Phelps
Situation
Phelps retained Cosgrove Partners (CP) for growth and succession planning. The uniform rental and facility services company is family-held, with a new generation of emerging leaders. The organization needed a transition assessment to determine the best path forward for all parties and for the future success of the business.
Cosgrove Partners Action
CP completed a robust current state assessment, discovering an opportunity to optimize the company’s marketing performance. Through a hands-on approach, CP helped Phelps use a data-driven approach to customer growth. Specifically, the marketing team leveraged customer data to develop a penetration strategy to expand and develop existing accounts.
In addition to activating growth strategies, CP advised on the CEO and ownership transition. This work required a strong monthly operating focus to help drive financial performance and improve operating earnings.
Outcome
The client was able to transition leadership to the appropriate individuals and continues to thrive in the new business structure.
