REASON FOR THE SEARCH

In January 2023, Avesi Partners completed the acquisition of Muir Wood, which had previously been owned by a family office. As part of their strategic plans to rapidly scale the business, Avesi sought to recruit an EVP of Finance with the aim of professionalizing the company.

Avesi Partners had previously been owned by a family office. As part of their strategic plans to rapidly scale the business, Avesi sought to recruit an EVP of Finance with the aim of professionalizing the company.

THE PRIVATE EQUITY FIRM

Avesi Partners offers businesses the knowledge and tools they need to confidently achieve their full potential. They work together with lower-middle market businesses to foster long-lasting bonds and promote growth. They can accelerate performance and position companies for long-term success by collaborating with proven teams and leveraging their collective expertise and resources.

They are led by a team of seasoned industry professionals with over 70 years of combined investing experience. They are headquartered in Stamford, Connecticut, and also have an office in Richmond, Virginia. The main sectors they invest in are Healthcare Services, Healthcare Technology, and Business Services.

THEIR INVESTMENT APPROACH

• They invest in well-established management teams of companies with $5-30Mn of EBITDA.
• They establish capital structures that align incentives and strategically position companies for efficient growth and optimized future value.
• They provide patient capital and financial acumen to unlock an enterprise’s full potential.
• They combine organic growth with M&A, back-office efficiency, and revenue diversification.

THE PORTFOLIO COMPANY

Muir Wood is an adolescent and family service focused on supporting and treating mental health and substance abuse issues in teens. Their program emphasizes kindness and compassion over confrontation and control. They provide the highest-quality care available and create a setting where teens and families feel valued and engaged.

Accredited by the Joint Commission and recognized as a gold standard in-network with leading insurers such as Kaiser Permanente, Anthem Blue Cross, Aetna, and Cigna, Muir Wood makes exceptional adolescent mental healthcare accessible.

They are focused on clinical quality and providing adolescents with the best possible treatments. Their mission gets every employee out of bed in the morning, and they have built a passionate and driven culture. The company has a small, family atmosphere that warmly welcomes every patient.

THE SEARCH REQUIREMENTS

• Residential, substance use, and mental health experience
• Experience with multi-state operations
• Revenue Cycle Management experience
• Commercial Payer experience
• Previous revenue responsibility of $25Mn to $150Mn
• 10+ years into their career
• Required: PE-backed experience
• M&A experience, including integrating the back office for acquisitions
• Experience with De Novo ventures

WHY RAW SELECTION

Avesi had initially committed to working on engaged terms with another search firm. However, when Cosmos, an Executive Search Consultant at Raw Selection, presented Jeff Stromberg as a potential EVP of Finance, they decided to cancel the retained search with the previous firm and use Raw Selection’s services instead.

Although this search initially presented a challenge as they were competing with another search firm, the process turned out to be smooth. Raw Selection successfully presented a single outstanding candidate within a week, who was subsequently moved forward in the selection process.

They made sure to present a compelling case by thoroughly understanding the company and the specific requirements of the search. With their meticulous search process, they aimed to provide the best candidate possible and secure their victory in the search.

THE PROCESS

To secure the candidate, Raw Selection followed their extensive 15-step process to ensure a great match was found for this vacancy.

Raw Selection commences every search by discussing and understanding the full search requirement and brief. Raw Selection’s Executive Search Consultant, Cosmos Lemos, led the search and, with the cooperation of Tyler Thompson, Hiring Manager of Avesi Partners, built out a full picture of the company, the employees, the culture, and exactly the type of profile that was needed to succeed in this position.

After conducting over 131 SCREENING CALLS AND INTERVIEWS, Raw Selection identified an exceptional individual, Jeff Stromberg, who was subsequently hired for the role.

Raw Selection followed their extensive 15-step search process, IDENTIFYING 23 POTENTIAL PROFILES, which were fully evaluated and then cut down to a SHORTLIST OF 7, all of whom had been fully interviewed and measured for culture fit.

Overall, Raw Selection completed a very successful SEARCH WITHIN 21 DAYS.

Muir Wood now has an EVP of Finance to drive the business forward and bring it to new heights.

THOUGHTS ON THE CANDIDATE

Jeff R. Stromberg is a strategic financial leader with a proven track record of transforming vision into actionable tactics for efficiency, growth, and high ROI. As a decisive and talented financial fixer, Jeff excels in integrating people, processes, and resources to drive positive organizational change. His ability to tackle complex business challenges while managing stakeholder needs sets him apart.

With extensive experience in P&L and budget management, multi-entity financial management, team building, leadership, and continuous improvement, Jeff brings a comprehensive skill set to the table.

In his role as VP and Corporate Controller at Discovery Behavioral Health, Inc., Jeff demonstrated exceptional leadership by implementing optimized tools and processes, resulting in significant cost savings and streamlined operations. He successfully integrated multiple acquisitions, implemented an upgraded ERP system, and revamped reporting packages.

Lastly, regarding Jeff as an individual, I have had the privilege of collaborating closely with him for the past year to identify an opportunity that aligns with his abilities and meets his personal, familial, and professional aspirations. I can confidently state that working with Jeff has been a delightful experience, and I have cherished every moment of this collaborative endeavor.

GET IN TOUCH

Raw Selection favors a meticulous approach to talent research. Their process for selecting the right talent means they can boast a 100% success rate for all their retained and engaged clients, with 96% OF PLACED CANDIDATES STILL IN THEIR ROLES AFTER 12 MONTHS.

If you are looking for new talent, please get in contact with Alex today at alex.rawlings@raw-selection.com