Case Studies
Background
Eque2 is a SaaS software vendor, which provides business management software to the construction, contracting and housebuilding industries.
LDC wanted to exit the business with a substantial ROI on their £16m investment.
In order to facilitate this, LDC was looking for an FD to: Build robust KPIs, forecasts and financial models etc that CEO/COO could work Support acquisitions Guide Eque2 through its second deal, leading on the full vendor financial and tax due diligence processes, allowing LDC to exit the business
Rowan Executive Search was retained by LDC and Eque2 to search, assess and appoint a suitable Finance Director.
Journey
Rowan worked closely with Eque2 CEO Justin Moule and LDC Investment Director John Clarke, in order to understand the requirement, and the business’ goals, ambitions and challenges.
As an expert in Executive Search, Rowan: Created a comprehensive, detailed and compelling brief, which would be attractive to relevant candidates. Undertook a best-in-class Search and Assessment process, focusing on Senior FDs with experience of facilitating a business’ second deal. Paid particular attention to the dynamic between the Eque2 Board and John Clarke et al. at LDC, showing sensitivity to the need for a candidate that would work with both Eque2 and LDC’s best interests at heart.
Impact
Andy’s tenure at Eque2 has been marked by transformative achievements, including the implementation of robust financial models, leading to a 29% increase in turnover and an 85% rise in EBITDA. He also played a pivotal role in the company’s acquisitive strategy, overseeing the acquisition of Clip IT Solutions, and contributed to the successful exit of LDC with a sale to Westbridge Capital for £46.5 million after a £16 million investment.
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