Vice President, Operations
The Operating Team Vice President position is a senior level position at MiddleGround Capital (MGC) that is based out of the office in Amsterdam, Netherlands and requires extensive travel to the MGC portfolio companies. She/he must work collaboratively with the management team at the portfolio companies, as assigned, to maximize value. The VP acts on behalf of the Board of Directors to identify, implement and execute various portfolio company initiatives. The VP reports to the Director of Operations and/or the Head of Operations depending on the respective assignment(s).
MGC Portfolio Company Responsibilities
Due Diligence and Pre-Transaction
Attends Management Presentations with Investment Team. Conducts plant visits and plant visit summaries. Engages and coordinates with 3rd party diligence providers
Assess management team capabilities and coordinates Executive assessments with VP of Human Capital
Develops the pre- LOI (Letter of Intent) and post-LOI Value Creation Plans (VCP) and coordinate with MGC Sr. Management
VCP: Develops detailed plan to improve Working Capital, Capex, Other Cash Initiatives, Hourly headcount, SG&A, Salaried indirect, Operational costs, Supply chain costs, Distribution costs, Synergies, Etc.
Confirms the assumptions in the Investment Attends Investment Committee Meetings as a member of the Deal Team.
Portfolio Company Management
Proactively identifies improvement opportunities based on the completed analysis and recommends actions. Tracks financial status by monitoring variances from plan by comparing and analyzing plans and forecasts with actual Improves financial status by analyzing results and variances; identifying trends; and soliciting action.
Reconciles information by comparing and correcting data. Increases productivity by developing automated applications; eliminating duplications; coordinating information requirements. Provides information to management by assembling and summarizing data; preparing reports; making presentations of findings, analyses, and recommendations.
Engages, manages, and partners with internal resources and external, 3rd party resources, to maintain and update the Master VCP File. Collaborates with internal resources, 3rd party vendors, and portfolio company resources to complete analyses, including product profitability, vendor, and customer terms, working capital improvement, discrete operational projects,
After the close of the transaction, meets with CEO and CFO to review VCP. Coordinates and attends initial employee meetings. Establishes weekly calls using MGC Establishes daily, weekly, and monthly reporting using MGC templates and help management team prepare weekly call documents.
Develops Key Performance Indicators (KPI) to monitor the progress of the VCP and the company’s performance plan. Coordinates onsite monitoring meetings with Investment Team for specific events (Board Follow Up Meetings). Establishes clear communication to monitor the progress of the restructuring activities.
Regularly reviews the actual condition by visiting the various sites to ensure the objectives are met within budget and on
Helps management and MGC Operating Team prepare budgets, forecasts, and Board Decks.
Identifies additional business opportunities and incorporate those into the plans of the organization including facility consolidations and process improvements.
Quantifies the actual achievement and develop systems of sustainability within the
Maintains relationships with assigned Portfolio Company Senior Management team, including but not limited to, the Chief Executive Officer and the Chief Financial Officer. Utilizes relationships to execute the VCP and implement MGC direction.
Establishes CEO/CFO bonus targets with Director of the Operations and communicates expectations to respective Portfolio company Executive(s).
Manages Portfolio Company onboarding with new executive hires utilizing previous Portfolio Company Executive onboarding templates and input from Managing Directors and Partners.
Participates in interviews for key C-level hires for respective portfolio companies, including interim positions
Budget and Hoshin
Coordinates management team and Investment Team members with development of the annual budget for the portfolio company as assigned
Reviews Company’s performance YTD to budget and hoshin; Coordinates PC management to submit One Page Summary of Objectives, CY Forecast and NFY Budget at 3rd Quarter BOD Meeting; Coordinates PC management to Submit 1st draft of bottoms up budget to BOD in November per MGC timeline; Schedules and participates in BOD Meeting to review bottoms up budget with PC Management per MGC timelines; Coordinate with PC management to incorporate feedback from BOD to budget and hoshin and submit final budget in December per MGC (timeline).
Completes confirmatory analysis of budget based on underwriting model, VCP, historical performance, and budget assumptions. Tracks company activity in compliance to the annual budget process. Tracks PC compliance to the Annual Budgeting Process and coordinate
Confirms monthly hoshin updates. Coordinates with 3rd party hoshin coordinator for strategic planning and hoshin training, as necessary. Participates in hoshin meetings with portfolio company management team, as assigned. Supports PC management to meet hoshin & budget targets and provide feedback on budget and
Board of Directors Activities
Coordinates agenda for board meetings with PC management team and Investment Team VP.
Coordinates preparation of board meeting materials with Portfolio Company management. Attends board meetings. Confirms BOD follow-up items with Coordinates interim BOD meetings and materials.
Maintains relationships with industry contacts, restructuring and accounting firms
Passes along possible deals to Business Development Team
Attends Industry conferences and events, as directed
Minimum of 10+ years of hands-on Operational experience within Supply Chain, Purchasing, Human Resources, Financial Management/Financial Planning & Analysis, Technical Sales and/or Organizational Management
Bachelor’s degree in Finance, Business, Engineering, Accounting, or other relevant field of study
Complete and thorough understanding of Lean manufacturing principles and processes
Proficient understanding of company financials, EBITDA, and basic accounting principles
Executive Presence and Leadership experience, including leading and/or managing a team, and leading and challenging the organization