EaglePicher CFO Placement

Case Study

EaglePicher Chief Financial Officer

Client: EaglePicher Technologies
Role: Chief Financial Officer 
Ownership: GTCR
Partner: Chris Conti

Overview

EaglePicher Technologies, LLC is a leading provider of mission–critical power solutions. The Company, which is now owned by GTCR, has been serving the highly demanding defense, aerospace, and medical battery markets for over 75 years. EaglePicher's battery systems are a key enabler of the U.S. space program, including providing the emergency power that successfully brought the Apollo 13 crew home. EaglePicher powers a multitude of key U.S. Department of Defense platforms for missile defense, portable power and directed energy, among many others, in addition to a large number of aerospace programs and a variety of implantable medical devices. EaglePicher was founded in 1942 and is headquartered in St. Louis, Missouri.

Challenges

Having recently been acquired by GTCR in early 2018, EaglePicher was on a mission to find their next CFO. They hired Lancor to lead the search, working directly with CEO, Gordon Walker.

As a talented, but first-time CEO, Gordon expressed the importance of having a savvy CFO. Being a business partner to the CEO was a critical component of the search profile. Considering Lancor’s guidance, they preferred to find a PE-tested CFO with experience in the technology space.

While a desirable city, EaglePicher’s St. Louis location presented another challenge. We needed to find an experienced Private Equity CFO who would be willing to make the move if needed.

How Lancor Helped: The Search

Private Equity, Technology and CFOs are in Lancor’s sweet spot. Using our industry knowledge, PE relationships and insight into what makes a successful CFO, we kicked off the search in February 2018.

Having a CEO who was decisive throughout helped the process run smoothly from start-to-finish. Ultimately, the choice came down to two very different profiles: the up-and-comer or the seasoned veteran.

Upon final selection, Lancor helped navigate a multiple-offer situation for the candidate, but didn’t let him get away.

Kurt Bruenning accepted the CFO offer on May 2nd, a 64-day timeframe from start to finish. 

Being a relatively recent placement, it’s too early to report on specific business and financial impact that Kurt’s hire has had on the company, but it did allow for EaglePicher to significantly upgrade the leadership of their finance function, providing a springboard for future growth.

 

“Lancor and Chris were able to distinguish themselves in our CFO search with a high-touch engagement, rapidly sourcing a good number of excellent candidates and enabling a number of valuable screenings early in the process. This was invaluable in helping to refine our requirements. I would like to say that I knew exactly what I was looking for at the outset, but this wasn’t the case. Chris’ ability to introduce a spectrum of qualified candidates was tremendous.”

- Gordon Walker, CEO | EaglePicher Technologies