CFO appointment for lower middle market services platform

At a glance

The challenge

A US private equity firm required a CFO appointment ahead of close for a lower middle market services platform, following an unsuccessful search process with multiple providers and a tight deal timeline.

The solution

Nova delivered a flexible executive search process, engaging PE-experienced CFOs able to step into the role at point of close and build the finance function from day one.

The impact

A CFO was appointed pre-close to establish core systems, processes, and a holding company structure to support future M&A activity.

Client objective

The client was acquiring a ~$10m EBITDA platform and required a CFO with prior private equity experience, capable of launching a new platform and operating effectively in a lower middle market environment.

The role demanded hands-on leadership, including building finance infrastructure, implementing systems and processes, and supporting an active M&A agenda. Speed was critical, with the client having already spent four weeks attempting to fill the role prior to engaging Nova.

Nova in action

Nova worked closely with the full investment team and CEO from the outset, running weekly update calls to track search progress, test candidate feedback and adjust the approach in real time ahead of close.

Drawing on our network of PE-backed CFOs with proven experience launching new platforms in the lower middle market, Nova ran a diligent search process, with 15 CFOs in process and three progressing to final stage within 60 days.

The successful candidate was appointed prior to deal close. While initially seeking multiple PE-backed exits, the client ultimately prioritised direct industry experience and operating capability, selecting a CFO aligned to the realities of the platform’s growth stage.

Nova supported the client through referencing and onboarding, working in tandem with the fund and CEO to ensure continuity through close and into the first phase of ownership.

CFO appointment for lower middle market services platform

At a glance

The challenge

The solution

The impact

Client objective

Nova in action

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