The Organization’s Issue
An equity group and family acquired an at-risk organization that incurred a $2.2 million per monthly operating loss. The firm operated with outdated programs, policies, and procedures. The complacent culture lacked innovation and customer centricity. The seasoned leadership resisted change and expressed skepticism of the new ownership.
- Evaluated the leadership team abilities to manage through change.
- Engaged with employees to assess the adaptability of the leadership team.
- Fired managers unable to embrace the significant changes.
- Recruited high performing leaders with the expertise to turn around operations and fit into the new culture.
- Provided education, training, and coaching to the existing leaders to drive the success of the new organization.
Achieved 10% to 12% EBITDA margins after turning around company losing $2.2 million per month by recruiting strong performing directors and executives and supporting existing leadership with training and development.