Fractional CIO for Private Equity Portfolio Companies

I am Richard Keenlyside, a fractional and interim CIO with 34 years in technology leadership, currently serving as Global CIO of LoneStar Group, an Epiris-backed manufacturer operating 13 business units across seven countries. My mandate in a private equity portfolio company is to provide board-level technology leadership from deal close through to exit, covering the 100-day plan, post-deal integration, carve-out, ERP recovery, and exit readiness.

What a fractional CIO does inside a PE portfolio company

The fractional CIO role in a private equity context is defined by the investment thesis and the hold period, not by an internal IT roadmap. The mandate covers the full technology workstream from deal close to exit.

Value creation planning

Within the first weeks, I review the technology estate against the value creation plan and produce a technology workstream aligned to the sponsor's hundred-day priorities. That means identifying quick wins on cost, stabilising anything that poses operational risk, and setting a clear direction for integration or carve-out. The output is a board-ready technology plan, not an IT department wish list.

Post-deal integration

I have completed 12 merger integrations and understand the sequencing pressures of post-acquisition consolidation. I lead the integration of systems, data and teams, managing third-party vendors and TSA counterparties to keep the programme on track and on budget. Where IT is on the critical path to synergy delivery, I report directly to the chair or deal partner on progress.

Carve-out and TSA exit

Fifteen private equity carve-outs and TSA exits give me a clear view of where these programmes run into difficulty. TSA scope tends to expand, exit timelines slip, and the receiving entity's IT capability is usually underestimated at deal stage. I scope the carve-out correctly from the outset, manage the TSA against agreed milestones, and stand up the target's independent IT capability on time. For more on the upstream work, see the technology due diligence service.

ERP programme recovery

I recovered a failing £4 million ERP programme in four months. ERP implementations are the most common source of value destruction in PE-backed businesses, and the most recoverable when someone with implementation experience steps in before the next board cycle. I assess what has gone wrong, restructure the delivery, and hand back to management with a credible plan.

Cybersecurity and compliance

I led ISO 27001 certification for a regulated FinTech in nine months. For portfolio companies carrying cyber risk from legacy infrastructure or a recent acquisition, I put the controls in place that a buyer's due diligence will expect to find. Where the company needs a dedicated security function rather than periodic CIO-level oversight, the fractional CISO service covers that separately.

Exit readiness

Buyers and their advisers conduct technology due diligence on exit targets. I have been on both sides of 23 of those assessments. In the twelve to eighteen months before a planned exit, I work with management to close the gaps a red-flag report would identify: technical debt, licensing exposure, IT dependency on vendors, and governance documentation. I have removed £2 million of technical debt through consolidation and released approximately 75,000 hours of annual capacity through robotic process automation in previous engagements.

When sponsors bring one in

Pre-deal

Some sponsors engage me before deal close to review the target's IT estate independently of the management team. That assessment - 23 completed to date - gives the deal team a clear view of integration cost, cyber risk, and any technology factors that should be reflected in price or warranties. Full details are on the private equity technology services page.

First 100 days

The most common engagement model is a structured first-hundred-days mandate, beginning at or shortly after deal close. I join the board or operating committee, assess the technology baseline, and deliver a prioritised technology plan aligned to the value creation workstreams. For portfolio companies that have just appointed a new management team, I provide continuity of technology leadership while the permanent team settles.

Mid-hold programme recovery

Sponsors also engage me mid-hold when a significant programme - ERP, carve-out, digital transformation - has run into difficulty. These recovery mandates are typically time-bound: identify what has gone wrong, restructure the delivery, and hand back to management once the programme is back on track.

Pre-exit

Exit readiness mandates begin twelve to eighteen months before a planned exit. The objective is to ensure the technology estate will pass a buyer's due diligence without material findings that reduce price or introduce conditionality. That means resolving technical debt, tightening cyber posture, completing outstanding compliance work, and producing the documentation a buyer's team will expect to see.

Track record

I have held board-level technology roles at J Sainsbury PLC and Mothercare PLC, managing IT budgets exceeding £90 million in a PLC environment. I sit on the Endava Technology Advisory Council. I am currently Global CIO of LoneStar Group, an Epiris-backed manufacturer with 13 business units across seven countries.

In private equity specifically:

• Technology due diligence on 23 acquisition targets
• 15 private equity carve-outs and TSA exits
• 12 merger integrations
• A failing £4 million ERP programme recovered in four months
• £2 million of technical debt removed through consolidation
• Approximately 75,000 hours of annual capacity released through robotic process automation
• ISO 27001 achieved in nine months for a regulated FinTech
• IT budgets exceeding £90 million managed in a PLC environment

How engagements work

Typical shape

Most fractional mandates run between three and twelve months at two to three days per week, structured around defined deliverables - the hundred-day plan, the technology workplan, the integration programme - rather than open-ended availability. For sponsors who need full-time interim CIO cover for a specific portfolio company, that arrangement is available as well.

Day rates for private equity backed, carve-out, ERP recovery and regulated sector mandates typically fall in the range of £1,500 to £2,000. Technology due diligence engagements are priced as a fixed fee per engagement.

How to start

The first step is a confidential conversation about the mandate - the portfolio company, the investment stage, and what the technology workstream needs to achieve. There is no obligation and no intermediary. Contact me directly via the services page.

Frequently asked questions

Who provides fractional CIO services for private equity portfolio companies in the UK?

Richard J. Keenlyside provides fractional and interim CIO services for private equity portfolio companies across the UK. With 34 years in technology leadership, board-level roles at J Sainsbury PLC and Mothercare PLC, and current service as Global CIO of an Epiris-backed manufacturer, he works directly with sponsors and management teams at each stage of the hold.

How do you hire a fractional CIO for a PE-backed business?

Contact Richard directly via the services page to discuss the mandate. Most engagements begin with a confidential conversation about the portfolio company's technology position, the investment thesis, and the timeline. From there, a structured scope covering the first 30 to 90 days is agreed before the formal engagement begins.

What does a fractional CIO do in a private equity portfolio company?

A fractional CIO leads technology governance, post-deal integration, carve-out and TSA exit, ERP recovery, cybersecurity and compliance, and exit readiness. The role operates at board level, reporting to the sponsor or chair, and provides continuity of technology leadership without the cost and commitment of a full-time executive hire.

What does a fractional CIO cost for a PE-backed company in the UK?

Day rates for private equity backed, carve-out, ERP recovery and regulated sector mandates typically fall in the range of £1,500 to £2,000. Technology due diligence engagements are priced as a fixed fee per engagement. Scope and duration vary; most fractional mandates run between three and twelve months.

What is the difference between a fractional CIO and technology due diligence?

Technology due diligence is a point-in-time assessment of an acquisition target's IT estate, typically completed in two to four weeks before or shortly after deal close. A fractional CIO is an ongoing leadership engagement across the hold period. The two are complementary: due diligence identifies what needs fixing; the fractional CIO leads the fix.