Description

Position Background and Summary

Based in Salt Lake City, UT, and founded in 1994, Biomerics (the “Company”) is a leading vertically integrated medical device contract manufacturer focused on micro-plastics, micro-metals, image-guided intervention, and final device assembly for high growth interventional sectors. In July 2023, Biomerics and ONCAP Management Partners (“ONCAP”) announced a transaction in which ONCAP would become a significant minority shareholder in Biomerics. As part of the transaction, Biomerics also merged with the medical business of ONCAP’s portfolio company, Precision Concepts (“Precision Concepts Medical”), which includes Precision Concepts Group of Winston-Salem, North Carolina, which was acquired from the Marino family in April 2023. This investment was made in partnership with the Company’s founder and CEO Travis Sessions, shareholder Wasatch Equity Partners, and the Marino family (collectively, the “Shareholders”).

ONCAP is a leading private equity firm focused on building value with North American companies in partnership with their management teams. ONCAP is an affiliate of Onex Corporation, one of North America’s oldest and most successful private equity firms, with over $50 billion of assets under management. Since inception ONCAP has invested in 36 platform companies, completed over 190 follow-on acquisitions to build those platform companies and earned a 4.3x multiple of capital and a 42% gross IRR on all realized investments to date – ONCAP has never experienced a capital impairment on any realized investment. More information can be found at www.oncap.com or www.onex.com.

Biomerics is seeking a Vice President, Supply Chain to lead the business as part of its next stage of growth. The role will report to the Chief Operating Officer (“COO”) and requires experience in driving strategic and value creation initiatives to enhance supply chain and procurement effectiveness, reduce risk, and increase efficiency/profitability across the organization. The VP of Supply Chain will be a true partner to the senior leadership team, be a major voice in strategic decision-making, and will operate with a significant level of autonomy. The VP of Supply Chain will lead supply chain and procurement across all locations in Biomerics’ footprints, including Salt Lake City (Headquarters, R&D, and Manufacturing) (UT), Brooklyn Park (MN), Monroe (CT), Athens (TX), Santa Clara (CA), Fairfield (CA), Galway (Ireland), Cartago & Alajuela (Costa Rica), Mebane (NC), Winston-Salem (NC), Harrisonburg (VA), and Haina (Dominican Republic). 

The VP of Supply Chain must be an energetic manager with strong capabilities across Biomerics’ core supply chain and procurement functions (vendor negotiation, raw material purchases, and manufacturing) and have the ability to be tactically hands-on when needed while maintaining a strategic view. The VP of Supply Chain must have a strong drive and track record of creating value across multiple vendors, increasing efficiency, and instilling a culture of excellence, rigor, sense of urgency, and continuous improvement. The incoming VP of Supply Chain must have an appreciation and respect for the entrepreneurial culture that propelled Biomerics to its current position with an aim to preserve the strongest parts of this culture while adding a degree of professionalization and sophistication via systems, processes, and accountability to performance. In fulfilling these roles, the VP of Supply Chain will work with the Company’s major investors (ONCAP and Wasatch) and senior leadership. 

The VP of Supply Chain will inherit an organization that requires enhancements as part of the integration of Precision Concepts Medical and Biomerics. There will be opportunities to invest in systems and processes, implement new standards and reporting systems, and overall execute a vision of best practices in the mind of a VP of Supply Chain. The VP of Supply Chain will have the support of management and the Shareholders to invest resources in developing these enhancements. 

Major Responsibilities

• Development of both a short-term and long-term Supply Chain and Procurement Plan, including specific action items, key improvement goals & metrics, and related KPIs to enhance capabilities, reduce risk, and increase efficiency/profitability to achieve Company objectives. Important to be able to force rank and prioritize strategic objectives in the face of finite resources. 
• Oversight and management of purchasing/sourcing, operational forecasting, manufacturing demand planning, and supply chain coordination to achieve quality and delivery requirements, increase facility throughput, reduce costs, and optimize inventory investment.
• Drive implementation and provide executive leadership for enterprise-wide Sales & Operation Planning (S&OP) process
• Determine ideal organizational design in order to achieve objectives, including the proper coordination and pooling of purchases across the newly integrated organization.
• Negotiates with current and potential vendors for the purchase of raw materials, equipment, parts, and services to achieve the best possible value, quality, and terms. Such negotiations will be conducted to ensure proper execution and on-time delivery to meet the Company’s production needs.
• Continuously assesses market conditions and sources new vendors in an effort to manage the company’s cost management strategy. Continuously negotiates pricing to ensure the lowest possible acquisition cost. Seeks discount structures and volume rebates when possible.
• Identifies and leads VA/VE (value analysis/value engineering) projects across the supply base. Leads make/buy analysis to determine best fit vertical integration projects which tie to Biomerics strategy.
• Optimize rough cut capacity plans and master scheduling processes to create efficient material flow within and between manufacturing facilities to improve OTIF and drive the realization of the monthly sales budget.
• Drive focused efforts to improve inventory turns across raw materials, WIP, and finished goods inventory. Perform AMC analysis, set inventory targets, and monitor performance.
• Works with the Plants to establish purchasing policies and ensures compliance with these standards.
• Examines bids and quotes and executes actual purchasing when necessary.
• Works to establish account credit and terms with the supply base. Drive supplier-owned inventory programs, including consignment and VMI.
• Audits facilities to ensure compliance with policies.
• Work with the operations to ensure they are purchasing materials in the optimal quantity.
• Responsible for data oversight into the Company’s ERP and MRP systems.
• Performs other duties as assigned.
• Develops, mentors, and hires as needed for the Supply Chain Team to build the succession pipeline and generally strengthen and improve the capacity of the Operations function.

Requirements

Experience: The ideal candidate possesses a minimum of 10 years of experience in various supply chain and purchasing roles and 5 years in a position equivalent to a VP of Supply Chain or other senior leadership positions managing within a large facility or multi-site facilities. Has previously worked with acquisitive and high-growth businesses and understands the unique challenges with fast-paced growth. Supply Chain experience with medical CDMO’s or OEM’s is strongly preferred. Certified Purchasing Manager (CPM) or Certified Professional Purchaser (CPP) professional designations are strongly preferred, as well as advanced knowledge of MRP systems, with the understanding of how system data affects desired outcomes, as well as experience with the Visual Manufacturing ERP System.

Education/Credentials: Undergraduate degree; MBA is a plus. 

Operational Capabilities: Ongoing “continuous improvement” approach along with a demonstrated track record of value creation by increasing supply chain capabilities and effectiveness, negotiating, reducing risk, increasing efficiency/profitability, and reducing costs. Must have a strong financial acumen and understanding of inventory techniques, vendor sourcing, and standard costing.

Entrepreneurial Mindset: Ability to serve as an energetic, hands-on, and decisive manager while maintaining a high-level view. A “curious thinker” who is positive and a motivated team player with a participative management style that looks to include and teach others. 

External Interaction Experience:  Previous experience interacting with external parties such as investors (public and/or private), acquisition targets, etc. Previous experience with a private equity sponsor is preferred but not required.

Business Partner: Proven track record of being a strategic business partner who can add value through analysis and recommendations on strategic issues while collaborating with the senior executive team. International experience, as well as experience with M&A-related due diligence and integration, is an important asset. 

Communications: An excellent oral and written communicator. Able to effectively explain and articulate strategic and operational concepts to a variety of people with varying degrees of operations and business knowledge, both internally and externally. Internally, can engage people across the organization and foster buy-in to new ideas and concepts. 

Fosters Relationships: Has developed excellent relationships with a broad range of people both within his/her organization and in outside areas. 

Character: Respected for business ethics, integrity, and common-sense approach. Balances a “hands-on” can-do attitude with a pragmatic approach to getting work done in a timely manner. Is smart, practical, hard-working, and focused on creating value for the Company’s shareholders. Rolls up his/her sleeves and does what it takes to meet objectives. Can make tough decisions when necessary. Able to work in an entrepreneurial manner.

Commitment: Someone who is “hands-on” and willing to “roll up their sleeves” as part of a high-performing head office team.

Location: Flexible but will require significant travel across the U.S. and Costa Roca. Candidates are welcome to discuss accommodations and/or relocation. 

Language: Spanish language skills are an asset but not a necessity.

Why This is a Compelling Opportunity:

• An ability to be part of a rapidly growing, market-leading company in an attractive industry with a tremendous team and culture.
• Opportunity to partner at the beginning of the investment period with a very well-respected and highly supportive investor group seeking to continue to build the Company both organically and through M&A for many years before a potentially lucrative liquidity event. 
• This is a key position in a mission-critical role that will be a key part of the senior leadership team developing Company strategy and executing to grow the business. 
• Significant wealth creation opportunities are available through equity investment and incentives. 

Compensation:

Compensation will be competitive and commensurate with experience. A package including base salary and target incentive bonus will be developed to attract the finalist candidate. The finalist candidate will be expected to invest in the Company alongside the current private equity ownership and senior management team and will also benefit by participating in the Company’s equity incentive plan, allowing for the potential for significant wealth creation.

Benefits: Medical/Dental/Vision Insurance, Short-Term Disability, Long-Term Disability, Life Insurance, Paid Vacation Days, Paid Holidays, 401k, On-site Fitness Facility.