HOW BLACKFORD CAPITAL SECURED A CEO FOR THEIR PORTFOLIO COMPANY, MOPEC
September 25, 2023
At A Glance
The new CEO will be aiding the portfolio company’s EBITDA & Revenue growth based out of , Michigan, US.
REASON FOR THE SEARCH
They are currently looking for someone to fill the position of CEO as the last CEO has now retired after 5 years in the position.
THE PRIVATE EQUITY FIRM
Blackford Capital is a family and founder-owned firm that invests in lower to middle-market manufacturing, industrial, business services, and distribution companies. Blackford Capital was established in 2010 by Martin Stein and is headquartered in Michigan.
Blackford’s exceptional management team leverages experience, insight, and data to produce market-leading returns. Their primary investment strategy is to invest in family and founder-owned lower-middle-market businesses in the manufacturing, distribution, and consumer products sector. They seek out companies that have demonstrated strong performance while also being uniquely positioned to grow with access to additional capital and management support. Blackford is well known by investors and sellers for their successful track record of maximizing the value of their portfolio companies through proven operational excellence strategies. Their purpose is to create sustainable businesses that honor the legacy of the owner or founder and bring a financial return for investors. They currently have 6 portfolio companies and have completed over 34 acquisitions.
THE PORTFOLIO COMPANY
Mopec, founded in 1992, is a prominent provider of laboratory equipment and products manufactured in the United States. The company specializes in serving diverse industries such as pathology, histology, necropsy, autopsy, and mortuary. Over the years, Mopec has gained global recognition for its steadfast dedication to superior customer service, consultation expertise, and customization capabilities.
History and Growth: With more than three decades of experience in the industry, Mopec has consistently demonstrated its commitment to excellence. The company has achieved remarkable growth and success, with the last two years marking record-breaking revenue and profit figures. These achievements are a testament to Mopec’s position as a leader in its field.
Operations: Mopec operates from three strategically located plants, with one in Michigan and two in southern California. These facilities enable the company to efficiently serve its customers and maintain a strong manufacturing presence in key regions.
Ownership: In 2013, Mopec was acquired by the private equity firm, Blackford Capital. This partnership has provided the company with the support and resources necessary for continued growth and expansion.
Mopec’s success story is characterized by its dedication to quality, customer satisfaction, and innovation. With a strong presence in the laboratory equipment and products market, the company is poised for a promising future as it continues to meet the needs of diverse industries and deliver exceptional value to its customers.
THE SEARCH REQUIREMENTS:
- A background in Private Equity
- Manufacturing knowledge
- Previously had sold into the Health Care market
- Completed a successful exit
- Would relocate to Michigan
WHY RAW SELECTION
This role had been ongoing for three years and had previously been attempted to be filled by two executive search firms. Due to the prior work conducted, this search presented challenges, including tying up loose ends, repositioning the role for individuals who may have been contacted previously, and understanding how to approach it differently and successfully. The primary challenge for this search was to meet all the search requirements and find a candidate willing to relocate.
To overcome these obstacles, Raw Selection conducted an extensive market analysis and employed a data-driven search approach. We consistently reached out to a vast pool of potential candidates and provided numerous documents, briefs, and talent engagement packages to promote and sell the role to as many candidates as possible.
Raw Selection allocated significant resources to this search, including additional consultants, and worked tirelessly to achieve success.
THE PROCESS
This search was one of the most difficult searches Raw Selection had ever completed.
Raw Selection commences every search by discussing and understanding the full search requirements and brief. Raw Selection’s Senior Associate, Sean Butt, led the search and worked with Managing Partner, Alex Rawlings, who with the cooperation of Jeff Johnson, hiring manager at Blackford, 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.
Raw Selection followed our extensive 15-step search process. We were able to create an exceptional talent pool of 1800 people and identified 200 potential profiles which were fully evaluated and then cut down to a shortlist of 18, all of whom had been fully interviewed and measured for culture fit.
Raw Selection identified an exceptional individual, Francis Dirksmeier, who was subsequently hired for the role.
THOUGHTS ON THE SEARCH
Despite all of the challenges Raw Selection faced, this was an extremely successful search, and we could not have been more pleased than to deliver such a terrific candidate to Mopec and Blackford Capital, a Private Equity firm with whom we have a longstanding relationship that has consistently used our retained services.
THOUGHTS ON THE CANDIDATE
The candidate possesses a strong profile with a remarkable work background in manufacturing, boasting extensive knowledge in the field. Their notable experience includes successfully selling in the competitive healthcare market, showcasing their adaptability and industry acumen. Furthermore, their willingness to relocate to Michigan demonstrates their commitment to the role and their eagerness to contribute. Notably, they have completed a successful exit in their previous role, underlining their ability to drive results. Equally important, the candidate is a great culture fit, ensuring a seamless integration within the organization’s values and environment.
GET IN TOUCH
Raw Selection favors a meticulous approach to talent research. Our process for selecting the right talent means we can boast a 100% success rate for all our retained and engaged C-Suite 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
Get in Touch
Raw Selection favors a meticulous approach to talent research. Our process for selecting the right talent means we can boast a 100% success rate for all our retained and engaged C-Suite clients, with 96% of placed candidates still in their roles after 12 months.
If you are looking for new talent, contact us now.
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