Insights
- A natural gas processing company needed to develop a board to provide market perspective and guidance
- The company’s leadership team was young and aggressive, but had limited background and experience in the field
Action
- The Newport partner was engaged to help evaluate the company’s needs
- Trust was built by implementing small operational improvements throughout the organization
- A strategy of customized equipment offerings was envisioned and developed
- The Newport partner helped deal with certain legacy partners who were hindering efforts to move the company to the next level
- New employees were recruited with the needed skillsets
- Processes were developed and implemented
- Ultimately, a board was created and members were recruited
Results
- The Newport partner continued to advise the company as a rapid growth spurt evolved
- The company ended the fiscal year at 6x greater sales than the previous year
- This sales increase was 4x the maximum sales rate previously experienced
- The company’s run rate accelerated to $75 million per year
