Service Area: Interim Executives – Carve-out
Client Type: Lower-Middle Market PE Fund
Service Provider Type: Interim Chief Human Resources Officer (CHRO)
Industry: Consumer Products
A lower-middle market PE fund was on the brink of closing a significant deal involving the carve-out of a global consumer products business. This would involve separating various entities from a large, global corporation. The challenge was compounded by the need to rely on a Transition Services Agreement (TSA) for critical support in the immediate aftermath of the deal.
The carve-out encompassed 11 entities distributed across several countries. With each entity presenting unique operational and regulatory challenges, the client required an experienced interim chief human resources officer (CHRO) with global expertise. The interim CHRO would not only have to manage the carve-out but also work within the framework of a TSA for an extended period. The client aimed to ensure business continuity, adhere to regulatory compliance and efficiently transition into operating independently from the TSA.
BluWave sourced from its invite-only network an experienced interim CHRO who had a history of successfully executing complex carve-outs and global entity setups. The candidate possessed a deep understanding of setting up new practices, processes and HR functions from scratch. With a strong track record in change management and communication during transitions, the interim CHRO was well-equipped to manage the TSA and oversee the carve-out’s myriad challenges.
Under the guidance of the interim CHRO, the client’s carve-out was executed smoothly and within the expected timeframe. The interim CHRO’s expertise in payroll setup, change management and compliance ensured that all 11 entities were operational and aligned with regulations from day one. The outcome was attributed to the interim CHRO’s ability to effectively communicate with employees and manage expectations during a significant change.