--- title: "Reference Projects: Turnaround & Exit | Francisco Baraona" description: "Reference projects in GreenTech and energy, B2B SaaS, HealthTech and industrial tech: restructuring, transformation, carve-out, financing and exit." image: https://baraona.de/hubfs/Francis0175.jpg --- [Skip to content](https://baraona.de/en/referenceprojects#main-content) English - [Español](https://baraona.de/es/proyectos) - [Français](https://baraona.de/fr/projets) - [Deutsch](https://baraona.de/de/referenzprojekte) - [English](https://baraona.de/en/referenceprojects) English [![FBA - Francisco Baraona Management](https://baraona.de/hs-fs/hubfs/2024-01%20FBA%20IM%20Logo-1.jpg?width=200&height=120&name=2024-01%20FBA%20IM%20Logo-1.jpg "FBA - Francisco Baraona Management")](https://baraona.de/en/?hsLang=en) - [Home](https://baraona.de/en/) - [Projects](https://baraona.de/en/referenceprojects) - [Profile](https://baraona.de/en/profil) - [Contact](https://baraona.de/en/kontakt) - [Call](tel:+4915122347118) # References Eight projects across GreenTech and energy, B2B SaaS, HealthTech, industrial tech, AI tech and cybersecurity. Filter by industry or challenge; click a project to see the details. Industry All GreenTech and energy B2B SaaS HealthTech Industrial tech AI tech Cybersecurity Challenge All Transformation Turnaround & restructuring Sales & go-to-market Scaling & growth Operational excellence Carve-out Buy & build Exit readiness Financing & investor relations ![Photovoltaic plant](https://baraona.de/hubfs/referenzen%20francisco%20baraona_001_-min.jpg) **GreenTech and energyB2B SaaSIndustrial tech** *Turnaround & restructuringSales & go-to-marketScaling & growthOperational excellenceCarve-outExit readiness* ## PV monitoring provider: from corporate carve-out to exit Hardware-heavy business after a carve-out from a US corporation. Goal: exit readiness within two years. +€1.6 million EBITDA at stable revenue +160% SaaS revenue (ARR) Project details → ![Energy infrastructure in a major city](https://baraona.de/hubfs/Refernzbild%20Energie.jpg) **GreenTech and energy** *TransformationTurnaround & restructuringOperational excellence* ## Municipal utility: B2B result turned around Municipal energy group in a major urban region. The B2B unit lacked reporting, risk-adjusted costing and long-term planning. Profitable growth path in B2B Value-based management established Project details → ![Tablet with a document](https://baraona.de/hubfs/referenzen%20francisco%20baraona_003-min.jpg) **B2B SaaSHealthTech** *TransformationSales & go-to-marketScaling & growthOperational excellence* ## Life sciences software: go-to-market and cloud strategy Established provider without a go-to-market for new industries, with outdated finance tools and a legacy architecture. +25% Revenue YoY, +10% above plan +22% EBITDA YoY Project details → ![Data visualization](https://baraona.de/hubfs/referenzen%20francisco%20baraona_002-min.jpg) **GreenTech and energyB2B SaaSIndustrial tech** *TransformationTurnaround & restructuringScaling & growthOperational excellenceFinancing & investor relations* ## Smart meter provider: realignment amid high cash burn Unplanned cash burn and repeated funding requests. The investors called for a COO. Project financing Debt, closed Utilization Managed as profit lever Project details → ![AI-assisted dental prosthesis design](https://baraona.de/hubfs/2026-07%20Referenzbild_AI-Dental-Health_HubSpot.png) **B2B SaaSHealthTechAI tech** *TransformationTurnaround & restructuringScaling & growthFinancing & investor relations* ## Dental AI start-up: investor-ready for the funding round Patent-pending solution at the transition to commercialization. Business plan, valuation and funding requirement were missing. Equity round Prepared Cap table, valuation Funding requirement derived Project details → ![Office with workstations](https://baraona.de/hubfs/referenzen%20francisco%20baraona_004-min.jpg) **Industrial tech** *TransformationTurnaround & restructuringScaling & growthOperational excellence* ## Office furniture manufacturer: digital production strategy Non-digitalized manufacturing without validated bills of materials and production times. +28% Utilization approx. €2 million EBITDA effect Project details → ![Software team in an office](https://baraona.de/hubfs/referenzen%20francisco%20baraona_005-min.jpg) **B2B SaaS** *TransformationSales & go-to-marketScaling & growthCarve-outExit readiness* ## SAP add-on provider: carve-out and stand-alone build-up Product business without its own organization, spun out of an SAP consultancy. Task: build an independent company and assess its continuation. Stand-alone company Finance organization, HGB financial statements Partner sales Via the SAP partner network Project details → ![Screen showing settings](https://baraona.de/hubfs/settings-265131_1280.jpg) **B2B SaaSCybersecurity** *TransformationTurnaround & restructuringSales & go-to-marketScaling & growthBuy & build* ## IT security division: building a global business unit IT security services of a testing and certification group without a common portfolio, own sales structure or growth strategy. +13% Revenue YoY +€1 million EBITDA in year one (turnaround) Project details → No project matches this combination. Reset filters ![Photovoltaic plant – reference project GreenTech transformation](https://baraona.de/hubfs/referenzen%20francisco%20baraona_001_-min.jpg "Photovoltaic plant – reference project GreenTech transformation") Project ## Transformation - GreenTech **Company Description** > The company is a specialized provider of B2B SaaS solutions for monitoring and SCADA systems in the photovoltaic sector. It develops, manufactures, and distributes high-performance data loggers, controllers, and sensors for precise data acquisition and plant control. In addition, the company operates its own control room, enabling centralized real-time monitoring and data-driven optimization of system performance. > > 3 legal entities (German HQ, US and Japanese subsidiaries) **Challenge** > The company emerged from a carve-out of a U.S.-based corporation. As part of its strategic repositioning, it is developing a sustainable business model by gradually transforming its historically hardware-driven operations into a hybrid, higher-margin SaaS model. The current challenge lies in offsetting declining hardware revenues through the expansion of digital services and recurring revenue streams. **Objective** > Within two years, the company aims to achieve full strategic, operational, and financial readiness for a successful exit (“exit readiness”).     ### Key Achievements and Strategic Milestones > **Completion of the carve-out from a U.S. corporate group:** replacement of the previous owner’s transition services and build-up of a standalone organization. > > **Turnaround:** EBITDA +€1.6 million at stable revenue; headcount grown by 129%. > > **Implementation of a new digital business model,** transitioning from a hardware-centric operation to a scalable SaaS-driven approach with recurring revenue streams. > > **Optimization of the value chain** through a 40% reduction in vertical integration, achieved by outsourcing non-core production processes and strengthening strategic supplier partnerships. > > **Growth of SaaS revenues (ARR) by 160%**, driven by targeted product innovation, improved pricing models, and expansion of customer success programs. > > **International expansion,** with market entry and the **establishment of national subsidiaries in the United States and Japan** to enhance market proximity and strengthen global competitiveness. > > **Development of a high-performing service and sales partner network,** enabling broader market coverage, improved customer support, and increased efficiency in go-to-market activities. > > **Successful exit:** sale of the company to a U.S. competitor, led through to signing; post-merger integration managed.   ![Energy infrastructure in a major city – reference project energy transformation](https://baraona.de/hubfs/Refernzbild%20Energie.jpg "Energy infrastructure in a major city – reference project energy transformation") Project ## Transformation - Energy **Company Description** > A municipal energy and infrastructure group reliably supplies residential and commercial customers in a major urban region with electricity, natural gas, drinking water, and heat. In addition to its traditional public service mandate, the company actively drives the expansion of renewable energies, the modernization of network infrastructure, and energy-related services for municipalities, industry, and households, positioning itself as a long-term partner for secure and sustainable energy and water supply.   **Challenge** > The B2B segment was to be managed for results and set up for profitable growth. This required reliable reporting with transparency on results, costs and value contribution, risk-based costing, up-to-date contract structures, and systematic capacity and long-term planning.   **Objective** > The objective is to systematically review the value and profitability of the business and to derive clear action areas for performance improvement. Building on this, a profitable growth roadmap will be developed that aligns priorities, measures, and investments to ensure sustainable, scalable, and high-return growth.   ### Key Achievements and Strategic Milestones > **1. Engagement: Transformation Manager B2B** > > Acted as a key driver and catalyst for transformation in the B2B sales and operations organization, with a strong focus on improving profitability and professionalizing management and control instruments. Based on this, conducted a comprehensive value creation analysis of the B2B business to identify profit levers, efficiency potentials, and structural risks. > > Developed and implemented a corresponding action plan, including the introduction of a structured sales risk management framework, the development of a new risk-adjusted costing model as the basis for pricing and portfolio management, the creation of new contract templates to standardize and reduce legal and commercial risks, as well as the implementation of an integrated reporting system with clear KPIs and a strategic capacity planning approach based on typical output metrics. > > Additionally implemented a risk-adjusted sales and procurement forecasting process to improve forecast quality in energy procurement, optimized key core processes (in particular offer approvals), and designed and rolled out a new, needs-based service and account management model for customer and segment clusters. These measures were complemented by the design and implementation of a new energy procurement strategy to enhance margin, stability, and manageability of the business. > > Presented the transformation concept to the executive management, outlining strategic measures, financial impact, and resource requirements, and obtained approval and sign-off for implementation. Achieved a recurring annual EBT effect. > > **2. Engagement: Transformation Manager Sales & Operations B2B and B2C** > > Assumed responsibility for the design and implementation of a **scenario-based business plan** through 2030, including **integrated investment and workforce planning.** On this basis, carried out a comprehensive **value creation analysis** of the area of responsibility and derived an action plan for sustainable performance improvement with clearly defined target states and milestones up to 2030. > > Designed and **implemented Power BI** as the central **strategic planning and management tool** to establish a consistently data-driven management approach. In addition, developed and introduced **a cascading performance management framework**, including **customer- and segment-level contribution margin reporting** with transparently defined allocation keys to enable differentiated profit steering. > > Achieved a **recurring annual EBT effect.** > > **Combined impact of both engagements: recurring annual EBT effects.** The B2B result improved significantly; the B2C business added a further earnings effect.   ![Tablet with a document – reference project SaaS transformation](https://baraona.de/hubfs/referenzen%20francisco%20baraona_003-min.jpg "Tablet with a document – reference project SaaS transformation") Project ## Transformation - SaaS **Company Description** > The company offers a specialized B2B software solution for professional proofreading within the life sciences sector. > Markets: Europe, USA, India > > 2 legal entities (German HQ, Canadian subsidiary) **Challenge** > A stable and valuable company with strong market presence and brand reputation, yet lacking innovation and a clear go-to-market strategy for new industries. The financial structures and tools are outdated, with no modern reporting or performance indicator system in place. The software technology relies on legacy architectures and lacks a defined SaaS or cloud strategy, significantly limiting future scalability and competitiveness. Furthermore, contracts as well as sales and marketing processes are outdated, not aligned with digital, data-driven business models or international growth strategies. **Objective** > To build a scalable market model and professionalize the marketing and sales strategy, including all supporting processes. In addition, the company aims to develop a future-ready cloud software platform, with a strong focus on modularization and the implementation of professional, standardized APIs to ensure scalability, integration capability, and long-term competitiveness.     ### Key Achievements and Strategic Milestones > Overall responsibility for Marketing, Sales, Operations, Customer Support, HR, and Finance. > > Development and implementation of a **strategic growth roadmap** to enter new markets and customer segments. > > Introduction of modern **B2B SaaS marketing and sales processes** and **implementation of an integrated CRM system.** > > Design and rollout of **new international SaaS offering templates** based on a **revised terms and conditions (T&C) structure**. > > **Establishment of a Canadian subsidiary** to strengthen international market presence and operational flexibility. > > Development of a **SaaS cloud product strategy** focusing on modularization, scalability, and long-term technological sustainability. > > Optimization of the global partner network to **enhance service quality, support efficiency, and customer satisfaction**. > > Restructuring of operational departments, from marketing to finance, to **improve efficiency and clarify responsibilities**. > > **Weighted sales pipeline growth: +84%** (ARR Year-on-Year). > > **Expansion of headcount** in marketing, sales, and development: +33% (YoY). > > **Revenue: +25% YoY / +10% above plan.** > > **EBITDA: +22% YoY.**   ![Data visualization – reference project restructuring GreenTech and SaaS](https://baraona.de/hubfs/referenzen%20francisco%20baraona_002-min.jpg "Data visualization – reference project restructuring GreenTech and SaaS") Project ## Restructuring - GreenTech and SaaS **Company Description** > The company is a B2B and B2C SaaS provider and smart meter manufacturer, specializing in digital energy management and intelligent metering infrastructure. As a certified metering point operator (MSB), it delivers comprehensive solutions for meter data collection, data management, and automated billing. > In the tenant electricity (Mieterstrom) segment, the company connects renewable energy generation, consumption, and digital services to create efficient and transparent business models, positioning itself as a technology partner for the digital transformation of decentralized energy markets. **Challenge** > A very high and unplanned cash burn rate led to repeated requests for investor financing. As a result, investor confidence in the company’s management eroded, prompting the appointment of a COO to review and realign the existing business plan and to develop a sound, investor-ready strategic roadmap. **Objective** > Development of a sound business and financial plan with a clear strategic focus, a defined implementation and development roadmap, and concrete measures to ensure sustainable performance improvement and long-term value creation.     ### Key Achievements and Strategic Milestones > Implementation of **modern digital systems** and **financial management foundations**: Deployment of Microsoft 365 and **Power BI** to establish an integrated, data-driven work and decision-making environment. Development of a **new reporting and controlling framework** enabling transparent, KPI-based corporate management. > > Based on the **newly generated reporting data**, a **recalculation of product costing** was conducted to realistically and market-orientedly reflect cost structures, margins, and pricing strategies. In parallel, a **precise assessment of financing needs** was carried out to establish a reliable foundation for investment and liquidity planning. > > As part of this process, **financing discussions with investors** and banks were initiated, and a **project financing (debt)** for pre-financing major customer projects on the basis of signed customer contracts was designed and closed. These measures laid the groundwork for a sustainable financing framework that ensures future growth and the long-term execution of the corporate strategy.   ![AI-assisted dental prosthesis design – reference project digital health](https://baraona.de/hs-fs/hubfs/2026-07%20Referenzbild_AI-Dental-Health_HubSpot.png?width=2000&height=625&name=2026-07%20Referenzbild_AI-Dental-Health_HubSpot.png "AI-assisted dental prosthesis design – reference project digital health") Project ## Transformation - Digital Health-AI **Company Description** > The company is a German HealthTech start-up that fully automates the design of dental prosthetics with generative AI: from a single intraoral scan, the cloud-based platform creates patient-specific, anatomically precise designs — from virtual tooth set-ups and provisionals to crowns and bridges — delivered as open, production-ready files for milling and 3D printing. The solution runs entirely in the browser without additional CAD software, integrates with common scanner and CAD/CAM systems, and replaces manual work steps with a fully digital workflow. > > Customers include dental laboratories, dental practices and group-practice structures, as well as implant specialists. > > 1 legal entity (German HQ) · Core markets: DACH, Europe, USA **Challenge** > The company has a technologically leading, patent-pending solution but stands at the transition from product development to commercialization — in a highly fragmented dental market that has traditionally been slow to adopt new digital systems. The next growth phase requires fresh capital. What is missing: a sound business plan with validated assumptions, a defensible company valuation, and a precisely derived financing requirement as the basis for professional investor discussions. **Objective** > Building an investor-ready foundation for the capital raise: a sound business and financial plan, a well-founded company valuation, and a precisely determined financing requirement — as the foundation for the company's next growth phase.   ### Key Achievements and Strategic Milestones > **Development of an integrated, scenario-based business plan**, implemented in a fully integrated financial model with P&L, liquidity, and scenario planning — serving as the central steering and negotiation instrument. > > **Embedding sound unit economics in the business plan** — contribution margin per case, customer acquisition cost, and customer lifetime value make the profitability of the usage-based revenue model transparent and quantitatively underpin the scaling logic. > > **Introduction of a new pricing model** with a channel-differentiated revenue plan for direct and partner sales. > > **Preparation of a well-founded company valuation** based on standard market methods — a reliable and negotiable anchor for investor discussions. > > **Precise determination of the financing requirement**, including integrated liquidity planning, use of funds, and milestone logic — the basis for the size, structure, and timing of the capital raise. > > **Creation of the investment memorandum and a strategy deck** — equity story, market and competitive positioning, business model, and growth roadmap for a professional investor approach.     ![Office with workstations – reference project manufacturing transformation](https://baraona.de/hubfs/referenzen%20francisco%20baraona_004-min.jpg "Office with workstations – reference project manufacturing transformation") Project ## Transformation - Manufacturing **Company Description** > The company is a fully integrated manufacturer of high-quality office furniture, with a focus on ergonomic, height-adjustable workstation solutions and complete office concepts. As a vertically integrated provider, it covers the entire value chain from design, engineering, and production through to logistics, assembly, and after-sales services, delivering client-specific workplace and interior solutions for national and international customers.   **Challenge** > An outdated, non-digitalized production environment without a sufficiently validated data basis for bills of materials, including production times, leads to inefficient and non-transparent production control and adversely affects planning reliability as well as cost and quality management.   **Objective** > Improvement of profitability through the development and implementation of a new production strategy.   ### Key Achievements and Strategic Milestones > **Employee training**: Introduction of structured training programs at all levels to qualify staff for new processes, digital tools, and modern manufacturing methods. > > **Production organization and planning:** Development of a systematic production capacity and scheduling framework, including the implementation of a REFA-based time management system and up-to-date bills of materials (BoM) with time values to enable reliable product costing and profitability analysis. > > **Process and digitalization initiative** in manufacturing: Introduction of Kanban, barcodes, scanners, and computer workstations on the shop floor, as well as the implementation of an end-to-end 3D model chain from design through production to assembly, reducing assembly times and increasing process reliability. > > **Working time and shift models**: Implementation of optimized shift models to improve utilization of machinery and resources. > > **Digital production strategy and impact**: Design and implementation of an end-to-end digital production strategy, **resulting in a 28% increase in capacity utilization and an EBITDA effect of approximately €2 million.**   ![Software team in an office – reference project B2B SaaS carve-out](https://baraona.de/hubfs/referenzen%20francisco%20baraona_005-min.jpg "Software team in an office – reference project B2B SaaS carve-out") Project ## Carve-out - B2B SaaS **Company Description** > The company develops and sells add-ons for SAP CRM and SAP Customer Experience (CX). It was created by carving out the product business of an SAP consultancy and has operated independently since June 2019. > > Shareholders: a private equity investor and the SAP consultancy (strategic investor) **Challenge** > The product business had no organization of its own. It had to be separated from the parent company, set up as a standalone company and assessed for its ability to continue on its own. **Objective** > Carve-out and stand-alone build-up of an independent B2B SaaS company, plus a sound basis for the shareholders’ decisions.     ### Key Achievements and Strategic Milestones > **Founding CEO** of the carved-out company; led the carve-out and stand-alone build-up. > > **Standalone finance organization:** HGB financial statements and contract framework set up. > > **Partner and channel sales** built via the SAP partner network. > > **Marketing responsibility:** performance and content online marketing (SEO, advertising) and international trade fairs. ![Screen showing settings – reference project cybersecurity business unit](https://baraona.de/hubfs/settings-265131_1280.jpeg "Screen showing settings – reference project cybersecurity business unit") Project ## Business unit - Cybersecurity **Company Description** > Enterprise IT security business unit (certification, IT security and critical infrastructure studies) of a foundation-owned TIC group. Teams in Germany, India, Singapore, the USA, the UK and Canada. **Challenge** > The existing TIC services in IT security were not bundled into a business of their own. There was no globally uniform service portfolio, no dedicated sales structure and no strategy for organic growth. **Objective** > Build-up of a new global Enterprise IT Security business unit with an organic sales strategy, digitalization of certification and buy-and-build.     ### Key Achievements and Strategic Milestones > **Business unit established:** new global business unit built on existing TIC services; organic sales strategy developed and implemented. > > **Turnaround in the first year:** EBITDA of the business unit improved by €1 million. > > **Revenue growth:** +13% YoY. > > **Global M&A buy-and-build strategy** implemented. > > **Operations led,** including business development and tier-1 account management; go-to-market for the USA, Asia and the UK prepared. > > **Marketing responsibility:** performance and content online marketing (SEO, advertising) and international trade fairs. ## Contact Use the following link to book a non-binding initial meeting. [Book a meeting](https://baraona.de/meetings/fbaraona?hsLang=en) ![Francisco Baraona, CEO, COO and CFO](https://baraona.de/hs-fs/hubfs/Francis0175.jpg?width=2000&height=1333&name=Francis0175.jpg "Francisco Baraona, CEO, COO and CFO") - [Privacy Policy](https://baraona.de/en/privacy-policy) - [Imprint](https://baraona.de/en/impressum) COPYRIGHT © 2024–2026 FBA - FRANCISCO BARAONA MANAGEMENT – ALL RIGHTS RESERVED [LinkedIn profile](https://www.linkedin.com/in/francisco-jos%C3%A9-baraona-1910839/) [Book a Meeting](https://baraona.de/meetings/fbaraona?hsLang=en) ```json { "@context" : "https://schema.org", "@id" : "https://baraona.de/#person", "@type" : "Person", "address" : { "@type" : "PostalAddress", "addressCountry" : "DE", "addressLocality" : "Planegg", "addressRegion" : "Bayern" }, "alternateName" : "Francisco José Baraona", "award" : "Top Interim 2025 (BVMID)", "description" : "Experienced C-level executive and value architect focused on profitable growth, transformation and M&A in GreenTech and energy, B2B SaaS, HealthTech and industrial tech – available on an interim, fractional, interim-to-permanent or permanent basis.", "image" : "https://baraona.de/hubfs/Francis0175.jpg", "jobTitle" : "Executive Manager (CEO, COO, CFO) – Interim, Fractional & Permanent", "knowsAbout" : [ "Executive Management", "Interim Management", "Fractional Executive", "Interim-to-Permanent", "Value Creation", "M&A", "Private Equity", "GreenTech", "Energy", "B2B SaaS", "HealthTech", "Cybersecurity", "Industrial Tech", "Restructuring", "Post Merger Integration", "Commercial Due Diligence" ], "knowsLanguage" : [ "de", "en", "es" ], "memberOf" : { "@type" : "Organization", "name" : "DDIM – Dachgesellschaft Deutsches Interim Management e. 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