Every so often we do some analytics within the firm just to level-set on where we are.  OK, in all honesty, we’re very metrics-driven so it’s probably more than “even so often,” and it’s also not a casual, anecdotal assemblage of loose stories and vignettes.

One of the topics we wanted to  give greater scrutiny was how much of our practice in the last 18 months or so was for portfolio companies of private equity firms.  And not only how much, but while we were at it, what geographies, and why not look at size of those private equity portfolio companies’ revenues, and the industries in which they clustered?

That set us off to “cypherin’” as they say.  Below are some of the results.  Given that our roots 15+ years ago were in earlier-stage, venture-backed companies, it’s an interesting diversification.  For some, this may be intuitive. For others, they may wonder about whether leadership talent for venture capital is completely different than those executives we recruit for our private equity clients.  The answer to that?  It is still apples to apples, and not apples to oranges.  Just a broader spectrum of apple varietals.   When thinking about venture capital portfolio leaders versus private equity portfolio leaders, at their core (couldn’t help the pun) they are still builder-leaders, which is the mantra for the type of talent we’ve specialized in a decade-and-a-half after founding the firm back in 1997.

While much has changed, this has remained a constant.

Stats below are based on some 40+ searches.

Enjoy.

***

Our sweet spot over the last few years has been in the growth equity segment of the private equity investing thesis.  That means more than half of all searches we’ve performed for private-equity backed clients have been for companies with revenues in the $25 million  to $250 million range.  The balance–about a third of private equity-backed company search work–was for companies with revenues about $250 million.   These were sprinkled evenly across the $250 million – $500 milllion, $500 million to $1 billion, and great-than-$1 billion slices.

When we looked at the executive levels we had executed on behalf of our private equity-backed clients, a third of searches were for CFOs, 40% were for CEOs and COOs, and the balance of our search work was at the VP level, across the functional spectrum (see next graph for more detail on the VP-level exploded pie analysis).

Search work for private equity-backed clients at the Vice President level distributed nicely over the organizational functional spectrum, including VP Sales, VP Manufacturing, VP Engineering, VP Marketing, VP Operations, VP Content (most in the education industry sector), and VP Human Resources.

Finally, we looked at what party of the country (or globe) these searches clustered within, and the above graph portrays the distribution.  Even we were surprised at this chart, as it shows an almost geographic-blind distribution–searches executed in all 7 regions in the U.S. (Northeast, MidAtlantic, Southeast, Midwest, Rocky Mountain, West & Northwest), along with an equal slice representing private equity-backed companies for whom we had done searches that were based in Europe (United Kingdom, France, and rest of West Europe).

A Leading Pioneer in reCommerce

Our client is a pioneer in what has been dubbed the re-commerce sector.  The Company fundamentally improves how people buy, use and dispose of their consumer electronics by providing a complete trade-in solution focused on value and convenience.

The Company addresses a global e-waste problem and simultaneously accelerates the extraction and monetization of a $185 billion secondary market in consumer electronics, video games and DVDs.   Over 2,200 retail locations in the United States are currently utilizing the the Company’s trade-in platform.  Gartner dubbed this industry the ITAD sector, or “Information technology Asset Disposition.”

THE POSITION

Detail of Responsibilities

The role gives an energetic and experienced business development professional in the mobile phone business an opportunity to join an industry leader in a relatively new, high growth and disruptive space and reports directly to the President & COO.

The ideal candidate will source national tier-one mobile industry players, including tier 1 wireless carriers, MVNO’s, VAR’s, OEMs and other potential partners for trade-in partnerships with the Company.  This is a strong hunter role and any account management responsibilities will be kept at a minimum using leveraged resources wherever possible.

The selected candidate will possess a combination of the following attributes:

• A minimum of 12 years’ experience in a business development role with tier one mobility companies, with retail-side experience a plus.
• A proven history of high level engagement at executive levels.
• A successful partnerships track record with both global 2000, industry-relevant companies, as well as fast-emerging smaller entities strategic to our client’s success.
• A comprehensive understanding of how the mobile phone industry works, including the points of differentiation among the top providers, as well as insights into each company’s strategies.
• Excellent presentation and communication skills.  The ability to create one’s own customized business development presentations on demand.
• Strong financial acuity and experience conceptualizing, presenting, and negotiating a win-win economics structure for both partner and Company.
• Solid “team playing” skills.  This role requires the contribution of many people in the organization to support the “selling effort” by the business development team.

For diagram of success attributes, team description, and compensation, clikc the “more” hyperlink below. 

More…

BOSTON, MA, April 10, 2013– BSG Team Ventures (BSG) announced today the appointment of Susan Hawkins as Vice President. Susan brings twenty years of experience working with boards, CEOs, and private equity leaders in identifying, assessing, and recruiting executives. She has deep experience and a proven track record of recruiting C-Level executives across a broad spectrum of industry sectors and company stages, with a specialty in private equity, Fortune 1000 technology, and venture-backed start-ups.

Prior to joining BSG Team Ventures, Susan spent six years as Director of Recruiting for Sun Capital Partners and their portfolio companies across North America and Europe. In that role, Susan led over 100 board level searches, with a focus on portfolio company CFO roles. These mandates encompassed a number of different industry verticals, notably, manufacturing and consumer. In her last year there, Susan successfully recruited both CFOs and CEOs across a broad range of Sun’s eighty portfolio companies.

A PricewaterhouseCoopers alum, Susan’s background also includes retained executive search experience and human resources roles in information technology and cleantech. Susan has a BA in Economics from Lakehead University in Thunder Bay, Ontario and a Masters of Science from Nova Southeastern’s School of Psychological Studies in Fort Lauderdale, FL.

A Canadian native from Montreal, Susan is bilingual in English and French. In her spare time, she enjoys biking, tennis, and exploring the outdoors with her husband, Uri from their home base in the Boston area.

BSG Team Ventures Managing Director, Clark Waterfall, expressed excitement over Susan’s joining the firm, emphasizing that “BSG, over the last several years, has developed a strong track record of search execution across private equity-backed portfolio companies in the education and technology sectors. Susan’s addition brings both a deeper functional expertise in CFO recruitment, as well as a broader industry specialization of including sectors important to private equity, such as manufacturing and consumer.”

“I’m excited to be joining BSG,” Susan adds.  “Their boutique orientation and depth of experience combine to create the best possible outcome for the customer, in terms of delivery and results.” 

Position Overview

Reporting to CEO Ron Packard, and working from the company’s headquarters in Herndon, Virginia, the Chief Academic Officer will assume responsibility for the academic integrity of K12’s virtual schools and online courses.  This will be accomplished through the assessment of student results using research, data analytics, and testing to ensure superior student learning outcomes. He or she will collaborate with school directors, their faculty, and senior leadership at K12 corporate headquarters to refine, articulate, and continuously improve K12’s educational model and materials to achieve targeted academic results, and will be the chief spokesperson for the company on all matters dealing with student performance.

About K12

With revenues of more than $500 million, K12 Inc. (LRN: NYSE) is the nation’s largest provider of proprietary curricula and online education programs for students in kindergarten through high school. Using 21st century tools to prepare 21st century students, K12 provides the broadest array of options for students to learn in a flexible and innovative way, at an individualized pace. K12 provides curricula and academic services to public and private schools and districts, traditional classrooms, blended school programs, and directly to families. K12 is accredited through AdvancED, the world’s largest education community.

K12 delivers its educational content and learning systems to students primarily through virtual public schools, virtual private schools, and through sales directly to school districts as part of our institutional sales business. The company offers its proprietary curriculum, learning kits, use of a personal computer, online learning platform and varying levels of academic and management services, which can range from targeted programs to complete turnkey solutions.

As of September 30, 2010, K12 served virtual public schools or hybrid schools in 27 states and the District of Columbia. The company expanded into two new states in fiscal year 2011, Massachusetts and Michigan. In addition, the company operates three online private schools (the K12 International Academy, The Keystone School, and the George Washington University Online High School), and also sells access to its online curriculum and learning kits directly to individual consumers.

In April 2010, K12 formed a joint venture with Middlebury College, known as Middlebury Interactive Languages LLC (MIL), to develop online foreign language courses. This new venture will create online language programs for pre-college students and will leverage Middlebury’s recognized experience and reputation in foreign language instruction and K12′s expertise in online education. In July 2010, the company acquired all of the stock of KC Distance Learning, Inc. (KCDL), a provider of online curriculum and public and private virtual education. The company also acquired certain assets from Cardean Learning Group LLC to form Capital Education LLC, a provider of online services to post-secondary institutions.

On December 1, 2010, K12 acquired American Education Corporation (AEC), a leading provider of research-based core curriculum instructional software for kindergarteners through adult learners. These acquisitions and the formation of MIL and Capital Education increase K12′s portfolio of innovative, high quality instructional and curriculum offerings. Finally, in January 2011 the company acquired a 20% minority interest in Web International Education Group, a provider of English language training for learners of all ages throughout China, including university students, government workers, and employees of international companies.

The Position

Reporting to the CEO, the Chief Academic Officer will manage the development of formative and summative curricular assessments and the review and evaluation of existing curricula and scope and sequence models at all grade levels and in all subject areas.

The Chief Academic Officer will continuously work on the design and refinement of K12’s curriculum according to achievement data, instructional best practices, state and federal compliance requirements, and research of national trends and successful online curricular design models. S/he will work collaboratively with the EVP of Product Development, the EVP of School Services, and other managers of curriculum development and instruction, and the curriculum and instruction staff, as well as coordinate with various cross-departmental teams, school leaders, and third party research consultants.

Specifically, the CAO will–

•  Oversee the development of curriculum based formative, benchmark, and summative assessments to monitor and verify student academic progress and outcomes.
•  Apply research and data to this assessment process in order to document student achievement.
•  Design and conduct research strategies and predictive studies that validate K12’s instructional model.
•  Select external vendors to analyze the performance of K12’s courses and schools.
•  Communicate research findings to a variety of constituencies, both internal and external, including state agencies, district partners, channel partners, investors, and the media; assume  the role of “chief external spokesperson” in matter of instructional validity.
•  Collaborate with the EVP of Product Development and her team in effective curricular development, backward design principles, a scope and sequence of essential skills and concepts that address state and national standards, online instructional strategies, student achievement, and systematic review and analysis.
•  Keep abreast of new instructional design models and evaluation tools, and choose from them those that offer the greatest benefit to K12’s  courses and programs.
•  Establish mechanisms for communication related to curriculum and educational standards to school staff, students, and families.
•  Serve as a consultant to school directors and other staff on matters pertaining to curriculum assessment and learning outcomes.
•  Develop opportunities for collaboration with educational leaders, industry, state agencies, community based organizations, and appropriate vendors.
•  Develop and oversee a comprehensive staff evaluation system that includes training and timelines.
•  Attend professional meetings, conferences, institutes etc. to keep current with trends and practices in online curriculum development and instructional methods.

click the more button below to see rest of blog post, including the job description

More…

BSG  Team Ventures is pleased to announce the successful completion of CEO search for Zipline Medical.

BSG recruited John Tighe, former CEO of PEAK Surgical, to join Zipline Founder & Chief Technology Officer Dr. Amir Belson.

Prior to being recruited to ZipLine Medical, Mr. Tighe was a Director and President and CEO of PEAK Surgical, joining the company as its first employee in June 2006. In July 2011, he negotiated the acquisition of PEAK Surgical by Medtronic. Mr. Tighe was responsible for establishing clinical development and sales of PEAK’s novel radio frequency technology in a variety of surgical specialties, including General Surgery, ENT, Orthopedics, and Plastic Surgery. Prior to joining PEAK, he served as Senior Vice President and General Manager at Arthrocare Corp., where he managed the company’s three business units, comprised of Sports Medicine, ENT, and Spine. During his time at the company, Arthrocare was one of the fastest-growing publicly traded medical device companies. Mr. Tighe is a member of the Community Advisory Board of El Camino Hospital of Los Gatos (CA), and earned a bachelor’s degree in Civil Engineering at the University of Maryland.

ZipLine Medical (www.ziplinemedical.com), headquartered in Campbell, Calif., is an emerging medical device company that has developed a platform technology — PRELOCTM (Pre-placement RE- aligning Low-tension Closure) — for noninvasive surgical skin closure via a simple, easy-to-learn and easy-to-use device. Because skin-closure is a common denominator of almost all surgeries, ZipLine’s PRELOC platform for the pre-placement, reapproximation and low-tension realignment of skin tissue has broad applicability across numerous medical specialties. There is an existing $4.2 billion worldwide market opportunity covering most surgical procedures involving skin incision. ZipLine’s initial target applications include: C-section, laparotomy, pacemaker/ICD implant, laparoscopic port, orthopedic, and excisional skin biopsy closure.

For more information see, Zipline press release at

http://www.ziplinemedical.com/press_release/zipline-medical-announces-appointment-of-john-r-tighe-as-ceo/

September 13, 2012 marked our 6th annual charity tennis tournament pitting venture capitalists against entrepreneurs on the grass courts in Chestnut Hill.

At stake? Another year’s bragging rights.  A combination of Ryder Cup meets Davis Cup meets… a half-day out of the office playing hooky for a great cause.

What made this year special?

The weather:  A perfect 75 degree, zero-humidity, crystal-blue fall day.

The turnout:  40+ tennis players making up 20 doubles teams, paired as investors or entrepreneurs.

Nic Bollettieri coaching VC and Entrepreneur team members

The tennis legend:  Silicon Valley Bank, one of the event’s charter underwriters since our first year, inspired the players and the greater Boston tennis community by bringing in Nick Bollettieri for half-hour coaching sessions with players, family, and enthusiasts. Throughout the day more than 30 aspiring junior and adult players participated in a series of clinics and learned from Nick’s coaching expertise while listening to Nick’s anecdotes of top ranked players. Nick Bollettieri is best known for the IMG Bollettieri Tennis Academy in Maitland, Florida.  The Academy has produced players like Pete Sampras, Jim Courier, Maria Sharapova, Andre Agassi, Venus & Serena Williams and other pro tour all-stars.

click the more button below to see rest of blog post

More…

BOSTON, MA, August 00, 2012– BSGTeam Ventures (BSG) today announced the appointment of Todd Hand (www.talentbench.net/company/principals/) as Managing Director of TalentBench (www.talentbench.net), a division of BSG. Todd has more than 15 years of search experience in the same innovation-driven industry sectors asBSG. “I’m excited to have Todd join us to run the TalentBench brand,” said Clark Waterfall,BSG Managing Director. “Todd has been an industry colleague and friend for more than 15 years. The synergies run deep.”

Before joining TalentBench, Todd was Vice President of Sales and Marketing at Altela, the leading company in water treatment for the oil and gas industry, where he was responsible for identifying new business sectors and driving revenue in the U.S. and international markets. Prior to Altela, Todd was COO at CleanSwitch Solar, a photovoltaic engineering and integration company. He also raised venture capital financing for Talent Capital Group, an executive search firm that recruited leaders to drive the success of innovative companies in the technology and renewable sectors. Previously Todd built management teams for both Idealab, a creator and operator of technology companies, and the Yankee Group, the global technology market research firm.

Todd serves on the board of directors of Coronado Ventures Forum, an organization focused on educating and connecting entrepreneurs with private equity financing. He is a graduate of Pennsylvania State University and attended the Babson MBA program. “TalentBench expands our recruiting services,” said Todd, “and helps emerging technology companies who want the quality of an executive-level retained search for their key individual contributor through to their Vice President-level roles.”

Conservation Services Group (www.csgrp.com) is the oldest and largest energy efficiency services company in the US, focused on the residential home market. The company engages in the design, development, and delivery of energy efficiency and renewable energy programs. It offers various services, such as appliance recycling, commercial building performance, renewable energy, clean energy market development and generator representation, solar electric power design/installation and service, and other residential energy efficiency services.

Based in Westboro, Massachusetts, CSG was founded in 1984 by current CEO Stephen Cowell and 4 others to change the way utilities perceived of and operated their power generation facilties on behalf of rate payers across the country.

Today, CSG is in 22 states with 6 regional divisions, and has grown from the original five founders to more than 800 employees and $100M in revenues.  Given the initial pioneering economics of CSG’s value proposition, it was founded as a not-for-profit, and remains one today.  However, the entrepreneurial spirit runs deep, and CSG has benefited from this, growing particularly rapidly in the last 5 years.

With clients across the country like NStar, National Grid, Con Edison, Alliant Energy, Nicor Gas, San Diego Gas & Electric, and NYSEG/RG&E, Conservation Services Group has firmly established itself as the market leader in residential efficiency services.

Reporting directly to CSG President Tina Bennett, the Executive Vice President of Software & Technology will play a senior leadership role as part of the senior executive committee, overseeing all software development and technology infrastructure across the enterprise, holding leadership responsibility for a team of 70+ technologists building and maintaining internal and external software, data, and systems that interconnect CSG, their residential field auditing teams, the utilities and their rate-paying residential customers.

More…

As executive recruiters, we often get asked about executive compensation.

So often—after we finish up a search—we aggregate the compensation data we’ve collected across the search, and share it back with the innovation community. In this case, we recently finished a VP Engineering search for an early-stage Internet client located here in the Northeast in May, 2012.  Note that there was a specialization required in this search requiring the VP Engineering to have prior experience with Ruby on Rails development environment.

Here is the snapshot of compensation highlights from our search—

The footnote at the bottom of the image above articulates the following criteria for the majority of companies in this data set:

• Internet content/e-commerce providers

• Primarily B2C (business-to-consumer) focused

• This compensation data was specifically from those who had at minimum software development team responsibility that included all architecture, development, user interface & QA

• Although a number of these companies had venture capital/external funding, several were bootstrapped but still with engineering teams of more than 10.

• Companies were located in in the Northeast, with highest concentration in Massachusetts & New Hampshire (New England)

There are many variables to consider that influence where to pinpoint one’s own compensation vis-a-vis the above:

• The more urban locations, the more likely compensation will be higher

• The later the stage of company development, the lower the incentive compensation, the earlier the higher. Yes, this is counter-intuitive, but usually the larger the company, the more mature and capped the incentive compensation plans become

• Equity is represented here as a percentage of total outstandng stock options or share grants a company has issued or available. The more mature/de-risked a company, and the more recently an executive has joined, the lower the typical options grant.

Measuring & Delivering Energy Savings

Our client  is a leading energy software company founded in 2007. Based in Boston, MA and privately held, The Company has developed patent-pending technology that enables them to retrieve utility data on behalf of virtually any household in America. Utilizing that technology, the company is the richest residential energy efficiency platform available today, and serves both customers and a variety of institutions that care about energy efficiency with its platform and the technology that underlies it. Its platform helps people to understand their energy use and be incentivized to save, as well as enables individuals to interact with and track their electric, gas, and water usage online.

The Position

The CTO/VP Engineering’s role is to oversee day to day activities of the software product development team for all of Company offerings. The role will build out and directly supervise a team of architects, software developers, quality assurance, and business analysts; identify risk and opportunity areas; and coordinate all software development activities.

This role will also work closely with Product Strategy and manage the Lead Technical Architect to envision and define features in the product roadmap and be accountable for the features development, deployment and support.  In addition to the technical leadership of the team, this role will have full management responsibility and oversight for a cross-functional group of engineering and quality assurance personnel.

Reporting directly to the CEO, the VP Engineering shall:

The successful candidate must also have the ability and experience to lead a multi-disciplined organization in a multi-location environment.

Qualifications

Essential Job Functions/Responsibilities

Ideal Candidate Profile

The diagram below illustrates the intersection of competencies critical in the position: