Situation
J-Pac Medical is a medical device contract manufacturer. Torque Capital, the New York based private equity firm that owns J-Pac Medical, engaged us to find a new CEO to improve performance at the company and drive revenue and profit growth.
Process
To prepare for this project, we met with Torque Capital at their offices in New York to gain a better understanding of the business and the challenges facing an incoming CEO, and to define the appropriate candidate profile. This early preparation enabled us to present the opportunity to candidates in a compelling way, and to assess them in relation to the company’s business needs and cultural requirements.
Travis & Company conducted a national search focused on candidates with general management experience and deep understanding of medical device manufacturing. We presented a slate of six finalists that gave the client a range of excellent choices.
Outcome
The owners selected a candidate who had been CEO of several medical device companies, came up the ranks through manufacturing, and who had the high energy and hands-on work style they wanted. In addition, the winning candidate had experience working for private equity owners.
The new CEO rapidly turned around the business and returned it to growth and profitability. In addition, he built a strong management team that has delivered sustained high-performance over several years. The investors were delighted with the outcome.