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Chief Operating Officer (COO)

Company Name:
Career Development Partners
Our Client is recognized as one of the fastest growing, and most innovative, small businesses in the State of Washington, they offer build-to-print manufacturing of custom parts and assemblies. They are a diverse manufacturer of composite-based products and parts headquartered in South Central Washington. (They are close to Yakima, WA and about 200 miles from Seattle, WA).

They produce molded fiberglass parts by utilizing several processes including open molding, resin transfer molding (RTM), and vacuum-assist RTM (VARTM). In addition, they have large and small vacuum-formed plastic capabilities along with finishing, value-added assembly, and custom packaging.

They are also an industry-leading manufacturer of fiber-reinforced plastic components ("FRP") for a wide array of industries with expertise in design, engineering, and research and development. Their products are distributed to Military, Transportation, Recreational Vehicle, Construction Equipment, Energy and Commercial markets.

Established in 1987 - they have been private equity-backed since 2008. They have tripled in size in the last 4 years, completing two acquisitions and establishing itself in markets across the United States and abroad. The private equity firm that owns them is just about to complete yet another Acquisition to add to this companies portfolio.

Plants will be located in Washington, Alabama and a soon to be mentioned Mid Atlantic State. It will take the total number of employees to about 500 + with a sales volume in the $80 million dollar range combined.

Responsibilities of position:
Oversee Operations, Quality and Engineering at all 3 facilities:
Washington (225 People) 160,000 Square feet Ops. Director on site.
Alabama (50-60 people) 80,000 Square feet Plant Mgr. on site.
Mid Atlantic (estimated: 250 People).

We need a person who is familiar with managing Multiple Fiberglass/Composite plants- there is a mix of manufactured products and build to print products.

We also desire a person who has managed P&L for Multiple plants in the $40 Million and up range. (Within the next few months that will double to $80 million, so a larger budget responsibility is ideal.)
IDEAL CANDIDATE PROFILE
The person who will fit best is the one who understands the company is not a just a job shop with production capabilities, they are also doing some R&D to determine what will work for the customer. The COO will have the dual responsibility for satisfying the customer's needs as well as the Private Equity Mindset. (They will be holding this COO to task to maximize profit- get things standardized and produced.) They are constantly measuring costs and have fixed expenses.

That being said we need a person with EQUITY Mentality. This person will be rewarded for driving/ maximizing gross profit dollars based on order flow. They realize there is a part that is uncontrollable on the R&D end as metrics and measurements are not set, however there will be a big part that is controllable - they deals in processes- they make probably no more than 4000 parts, some things they might only make 10 of a year, others might be 300 a month every month. So the COO is straddling those demands of being a part Mfg. Facility & part R&D facility too. They really need a leader who will run/ oversee Operations as well as police Engineering, Production and Quality to make sure they have the right balance...

This facility is in the Pacific NW, is remote, so finding a person who has a connection to the area and/or what it has to offer by way of quality of life is key. (Numerous Wineries, and Mountain Ranges. Hikers, Rock Climbers, outdoorsmen, etc. will like this area.- The big city; Seattle, WA is only 2 hours away by car.)


This COO needs to be ok with the fact that their engineering staff is smaller and the local work force is unskilled ($12 an hour) in relationship to coming from a big Company like Boeing so they need a roll up your sleeves type person who can work into that environment, grow it, mentor, etc.

We need a person who can convince them that these things are not obstacles. A person coming from a Consumer Fiberglass company has a part production process that is different than theirs. They are doing a lot of iterations with customers to build to print in real time hoping to release the product yesterday! vs' using a methodical process that people might be used to in Aerospace- so this might be frustrating to some people... also will this new COO be disappointed that they are not doing cutting edge stuff at this plant.... that's another big concern... Example: They do some Spray up- not a lot, but some- how frustrating will it be for a guy coming from Boeing or the like, having to deal with overseeing a guy on how to hold the gun so they don't waste material... etc. (These are some obstacles to consider.)

Education requirements:
B.S. is ideal and advanced degrees are nice, but "fit" is more critical than pedigree.

Selling Points:
They have tripled in size in the last 4 years. They have M&A activity on the horizon that could lead to double-digit growth in the next few months. They will continue to grow at least 20% a year. They will be expanding their footprint in Alabama as well.

The right candidate who shows the right charisma and attitude could grow to be the CEO. That is another opening they are discussing filling, but need to lock this one in first.

Washington is the mother ship so the person will be a very high profile person.

This person is also encouraged to contribute some of their own Equity as well as their will be some sort of Equity grant as part of the Compensation Package. - They want a person that is vested in the growth of the organization.

They want an ambitious person who can steward their growth to double digit again, so it's a great opportunity to be integral in the growth of this organization.


Salary Range: $120K- $200K base range + Bonus (Estimated at 25% based on Productivity & EBITA) + Equity (There will be an opportunity to Co-invest at whatever the going rate is, sounds like that will be a discounted /special rate) + there will be an Equity Grant with a 5 year Vest. (Compensation will not be show stopper- there is flexibility.)

Benefits: Comprehensive Plan


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