June 11, 2024
Summary
The Sterling Group is seeking a detail-oriented and self-motivated Staff Accountant II to join our team. The Staff Accountant II will report to the Assistant Controller, Management Company Accounting and will assist with the accounting and financial reporting functions for The Sterling Group.
We are a small group of highly motivated professionals dedicated to creating exceptional companies and being the best in class. As part of a small team, you will work closely with upper management in an active role to drive improvements and maintain integrity of our processes and procedures. This role is a great opportunity for the right person looking to advance their career and work with a growing private equity firm. Through the responsibilities below, the Staff Accountant II will have insight into all the inner workings of the firm.
Key Responsibilities
Assist in the production of TSG’s firm-wide financial reporting, including but not limited to the annual budget, monthly forecast, and quarterly business reviews for distribution to executive management and ownership
Continuous improvement of processes and procedures to ensure accounting record integrity
Maintain the books and records, including journal entries, intercompany adjustments, transfers, and reconciliations for multiple entities
Perform month-end closing activities including accruals, leases and fixed asset accounting, and balance sheet/income statement reconciliations
Assist with treasury functions, including cash management for over 150 accounts
Prepare ad-hoc financial analyses and assignments as requested
Qualifications
Bachelor’s degree with major in accounting from an accredited university
Minimum cumulative GPA 3.7
Passed all four parts of CPA Exam
Strong Excel skills (e.g., PivotTables, VLookup, etc.)
Proven ability to analyze, interpret and present operating results and complicated financial data
Competencies
Highest degree of personal integrity, judgment, and professional ethics
Tech savvy and able to enhance use of multiple accounting applications
Strong work ethic and the ability to work independently and as part of the team proactively
High degree of accuracy and attention to detail, organized and methodical
Ability to handle competing priorities and change in a deadline driven environment
Resourceful, efficient professional with the ability to meet tight deadlines and a problem solver mentality
Excellent oral, interpersonal, and written communication skills
April 25, 2024
The Technology Specialist will be responsible for overseeing and managing our firm’s technology infrastructure, ensuring the seamless operation of our network systems. Reporting directly to the CFO, this pivotal role plays a critical part in optimizing our technology solutions to support our business objectives. In addition to providing exemplary customer service to our internal stakeholders, this role will also entail the strategic management of our primary technology outsourcing vendor, ensuring effective collaboration and the delivery of high-quality services.
Responsibilities:
Oversee the management and maintenance of our firm’s technology infrastructure, including hardware, software, and network systems.
With our external service provider, manage IT service delivery to ensure efficient and effective operations.
Lead the firm’s cybersecurity program in collaboration with a third party vendor
Proactively identify and address IT issues, troubleshooting technical problems, and providing timely resolutions while delivering exceptional customer service
Identify IT security risks and develop mitigation plans
Assist in developing and enforcement of security procedures
Manage relationships with external vendors and service providers to ensure quality service delivery and cost-effective solutions.
Ensure compliance with IT policies, procedures, and regulatory requirements while maintaining a focus on delivering superior customer service.
Support the procurement process, including equipment and software purchases, from start-to-finish, including vendor assessments and contracts
Qualifications:
Bachelor’s degree in Information Technology, Computer Science, or a related field.
5+ years of experience in IT service delivery, preferably in the financial services industry.
Strong technical skills and proficiency in managing network systems, hardware, and software.
Proven ability to troubleshoot technical issues and implement effective solutions while prioritizing customer service.
Excellent communication and interpersonal skills, with the ability to collaborate effectively with cross-functional teams and provide exceptional customer service.
Strong organizational and time management skills, with the ability to prioritize and manage multiple tasks simultaneously.
Ability to work independently with minimal supervision and thrive in a fast-paced environment.
Relevant certifications (e.g., ITIL, CompTIA, Cisco) are a plus.
March 15, 2024
THE FIRM
The Sterling Group is an operationally focused middle market firm focused on the industrial sector. Founded in 1982, Sterling is one of the longest standing private equity firms in North America. Sterling has ranked consistently in the top quartile of private equity firms by virtue of its strong returns. Further, 80% of its returns have been driven by organic EBITDA growth as opposed to financial engineering, a result of Sterling’s operational investing style. Sterling’s investor base is comprised by some of the largest and most respected global institutional investors.
AREAS OF EXPERTISE AND IMPACT:
Working with the deal teams, portfolio company executives and third party consultants, this role will be responsible for supporting the portfolio companies in the identification and execution of 2 to 3 major Strategic Sourcing projects at any given time. In addition, the Principal, Operations in driving other supply chain projects – such as transportation and logistics, inventory mgmt. and warehouse mgmt. The Operations Principal will work closely and collaborate with other 7 Levers resources.
1. Lead Portfolio Company Value Creation
Support post-close value creation planning processes across our portfolio companies for specific direct and indirect strategic sourcing projects (Procurement)
Through the PMO processes, assist the team evaluate and assess the appropriate strategic sourcing initiatives and more broadly Supply Chain Management projects.
Support PMO execution within the Operation lever for all procurement and SCM projects.
2. Support New Deal Diligence
Support new deal diligence across multiple operations improvement levers but with a focus on Procurement and Supply Chain for 1-2 deals simultaneously
Translate successful operations improvement specifically procurement and SCM thesis into post-close value-creation planning
3. Lead Portfolio-wide programs
Lead the Sterling Leveraged Procurement Program, including roll-out of Wave 2 categories and onboarding of new portfolio companies
Support development of Sterling functional standards in key levers: Strategic Sourcing and SCM
Develop and lead portfolio wide SCM counsel of experts across the portfolio of companies.
Lead identification and selection of consultants
Ensures effective communication between cross functional teams.
Consult and drive purchasing functions and strategic sourcing at our portfolio companies.
Ensure effective demand planning and inventory control systems are developed, optimized, and monitored.
Responsible for inventory demand planning and managing OTC’s supply chain while working to reduce costs and improve quality and productivity.
Perform annual analysis to evaluate overall cost savings after implementation of new strategies.
Follow industry professionals and organizations to maintain an awareness of best practices.
Ensure that all practices are consistent with industry guidelines and regulations.
Monitor commodity market trends to identify new emerging opportunities and risk.
ENGAGEMENT MODEL, INFLUENCE AND IMPACT:
Bias to get out in the field with management teams to build relationship, monitor and advise.
Ability to influence the executive teams to drive the desired business outcomes.
Align functional areas of the company to meet strategic objectives.
PROFESSIONAL CHARACTERISTICS:
Bachelor-level degree in Engineering, Business Administration, or other field supplemented with relevant experience.
3-8 years experience as Procurement or Strategic sourcing management in an industrial, distribution or manufacturing company.
3-8 years of consulting experience across relevant strategic and operational topics, specifically leading procurement projects in the industrial market.
Experience working with industrial firms (e.g., manufacturing, distribution and industrial services)
Ability to drive 2-3 simultaneous value creation engagements on a stand-alone basis, working directly with deal and management teams.
Competency in executing multiple projects simultaneously.
Ability to lead and influence across portfolio companies Procurement professionals.
COMPETENCIES:
Excellent communication skills, able to effectively engage and influence portfolio company teams.
Strong problem-solving skills, able to be a thought leader across multiple levers.
Alignment with Sterling values of partnership, discipline and passion.
March 15, 2024
THE FIRM
The Sterling Group is an operationally focused, middle-market firm focused on the industrial sector. Founded in 1982, Sterling is one of the longest standing private equity firms in North America. Today, the firm has $6 billion in assets under management. Sterling’s returns consistently rank in the top quartile of private equity firms globally. Further, 80% of its returns have been driven by organic EBITDA growth as opposed to financial engineering, a result of Sterling’s operational investing style. Sterling’s investor base is comprised of some of the largest and most respected global institutional investors.
MISSION STATEMENT
The mission of the Vice President, Commercial Excellence (“VPCE”) is to drive value creation through the commercial function within the firm and across the portfolio. The VPCE will serve as a trusted advisor, technical expert, and execution facilitator to our deal teams and portfolio company executives – focusing on commercial excellence and organic growth projects that include pricing, salesforce effectiveness, and marketing.
The role will be focused on two main areas:
Platform diligence and value creation (~80% of time) – The VPCE will work with the Commercial Operating Partner to support portfolio company executive teams and deal teams in advancing the commercial effectiveness of those platforms. The VPCE will help deal teams identify commercial opportunities during diligence and will ultimately work to execute on a prioritized subset of those opportunities (and others identified post-close) as part of the Sterling Value Creation Process. The scope of work will include assessing, initiating, and helping plan, monitor, and execute commercial initiatives across the Sterling portfolio. An effective VPCE will leverage deal teams, portfolio company management, and third-party resources to help successfully execute initiatives. Further, the VPCE will need to adapt his or her methods of engagement by platform to achieve the goals outlined.
Sterling value creation (~20% of time) – The VCPE will work with the Commercial Operating Partner, across the firm and through committees (primarily the Operations Improvement Committee) to be a thought leader and contributor who can further develop the Firm’s commercial operating capabilities. The VPCE will also work across the firm and with the Commercial Operating Partner to develop best practices in commercial excellence benchmarking, training, project planning, and execution.
The VPCE will also help develop and codify relationships with third-party consultancies aligned with Sterling’s processes and methodologies, and he or she will be expected to attend appropriate conferences, webinars, and other forums to learn new best practices that could be applied at our firm and/or portfolio companies.
AREAS OF EXPERTISE AND IMPACT:
Working with the deal teams, portfolio company executives and third-party consultants, the VPCE will be responsible for supporting the portfolio companies in identifying and executing 5 to 8 major commercial initiatives with varying degrees of complexity at any given time. The areas of expertise and impact for the VPCE will span the full range of commercial activities, including:
1. Commercial Strategy
Working with the growth strategy and commercial excellence groups (within Sterling, at the portfolio company, and/or at third-party firms) to analyze markets, customer segments, and competitive landscapes to provide informed, thoughtful and actionable commercial opportunities.
Developing comprehensive and clear commercial strategies, along with actionable plans that will deliver profitable, organic growth (e.g., by improving salesforce and pricing effectiveness, marketing, etc.).
Creating clear value propositions (e.g., for customers, employees, vendors).
2. Go-to-Market (channel, organizational design, coverage model)
Working with portfolio teams to develop enhanced channel and sales coverage strategies – including defining the organizational design of the sales and marketing teams, as needed.
Supporting specific strategic planning sessions related to channel partnerships, distribution models, sales rep. management, etc.
3. Commercial Operations (KPI, systems, tools, reports, organization, large quote process)
Establishing and measuring KPIs.
Identifying and implementing tools and systems needed to successfully improve the sales function (e.g., CRM).
Implementing sales forecasting and sales and operations planning practices (S&OP).
4. Pricing (strategy, control design, tools, and execution)
Optimizing pricing (e.g., transitioning portfolio companies from commonly seen cost-based pricing models to value-based pricing)
Supporting initiatives to improve pricing segmentation (e.g., cost-to-serve, engagement model).
5. Sales Organization Design
Assessing the sales team’s effectiveness, and identify areas for improvement.
Identifying roles and competencies needed to deliver the value proposition.
Developing and improve salesforce compensation plans to help achieve goals.
6. Sales & Marketing Process Design & Methods
Designing sales processes (pipeline, customer engagement, service, etc.) for various go-to-market models.
Designing and/or developing sales training programs as needed.
Familiarizing the team with sales enablement marketing methodologies and frameworks.
7. New Product Development and Commercialization
Using best practices to obtain voice of customer and other inputs needed to outline opportunities to improve and/or expand the portfolio company’s products and/or services.
Improving new product development/commercialization processes.
8. Customer Service Excellence
Supporting the evaluation of potential new and existing customers and needs – and leading the team in a proactive, post-sales approach with a focus on solutions efficiently and effectively delivering products and services;
Leveraging customer insights to identify business opportunities and strategies.
Working with management to improve customer service processes.
9. Marketing (strategy, brand, product, lead generation)
Helping develop marketing and branding strategies as needed.
Evaluating and improving lead generation practices.
10. Digitalization & AI
Developing new tools to leverage digital and Artificial Intelligence technologies to enhance customer experiences, improve sales operations, lead generation, pricing strategies, customer segmentation approaches, marketing content, etc.
ENGAGMENT MODEL, INFLUENCE, AND IMPACT:
Bias to be in the field with management teams to build relationship, monitor progress, and advise as needed
Ability to influence the executive teams to drive outcomes
Mentor investment professionals and high-potential executives
Achieve planned revenue, margin, and related commercial objectives.
PROFESSIONAL CHARACTERISTICS:
At least three years of experience working on commercial engagements with a consulting firm that serves the industrial segment and three to five years working as an operator in revenue/sales operations (e.g., sales, marketing, pricing) function – having held supervisory roles in organizations with over $500M in revenue
Experience with and/or comfort with dotted-line reporting structures / primarily influencing roles
Extensive experience overseeing/utilizing third parties
Experience working in a “performance based” and fast paced environment
Proven record of developing/improving sales and marketing infrastructure and processes
COMPETENCIES:
Competent in building analytical models and tools in MS Excel, Power BI, Tableau, and other analytical tools
Possesses a mind-set for continuous improvement
Active, execution-focused ‘change-agent’
Familiar with basic project management practices and tools (e.g., MS Project, Asana, Instagantt)
Working knowledge of and experience implementing CRM systems (e.g., SFDC, Hubspot, MS Dynamics, etc.)
Persuades, collaborates, and builds networks
Strategic, partnership-focused mindset.
October 27, 2023
The Sterling Group is an operationally focused middle market private equity firm focused on the industrial sector. Founded in 1982, Sterling is one of the longest standing private equity firms in North America. Today, the firm has over $6.1 billion in assets under management. Approximately 70% of Sterling’s returns have been driven by organic EBITDA growth, a result of Sterling’s operational investing style. Sterling is currently investing in the middle market out of Fund V, which is sized at $2 billion in commitments. Sterling recently launched the Foundation Fund, sized at over $635 million in commitments, to execute its same operationally focused investment strategy within the lower middle market. Additionally, Sterling has raised two credit funds, and is currently investing Credit Fund II, which is sized at $320 million in commitments. Sterling’s investor base is comprised by some of the largest and most respected global institutional investors.
THE ROLE
The Sterling Group is seeking a highly qualified 2024 MBA graduate to join our growing team of investment professionals in the middle market. The Vice President will play an integral role in the next phase of Sterling’s success and begin what we hope will be a long-term career with the firm. The Vice President will be provided with the guidance and tools for a Partner track.
Hands-on experience transforming companies and leading teams – As a member of Sterling’s investment team, Vice Presidents are deeply involved in the improvement, strategy, and operations of middle market industrial companies. Given Sterling’s strategy and investing style, this is a unique opportunity to be a part of transforming businesses and industries. Vice Presidents will contribute to and eventually lead all key efforts across the investment lifecycle, including investment thesis development, deal evaluation, diligence and execution, strategy development, key value creation initiatives, and exit preparation and execution. Vice Presidents are also actively involved with portfolio company boards with the goal of sitting on boards early in their career.
Operational experience – Vice Presidents are embedded in a portfolio company for a year to gain further operational experience and directly transform the business from the inside. Vice Presidents fill a senior management position, reporting directly to the CEO and work on projects ranging from operational improvements to acquisition integrations.
Personal development programs – Sterling offers an annual stipend towards professional development in addition to a competitive bonus structure and carried interest. Vice Presidents are teamed with one of the Partners as a formal mentor. This is an opportunity to learn from a diverse group of highly successful, but still deeply involved and committed Partners.
Ability to drive growth at Sterling – Vice Presidents help shape the firm’s continuous improvement efforts, best practices, and strategy. Vice Presidents are invited to sit on one or more internal committees which actively shape the growth of the firm. Current committees include Sourcing, Improvement, Deal Evaluation, Human Capital, and ESG.
Responsibilities:
Screen new investment opportunities and lead due diligence efforts
Drive transaction evaluation and execution
Collaborate closely with in-house functions such as Human Capital, Sourcing, Strategy, Operations, etc.
Assist in negotiating acquisition and financing documentation
Develop portfolio company strategy alongside management
Lead monthly operational review meetings and engage in quarterly board meetings
Lead internal initiatives and improvement efforts
Manage pre-MBA Associates in day-to-day activities and as part of deal teams
Qualifications:
Graduate student enrolled in a full-time MBA program graduating in 2024
4 years of experience in investment banking, private equity, management consulting, and/or operational experience at a premier industrial company
Experience and/or interest in manufacturing, distribution, and/or industrial markets
Military or other significant leadership experiences are valued
Passion for improving and growing industrial businesses
Demonstrated academic excellence
Self-driven personality
Drive for continuous improvement on both personal and company levels
Personal ties to, or a desire to live in Houston
ABOUT THE STERLING GROUP
The Sterling Group is a middle market private equity firm based in Houston, Texas. Founded in 1982, Sterling invests in manufacturing, distribution, and industrial service businesses with enterprise values typically between $100 and $750 million. Sterling has sponsored the buyout of 67 platform companies and numerous add-on acquisitions for a total transaction value of over $22.0 billion.
Sterling’s investment strategy is predicated on acquiring good businesses that are under-managed or under-performing their potential and that have substantial opportunities for strategic and operational improvements. Through a hands-on approach and our Seven Levers Methodology, Sterling works in partnership with management teams to drive fundamental transformations of businesses and industries. The Seven Levers are the areas in which we consistently and materially impact businesses; Human Capital, Strategy, Execution, Commercial, Operations, Technology, and M&A. They are based on the principles of continuous improvement and are resources our management teams can use to enable speed, confidence, and consistency in business building. We take good businesses and transform them into winning companies. Doing so means winning for customers, winning for employees, and winning for investors, including Sterling.
On past realized investments, Sterling has generated a return of 3.0x gross invested capital¹. Over 70% of this return was driven by organic EBITDA growth. We believe Sterling generates the majority of its returns for its investors by fundamentally improving the strategy and operations of its businesses. This strategy has worked throughout a variety of market cycles.
Sterling currently has over $6.1 billion in assets under management. In 2020, Sterling closed $2.0 billion in Fund V, making this our largest fund size to date. Fund V was oversubscribed and closed in approximately four months. Sterling has a strong base of long-term investors, comprised of some of the largest and most respected global institutional investors.
The Sterling Group is an operationally focused middle market private equity firm that builds winning businesses for customers, employees and investors.
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