When a new private equity owner enters a company, it can be “one of the toughest transitions as a CFO,” according to director of finance transformation at West Monroe Connor Augustyn. “The PE transition, it’s not just about a change in ownership, it’s truly a reset of expectations, timelines, and the entire value narrative,” he said. Keith Durden, CFO at AI-powered fintech platform Worth, has been a startup CFO in that transition before, mostly recently with payments platform Stax, where he led finance for six and a half years. He said that when Stax brought on $245 million from Greater Sum Ventures, HarbourVest Partners, and Blue Star Innovation Partners in 2022, going through all the changes built resilience within him, adding that “every bit of it I’ll leverage going forward.” Durden and Augustyn provided some thoughts on what a CFO needs to do to thrive when working with new financial sponsors. Keep reading.—DL |