Stratis Group LLC — Finance Operating Partner to Private Equity

The Thesis

Three Roles. One Person. Fraction of the Cost.

Role One

PE Director-Level Execution

Deal execution from the operating side. Lender outreach, process management, sequencing conversations, keeping both sides moving toward close with the discipline of someone who has lived inside a PE-backed company.

Market cost: placement agent 1–2% of proceeds, or internal PE Director-level opportunity cost

Role Two

Operating CFO

Business fluency no external advisor can replicate. Answers the questions lenders actually ask — covenant headroom, cash flow visibility, management credibility, working capital dynamics — because I have run these financials from the inside.

Market cost: not available from any placement agent or credit advisory firm. This role does not exist externally.

Role Three

Credit Advisor

Structuring knowledge earned by executing. What the lender market will bear, how to structure the facility, which covenants are negotiable, where pricing should land — learned by leading the operating side of a financing through to close.

Market cost: credit advisory firms typically charge ~1.5% of proceeds

Across multiple PE-backed portfolio companies, Jonathan has led the operating company's side of all three of these functions — most notably on a $60M+ syndicated senior credit facility, including a revolver, working alongside the deal team. A credit advisory firm handled structuring support at market rates. Jonathan ran point on lender conversations as the operating CFO. The deal closed. This is not a theoretical combination of roles. It has been executed at institutional scale, across multiple engagements.

Track Record

Capital Raise Experience

★ Flagship Engagement

$60M+

Syndicated senior credit facility plus revolver, at a PE-backed portfolio company.

Led the operating company's side of the engagement alongside the deal team — managing primary and revolver lender relationships, running point on lender conversations as operating CFO, and navigating material late-stage complexity through to close.

Supporting Credential

$25M+

Equity capital raised at a PE-backed software company.

Demonstrates capability across the capital structure — not debt alone — including the investor-facing work of positioning a business for a growth round.

Capital Raise Breadth

$5M+

Combined debt and equity structure at an earlier-stage company.

Breadth across capital structure types and company stages, from early-stage growth financing through institutional middle-market credit.

Service Lines

How Stratis Group Engages

Primary — Core Offering

CFO-Led Financings on Retainer

Full three-role financing execution for PE-backed portfolio companies. Learn the business, become fluent in the financials, run all lender conversations as an extension of the sponsor team. Priced as a retainer plus a success fee at close — a fraction of placement agent and credit advisor economics, and structured so the incentive to get the deal done sits on both sides of the table. The CEO and operating team stay focused on running the business — raising capital is a significant time sink that pulls leadership away from operations at the worst possible moment. Stratis Group removes that burden entirely.

Retainer + success fee · typical engagement 4–6 months

Primary — Core Offering

PE Sponsor Retained Advisory

Ongoing judgment-on-demand for PE managing directors. The person who has been the CFO inside a portfolio company, managed the sponsor relationship from the operating side, and can now translate what is actually happening in the portco. Not execution — judgment.

Monthly retainer · call when the decision matters

Secondary

Founder Pre-Transaction Advisory

For founders preparing for a PE transaction or capital event. Provides the inside view of what the PE firm is actually evaluating, what the first 24 months post-close look like, and how to avoid late-game surprises that restructure deal dynamics at the worst possible moment.

Monthly retainer · project engagements available

Secondary

Interim CFO

For PE-backed portfolio companies between CFO hires or in transition. Provides institutional-grade financial leadership — reporting, lender relationships, covenant management, FP&A — while the sponsor conducts a permanent search.

Defined engagement period, typically 3–6 months

Secondary

CEO / Founder Strategic Advisory

For operating CEOs and founders who need a senior financial voice in the room — board preparation, investor narrative, capital structure decisions, covenant management — without the cost or commitment of a full-time CFO hire.

Monthly retainer · flexible scope

Engagement Model

Retainer, Not Placement Economics

Engagements are structured as a monthly retainer plus a success fee at a small fraction of placement agent economics. The retainer funds the work; the success fee keeps the incentive aligned with getting the deal closed on the right terms. Scope, duration and terms are set at the outset and sized to the mandate — so the economics are materially different from a traditional placement agent or credit advisory engagement.

Terms discussed directly

From Experience

Three Observations From the Operating Seat

The CFO as First Line of VCP Defense

The portfolio company CFO is the person who either closes the Day One gap or does not. Every other value creation workstream runs through the quality of financial leadership that was in place from the beginning. Having a Finance Operating Partner embedded before Day One is no longer a nice-to-have — it is competitive infrastructure.

Lender Credibility Starts With Financial Fluency

Covenant compliance, board reporting cadence, and credit committee responsiveness all trace back to whether the CFO function was ready on Day One. Lenders notice — in the first compliance certificate, in the first management call, in the first 13-week cash flow request. Preparation is the credential.

Board Reporting as a Value Signal

Sponsors who receive clean, timely, decision-grade reporting from portfolio companies move faster on add-ons, refinancings, and exits. The board package is not a formality — it is the instrument through which the sponsor assesses management capability and decides whether to accelerate or wait. Quality of reporting shapes the entire hold period.

The Principal

Jonathan Purdy

Jonathan Purdy
Principal · Stratis Group LLC

Jon Purdy has spent the last six years as a chief financial officer inside private equity-backed software companies — running the financials, the financings, and the value creation programs that determine what a sponsor’s return actually looks like.

Most recently CFO of Consulting Solutions, and before that CFO of ToolsGroup, an Accel-KKR portfolio company, where he led a return to profitability, integrated multiple acquisitions, implemented NetSuite ERP across finance, CRM and professional services, and led a finance organization of fourteen across the United States, Europe, South Africa and Latin America. Earlier, as CFO of Touchplan, he raised growth capital and built the reporting foundation for an early-stage SaaS business.

He has led operating-company financings — senior facilities and revolvers — working directly with lenders and credit advisors through to close, and has sat on both sides of sponsor reporting, covenant compliance and board cadence.

Before private equity: division CFO at Fiserv, senior finance director roles at Oracle across four global business units, and finance leadership at Sun Microsystems. Before that, a commissioned officer and pilot in the United States Navy.

FocusPE-backed software & technology

EducationMBA Finance, Golden Gate University · BA Economics, University of Wisconsin–Madison

ServiceU.S. Navy — Commissioned Officer and Pilot

BasedAtlanta, Georgia

End-to-End Activity Map

A Financing — Traditional vs. With Stratis Group

Who does what, across every phase — and where an embedded operating CFO changes the work.

STRATIS OWNS

STRATIS SUPPORTS / SHARES

ADVISOR RETAINS

Phase 1 · Mandate Preparation & Business AssessmentWeeks 1–2
Role	Activity	Traditional Process	With Stratis Group
STRATIS	Business immersion — learn the company from inside: P&L, cash flow, covenant structure, customer concentration, key drivers	— Not performed by external advisor. MD/Director piece together from board materials.	✓ STRATIS OWNS Full operating CFO-level immersion before any lender conversation.
PE MD	Strategic mandate — size, structure, target leverage, timing	✓ MD sets mandate with credit advisor input	✓ MD sets mandate with Stratis input — faster, because Stratis already knows the business
PE DIRECTOR	Financial model review — EBITDA, working capital, capex, leverage capacity, downside scenarios	✓ Director leads; credit advisor reviews for market calibration	✓ STRATIS SUPPORTS Reviews from the operating CFO perspective — catches issues the deal team may not surface
CREDIT ADVISOR	Business overview and investment highlights memo	✓ Credit advisor drafts; MD/Dir review and approve	✓ STRATIS OWNS Drafted from inside the business — an insider's account, not an external summary
OPCO CFO	Data room preparation — statements, KPIs, customer data, contracts	✓ CFO and finance team own; advisor provides a checklist	✓ STRATIS SUPPORTS Embedded in the build — flags gaps lenders will find before they find them

Phase 2 · Lender Market Assessment & TargetingWeeks 2–3
Role	Activity	Traditional Process	With Stratis Group
CREDIT ADVISOR	Lender universe mapping — banks, direct lenders, BDCs by size, sector exposure, risk appetite	✓ Credit advisor primary; relies on proprietary relationships	✓ STRATIS OWNS Mapped from current market data and lender league tables — no relationship dependency
CREDIT ADVISOR	Preliminary structure — senior vs. unitranche, pricing guidance, covenant framework	✓ Credit advisor owns; the primary value-add justifying the fee	✓ STRATIS OWNS Structuring from the operating CFO perspective — what the company can actually covenant to, not what the market will bear in theory
STRATIS	Lender intelligence — which lenders are risk-on vs. risk-off for this sector right now	— Rarely done at this granularity. Relationship intel, but not systematic current market data.	✓ STRATIS OWNS Current sector-exposure scan. A first-call list built before outreach begins.
PE MD	Target list approval; warming key relationships	✓ MD approves advisor's list; may make intro calls	✓ MD approves Stratis list; intro calls supported by briefing notes

Phase 3 · Marketing Materials & Lender PresentationWeeks 2–4
Role	Activity	Traditional Process	With Stratis Group
CREDIT ADVISOR	Lender presentation / CIM — business overview, financial analysis, market position, management	✓ Advisor is primary author; multiple review rounds with MD, CEO and CFO	✓ STRATIS OWNS Drafted from inside the business — faster iteration, fewer review cycles. Advisor role: technical structuring sections.
CREDIT ADVISOR	Lender model — adjusted EBITDA bridge, covenant case, downside case, sensitivities	✓ Advisor rebuilds from the management model; often a significant rework	✓ STRATIS SHARES Works directly from the CFO model — no translation layer. Advisor provides market calibration.
OPCO CFO	Financial data provision and validation	✓ Significant time burden; advisor questions route through the MD layer	✓ STRATIS SUPPORTS Direct interface — questions come from someone who already understands the model
LEGAL	NDAs with prospective lenders before distribution	✓ Legal handles; advisor manages distribution and tracking	✓ STRATIS SUPPORTS Manages NDA process and tracking; legal focuses on documents

Phase 4 · Lender Outreach & Management PresentationsWeeks 3–6
Role	Activity	Traditional Process	With Stratis Group
CREDIT ADVISOR	Initial lender contact and distribution; scheduling management presentations	✓ Advisor primary, via relationship network; the portfolio company has no visibility into those conversations	✓ STRATIS OWNS Outreach run with full transparency to the MD. Every lender conversation briefed in advance.
STRATIS	Per-lender preparation briefings based on that lender's sector exposure, appetite and recent activity	— Rarely performed at this granularity. Generic preparation is the norm.	✓ STRATIS OWNS Specific pre-meeting intelligence on each lender rather than generic talking points.
STRATIS	Lender conversations — attend presentations, run point on financial questions	— The advisor attends but is external. Lenders know they are speaking to an advisor, not the company.	✓ STRATIS OWNS Attends as the operating CFO equivalent — functionally the company, not a representative of it.
OPCO CEO	Management presentations — strategy, market position, track record	✓ CEO presents; often uncomfortable with lender-specific financial questions	✓ CEO presents strategy; Stratis handles financial and structural Q&A in real time. Clean division of responsibility.

Phase 5 · Term Sheet Negotiation & Lender SelectionWeeks 5–8
Role	Activity	Traditional Process	With Stratis Group
CREDIT ADVISOR	Term sheet analysis — pricing, covenants, fees, prepayment, MFN, accordion	✓ Advisor produces the comparison matrix and recommends a preferred lender	✓ STRATIS OWNS Comparison built with direct knowledge of which covenants are actually manageable on the real trajectory
STRATIS	Covenant headroom analysis — model each package against actual projected performance	— Not systematically performed externally. The portfolio CFO does it informally, without lender market context.	✓ STRATIS OWNS Each covenant package stress-tested against the real operating model.
CREDIT ADVISOR	Lender negotiation — pricing, covenant flexibility, fee structure	✓ Advisor leads; MD approves key positions; portfolio company has limited visibility	✓ STRATIS SHARES Leads operating-side terms — covenants, reporting, restricted payments. Advisor leads technical structuring.
OPCO CFO	Treasury impact — effect of the new structure on banking relationships, cash management, reporting	✓ CFO handles independently; often disconnected from the advisor process	✓ STRATIS SHARES No gap between deal structure and operational reality

Phase 6 · Due Diligence & Credit ApprovalWeeks 6–10
Role	Activity	Traditional Process	With Stratis Group
STRATIS	Diligence management — track all lender requests, coordinate responses, prevent gaps that stall credit approval	— The advisor tracks requests but lacks inside access to pull answers quickly. The portfolio team bears most of the burden.	✓ STRATIS OWNS The full tracker, run from inside. Questions answered from the source, not relayed through layers.
STRATIS	Late-surprise prevention — surface proactively what lenders will find anyway, and frame it first	— Not systematic. Material issues often surface late and create deal risk.	✓ STRATIS OWNS Knowing which questions pull issues out early is the difference between a clean close and a crisis at the table.
OPCO CFO	Financial diligence responses — detailed questions, supporting schedules, reconciliations	✓ CFO owns; an enormous time burden through the diligence period	✓ STRATIS SUPPORTS Absorbs the first-pass response layer. The CFO reviews and confirms rather than drafting from scratch.
CREDIT ADVISOR	Credit committee preparation — the lender's internal memo and context	✓ Advisor manages the lender relationship through approval; a critical value-add	ADVISOR RETAINS — Credit committee interface is a genuine relationship function requiring established credibility with the lender's internal team.

Phase 7 · Documentation, Legal Close & FundingWeeks 8–12
Role	Activity	Traditional Process	With Stratis Group
CREDIT ADVISOR	Credit agreement technical review — definitions, covenant calculations, compliance certificate forms	✓ Advisor leads the technical review	ADVISOR RETAINS — Technical documentation requires deep legal and structuring expertise. Stratis reviews covenant calculation methodology from the operating perspective.
STRATIS	Covenant definition negotiation — EBITDA add-backs, permitted payments, basket sizes	— Typically led externally with limited operating input, producing definitions that are difficult to comply with in practice	✓ STRATIS OWNS Negotiated with direct knowledge of how the business actually operates.
OPCO CFO	Conditions precedent — audited accounts, insurance, officer certificates, legal opinions	✓ CFO and finance team own; high time burden at close	✓ STRATIS SUPPORTS Tracks the CP checklist and coordinates delivery. The CFO signs and confirms rather than managing the process.
CREDIT ADVISOR	Syndication, where applicable	✓ Advisor owns if the deal is syndicated	ADVISOR RETAINS — Syndication is a genuine relationship and market-making function.

Phase 8 · Post-Close — Lender Relationship & Covenant ManagementOngoing
Role	Activity	Traditional Process	With Stratis Group
STRATIS	Compliance certificates — periodic covenant compliance with supporting calculations	— The advisor engagement ends at close. The CFO prepares certificates with limited market context on what lenders expect to see.	✓ STRATIS OWNS Prepared with full operating knowledge, where retained on ongoing advisory. No gap between business reality and covenant reporting.
STRATIS	Covenant headroom monitoring — leverage, coverage and maintenance tests against actual and projected performance	— Not performed post-close. Tracked informally, usually with no early warning system.	✓ STRATIS OWNS Built into the reporting cadence. Early warning before it becomes a lender conversation.
OPCO CFO	Lender reporting per the credit agreement	✓ CFO owns; often unclear exactly what is required and in what format	✓ STRATIS SUPPORTS Establishes the reporting package at close; the CFO maintains it. No ambiguity about what is required or when.

~55%

of traditional credit advisor activities displaced to Stratis Group

~45%

genuinely retained by the advisor — syndication, credit committee, technical documents

phases run end to end, so the CFO and management team stay on the operating plan

Three Roles. One Person. Fraction of the Cost.

Capital Raise Experience

How Stratis Group Engages

Three Observations From the Operating Seat

Jonathan Purdy

What I’m reading, and what it means inside a portco

A Financing — Traditional vs. With Stratis Group

Start with a conversation.