Last week, Nordic announced a minority recapitalization with investment from Silversmith Capital Partners. In the video portion of that announcment, Nordic CEO Bruce Cerullo talked about some of the things we plan to do with that investment, but for those of you considering working for Nordic, you may wonder what this investment might mean for you. To add some color commentary, we asked Nordic's chief consulting officer, Vivek Swaminathan, to answer five questions about the investment.
1. What will Nordic be able to do that we weren't able to do before?
The immediate impact is that we are able to reward some of our earliest employees by providing an opportunity for them to take some money off the table. We have a tremendous team of people at Nordic, many of which have been working hard for years to make Nordic what it is today. We'll also be able to create a program that allows every single Nordic employee to participate in an equity program. We are firm believers in sharing ownership and working together towards our goals. In addition, the access to additional capital will allow us to make additional investments to expand our offerings for clients and to provide more opportunities for growth for our consultants and home office staff.
2. Does this mean Nordic is giving up power or control?
No, there are no changes in our leadership team, and the current shareholders maintain control. It's important to us that we remain independent and control our own destiny. We have a great group of investors and a strong team at Nordic who are aligned and share a common vision for our future. This investment will allow us to do more for our clients while maintaining our culture and the maxims that got us here.
3. What new opportunities will this bring consultants?
We will continue to expand our existing business lines, which will not only create a larger volume of opportunities for our consultants, but it will also create new and challenging roles. We continue to focus on creating solutions for our clients that involve strategy through to execution, and, as we continue to scale, we are going to have more opportunities for our consultants to put their unique skills to use in new ways. We also plan to expand our offerings, which will create opportunities for new consultants who might not have roles at Nordic today to join our team. It also means that existing consultants may have the opportunity to apply their current knowledge and experience to new areas or new problems. I'm a firm believer that the more you push your organization forward, the more opportunities there will be for people to grow and advance their careers.
4. Will this impact the type of consultant Nordic seeks to add to the team?
Absolutely. We plan to enter additional markets and will use what we’ve learned to replicate our success with clients and consultants. An example growth area is our advisory practice: we will continue to expand our offerings and will need more strategy consultants and leaders as we grow. Regardless of the services we’re talking about, we expect to have opportunities for many consultants who aren’t able to join Nordic today.
5. How is this going to impact Nordic's culture?
The short answer is, it won’t. We have a set of maxims that we live by. It forms the backbone of our company and even if everything changes around us, those core values remain. No matter what we do, our goal is to always feel small and to provide great service to all of our customers: candidates, clients, consultants, and our home office team.
Curious as to what life is like at Nordic? Check out this YouTube playlist.
Do you have other questions about the recapitalization? Give us a shout.