Case study

CEO Private Equity Automotive & Industrials

USA
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THE CHALLENGE

Miramar was retained by a US-based private equity firm to appoint a CEO for one of their fastest-growing portfolio companies, delivering high-end components to the automotive and industrial sectors. The portfolio company operated with eight individual P&Ls, each with its own operating model and corporate culture. Acquired by Miramar’s private equity client in 2021, the portfolio company expanded through four additional acquisitions, boosting revenue from $180m to over $300m. This rapid growth not only introduced operational complexity but also necessitated a significant cultural shift. The company’s culture is unique, with long-serving employees who are deeply passionate about the business, but may not all be the right team for its future growth trajectory. The new CEO was therefore tasked with streamlining operations, including enhancing manufacturing efficiency, and transforming the business by developing new go-to-market strategies. This involved shifting from a predominantly aftermarket-focused model to a more direct-to-consumer approach through e-commerce, ensuring the company could better reach and engage its customer base while maximizing growth opportunities.

THE SOLUTION

  • The Miramar team focused the search on identifying experienced CEOs with multiple exits, experience in turnarounds in operational efficiency and a track record in hyper-growth environments.   
  • Utilising our network in the Private Equity, automotive, and the wider industrial sector, we were able to create a shortlist of CEOs who matched this criteria within three weeks.   
  • The process took a total of eight weeks from briefing to hire, with Miramar’s private equity client sharing very positive feedback on the search. 

THE RESULT

They hired an experienced CEO with a unique mixture of PE, Automotive, and industrial experience who has four successful exits and experience in transforming and growing businesses ranging from $20m to $1b+ in revenue.

The impact

Within eight weeks, the portfolio company secured a proven transformation leader capable of driving operational efficiency and sustainable growth. The appointment has accelerated strategic alignment across all business units and strengthened confidence among investors and the board.

  • Speed to hire: CEO appointed within 8 weeks from briefing to acceptance.
  • High-calibre outcome: Selected leader brings 4 successful exits and experience scaling businesses from $20m to $1B+.
  • Strategic transformation: New CEO is now unifying eight separate P&Ls under one cohesive operating model.
  • Growth acceleration: Early focus on manufacturing efficiency and digital go-to-market strategy is positioning the business for its next growth phase.
  • Client confidence: Private equity partner praised Miramar’s precision, pace, and market reach throughout the process.