Thrive’s Jay Adams Receives Boston Business Journal’s CFO of the Year Award
FOXBOROUGH, Mass. – June 2, 2021 – Thrive, a premier provider of NextGen Managed Services, announces today that Jay Adams, chief financial officer, has been named a CFO of the Year by the Boston Business Journal (BBJ). This annual award recognizes the top CFOs and their teams who deliver the most outstanding performance for their Massachusetts companies.
As a native Bay Stater, Adams has more than three decades of experience in the financial field and has served as CFO of Thrive since its first injection of private equity capital by M/C Partners in 2016. Jay currently manages Thrive’s finance, human resources, and legal departments, directly supervising sixteen employees.
During his tenure, Mr. Adams has overseen the acquisition of ten separate companies at Thrive, including two acquisitions during the COVID-19 pandemic in 2020. Additionally, he handled the due diligence and financial management processes of an early January 2021 recapitalization with Court Square Capital and M/C Partners, resulting in an industry leading valuation.
“Jay’s recognition as one of BBJ’s CFOs of the Year is well deserved and couldn’t happen to a better employee, leader and person,” said Rob Stephenson, CEO of Thrive. “Jay’s expert financial management oversight is a huge component of Thrive’s success. He has successfully helped our company navigate the COVID-19 pandemic landscape with respect to revenue, billing, and collections, without taking a PPP loan or drawing down on a bank line of credit. Also, in just four short years, Jay has overseen Thrive’s more than tripling of revenue and number of employees.”
In its 13th year, the BBJ annual CFO of the Year awards program honors the best in local finance. Adams, alongside nine other individuals in various business sizes and categories, were chosen from a pool of more than 100 nominations of leaders in the Boston business community. A panel of judges, made up of past CFO honorees, BBJ leadership, and others in the financial field, vetted the nominations and determined this year’s honorees.
Coverage of the BBJ CFOs of the Year online at www.bizjournals.com/boston/, and the winners will be honored at a special virtual program hosted by BBJ on Thursday, July 14, 2021.
For more information about Thrive, click here.
Thrive is a leading provider of NextGen managed services designed to drive business outcomes through application enablement and optimization. The company’s Thrive5 Methodology utilizes a unique combination of its Application Performance Platform and strategic services to ensure each business application takes advantage of technology that enables peak performance, scale, and the highest level of security. For more information, visit thrivenextgen.com.
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