CASE STUDY -
Ten10

When Graphite Capital acquired software services provider Ten10, they turned to Drax to place a Chair into the business who could help guide the management team’s expansion strategy. From the shortlist Drax presented, Graphite appointed Jim Faulds, an experienced Chair and serial tech-enabled entrepreneur, to the role.

The Result

Humphrey Baker, Partner at Graphite Capital, said: “We were looking for chairman candidates with strong track records, intellectual rigour and sector knowledge. Drax understood the type of candidate we were looking for from the outset and were proactive in their approach. They also understood the time pressures involved. Ruby delivered some really excellent candidates and it was ultimately Jim’s experience, proactive mindset and chemistry with the management team that won through.”

He added: “We closed the deal in five weeks and Drax responded quickly to this tight timeframe. Ten10 has exciting organic growth prospects driven by the continuing growth of software development and an increasing demand for automation skills as companies seek to become more technology-enabled. We are looking forward to working with Jim to support CEO Chris Shaw in the next chapter of its development.”

Jim Faulds, Chair at Ten10, said: “I really warmed to the management team. I liked their standards, their style and culture – and above all the plan. You’ve got to be a tight-knit team because you go through a lot together. I have also admired Graphite from afar, so working with them was an attraction as well.

“During the process Drax were very straightforward, intelligent and they levelled with me, too. Several times over the years Ruby has challenged my views. Tough love is helpful. I value it! It’s much more helpful than having agreeable interactions for the sake of it. I would certainly recommend Drax to others.”

“Drax understood the type of candidate we were looking for from the outset and were proactive in their approach. They also understood the time pressures involved. Ruby delivered some really excellent candidates and it was ultimately Jim’s experience, proactive mindset and chemistry with the management team that won through.”

Humphrey Baker
Partner at Graphite Capital
“Our long-term relationship with Graphite meant that when they backed the management buy-out of Ten10, we were soon asked to conduct a Chair search. We took a lot of effort to really understand the market opportunity ahead for Ten10, to fuel our search process. The broad connectivity we have in the market enabled us to both identify and attract first class talent who could make a tangible impact to the performance of the business. It was clear that Graphite and Ten10 wanted to find someone who could operate at a strategic level but who had frontline experience, too, and therefore could work with the board to support the expansion strategy. Jim will be a fantastic addition to the business."
Ruby Sheera
Managing Director, Technology & Technology Enabled

See Ruby's profile