New division grows from $0-$60M in 3 years
maxIT, a healthcare IT staffing company, sought to diversify its offerings and enter the management consulting arena. SalesSparx developed a strategy and build a team capable of expanding into management consulting. Within three years, the management consulting division scaled from $0 to $60 million and ranked #1 in KLAS.
Challenges
A private equity firm had taken a controlling interest maxIT and was interested in substantially increasing its valuation. The PE firm proposed that this healthcare IT staffing company diversify its offerings and enter the management consulting arena.
maxIT’s primary focus was hiring skilled hospital staff and placing them in other health systems to provide specialized services. The transition to management consulting was a considerable leap, as the company had no existing division or expertise in this area.
Solution
The company enlisted SalesSparx to develop a strategy and build a team capable of expanding into management consulting. The SalesSparx and maxIT’s team set an aggressive goal to grow the new management consulting division from $0 to $60 million in three years while enhancing the overall healthcare system. The approach they took involved leveraging the already successful staffing side of the business to generate leads and provide ideas for high-value solutions.
Leveraging Existing Business for Growth: The SalesSparx team implemented a strategy to use the company’s successful staffing business to generate leads for the new solutions sector. This approach effectively bridged the gap between the existing staffing services and the newly established management consulting division.
Benefits
The company successfully became both a staffing firm and a management consulting firm, achieving remarkable growth and industry recognition.
- The management consulting division scaled from $0 to $60 million in three years. This growth significantly contributed to the overall company’s expansion from $50 million to $250 million.
- It ranked number one in KLAS and voted the best place to work. As a result of the growth and success facilitated by SalesSparx, the company received high industry recognition. It ranked number one in KLAS, an annual report highlighting exceptional software and services companies, and was voted the best place to work in its industry segment.
- Sold to a Fortune 100 company with record valuation. The strategies and growth achieved with SalesSparx’s assistance led to the company being sold to a Fortune 100 company. This sale was at the largest valuation for any professional services company in their space at the time, marking a significant achievement and return on investment.
About maxIT
maxIT was acquired by Ledios. Leidos is a Fortune 500® innovation company rapidly addressing the world’s most vexing challenges in national security and health. Our 47,000 employees support vital missions for government and commercial customers. Headquartered in Reston, Virginia, Leidos reported annual revenues of approximately $14.4 billion for the fiscal year ended December 30, 2022.
