Regional professional services firm LBMC is beefing up its consulting business with the launch of a practice group focused on growth and innovation advice for middle-market companies.
Leading the effort at Brentwood-based LBMC is Todd McCullough, who founded Ampersand Partners in 2011 and also has been chairman of Kernel Equity, an investing firm affiliated with DevDigital, since early 2017. McCullough’s consulting career spans more than 30 years — including 10 as one of the leaders of Doblin, which Deloitte acquired in 2013 — has focused on working with Fortune 500 companies and using a a Design Thinking approach. His role at LBMC is looking to bring that growth, planning and change management expertise to smaller firms.
“These methods provide enormous potential for growth in both the product and services-based sectors,” McCullough, who also is an adjunct faculty member at Vanderbilt University’s Owen Graduate School of Management, said in a statement. “Companies that implement this design methodology nearly double their revenue growth and dramatically increase shareholder returns compared to their industry counterparts, according to the McKinsey Design Index.”
Working with McCullough as senior manager of growth and innovation is Bryan Terrill, who has 10 years of consulting experience in product and service design. Terrill previously ran BT Design Lab, which worked with Clayton Homes, Hamilton Beach and Bush’s Beans, among others, on new products and services and customer experiences. Terrill also is an adjunct professor at the University of Tennessee.
Founded in 1984, LBMC now is home to more than 750 people who work with about 10,000 clients from offices in Brentwood, Chattanooga, Knoxville and Charlotte. CEO Jeff Drummonds said adding the growth and innovation practice complements much of the work of his team’s private equity and M&A practices.
“The launch of LBMC’s Growth and Innovation practice aligns with the increased demand we are seeing from middle-market companies, particularly those at a crossroads when it comes to what’s next,” Drummonds said. “Having Strategic Consulting and Design Thinking experts Todd and Bryan at the helm will be critical to serving these clients at a high level.”