Controller
Summary:
The Rottman Group has been retained to confidentially find a Corporate Controller for a mid-sized provider management company with a top-notch PE partner. This is a great opportunity for someone to step into a solid organization doing well financially and continuing to grow methodically. Compared to many other provider platforms, this has all the right ingredients for success.
Private Equity Partner:
The right PE partner. Perhaps in times past, or other industry segments this didn’t need to be as much of a focal point as it does in the provider management space. As the provider management sector has boomed again in the last several years, a lot of PE groups have jumped in with both feet. What many haven’t understood is that regardless of any other industry experience, even healthcare specific experience they may have, if they’ve never bought/managed providers (physicians, dentists, veterinarians), it’s very different. That’s an understatement. I’ve seen a lot of mistakes made which has led to a lot of good people getting what I’ve coined “PE-PTSD”. This opportunity isn’t one of those. I’m happy to elaborate on this.
The PE sponsor has been focused on healthcare services for a long time and have had multiple successful investments in provider management platforms. With that experienced oversight, the company has had disciplined growth, both in scale and geography. They also recognize the value of front-end infrastructure development vs. playing catch-up or build-as-we-go. These are all mistakes I’ve repetitively seen others make. While the PE sponsor is very supportive, they are not an “all-up-in-your-weeds” or pressure partner.
The PE sponsor is solid and committed to the ongoing growth and development of the organization.
Company:
Based in California, the company is in the $65-100M range in revenue with a healthy EBITA. They have 25+ practices. The have been geographically disciplined in their growth which they have done both by acquisition and de novo. Like many during COVID, they had a recovery period and have been experiencing record months of profitability.
This is not a hyper-growth platform. I’ve seen many of those rise on the surface and fall because they lack the substance to support it. Instead, the organization has the infrastructure in place to support growth and is on plan to continue a 10-15% EBIDTA growth for the next several years.
They have been geographically disciplined in their development and have a meaningful market share in their region. They will be continuing to strategically expand geographically.
They’ve got good leadership. The CEO has been here for 2+ years. He is a sharp, a team builder, and someone who is a hands-on problem solver, leading a positive, energetic, collaborative, and engaged culture. I am happy to share more of the company’s history.
Good CEOs puts together teams of like-minded A-players. There are people who may be a good for one organization but not another.
There are people who just make sure nothing goes wrong; are complacent. There are others who have a natural curiosity of the inner workings, to have mastery of what they are doing and strive to continually find ways to make it better, to optimize. That would be the dynamic of most of the leadership team, but what has been missing from the current CFO. It is not the accuracy of the accounting, but the depth of analytical ability, innate curiosity, analytical problem solving, a sense of continuous improvement, being proactive vs. reactive, having initiative, being able to hire, lead, and develop good people.
The Role:
As Controller, this person is responsible for the accounting functions of the organization. There is currently a staff of 7+ people who will report to this person.
Aside from a solid foundational working knowledge of accounting and finance, what we are looking for is the personality and intangibles to be a congruent fit with the rest of the organization.
What we are looking for: someone who can be a roll-up-the-sleeves, energetic, enthusiastic, a proactive problem solver. Someone collaborative who will bring an intellectual curiosity to the team. Someone who can be collected under pressure vs. panic. That’s going to be the type of person that will fit with the team. Someone who can see the big picture, but also get into details when needed.
Compensation:
There will be a competitive base, bonus, for the right person along with full benefits.
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Contact:
Feel free to openly share this information. If this is something you are open to exploring, please contact:
Don Rottman
President
The Rottman Group, Inc.
501-519-2514 cell