LAYING THE FOUNDATION

A long-time private equity client tapped Townsend Search Group to find a chief financial officer (CFO) for their new portfolio company — a telecommunications provider in California.

The client planned to expand the platform substantially and sought a leader to modernize the company’s finance and accounting functions. The new CFO would create best-in-class processes to support the company as it acquired and integrated new businesses.

THE TOWNSEND SEARCH JOURNEY

While the company is located in a city, the surrounding area is predominantly rural. Consequently, it can be difficult to recruit high-caliber talent. The successful candidate would be operationally minded, have industry experience and be familiar with the growth through acquisitions model. They would also need to work with senior leaders to drive value creation while building systems of accountability within their team.

After several months of searching, it became apparent that the right individual was not within the local market.

Townsend advised the client to widen the search to cities accessible via direct flight. The client agreed. We were then able to quickly identify the ideal candidate in Texas. They had a strong telecommunications background and could immediately address some reporting and compliance issues the company had encountered.

DELIVERING TALENT. EMPOWERING CHANGE.

Having placed the new CFO, Townsend helped to develop the company’s finance team. Since we already understood its culture, history and strategic vision, we were well-positioned to execute swiftly.

We continued the policy of prioritizing talent over geography and soon secured a new corporate controller and financial analyst. Like the CFO, both now work from their respective home cities and fly to California once a month.

By leveraging a creative solution in a challenging hiring landscape, Townsend assembled a highly efficient team that immediately started generating significant growth for the company.