Case Study: Landing a PE Board Role or C-Level Position with a PE-Owned Company - this is your step-by-step action guide
Written By: Gerald O’Dwyer III
The PE Guru — Blackmore Partners, Inc | June 20, 2024
Securing a role with a private equity (PE)-owned company, such as a board position, advisory role, consulting, operating partner, or C-level position, requires strategic networking, targeted outreach, and the right tools to identify and connect with the ideal PE firms. This case study highlights the benefits of using advanced tools like CYNDX and PitchBook, comparing them to a DIY approach using Google and LinkedIn. It also showcases how BlackmoreConnects offers a comprehensive and cost-effective solution through its shared services model.
Visual Displays: Side-by-Side Comparison
Research and Identification
| Activity | DIY Approach (Google & LinkedIn) | Advanced Tools (PitchBook & CYNDX) | BlackmoreConnects |
|---|---|---|---|
| Identify Target PE Firms and Portfolio Companies | Google search, LinkedIn | PitchBook search, CYNDX search | BlackmoreConnects search and support |
| Time Estimate | 50 hours | 10 hours | 5 hours |
Outreach and Networking
| Activity | DIY Approach (Google & LinkedIn) | Advanced Tools (PitchBook & CYNDX) | BlackmoreConnects |
|---|---|---|---|
| Develop Contact List | LinkedIn, company websites | PitchBook, CYNDX | BlackmoreConnects research support |
| Time Estimate | 20 hours | 5 hours | 2 hours |
| Activity | DIY Approach (Google & LinkedIn) | Advanced Tools (PitchBook & CYNDX) | BlackmoreConnects |
|---|---|---|---|
| Craft Personalized Emails | Manual creation | Data-driven customization | Template and customization support |
| Time Estimate | 30 hours | 10 hours | 5 hours |
| Activity | DIY Approach (Google & LinkedIn) | Advanced Tools (PitchBook & CYNDX) | BlackmoreConnects |
|---|---|---|---|
| Follow-Up | Manual follow-up | Data-driven follow-up | Follow-up support |
| Time Estimate | 30 hours | 10 hours | 5 hours |
Analysis and Customization
| Activity | DIY Approach (Google & LinkedIn) | Advanced Tools (PitchBook & CYNDX) | BlackmoreConnects |
|---|---|---|---|
| Analyze Company Data | Public information | PitchBook, CYNDX data | BlackmoreConnects research support |
| Time Estimate | 40 hours | 10 hours | 5 hours |
| Activity | Customize Messaging | DIY Approach (Google & LinkedIn) | Advanced Tools (PitchBook & CYNDX) | BlackmoreConnects | |————–|————————————-|—————————————|———————-| | Time Estimate | 30 hours | 10 hours | 5 hours |
Total Time and Cost Comparison
| Approach | Total Time | Total Cost |
|---|---|---|
| DIY Approach (Google & LinkedIn) | 240+ hours | $30,000 (time cost) |
| Advanced Tools (PitchBook & CYNDX) | 55 hours | $43,000 (PitchBook + CYNDX) |
| BlackmoreConnects | 22 hours | $10,000 (includes software access and support) |
Sample Email Messages
Initial Outreach Email
Subject: Exploring Potential Collaboration Opportunities
Dear [Recipient Name],
I hope this message finds you well. My name is [Your Name], and I am a seasoned executive with a strong background in the lower middle market private equity sector. I recently came across [PE Firm Name] and am highly impressed with your portfolio and strategic approach.
Given my experience in [specific area], I believe there is a great alignment between my skill set and the needs of your portfolio companies. I am particularly interested in opportunities to contribute as a board member, advisor, or in a C-level capacity.
I would welcome the opportunity to discuss how my background and expertise could add value to your team. Please let me know a convenient time for a brief call.
Thank you for your time and consideration.
Best regards,
[Your Full Name]
[Your LinkedIn Profile]
[Your Phone Number]
[Your Email Address]
[Your Full Name]
[Your LinkedIn Profile]
[Your Phone Number]
[Your Email Address]
Follow-Up Email
Subject: Re: Exploring Potential Collaboration Opportunities
Dear [Recipient Name],
I hope this message finds you well. I am following up on my previous email regarding potential collaboration opportunities with [PE Firm Name]. I am very eager to discuss how my experience and background can align with your strategic objectives.
I am available for a call next week and would appreciate the chance to explore this further. Please let me know if there is a suitable time for you.
Looking forward to your response.
Best regards,
[Your Full Name]
[Your LinkedIn Profile]
[Your Phone Number]
[Your Email Address]
[Your Full Name]
[Your LinkedIn Profile]
[Your Phone Number]
[Your Email Address]
Benefits of CYNDX and PitchBook for Executives Connecting with Private Equity Firms
-
Extensive Data Coverage
- PitchBook: Detailed information on PE firms, board members, portfolio companies, purchase prices, debt, equity, and service providers.
- CYNDX: Advanced search capabilities, relationship mapping, and insights on potential connections.
-
Efficiency and Effectiveness
- Both tools significantly reduce the time needed to identify and connect with the right PE firms and individuals.
- Customizable and targeted messaging using detailed data and insights enhances the likelihood of successful connections.
-
Cost Comparison
- PitchBook: $28,000 per year.
- CYNDX: $15,000 per year.
- BlackmoreConnects: $10,000 for access to both tools, 6 conferences, research support, and marketing assistance.
Time and Cost Analysis Chart
Workflow Comparison: DIY vs. Advanced Tools vs. BlackmoreConnects
Time and Cost Comparison: DIY vs. Advanced Tools vs. BlackmoreConnects
Benefits Breakdown: BlackmoreConnects Shared Services Model
Tips for Executives Triangulating into a Portfolio Company
-
Research Thoroughly:
- Use PitchBook to gather comprehensive information about the PE firm’s portfolio companies, board members, and financial details.
- Understand the company’s market positioning, debt load, and overall health to tailor your approach.
-
Customize Your Messaging:
- Utilize the data from PitchBook to craft personalized and relevant emails to each target individual.
- Highlight specific insights and how your background aligns with the company’s needs.
-
Leverage BlackmoreConnects Support:
- Take advantage of the assigned research person and marketing team to streamline your outreach.
- Use the provided email templates to ensure consistency and effectiveness in your communication.
Conclusion
For executives aiming to secure a PE board role, advisory position, or C-level role, utilizing advanced tools like CYNDX and PitchBook can significantly enhance their chances of success. By leveraging these tools, along with the comprehensive support offered by BlackmoreConnects, executives can efficiently and effectively connect with the right PE firms and individuals, ultimately landing roles that are a perfect match for their background and expertise.
This case study demonstrates the importance of using the right resources and strategies to navigate the complex landscape of private equity and highlights the substantial benefits of a well-planned and data-driven approach.