THE REASON FOR THE SEARCH

Ventoux Partners initiated the search following the planned retirement of the incumbent CEO, who had originally stepped into the role as an operating partner for 18 months but remained for three years to stabilise and scale the business.

The company had grown 300% over the previous three years and was entering a critical phase: a three-year hold targeting growth from $35M to $50M revenue ahead of exit.

The board required:

• A CEO who could start immediately

• A defence-savvy operator

• A commercially strong leader capable of accelerating business development

• Someone comfortable leading a precision manufacturing environment

• A PE-experienced executive who understood value creation and exit discipline

The challenge was compounded by geography. Rand Machine is located in Falconer, NY (Western New York), a remote manufacturing town with limited local executive talent. The business needed someone willing to relocate or commute consistently — narrowing an already highly specialised candidate pool.

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THE PORTFOLIO COMPANY

Rand Machine Products, headquartered in Falconer, NY, is a precision manufacturing business serving major aerospace and defence customers.

Core capabilities include:

• CNC Machining

• Welding & Fabrication

• Non-Destructive Testing

• Tight-tolerance, highly engineered components

The business serves major primes and Tier 1 contractors including government programmes and the F-35 platform.

At the time of search:

• Revenue: ~$35M

• Headcount: 130

• Single-site operation

• 300% growth achieved in previous 3 years

• Strong operational base

• High customer satisfaction

• Long-term aerospace programme exposure

This was not a turnaround. It was a high-functioning, growth-oriented precision platform requiring commercial acceleration and exit preparation.

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THE SEARCH REQUIREMENTS

The mandate required:

• Deep Aerospace & Defence knowledge

• Prime and Tier 1 defence contacts

• Experience in munitions / defence manufacturing

• Strong business development capability

• Operational leadership credibility

• Prior PE-backed experience

• Exit experience (ideally two exits)

• Ability to build a team and scale BD capability

• Grit — someone who understands manufacturing from the ground up

The board was clear: they did not want a “corporate C-suite career executive.”
They wanted a leader who had climbed the ladder in manufacturing and could command respect on the shop floor while winning contracts in Washington and with major primes.

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THOUGHTS ON THE CANDIDATE

Dan is an exceptional match for Rand Machine and Ventoux Partners.

Why He’s a Great Fit:

• Proven revenue growth: scaled a defence business from $40M to $52M

• Turned EBITDA from negative to 12% through operational discipline

• Deep defence customer relationships

• Prime & Tier 1 connectivity

• PE-backed leadership experience

• Strong operational foundation combined with commercial focus

• Defence-first mindset aligned with Rand’s customer base

• Comfortable in precision, tight-tolerance, highly engineered environments

• Growth-oriented and BD-capable

Dan combines operational credibility with commercial horsepower — exactly what the board required to move from strong execution to accelerated growth and exit readiness.

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WHY WE’RE BULLISH ON THIS APPOINTMENT

Rand Machine is already a well-run business.

The next phase requires:

• Expanding defence relationships

• Winning additional programme work

• Scaling revenue toward $50M

• Building additional BD infrastructure

• Preparing the business for exit within three years

Dan has already executed EBITDA improvement in a defence environment. He understands margin discipline, cost control, manufacturing throughput, and value-based pricing.

Equally important, he brings defence network credibility — critical for a company active on the F-35 platform and selling into primes such as Lockheed and Northrop.

The geographic constraint made this search particularly complex. Identifying a PE-backed, defence-savvy CEO willing to operate from Western New York required precision targeting and disciplined qualification. Dan’s willingness and alignment solved one of the board’s biggest risks.

This is a high-confidence, strategically aligned appointment at a pivotal moment in the investment lifecycle.

Jack Burns, Principal Raw Selection