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CEO, M&R Marking Systems

Verbatim client survey comments from Peter V. Del Presto, Partner of PNC Equity Management, regarding the CEO search for portfolio company M&R Marking Systems. Mr. Wellman’s placement was Lou D'Amaro.

"I very infrequently use search consultants. I've been in this business 17 years and have only utilized search consultants less than half a dozen times. This is because we prefer to buy companies that are well managed. When we need execs, we first go to business execs we know who work with portfolio companies. When we decided to use a search consultant for this search, I inquired, by e-mail, whom our competitors used. I then interviewed 4 search consultants who were recommended to me and, after extensive reference checking, I chose Mike. Most of the prior times I used a search firm, I was unhappy with the caliber of candidates presented to me.

"Thanks to Mike, we ended up with a very good guy for the CEO of this portfolio company. Mike was very thorough. The first few candidates we saw were not familiar with our company and its markets. This new CEO had to have instant credibility with the rest of the management team because there was an existing internal candidate. Mike quickly re-focused his efforts and brought to our attention 4 new candidates - all with solid relevant backgrounds - including Lou D'Amaro, who became the placement. Mike had to convince Lou why this position was right for him because he had been GM of a $400mm business, while ours was only $30mm. He was also earning more than we initially wanted to pay. But in the end we arrived at a comp package satisfactory to both sides.

"Mike made the whole search process painless - and thus made me re-think my attitude towards search consultants! Needless to say, I would definitely use Mike again for any additional search needs we might have."

Verbatim placement survey comments from Lou D'Amaro, the new CEO of M&R Marking Systems:

"I assumed my new position in early June. I have had long-term employment stints with just 2-3 companies in the past, so my dealings with search consultants have been mainly one of referring candidates to them - until Mike contacted me. I was not working when Mike first called me, as I had left my prior company during a change of control. Since I was being paid through 2004, I was not at all actively looking to join another company. So my first reaction to Mike's call was that I was not interested and he couldn't afford me. But Mike persisted, suggesting we meet. We did, and I found him to be very casual, informal, non-threatening and persuasive! He persuaded me to go the next step and meet the client, Peter Del Presto, who then asked me to meet the management team. Only then did Mike and I discuss comp, and when he told me not to worry about what I had been earning, I became very interested in this opportunity.

"I would give Mike very high marks overall for his role in this search process. Mike wears well. I understood that he was working for his client; but he also made me feel he had my interests at heart as well. He's like a good real estate agent who, while representing the seller, also helps the buyer. He offered very good advice throughout the process, and I would definitely reach for him if I had search needs of my own going forward."

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