Team Build Outs

Entering new markets or rebuilding companies can require the hiring of complete management teams. While each individual must be very accomplished in their profession, all team members must be cohesive with personalities and motivations aligned.

Examples:

• $500m, Photovoltaic Developer, Wholesaler, and O&M Company
  Our client was the U.S. subsidiary of a leading international solar company with a dual focus on developing and financing commercial-scale photovoltaic power plants and serving as a wholesaler. Additionally, the company offers a full range of services related to the development and financing of distributed generation photovoltaic projects and comprehensive operations and maintenance services. The company had entered the U.S. previously but needed to quickly revamp the core management team. We worked with the major shareholders and recruited industry-experienced executives to run the wholesale and project development departments, as well as a highly experienced origination (sales) executive, a senior engineer, and the Head of EPC (Engineering, Procurement and Construction). In addition to hiring a complete team from a competitor the company also won 20 MW of signature ready pipeline which helped them it gain quick traction in a highly competitive PV industry.

• $1 Billion+ Solar and Construction Company
  The client, a large European-owned renewable power and construction company entered the American market. The focus initially was the hiring of solar-industry experienced senior sales and business development executives. After filling the top ranks we then were retained to recruit mid-level sales managers covering large sales regions (i.e. Southwest). In the last step of the sales team assembly, we helped the client to recruit area sales executives in charge of smaller territories (i.e. Los Angeles). At the beginning the company had a very limited technical staff in the US as most engineering and application support activities were covered out of the European headquarters as well as expat assignments. As sales firmed up and targets were met we supported the customer in recruiting application engineers, product managers as well a local procurement executives. The client is now one of the most high-profile U.S. market participants.
  Update: The company opened a sales subsidiary in Canada and also manufacturers there to comply with the conditions governing local content rules. We helped the company to recruit two solar experienced sales managers as well as a high-profile country manager.

• $1 Billion+ Solar Electric company
  Our client was the U.S. subsidiary of a privately held, European manufacturer of power electronics mostly used in the renewable power industry. The subsidiary had been 'neglected' due to strong growth in the home market and needed to be 'rebooted' to recover from very low sales. We helped the owners to recruit industry-experienced sales executives who had very valuable contacts and knew the sales process guiding large orders. In addition, the client hired very strong operations and administrative executives. The focus of these searches was on the functional knowledge (i.e. supply chain). As the renewable industry was in its infancy these placements came from other, yet related industries such as electronics contract and semiconductor manufacturing. This company holds now a U.S. market share in excess of 50% and enjoys very high P/E multiples following a successful public offering.
  Update: This client has established significant manufacturing capabilities in the Americas. Our team was retained to recruit the top level executives as well as the General Manager in charge of the new plant which will be the largest of its kind in the Americas and one of the largest worldwide.

• $400m, Private Equity-backed, Telecommunications Startup
  The client, a significant private equity company had identified a promising technology buried deeply within the engineering groups at one of the largest telecommunication equipment companies. The VC's approached the board and acquired the relevant patents and recruited the main engineers. In order to quickly scale the company (and increase the valuation) a whole team needed to be assembled. Within six months a complete team (CIO, VP Operations, VP Manufacturing, CFO, VP Engineering, VP Marketing) was recruited. Approximately two years after the acquisition the private equity company was able to exit the investment securing almost 30x of the initial investment. Update: the acquiring party was another large telecom equipment company. The assembled team stayed on after the acquisition and team members are holding now key position within the parent, including the CEO position.

• Middleware Software company
  We were retained by the founder and key investors to assemble the management team that would support a fast build-out of multiple market verticals for a highly-acclaimed middleware software developer. Three senior vice presidents to lead marketing and product management, sales and vertical market operations were recruited. In addition a high profile advisory group and board members as well as the U.S. sales management team were brought aboard. The candidates recruited were high-profile executives in their respective industries whose decision to join our client created significant visibility and early traction in a very competitive market segment.

• $5 Billion +Telecommunication Software and Professional Services Company
  We were originally retained to assist a newly acquired company in the telecom software and services area to re-tool its top leadership team following the change in ownership. The challenge involved replacing long-standing executives who had achieved a highly acclaimed status in the industry. Successfully recruited a very successful CEO and a high profile Group President to lead largest product unit and one to run Professional Services. Subsequently, we have recruited senior sales, alliance and partnership and IT functional leaders. Following the work with this subsidiary our team was also involved with the parent company as it laid the foundations for an IPO which was successful.