Uniguest CEO Placement

Case Study

Uniguest Chief Executive Officer

Client: Uniguest 
Role: Chief Executive Officer 
Ownership: Atlantic Street Capital 
Partner: Chris Conti

Overview

Uniguest is a $40 million, Nashville-based managed service provider serving the hospitality industry globally.

As a provider of end-to-end information delivery services for the hospitality industry, the Uniguest offers an integrated package of hardware, software, content and support to help hoteliers deliver a consistent connectivity. Its services include business centers, electronic displays and other customer facing technology within hotels, as well as, in-room guest directories and other ancillary printing needs.

Challenges

Uniguest had recently experienced operational issues that derailed it a bit from Atlantic Street’s investment thesis. These issues prompted the Board to start thinking about a change in the CEO role at Uniguest. Their hopes were to bring in a stage appropriate, Private Equity savvy CEO, ideally with experience in the hospitality space.

How Lancor Helped: The Search

Lancor has worked across the Private Equity universe for 15+ years. Our first move in the Uniguest search was to examine the pool of CEO candidates who had operated a business in the relevant revenue range and ultimately gained a win by selling it.

We quickly sifted through this universe and locked onto a number of interesting prospects, with one particular gentleman standing out.

One of Lancor’s clients, Court Square Capital, owned a SaaS business serving the hospitality market called Newmarket International. It was run by a Boston-based executive named Jeff Hiscox. While Jeff had been with the business, it grew from $30m in revenue to $110m. The EBITDA number increased 10x; and ultimately in 2013, Jeff sold Newmarket International to Amadeus for a 14.3x multiple. It was a big win for Court Square Capital. Lancor quickly communicated with the Court Square deal team on the Newmarket investment to get a great reference on Jeff. We then hooked him on the story at Uniguest, and the chance to pursue another opportunity in hospitality. The Atlantic Street team worked hard to solidify Jeff’s interest and pursued him aggressively for the Uniguest CEO role.

Jeff Hiscox ultimately accepted the CEO offer on Dec 5, 2016 - a 104-day time frame from start to finish.

 

“Atlantic Street hired Lancor to run the Uniguest CEO search, and we had a positive experience in a number of ways. The company was looking for its next generation of leadership and Lancor quickly introduced us to the perfect candidate. His background was unusually relevant for what we envisioned. Luckily the timing worked out well, and with Lancor’s help we moved quickly to get him in the chair. We’re very excited about the prospects going forward.”
- Peter Shabecoff, Managing Partner | Atlantic Street Capital