Case Study: Oilfield Services
Industry: Oilfield Services
- 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.
- 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.
- 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