PierceGray Leading CFO Search for C-P Flexible Packaging
February 11, 2025 – PierceGray has been retained by C-P Flexible Packaging in York, PA, to lead in its search for a new chief financial officer. To support the continued professionalization, centralization, and growth of the company, C-P Flexible Packaging is looking to hire a new CFO to build and develop a strong corporate financial function, establish FP&A, and support M&A and integration activities. The role will lead and optimize the existing Finance team while scaling the function for future growth. As a key member of the executive leadership team, the CFO will partner closely with investors and the board of directors.
The ideal candidate will possess: Enterprise-wide financial leadership (FP&A, accounting, tax, treasury, etc.) experience in a manufacturing company of relevant size and complexity; a track record of success building strategy, capability, scale, and financial success, including recruiting and retaining talent; and a visible, hands-on approach to leadership and change management that creates a high performing organization for current and future scale.
PierceGray is looking for candidates with at least 12 years of professional experience including broad business experience and knowledge across multiple disciplines. Those applying should have experience in business strategy development, communication, and management at the enterprise level, including growth strategy, go-to-market, cost-out, and M&A. Private equity experience is preferred. They must have experience in cost accounting at the site level in manufacturing environments as well as experience leading multi-site, multi-geography teams with associated experience recruiting, developing, and retaining top talent.
Launched in 1958, C-P Flexible Packaging is one of the top 20 flexible packaging suppliers in the U.S. and supports the growth efforts of some of the world’s leading consumer packaged goods companies. The company brings together a full portfolio of flexible packaging formats spanning HD printed rollstock, premade pouches, shrink sleeves, stretch sleeves, poly bags, roll-fed labels, reclose, cold-seal, cleanroom products, thermoformed trays and recyclable flexible packaging. C-P Flexible Packaging is backed by First Atlantic Capital, a private equity firm focused on middle-market companies.
PierceGray is a specialized, retained executive search firm focused on building leadership teams in investor-back environments. The firm is functionally-focused, hiring executives and building teams in the following disciplines: operations and supply chain, sales and marketing, finance and transformation, and general management. PierceGray’s clients include private equity firms and portfolio companies as well as publicly-held companies across North America. PierceGray has been operating since 2006 and serves clients in nearly every industry sector in North America.
Related: As CFOs Gain in Stature, Succession Plans to Replace Them Falter
Matt Hamlin is the managing partner of PierceGray. Based in New York, he leads the firm’s day-to-day operations as well as key client engagements, specializing in C-suite placements in high-growth transformational environments. Prior to PierceGray, Mr. Hamlin was a management consultant focused on procurement and supply chain, gaining exposure to private equity during his time at Alvarez and Marsal. He has worked across nearly every industry sector, with search experience aligned to PierceGray’s functional offerings.
The Evolving CFO Role in Private Equity
Navigating a tapestry of challenges, private equity CFOs have undergone a transformative evolution, shifting from being financial overseers to becoming strategic pilots. Their role surpasses the scope of accounting and reporting monthly numbers; they now own and harness data, providing invaluable insights that improve fact-based decision making for the organization at large, according to a recent report from Acertitude’s Scott Carberry. “The emerging PE CFO is a vital linchpin, balancing the financial acumen, operational resilience, and strategic foresight poised to unlock new dimensions of success in an ever-changing landscape,” he said. “Adapting to these evolving circumstances, the responsibilities shouldered by PE CFOs have experienced a notable metamorphosis in contrast to previous years.”
“Today’s CFO is an adept communicator and collaborator, transcending silos to engage operational leaders, investors, and portfolio company executives to navigate fluid market dynamics, conserve cash, and drive transformation,” Mr. Carberry said. “Most importantly, they enable the ability to drive better and faster decision making, aiding in the execution of the value creation plan.”
A Look at the High Demand for Top CFOs for Private Equity Firms
In times of volatility, financial stability becomes an understated hallmark of business success. Private equity firms have, appropriately, responded to the severe macroeconomic challenges of recent years with caution, making unprecedented pullbacks in investment and reaching record levels of dry powder, according to a new report from Slayton Search Partners’ Dan Dunn.
“Today’s firms are steadying their balance sheets and preparing for long-term growth by building quality over quantity—a process that will increasingly require proactive CFOs,” he said. “CFOs are key drivers of sustainable value creation for PE firms and their portfolio companies. As portfolio sizes remain limited and the need for exceptionally successful exits grows, the role of the chief financial officer will expand in the coming years. Subsequently, demand for experienced private equity CFOs is certain to rise.”
In the current landscape, there are heightened market challenges confronting PE CFOs compared to previous years, according to Mr. Carberry. He says that executives grapple not just with survival, but proactively rising from economic inflation to maintain the original investment thesis. “These times demand meticulous attention to minute details and a strategic pivot around new pain points – namely inflation, rising interest rates, and supply chain disruptions,” he said. “Each of these challenges bears its own set of sub-challenges leading to after-effects, and the key areas to focus on during these times include balancing cash management and revenue growth, evaluating headcount, benefits, procurement, and facilities, while also investing in automation.”
Mr. Carberry explains that amidst these dynamics, pace is still paramount. “Even in the face of impending challenges, the deal team continues to expect prompt execution within the business, tasking PE CFOs to augment their strategic maneuvering while managing rapid timelines,” he said.
Related: Financial Services is Booming, CFO Role Continues to Evolve
Contributed by Scott A. Scanlon, Editor-in-Chief and Dale M. Zupsansky, Executive Editor – Hunt Scanlon Media
