Recruiting a Turnaround CEO for Sporting Goods Manufacturer

A lower-middle market private equity fund needed new leadership for their portfolio company as the existing CEO was about to step down. The organization, which makes athletic and sporting equipment, sought a visionary CEO deeply entrenched in the sector who also had supply-chain experience in founder-owned businesses.

The sporting goods company spanned two vital sectors: basketball goals and recreational center equipment, and working through dealers and installers who are remodeling or building schools. They faced a tumultuous path forward, though. Projects were priced years in advance, resulting in a backlog of low-margin products. Escalating steel prices due to global supply-chain issues exacerbated the difficulties.

BluWave tapped its invite-only network for a short-list a executive recruiting firms. Their mission was to locate a team who could place a new executive with extensive experience in catering to schools and recreational centers, coupled with the acumen to navigate the intricate supply chain.

Thanks to the selected firm’s search, an accomplished CEO with a stellar track record in the sporting goods sector emerged as the ideal fit. This visionary leader not only brought industry expertise but also the ability to deftly manage the complex supply chain and tackle pricing dilemmas head-on. The company was not only stabilized, but began to thrive again under its new leadership.