The Company
Industry: Maintenance + Repair Services
Entity Type: PE-Backed
Operating Region: Northeastern U.S.
Size: $180M
The PROBLEM
The company was actively making acquisitions. They needed an interim Vice President of Human Resources to collaborate with the management team to oversee all HR needs, including working with acquired businesses to convert them to the HR system at the corporate level. The organization required an interim executive to improve processes, build a platform for growth, and develop a roadmap for the HR department.
The Solution
McDermott + Bull Interim Leaders brought in an HR executive with over 20 years of experience as an HR leader, specializing in strategic planning, employee benefits, and customer relations. They had a deep background in HR and employee relations, with a proven ability to act as an innovative business partner, leading high-performing teams and scaling organizations. With experience in PE-backed companies, they were also well-equipped to guide acquisitions and mergers successfully.
The RESULT
The project initially involved converting to Paylocity for both the human resources information system and payroll functions, integrating it with the three initial brands. The interim leader joined the organization at a critical juncture and collaborated with their broker to assess health and medical ancillary benefits, identifying a cost-effective solution that maintained the same level of benefits as the company’s original offerings. The interim successfully implemented Paylocity within two months, followed by the immediate rollout of the benefits package.
401k Rollout in 60 Days
Within 48 hours, they devised a superior 401k solution, allowing the company to exit the original plan, and successfully rolled out the new plan within 60 days.
Onboarded 90 Employees in 48 Hours
Conducted due diligence for the fourth acquisition, closed the deal, and successfully onboarded 90 employees within 48 hours, while preparing for the fifth and sixth deals.
Roadmap for Future Acquisitions
The interim developed a roadmap for future acquisitions, creating checklists and processes that streamlined employee onboarding, which they got to 97% completion.
James Hickey
Senior Managing Director, McDermott + Bull Interim Leaders
hickey@mbexec.com
James Hickey serves as a Senior Managing Director for McDermott + Bull Interim Leaders, helping companies with mission-critical needs for talented executives during key points in their life cycle. He also works closely with Private Equity Groups to help their portfolio companies when there are gaps in leadership or to provide additional support to the team during critical transactions.