Case Study: Oilfield Services

Industry: Oilfield Services

Company: CONFIDENTIAL

Situation: 

  • Private equity firm launched a small (sub $20m revenue) oil field services firm to capitalize on unique customer relationships and demand for a specific set of services.
  • Despite an embedded competitive advantage, the firm failed to achieve profitability or scale.
  • Company was losing money, owned equipment poorly suited for the target market, was mismanaged and at risk of insolvency.

1836 Role:

  • A young veteran entrepreneur and member of the 1836 network stepped in to this company as CEO in order to stabilize and grow the business.
  • The 1836 network has provided direct introductions to potential customers as well as mentorship and coaching on financial planning, budgeting, and capital strategy.

Results:

  • 1836 CEO was able to directly leverage his military experience to 
  • Assess the operating environment and the company
  • Establish priorities of work
  • Build and lead a lean, energized team of employees
  • Execute with a sense of urgency, attention to detail and limited direct support from investors
  • Revenue up 200% 
  • First profitable quarters in company history
  • Equipment fleet now spec’d for target market
  • Robust and growing sales pipeline
  • Adding equipment and headcount to address increasing customer demand
  • Investors previously facing a multi-million-dollar loss now own a profitable growing business
Case StudiesJake Hare