Case Study

Explore how we deliver exceptional financial leadership for lower middle market, private equity-backed firms.

Controller Search Lower Middle Market | PE-Backed Firm

A private equity-backed manufacturing firm with $20 million in annual revenue engaged us to identify its first financial leader. Following its first institutional capital raise, the company sought a Controller to establish a formal financial infrastructure, ensure compliance with PE reporting standards, and support scaling efforts.

We have successfully completed this type of search numerous times across various industries, including Manufacturing, Consumer, SaaS, Services, Healthcare and more.

Client Overview

The client, a PE-backed manufacturing firm, needed a Controller to lead its financial transformation, balancing tactical responsibilities with strategic growth initiatives in an entrepreneurial setting.

Financial Transformation

Leading financial transformation in a PE-backed manufacturing firm.

Strategic Growth

Balancing tactical execution with strategic initiatives in an entrepreneurial environment.

Strategic Planning

1

Defining the Role

Collaborated with the PE firm and CEO to outline responsibilities, focusing on financial infrastructure, reporting, and operational efficiency.

2

Targeted Candidate Sourcing

Identified professionals with experience in private equity-backed environments and expertise in lower middle market firms, emphasizing technical accounting skills and ERP implementation

3

Screening and Evaluation

Assessed technical skills such as GAAP, budgeting, forecasting, and reporting, along with the ability to operate independently

4

Cultural Alignment

Conducted behavioral interviews to ensure candidates could thrive in a fast-moving, entrepreneurial environment.

Key Challenges

First-Time Financial Leadership

No established finance function or processes, requiring a hands-on leader to build from the ground up.

Private Equity Expertise

Needed a candidate adept at meeting private equity standards for reporting and analysis.

Strategic and Tactical Role

Balancing operational accounting tasks with long-term financial planning and vision.

Cultural Fit

Integrating into a fast-paced, entrepreneurial environment while introducing structure and discipline.

Outcome

12+ Years of Private Equity Fund Excellence

Key Placement

Hired a CPA with over 12 years of experience in private equity fund finance, including a tenure as Senior Fund Controller for a $3 billion multi-fund platform.

Immediate Impact

  • Streamlined capital call and distribution processes, reducing cycle times by 20%.
  • Enhanced fund-level reporting accuracy with new accounting policies and procedures.
  • Prepared financial statements that met institutional LP standards and satisfied external auditors.

Long-Term Contributions

  • Led financial preparation for a $750 million fundraise, delivering detailed LP reports and managing due diligence requests.
  • Improved audit timelines by 25%, reducing costs and increasing efficiency.
  • Partnered with the CFO to implement an automated fund accounting system, supporting scalability goals.

Key Takeaways

This case illustrates how placing the right financial leader can transform a private equity-backed company by establishing essential processes, driving value, and aligning operations with investor expectations. A tailored search and strategic placement deliver long-term impact and scalability.