven acquisitive growth while building an infrastructure comprised of smart business systems and meaningful financial and operating performance metrics, supported by expert process improvement methodology. The CEO’s immediate goal would be to streamline companywide operations to achieve greater market and business synergies while creating a business model that could be replicated across the country. Longer term, the CEO would have to push the boundaries of a mature market with new solutions, investigate new territory and customer relationships, and educate and coach the company’s internal workforce on building a lean enterprise. To hit aggressive targets, the CEO would also have to create and develop the organization necessary for delivering top- and bottom-line growth.
Results
Within three years the new CEO tripled the initial $45 million in revenue and led a very successful exit to a new PE sponsor. The CEO remained in place and drove profitable national expansion. He continued growth apace to more than $300 million and over a total of five years established a national footprint through organic growth and more than 20 acquisitions, winning multiple industry honors for quality and performance along the way. As the business grew, we also recruited the regional President responsible for the eastern half of the country and the corporate VP Sales & Marketing.
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