LAYING THE FOUNDATION

When Townsend Search Group’s partnership with the client company began, it had a new private equity sponsor.

At that time, the organization had a unique product and a considerable market share in the automotive industry. However, the business was underperforming. Initially, the sponsor hired Townsend to manage the search for a new Chief Operating Officer (COO) and Chief Financial Officer (CFO).

THE TOWNSEND SEARCH JOURNEY

A culture of continuous operational improvement is crucial within the automotive space. The client company needed an executive team to oversee a plan to stabilize, standardize and optimize. Townsend quickly mobilized to place a CFO and COO, who was subsequently promoted to CEO — a role that individual still holds today.

Based on the results of this collaboration, Townsend led a search for a Manager of External Reporting later that year. All three hires excelled.

Following a successful turnaround, the owner sold the company to another sponsor. Through the sale, they achieved a multiple on invested capital (“MOIC”) of approximately 6x.

DELIVERING TALENT. EMPOWERING CHANGE.

With the client company stabilized, the new sponsor maintained a focus on optimization and growth. As the business matured, there was an ongoing need for high-performing operations and finance executives.

Townsend continued its work with the second owner, conducting seven additional searches over several years:

• Executive Director, Operations
• Plant Controller
• Managing Director, North America
• Chief Financial Officer
• Vice President of Purchasing
• Purchasing Manager
• Equipment and Tooling Buyer

Townsend’s relationship with the client company has spanned 10+ years and two sponsors. Thanks to our deep understanding of the organization and the automotive industry, each new hire has thrived, contributing significantly to the company’s progress.