CEO & CFO - PORTFOLIO SEARCH - AEROSPACE & DEFENSE/MANUFACTURING - USA

November 29, 2023

The Appointed Executive

The new CEO and CFO will be aiding the portfolio company’s EBITDA & Revenue growth.

CEO & CFO

Dennis McKeen is a highly experienced Chief Financial Officer with a proven record of driving significant financial and operational improvements in private equity-backed manufacturing companies. At Metal Powder Products, Dennis successfully managed rapid growth, scaling the business from multiple acquisitions and organic initiatives, achieving a 1000% increase in company size over ten years. His strategic leadership streamlined operations, reduced administrative overhead by 50%, and significantly improved financial reporting and automation. Dennis excels in M&A transactions, union negotiations, risk management, and implementing technology solutions that enhance efficiency and profitability. His proactive financial stewardship consistently positions organizations for growth and long-term success.

Brian Marston is a strategic executive with extensive leadership experience driving growth and operational transformation in private equity-backed industrial and manufacturing businesses. As President & CEO of Uniloy, Brian successfully transitioned the company to an independent entity, establishing global operations, sales strategies, and achieving significant EBITDA growth through targeted acquisitions and operational improvements. At Gamut Capital Management, he plays a critical role as an Operating Partner, supporting portfolio companies in strategic initiatives, acquisitions, integrations, and long-term growth. Brian’s expertise includes executing large-scale restructurings, enhancing sales effectiveness, and introducing innovative products and lean manufacturing practices, consistently resulting in substantial profitability improvements and market leadership.

50%

Reduction in overhead costs achieved at prior role

30%

Increase in revenue in prior role

REASON FOR THE SEARCH

Middleground needed a CFO & CEO for a buy & build roll-up.

THE PRIVATE EQUITY FIRM

MiddleGround Capital

THE PORTFOLIO COMPANY

There is currently a roll-up of 4 advanced manufacturing companies with a combined revenue of $25 MN and each business has a president. They have predicted a $100Mn growth to $200Mn in 3 however, believe they have the potential to reach $300MN.

The first company is Megatech, located in Quebec City, Ontario Canada. They are the leader in the machining industry, distinguishing itself from its competitors by its exceptional quality and precision.

The second company is based in the San Francisco area. They do custom fabrication, machining, powder coating, and assembly. They process a lot of high-margin / highly engineered products for many industries including medical and defense.

The third and fourth company has not been disclosed.

THE SEARCH REQUIREMENTS

  • previous CEO and CFO experience
  • Advanced manufacturing background
  • Experience in Polyjet, Fused Deposition Modeling, Selective Laser Sintering, Multi-jet fusion, Stereolithography, Direct Metal, Laser Sinterin
  • Traditional manufacturing, CNC Machining, Precision Sheet Metal, Injection Molding experience
  • Buy & build experience
  • Understand particular group of processes
  • Integration experience
  • Run multiple site switch multi- complexity

WHY RAW SELECTION 

Raw Selection is proven in completing difficult searches and this search was no different. We currently have a strong working relationship with Middleground Capital and they came to us with the challenge of finding a CEO and a CFO.

Finding a CEO and CFO at the same time was tough as naturally, most candidates wanted to know who they would be working for before they got too deeply involved in the process however, we had only the first 2 companies of the roll-up available to disclose. This led to a lot of understandable hesitation, a longer search process, and a large search for the right candidates who were willing to be patient and open minded.

THE PROCESS

Raw Selections 15-step processes was used repeatedly by our Principal, Jack Burns, and our Senior Associate, Mo Vali. Mo’s efforts and commitment to this search have been commended across the entire team as he was the driving force to ensure the perfect match was found for the CEO and CFO position. 

We were able to create an exceptional talent pool of over 1000 people collectively for both searches and identified 64 potential profiles for the CEO role and 67 for the CFO role which were then both fully evaluated and cut down to a shortlist of 20 and 28. All of whom had been fully interviewed and measured for culture fit.

Raw Selection identified an exceptional individual for the CEO role, Brian Marston, and Denis Mckeen for the CFO role. Both were subsequently hired.

THOUGHTS ON THE SEARCH

“Brian & Dennis are both great at what they do, I am sure they will work very well together. I am looking forward to seeing them knock it out of the park for this platform.”

Jack Burns- Principal of Raw Selection

This search has been a great success. Although it is still early days, Middleground Capital and its portfolio company roll-up will be able to start building out the rest of its senior management team. Currently, we are working on a head of sales search for them.

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 Jack today, at jack.burns@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.

Get in Touch