HOW BAYMARK PARTNERS SECURED A CEO FOR ONE OF THEIR GLASS PORTFOLIO COMPANIES IN THE US

September 16, 2024

At A Glance

The new CEO will be joining the team based out of the US

THE PRIVATE EQUITY FIRM

Baymark Partners is a Dallas-based Private Equity firm that focuses on acquiring and growing middle-market companies in sectors such as healthcare, business services, IT, distribution, manufacturing, and tech-enabled businesses like SaaS and e-commerce. With over 100 years of combined experience and a strong advisory board, they help companies scale through operational improvements and strategic discipline. Their portfolio spans over 70 companies, and they specialize in providing liquidity and resources for accelerated growth.

THE PORTFOLIO COMPANY 

This company specializes in designing, fabricating, and installing custom glass products for residential and commercial spaces. They have over 30 years of experience and are known for their precision, creativity, and quality. Their projects include everything from glass shower enclosures to large commercial installations, serving sectors like hospitality, office spaces, and luxury homes. The company manages everything in-house, ensuring high-quality control across all stages, from estimation to installation​.

WHAT WERE THE PARTICULAR REQUIREMENTS OF THE SEARCH? 

The ideal CEO was to have a track record of leading successful exits in the same sector, demonstrating a deep understanding of industry trends and the complexities of transitions. They would effectively collaborate with financial intermediaries, managing sophisticated transactions while also engaging with staff at all levels on-site. Additionally, they were to have a history of generating organic growth, using internal strategies to drive business expansion.

WHAT CHALLENGES WAS THE CLIENT FACING? 

The business required a CEO with a proven background in developing effective exit strategies within the Building Products sector, while also being able to integrate seamlessly into the blue-collar culture of the company. The primary challenge driving the need for this role was the necessity to divest, restructure, strategically position, and ultimately exit the business successfully. The client struggled to find strong CEO’s, with relevant product experience & the functional experience of an exit. When we were able to show them 6 CEO’s meeting the criteria, they used our service.

WAS THERE ANYTHING THAT MADE THE SEARCH CHALLENGING? 

It was crucial to ensure that the CEO’s exit experience was directly relevant. Many CEOs may have been involved in an exit but not necessarily led one, often holding a different position during the process. Identifying the subtle differences in their capabilities was essential to accurately align their experience with the client’s specific needs.

HOW DID YOU OVERCOME THESE CHALLENGES? 

Through our interview process, we focused on asking the right and more challenging questions to thoroughly assess a candidate’s exit capabilities. This approach ensured that we gained a deep understanding of their experience and prevented the risk of placing someone in a role where they could become overwhelmed. It also helped safeguard the client from hiring a candidate who might have been better suited to a different type of business or situation.

HOW LONG DID IT TAKE TO GET THE FINAL SHORTLIST OVER?

It took 7 days to get a final shortlist over to the client. 

THOUGHTS ON THE CANDIDATE 

"Lance was a great choice for the CEO position for the portfolio company. Throughout the process, he meshed well with the current management team as well as the Private Equity firm. Lance has a fantastic track record in this space, having led multiple exits previously in similar businesses. Throughout the process, Lance was great to work with, consistent in terms of expectations, his level of communication & commitment to the process. I wish Lance the best of luck in this position."

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