CFOs at private equity–backed companies love the challenge, and the payoff. Interviews with New Breed CFO Rick Wimmer, Culligan CFO Maria Henry, Eemax CFO David Brault, and Opal Ferraro, CFO of PSA Healthcare.
David McCann, CFO Magazine
July 15, 2011
Thanks for your all of your perspectives. Rick, at least on a personal level, is especially inspiring, because he flat-out shatters the commonly-held perception that workers older than 50 are only looking to find a job they can use to coast to retirement. Inaccurate, but conventional wisdom nonetheless. I worked as a CFO/Business Development Officer for a company that I grew from essentially zero to $60 million in a relatively short period. We did dozens of presentations to PE firms through our Investment Bankers. We received several LOI's at hugely attractive multiples. Unfortunately, that was 2007. Credit disappeared and so did the LOI's. I left shortly thereafter, but the company was eventually sold 1 1/2 years later. I regret having missed the opportunity to make that transition with the new owners. I personally subscribe to the notion that, in general, alternative forms of ownership, such as PE ownership, are more efficient and create more value that do many publicly held companies. This is the result of the inherently divergent interests between owners and management in publicly held companies, most of which are eliminated in alternative forms of organization.
Posted by Jeff Moskovitz | July 21, 2011 08:16 am© CFO Publishing Corporation 2009. All rights reserved.