Gerbsman Partners is pleased to announce the successful completion of a CEO/Crisis Management assignment for the stabilization of a Private Equity HR Technology Platform Company.
Due to management and potential operational issues, the Board of Directors made the strategic decision to retain Gerbsman Partners to assist in the stabilization of the company.
Gerbsman Partners – led by Steven R. Gerbsman, Principal and Kenneth Hardesty (CEO in Residence)– provided CEO/Crisis Management at the company and Ken Hardesty assumed the role of CEO, at the company in Boston, for a 60 day period. The challenge was that two previous CEO’s resigned from the company due to conflicts with the founder, who was still in an operational mode and there were communications and leadership issues with the employee’s and its main customers. The company was/is very profitable and represented a significant growth opportunity for the Private Equity group and investors.
Specifically, Gerbsman Partners provided leadership with:
1. “Hands on, CEO/Crisis Management at the company”.
2. “Stabilized the key employee’s and the Founder, who had resigned”.
3. “ Assisted the Private Equity group in interviewing and hiring a new CEO”.
4. “Identified and stabilized key issues with the company’s primary customer”
5. “Most importantly, met and exceed the business plan for the two month periord”
6. “and Assisted in a smooth transition with the new CEO”
About Gerbsman Partners
Gerbsman Partners focuses on maximizing enterprise value for stakeholders and shareholders in underperforming, undercapitalized and undervalued companies and their intellectual properties. Since 2001, Gerbsman Partners has successfully maximized the values of 122 companies in a wide and diverse spectrum of industries, ranging from technology, medical device/life science, digital marketing to cyber security, to name only a few.*
In the process, GP has successfully restructured/terminated over $810 million of real estate executory contracts and equipment lease/sub-debt obligations, and has assisted in over $2.3 billion of financings, restructurings and M&A transactions.*
Gerbsman Partners has offices and strategic alliances in San Francisco, Orange County, Boston, New York, Washington DC, McLean, VA, Europe and Israel.
*For further information on Gerbsman Partners expertise and industry experience, please request our company profile here
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