M247

Background

M247 is a leading connectivity and cloud services partner for growing businesses, backed by Livingbridge. DRAX were engaged by M247 to find a CFO because the incumbent CFO was leaving and there was a requirement to find a replacement in very short order. DRAX was able to place a candidate with an incredibly quick turnaround, allowing the incumbent CFO and Andrew Humphreys to have a one-month handover period.

Darryl Edwards, CEO, M247 said “Changing a CFO is so specialised and so important, so to have that one-month handover period was ideal. If DRAX hadn’t run such a smooth process it wouldn’t have been possible. It was incredible from start to finish and Mark was always quick to feedback and available at short notice for calls.”

The brief from M247 was very clear due to the situation of the business, which needed an experienced CFO who ideally had private equity experience, but also had experience in either disposals, transactions or M&A.  Therefore, the pool of individuals that we were looking at was a finite pool of individuals, but we had to be precise, speedy, and accurate.

DRAX pulled together a shortlist of individuals that were all available or soon to be available, having recently conducted private equity exits. “They weren’t just candidates, they were top drawer, excellent candidates. The whole process was so seamless it was incredible and only four months from search start to Andrew starting the role.” Darryl Edwards, CEO, M247.

The Chair, Livingbridge and Darryl met with the candidates and they down-selected to two preferred candidates. Ultimately the successful candidate was Andrew Humphreys, who was the previous CFO, at Pattern Air, which was owned by Platinum Equity. Andrew had been part of the team that merged that business with a large American organization.

Candidate Comments

Andrew, reflecting on his experience as a candidate, said “The information and insight Mark provided on the key stakeholders, the company and the role were fantastic, over and above what I would have expected. I felt fully briefed and always approached the meetings feeling well-prepared. The overall process was straightforward and quick, and at every stage, Mark gave me really clear feedback and kept me updated as to where we were in the process. DRAX has been one of the best executive search firms I have ever been involved in.” 

At DRAX, we can help you reach your value-creation goals with data-led search tactics that ensure the right leaders are placed into your business. Reach out to Mark Tomley at mtomley@draxexecutive.com to discuss how DRAX's CFO practice can assist your business’s leadership change requirements.