Podcast appearances and mentions of alex rawlings

Guest: Greg Moran – Multi-exit founder, investor, and Managing Partner at Evergreen Mountain Equity Partners Host: Alex Rawlings, Founder of Raw Selection⏱️ Timestamps & Topics00:00 – Introduction to Greg Moran Alex welcomes Greg Moran, a multi-exit founder turned investor, and Managing Partner at Evergreen Mountain Equity Partners. Greg introduces his background in scaling businesses, raising $500M+ in capital, and his current focus on future-of-work technologies.01:29 – Biggest Mistakes in Private Equity & Venture Greg highlights two major missteps:Private Equity: Disrespecting existing leadership and stripping company culture.Venture Capital: Failing to deeply understand a founder's motivations under pressure.03:51 – Behavioral Due Diligence: The Adaptive Innovator Greg explains how Evergreen Mountain uses a proprietary founder archetype model based on studying 100+ founders with multiple 9-figure exits.

Episode Summary: In this insightful episode, Alex Rawlings is joined by Brett Hickey, the CEO and founder of Star Mountain Capital. Brett shares his unique journey from humble beginnings in Northwestern Canada to leading a multi-billion-dollar asset management firm in the U.S. With deep reflections on leadership, value-based investing, building collaborative ecosystems, and what truly drives sustainable success in private markets, this is a masterclass in private equity thinking.Brett also discusses the strategic opportunities in the U.S. lower middle market, the implications of aging demographics, his risk-aligned investment strategy, and the power of culture in scaling a firm. If you're looking to understand how to build a high-performing investment organization from the ground up—and what books, frameworks, and philosophies support that—this episode is essential listening.⏱️ Episode Highlights & Time Stamps:00:00 – Welcome and Introduction to Brett Hickey 00:41 – Overview of Star Mountain Capital and its focus on U.S. lower-middle market private credit, secondaries, and private equity 01:12 – Key mistake PE firms make: passive asset management vs. active value creation 03:08 – Aging demographics as a key investment opportunity 04:05 – Valuation arbitrage in lower middle market businesses 05:05 – Reflections on a possible downturn: macroeconomic risks and “air pockets” 07:59 – Aging populations and structural economic concerns 09:53 – The importance of cash flow and capital protection 10:21 – Brett's entrepreneurial journey – from launching his first fund at 26 to building Star Mountain Capital 12:41 – The S-shaped growth curve and persistence through innovation 13:40 – Brett's data-driven approach to strategy and decision making 15:35 – Why aging demographics and inefficient markets create opportunity 17:08 – Biggest challenge in building the firm: People 19:30 – Aligning team culture and expectations through transparency and shared values 20:57 – Why Star Mountain is 100% employee-owned – benefits and challenges 22:54 – Building trust and long-term alignment through ownership 24:45 – Observations on asset management failures and strategic missteps 25:44 – What is the Collaborative Ecosystem and how it drives results at Star Mountain 27:34 – How peer networks like EO and YPO influenced the firm's internal culture 28:31 – Leveraging insights between secondaries and direct investments 29:59 – Case studies, adjusted EBITDA, and forensic underwriting 31:18 – Using real business alignment as a differentiator in competitive deal processes 33:13 – Recommended reading: Brett's top books and content on leadership and execution 33:41 – Never Lead Alone by Keith Ferrazzi 34:37 – Agility by Leo Tilman and General Chuck Jacoby 36:54 – Harvard Business Review and Rob Kaplan's work on leadership 38:48 – Principles by Ray Dalio and how it influences Brett's thinking 39:18 – A practical tip: triangulating decisions with deep experts 41:13 – Final reflections on value investing, risk management, and staying grounded 42:09 – How to get in touch with Brett and Star Mountain Capital 42:38 – Wrap-up and takeaways from Alex

Guest: David Rowley, Operating Partner at Diversis Capital Host: Alex Rawlings Topic: Product Strategy, Artificial Intelligence, and the Evolving Role of the Operating Partner

The Private Equity Podcast – Show NotesGuest: Otis Spencer Host: Alex Rawlings Episode Title: Lessons in Leadership: From Army Logistics to PE Operating Partner & CEO Success

Guest: Greg Neuenhuis – Private Equity Advisor, Chairman & AI Expert Topic: Unlocking Generative AI for Private Equity & Portfolio Companies

In this insightful episode, Nate Edgerly, CEO of Enzo Group Inc., discusses his journey from CPA at PricewaterhouseCoopers to a seasoned private equity investor and executive leader in the hospitality industry. Nate shares valuable insights on leadership, long-term investing, and what makes hospitality businesses thrive or fail.Key Takeaways:Nate's journey from CPA to CEO, highlighting his pivotal experiences in private equity and operating roles.Lessons learned from running a business, enhancing empathy, and effectively partnering with leadership teams.What separates exceptional CEOs: empathy, people-focus, and creating a supportive culture.Common private equity mistakes: prioritizing short-term gains over long-term strategic growth and cultural investment.The decision behind Enzo Group's unique approach to raising capital—democratizing access beyond institutional investors.Notable Mentions:Book Recommendations:Unreasonable Hospitality by Will GuidaraWarren Buffett's investor lettersLeadership insights by Simon Sinek, Daniel Pink, John MaxwellMastery by Robert GreeneBrands Admired:Ladybird Taco, Original Chop Shop, Cava, McDonald's, Chipotle, Golden CorralTimestamps:00:00 – Introduction to Nate Edgley02:30 – Nate's early career and transition to private equity06:10 – What Nate learned from operating roles10:00 – Qualities of exceptional CEOs13:15 – Mistakes private equity firms make and Nate's long-term investment philosophy17:20 – Enzo Group's unique capital-raising strategy21:45 – Why choose the volatile hospitality industry?27:30 – Critical success factors for restaurant businesses32:00 – Brands admired by Nate and reasons behind their success38:00 – Nate's insights on executive search firms42:00 – Influences, recommended readings, and learning resources45:20 – How to connect with Nate EdgleyRaw Selection partners with Private Equity firms and their portfolio companies to secure exceptional executive talent. We focus on de-risking executive recruitment through meticulous search and selection processes, ensuring top-tier performance and long-term success.

In this episode, Alex speaks with Jeff Zwiefel, former President & COO of Life Time, about scaling the business from $139M to $2.3B in revenue and navigating multiple private equity exits and IPOs. Jeff shares how a people-first culture and rigorous training enabled long-term, sustainable growth in a competitive industry.Jeff discusses why private equity firms often miss the mark by focusing only on KPIs and financials, instead of investing in leadership, culture, and succession. He explains Life Time's unique "casting" approach to hiring, their internal university for training, and the importance of empowering GMs as mini-CEOs of their locations.The conversation also covers trends in the health and wellness sector, the rise of personalized longevity services, and how private equity can unlock new value in this rapidly evolving space.

In this episode, Alex Rawlings is joined by Henry Ward, CEO and Co-Founder of Carta, to explore the evolving landscape of private equity and venture capital through the lens of software, operations, and professionalization. Henry shares his journey building Carta into a multi-billion-dollar software business and how it's transforming the infrastructure of private markets.Henry dives into why private equity must evolve from its legacy of financial engineering to an operational value-add model—and how the next generation of firms is doing just that. He also unpacks Carta's roadmap for building cloud-native tools for PE firms, including fund accounting, cap tables, waterfalls, and LP portals. Plus, he explains the two-speed mentality of balancing venture-style growth with private equity-level rigor—and what he's learned along the way.

Description: In this episode of The Private Equity Podcast, Alex Rawlings sits down with Ben Claremon, Partner at Devonshire Partners, a lower middle-market PE firm investing in micro and nano-cap businesses. Ben shares insights into why PE firms overlook small public companies, how microcap investing presents unique opportunities, and why a hedge fund mindset can be valuable in private equity. He also discusses the challenges of deal competition in the lower middle market, mitigating risks in microcap investments, and how Devonshire builds long-term relationships with business owners.Breakdown:[00:00] Welcome back to The Private Equity Podcast. Today, Alex speaks with Ben Claremon, Partner at Devonshire Partners, focusing on micro and nano-cap investments.[00:30] Ben's journey from real estate and hedge funds to private equity.[01:00] Devonshire's investment focus: $2M–$10M EBITDA, founder/family-led businesses.[01:27] The crowded lower middle market and increased deal competition.[02:25] Why PE firms ignore small public companies and why they shouldn't.[03:48] The lack of institutional capital in microcap public equities—an overlooked opportunity.[05:16] Public vs. private small businesses—why public companies often have better governance.[07:07] Devonshire's hybrid approach: investing in public companies with a private equity mindset.[09:00] How Devonshire builds relationships with microcap companies for long-term deals.[10:28] Risks and challenges in microcap investing—and how Devonshire mitigates them.[12:19] Why small public take-private deals are underexplored by PE.[14:16] Devonshire's screening process to filter out high-risk investments.[16:10] Generalist vs. Specialist Investing—how Devonshire balances both.[19:31] Lessons Ben brought from hedge funds into private equity.[21:57] Ben's podcast recommendations: Capital Allocators, Invest Like the Best, and his own Compounders Podcast.[30:04] Connect with Ben:

Welcome back to The Private Equity Podcast, by Raw Selection. In this week's episode, Alex Rawlings speaks with Cari Lodge, a seasoned investor with 25 years in private equity secondaries. They explore the market's rapid growth from $2 billion to $160 billion, the increasing need for liquidity, and how secondaries optimize portfolio management. Cari discusses GP-led secondaries, continuation funds, and the market's evolution, offering key insights into future opportunities in this space. Breakdown: [00:00] Introduction to the episode and guest, Cari Lodge, Managing Director and Head of Secondaries at CF Private Equity.[00:28] Cari's background, her start in secondaries, and how the market has expanded from $2 billion to $160 billion.[01:45] Common mistake in private equity: Holding assets too long. How increasing holding periods from 5.7 years to 6.7 years impacts returns.[03:34] Why firms miss exit opportunities. The importance of DPI and how delaying exits can lead to the same returns years later.[04:29] Explanation of secondaries for newcomers. The role of LP secondaries, GP-led solutions, and the growing demand for liquidity.[06:53] The benefits of secondaries for investors, including diversification, shorter duration, and strong IRRs and ROIs.[08:49] Demand for GP-led secondaries, continuation funds, and LP transactions. How secondaries are now part of active portfolio management.[10:42] The future of secondaries. Market expected to grow from $160 billion to $200–220 billion in 2024, but constrained by capital and human resources.[12:33] Challenges holding the market back. Capital constraints, lack of resources, and evolving perceptions of secondaries.[14:21] Why Cari loves the secondaries market. Exposure to 1,200+ private equity funds, constant evolution, and a collaborative industry.[17:12] Key trends in private equity. The impact of higher interest rates, valuations, and the growing focus on liquidity solutions.[20:32] Secondaries' role in providing liquidity. Now contributing 15–20% of total private equity liquidity.[22:28] How secondaries adapt to market cycles. Benefits in both up and down markets, shifting from a distress play to a mainstream strategy.[23:22] Cari's recommended reads: The Economist, Private Equity Analyst, and What It Takes by Steve Schwarzman.[25:14] How to reach Cari Lodge. Best contact method: LinkedIn.[25:45] Closing thoughts. Recap of insights and encouragement to subscribe to The Private Equity Podcast.Thank you for tuning in! Connect with Cari here. To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, send an email to alex.rawlings@raw-selection.com.

Welcome Back to another episode of the Private Equity Podcast, In this episode, Alex Rawlings sits down with Tracie Kelly, Director of Marketing at Exellere Partners, to explore the evolving role of marketing within private equity firms. Tracie shares insights into how marketing contributes to deal origination, firm differentiation, and relationship-building with investment bankers, founders, and advisors. She also discusses the increasing importance of internal marketing functions and how private equity firms can leverage branding to stand out in a competitive market.Breakdown:[00:00] – Introduction to the episode and guest, Tracie Kelly, Director of Marketing at Exelir Partners[00:31] – Tracie's background: 20+ years in private equity marketing and origination[01:30] – The common mistakes PE firms make regarding technology adoption[02:36] – The role of marketing in private equity firms vs. traditional deal origination[03:51] – How Tracie's firm integrates marketing with deal sourcing[05:35] – Tracie's journey into private equity marketing and how she shaped the role[07:04] – How KRG Capital (now Mountain Gate) grew from $200M to $2.5B[08:27] – Why private equity firms should consider hiring internal marketing professionals[09:57] – Marketing's role in brand awareness and differentiation in private equity[10:54] – Current market conditions: Post-2021 deal flow and valuation challenges[11:51] – The future of private equity: What to expect in Q2, Q3, and beyond[12:20] – Tracie's book and podcast recommendations for professionals[14:15] – The challenge of diversity in private equity and encouraging women in the industry[16:41] – Why Tracie loves working in private equity and the dynamic nature of investments[18:06] – How to connect with Tracie Kelly (LinkedIn: Tracie Kelly at Exelir Partners)[18:35] – Closing remarks and thank you for tuning inThank you for tuning in!Connect with Tracie HereTo get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, send an email to alex.rawlings@raw-selection.com.

Welcome to The Private Equity Podcast by Raw Selection, hosted by Alex Rawlings. Brent Burnett, Head of Infrastructure and Real Assets at Hamilton Lane, shares insights on infrastructure growth, key trends, and the 2025 outlook. Tune in for a deep dive into its role in PE. Breakdown:[00:00] Welcome to the Raw Selection Private Equity Podcast with host Alex Rawlings and guest Brent Burnett, Head of Infrastructure and Real Assets at Hamilton Lane.[00:30] Brent shares his background in infrastructure investing and career journey.[01:22] How Brent's experience in real estate and industrial assets shaped his focus.[02:17] Brent's role in launching a real assets fund and joining Hamilton Lane.[03:06] Growing interest in infrastructure investments and Hamilton Lane's outlook for 2025.[03:59] Increasing allocations to private infrastructure in both private wealth and institutional sectors.[04:56] Infrastructure's role in AI, energy transition, and supply chain optimization.[05:48] Interest rate impacts on infrastructure investments and risk classifications.[07:10] Core plus and value-add infrastructure offsetting interest rate pressures through growth.[08:07] How secondary market pricing and asset valuation have adjusted.[09:29] Breaking down valuation trends in power, transportation, telecom, and environmental assets.[09:57] Data centers and renewable energy—hot sectors with valuation risks.[10:53] Renewable energy valuation trends and cautious investment approaches.[11:48] Stable valuation trends in other infrastructure sectors.[13:14] Political impact on infrastructure investing, including policy shifts in the US and UK.[14:11] Infrastructure growth drivers—data telecom and renewable energy.[15:09] Challenges in expanding data center capacity, including power and water constraints.[15:39] Role of renewable energy tax credits in US policy and investment strategy.[17:02] Historical renewable capacity growth under different US administrations.[18:27] Low likelihood of drastic policy changes affecting renewable energy investments.[20:18] Fundraising challenges and market dynamics in infrastructure.[21:20] Expectations for improved fundraising conditions in 2025.[22:43] How difficult fundraising conditions benefit co-investment strategies.[23:11] Brent's positive outlook for deal flow in 2025 and accountability joke.[23:39] Alex highlights Raw Selection's executive search services for private equity firms.[24:07] Hamilton Lane's evergreen funds expanding access to private infrastructure investments.[24:35] Benefits of infrastructure investments—income, appreciation, and diversification.[26:54] Brent shares his favorite books, podcasts, and influences.[27:21] Recommended business podcasts, including Dry Powder and In Good Company.[27:49] Interest in psychology and behavioral economics through Hidden Brain.[28:49] Books Brent is reading: Atomic Habits, The Comfort Crisis, and Empire of the Summer Moon.[30:41] A mix of professional and entertainment reading for learning and growth.[31:08] How to connect with Brent on LinkedIn for further discussions.[32:02] Closing remarks and thanks to listeners of The Private Equity Podcast. Thanks for listening! Connect with Brent Burnett hereSubscribe on iTunes or Spotify. For questions, email alex.rawlings@raw-selection.com.  

Welcome back to The Private Equity Podcast, by Raw Selection. Host, Alex Rawlings speaks with John Dahlgren, VP of Talent at SBJ Capital, about the growing role of internal talent in private equity, portfolio hiring strategies, and using talent partnerships to generate deal flow. John shares insights on hiring trends, common mistakes, and how SBJ Capital optimizes talent operations for long-term success.Breakdown: [00:00] Introduction to the episode and guest John Dahlgren. Overview of hiring trends in PE firms and portfolio companies.[00:29] Rising demand for operating partner talent and how firms can develop a structured hiring approach.[00:59] John's journey from executive search to private equity, his role at SBJ Capital, and their investment focus.[02:22] PE firms sometimes push beyond their core mandate. The importance of patience and focusing on strengths.[04:48] Why internal talent functions are critical. Managing over 45 searches across 12 portfolio companies in a year.[06:46] How SBJ Capital partners with investment professionals to refine hiring criteria and streamline recruitment.[09:11] Building trust with portfolio executives to ensure hiring aligns with their company's needs.[11:15] The importance of hiring PE-experienced executives with adaptability and strategic leadership skills.[13:36] Acting faster on hiring mistakes and recognizing early signs of a mis-hire.[14:46] The cultural impact of hiring at the fund level and promoting from within.[17:16] Using industry experts to source deals via the Origination Partner Program.[19:38] The program has sourced 50-100 deals in 18 months, contributing to SBJ Capital's deal pipeline.[21:11] Working with former CEOs and advisors to generate proprietary deal flow.[23:08] Recommended reads and podcasts: The Catalyst by Jonah Berger, ParkerGale's PE Funcast, and SmartLess.[25:29] How to connect with John via LinkedIn or email.[27:20] Final thoughts on diversifying deal sourcing and ensuring strong talent strategies.[27:50] Closing remarks and call to action to subscribe.Thank you for tuning in!Connect with John here.  To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, send an email to alex.rawlings@raw-selection.com.

Welcome to The Private Equity Podcast, by Raw Selection, hosted by Alex Rawlings. In today's episode, Jordan Burton shares his expertise on hiring, training, and evaluating executives. They discuss common mistakes private equity firms make when hiring portfolio executives, how to improve interview techniques, and the critical role of structured assessment. Jordan also covers the importance of preparing for interviews, aligning stakeholders, and ensuring a thorough evaluation process.Breakdown: [00:00] Introduction to the episode and guest Jordan Burton. Overview of hiring and interviewing in private equity.[00:28] The importance of preparation before an interview. Defining the role clearly and aligning expectations among stakeholders.[01:26] The biggest hiring mistakes in private equity. Why many firms fail to achieve more than a 30% success rate in portfolio hiring.[02:52] Understanding your role in the hiring process. Avoiding generic questions and ensuring structured, targeted assessments.[04:20] How to create an effective scorecard. The value of assessing current leadership strengths and defining key success traits.[06:15] The impact of investor dynamics on hiring success. Recognizing patterns in successful executives and adapting selection criteria accordingly.[07:42] Why “been there, done that” is a flawed hiring approach. Focusing on upward trajectory and capability over past roles.[09:05] The importance of structured note-taking during interviews. Ensuring consistency in feedback and preventing redundant questioning.[11:00] How curiosity and active listening improve interviews. Creating a strong rapport to uncover valuable insights.[12:30] Balancing assessment with selling the opportunity. Tailoring your pitch based on the candidate's motivations and priorities.[14:54] What truly differentiates a PE firm in hiring. How to stand out beyond compensation and equity offers.[17:21] The role of portfolio executives in recruiting. Leveraging their experience to attract and evaluate top talent.[19:49] Why most private equity investors are never trained in interviewing. Steps firms can take to develop better hiring processes.[21:41] How to ask better interview questions. Moving beyond hypothetical questions to uncover real insights.[24:02] Identifying red flags in executive candidates. Evaluating openness, honesty, and past performance patterns.[27:25] The importance of conducting rigorous reference checks. Selecting the right references and verifying past performance.[30:20] Post-interview best practices. Consolidating feedback and structuring hiring decisions effectively.[35:50] The final hiring decision. Aligning stakeholders and ensuring a structured decision-making process.Thank you for tuning in!You can connect with Jordan Burton on LinkedIn by visiting his profile here. To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, send an email to alex.rawlings@raw-selection.com

Welcome to The Private Equity Podcast, by Raw Selection. Today's guest is Jeff Wigle, Managing Director at Banyan Capital Partners, a lower-to-middle market private equity firm based in Canada. Jeff shares insights on transitioning portfolio companies from founder-led to data-driven decision-making, leveraging technology, and managing cultural change during these shifts.Breakdown:[00:00] Jeff Wigle discusses his background, Banyan Capital Partners, and his experience transitioning portfolio companies to data-driven decision-making[00:29] Jeff's background from accountant at Ernst & Young to private equity leader, including serving as CEO of a portfolio company at age 31[02:26] Building an evergreen private equity model with the importance of long-term holds and avoiding rushed investment theses[04:22] Common private equity mistakes including rushing transformations, breaking culture, and short-sighted strategies[05:48] Banyan's approach focusing on long-term value creation, rebuilding foundations, and avoiding premature integrations or expansions[07:31] Lessons from being a CEO with the critical importance of having the right people in the right roles[08:52] Characteristics of top performers including clarity, consistency, transparency, and alignment with investor and business goals[10:16] Transitioning to data-driven decision-making by addressing founder-led systems and building scalable processes for growth[11:43] Challenges of upgrading systems with balancing inward focus during upgrades with market opportunities[12:42] Investing in systems and data by upgrading technology to generate actionable insights and improve decision-making[14:09] Starting with manual processes by using limited data to identify profit drivers and inefficiencies before implementing systems[16:05] Managing resistance to change by evolving culture carefully with executive buy-in to avoid breaking businesses[17:41] Leveraging IT consultants and internal resources with strategies for implementing and managing technology upgrades[20:59] Early steps with artificial intelligence including using AI for coding fixes, dynamic pricing, and operational efficiencies[23:22] AI and dynamic pricing with AI to manage large customer bases and product catalogs efficiently[24:50] Staying competitive with AI and how larger businesses lead adoption, but smaller firms must act to avoid falling behind[27:44] AI at the private equity level with AI for research and data compilation, but still validating results manually[29:10] Recommended reading Scaling Up by Vern Harnish, Grit, Good to Great, The Five Dysfunctions of a Team, and Switch[31:00] Podcast recommendations Business Breakdowns, In Good Company, and Michael Lewis's podcast[32:26] Connect with Jeff via the Banyan Capital Partners website for contact details[32:55] Closing thoughts with Alex Rawlings thanking Jeff for sharing his insights on data-driven decision-making and cultural change in private equityTo be added to the book waitlist, you can email alex.offer@raw-selection.comThank you for tuning in! Connect with Jeff on LinkedIn here.  To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, send an email to alex.rawlings@raw-selection.com

Welcome back to The Private Equity Podcast, by Raw Selection. Our host, Alex Rawlings is joined by Sanjay Chandra, Managing Partner of Trinity Investors, a Private Equity firm based in Texas. Sanjay brings decades of experience as an operator, entrepreneur, and private equity investor. In this episode, we explore how he scaled businesses from single-digit EBITDA multiples to double-digit exits, his unique journey from operator to investor, and Trinity's focus on domestic manufacturing and industrials.Breakdown: [00:29] Sanjay shares his journey from immigrating to Texas as a child, excelling academically, and starting his career at Arthur Andersen before transitioning into entrepreneurship.[01:58] Founding American Leather, growing it into a $300–$400 million business with 1,600+ employees.[03:24] Sanjay discusses the founding of Trinity Investors, growing it into a $7 billion AUM alternative asset manager, and the firm's focus on operating companies and commercial real estate investments.[07:17] Reflecting on mistakes in private equity, Sanjay emphasizes the importance of exiting troubled investments quickly and shares how Trinity has adjusted its processes to respond to challenges more decisively.[09:46] Sanjay explains how his experience as an operator helps him empathize with founders and better understand the challenges they face in the lower middle market.[11:42] Advice for private equity professionals without operational experience: spend time on the shop floor, listen to management teams, and immerse yourself in the business beyond financial reports.[13:08] Sanjay highlights Trinity's focus on domestic manufacturing in the U.S., explaining why the firm prioritizes single-digit entry multiples with growth potential through operational improvements and strategic investments.[16:04] Insights from growing American Leather: the value of patience in scaling companies, focusing on steady growth, and the compounding benefits of later years in business.[19:29] Sanjay discusses the challenges of implementing infrastructure, upgrading management, and transitioning companies to professional operations, emphasizing the importance of respecting founders' knowledge and contributions.[22:55] Sanjay shares his passion for mentorship, explaining how he invests in the growth and development of leaders across Trinity's portfolio companies and his philanthropic initiatives.[25:21] Sanjay talks about his love for lifelong learning, mentioning his recent exploration of AI and continuous efforts to stay at the forefront of technology and innovation.[28:38] How to reach Sanjay via email or LinkedIn, along with his openness to connecting with new people and sharing his insights.[29:37] Closing remarks from Sanjay, reflecting on his journey and the value of entrepreneurial experiences, followed by Alex thanking him for his time and insights.To be added to the book waitlist, you can email alex.offer@raw-selection.comThank you for tuning in! Connect with Sanjay on LinkedIn here or via email at sanjay@trinityinvestors.com. To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, send an email to alex.rawlings@raw-selection.com

Welcome to The Private Equity Podcast, hosted by Alex Rawlings. Today's guest is Seth Auld, VP of Portfolio Management and Deal Origination at Kompass Kapital. Seth shares his insights on building LP relationships, raising capital effectively, and the importance of sector specialization.Breakdown;[00:00] Introduction to Seth Auld and the episode's focus on LP relationships and capital raising.[00:29] Seth's journey from running a family business to private equity, including roles in banking, consulting, and Fortune 500 agribusiness.[03:14] Key mistake: Firms lack focus and fail to define a niche. Seth emphasizes sector specialization, strong operating partners, and avoiding transactional relationships.[05:36] Seth's approach to relationships: Be genuinely curious, ask questions, and build trust. He recommends How to Win Friends and Influence People.[08:45] Importance of narrowing a niche and involving full-time, deeply engaged operating partners with relevant experience for target company size.[11:09] What appeals to LPs: Strong track record, operating partner alignment, and financial commitment to the fund.[13:58] Better LP engagement: Build relationships during the current fund, offer co-investment opportunities, and avoid transactional outreach.[14:58] The challenge of direct outreach to family offices and the value of referrals, conferences, and relationship-building over cold solicitations.[17:21] Closing the right deal: Avoid deal fatigue, revisit your original thesis, and maintain discipline. A broad deal pipeline ensures better options.[20:38] Seth's influences: Wall Street Journal, FRED economic data, trade magazines, and AI developments.[21:07] Connect with Seth on LinkedIn for further insights.To be added to the book waitlist, you can email alex.offer@raw-selection.comThank you for tuning in!Connect with Seth on LinkedIn here. To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, send an email to alex.rawlings@raw-selection.com

Welcome back to The Private Equity Podcast by Raw Selection, hosted by Alex Rawlings. Today's guest is Richard Neff, a proven operator and operating partner with decades of experience in private equity and a 25-year career at GE Capital and GE Healthcare. In this episode, Richard shares insights into the investor-operator relationship, the importance of infrastructure, and lessons learned from GE's legendary playbook for growth and transformation.Breakdown; [00:00] Reflecting on 2024 and looking ahead to 2025.[00:28] Introduction to Richard Neff: His background in healthcare, tech-enabled services, industrial services, and 25 years at GE.[00:57] One common private equity mistake: Over-ambitious plans versus focused execution.[02:17] What typically moves the needle in $20M revenue businesses: Human capital and growth initiatives.[03:38] Key areas private equity firms can better align with portfolio executives.[04:36] The gap between evaluators (investors) and doers (operators): Surprises post-acquisition.[06:29] The infrastructure gaps often missed: Sales team depth, product development, and capability issues.[07:53] Why infrastructure and capability investment is underestimated and often delayed.[09:21] Richard's experience at GE Capital: A private equity-style approach to business building.[10:49] How GE executed a structured playbook for M&A, growth, and cultural integration.[11:45] Lessons from managing hyper-growth businesses pre- and post-financial crisis.[12:44] Richard's key takeaways from GE:The value of a structured 100-day plan.Building global networks and talent development.Creating a sense of belonging and shared purpose.[14:36] Applying GE's lessons to smaller portfolio companies: Building camaraderie and engagement.[15:35] The power of networking within private equity portfolio companies.[16:58] Why private equity firms often miss the value of connecting their C-suite leaders.[18:26] Richard's influences: His diverse reading list including Fast Company, Wired, and Financial Times.[19:47] Encouraging problem-solving and situational adaptability through varied experiences.[20:13] How to contact Richard Neff. To be added to the book waitlist, you can email alex.offer@raw-selection.comThank you for tuning in! Connect with Richard on LinkedIn here. To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, send an email to alex.rawlings@raw-selection.com

Welcome to The Private Equity Podcast by Raw Selection, hosted by Alex Rawlings. Today's guest is Jon Van Tuin, Managing Director at P4G Capital. With decades of experience in Private Equity, Jon shares his insights on deal origination, building relationships with deal sources, and standing out in an increasingly competitive market. Learn actionable strategies to improve deal flow, develop meaningful relationships, and elevate your firm's positioning as the preferred acquirer. Breakdown:[00:00] The current private equity landscape with over 3,500 funds and $1 trillion in undeployed assets.[00:28] Introduction to Jon Van Tuin and his role at P4G Capital.[00:57] Jon's background: 30+ years in private equity starting in the late 1980s.[01:27] A common mistake private equity firms make: Addressing portfolio issues too slowly.[02:27] The importance of acting quickly and getting the right people into key roles.[03:25] Jon's career reflections and the growth of private equity since the 1980s.[05:23] Jon's approach to deal origination: Focusing on relationships, not transactions.[06:21] Why 80% of P4G's deals come from a select group of intermediaries.[07:43] Adding value to intermediaries: Sharing insights instead of just asking for deal flow.[08:42] The value of a dedicated deal origination professional in private equity.[09:40] How origination teams keep pipelines full and differentiate firms in a crowded market.[10:39] Positioning P4G as a preferred acquirer: Building relationships and delivering on process.[11:07] Jon's multi-pronged approach: Over 700 face-to-face meetings and consistent outreach.[12:57] Staying top of mind: Leveraging tools like DealCloud for digital outreach.[13:25] The demands of travel: 43 weeks on the road to drive deal origination success.[14:22] Jon's influences: Focusing on leadership, culture, and aligning the right teams for success.[16:16] Recommended reading: Insights from McKinsey, Bain, Stephen Covey, and Jim Collins.[17:14] How to contact Jon Van Tuin: Email: jvantuin@p4gcap.comTo be added to the book waitlist, you can email alex.offer@raw-selection.comThank you for tuning in! You can connect with Jon Van Tuin on LinkedIn here. To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, send an email to alex.rawlings@raw-selection.com

Mike "C-Roc" sits down with Alex Rawlings, founder and managing partner of Raw Selection, as well as host of The Private Equity Podcast. Together, they delve into what drives Alex's relentless work ethic and passion for success, drawing on his early inspirations from his father's unwavering dedication. Alex shares the intricacies of leading a top-tier executive search firm specializing in private equity, the value of building strong relationships, and the balancing act between ambition and quality time with family. With candid insights into navigating business challenges, automation, and personal growth, Alex reveals his vision for creating lasting impact in his industry while staying grounded in his personal life. Tune in for a conversation packed with actionable takeaways on leadership, resilience, and building a legacy that uplifts not just yourself but everyone around you. Don't miss this opportunity to learn from a rising star in private equity and hear C-Roc's reflections on finding fulfillment in the journey. Website-https://www.raw-selection.com/ Social Media Links/Handles- https://www.instagram.com/rawselection https://www.linkedin.com/in/alexrawlings

Welcome back to The Private Equity Podcast by Raw Selection hosted by Alex Rawlings! Today's guest is Joe Gerber, a proven Operating Partner and transformation expert. In this episode, we explore Driving EBITDA Growth Through Data Metrics. Joe shares actionable strategies on leveraging real-time data, optimizing decision-making, and taking reporting from good to great. Discover how Private Equity firms and portfolio executives can use data to identify inefficiencies, drive operational excellence, and boost EBITDA growth.Breakdown:[00:00] What does good reporting look like? Starting with excellence and working backward.[00:12] Building effective teams without geographical limits.[00:41] Joe's background: Middle-market investment banking, transforming businesses, and PE advisory work.[01:39] The biggest reporting mistakes PE firms make and how to correct them.[02:36] Real-time reporting example: Cutting headcount by 30% and growing EBITDA.[04:32] Metrics to track daily: Real-time insights to forecast performance.[06:50] How real-time data leads to operational pivots and improved decision-making.[09:15] Optimizing working capital to fuel growth and cash flow.[11:33] Taking reporting from good to great: Key improvements PE firms need.[13:01] Assessing management teams early with data-driven insights.[15:46] Where to start: Key data points in multi-location businesses.[18:41] Coaching CEOs: Common gaps and how to address them.[20:19] Joe's influences: The Art of Gathering, personal growth, and daily reads.[22:43] Best way to connect with Joe: LinkedIn.To be added to the book waitlist, you can email alex.offer@raw-selection.comThank you for tuning in! You can connect with Joe Gerber on LinkedIn here. To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, send an email to alex.rawlings@raw-selection.com

Welcome back to The Private Equity Podcast by Raw Selection, In this episode, host Alex Rawlings sits down with Sam Bendix, Partner of Investor Relations at Chicago Pacific Founders. In this episode, we dive deep into what it takes for Private Equity firms to truly stand out in an increasingly competitive market.Sam shares actionable insights on how differentiation can impact talent attraction, capital raising, and deal origination. Sam discusses the importance of building a strong brand, fostering innovation, and effectively communicating your firm's story.[00:00] Brand is a product of the people building it and consistent results.[00:13] Importance of differentiation in attracting talent, capital, and investments.[00:42] Introduction to Sam Bendix, Partner of Investor Relations at Chicago Pacific Founders, and the episode's focus on differentiation in private equity.[01:11] Sam's career journey from investment banking to real estate investments and IR roles across various firms.[04:57] Overview of Chicago Pacific Founders and its healthcare-focused investment strategy.[06:24] The mistake of inconsistent messaging and the importance of cohesive communication.[08:07] Differentiation strategies: strategic positioning, operational strengths, and client-centric innovation.[10:55] Proprietary processes, attracting top talent, and creating barriers to imitation.[12:18] Case study: Proving differentiation through performance and results.[13:12] The role of brand recognition and consistent execution in building a firm's reputation.[14:39] Educating the market as a key element of branding and thought leadership.[16:38] Attracting talent: building a network and aligning with career aspirations.[19:01] Revisiting assumptions and fostering innovation for market differentiation.[19:59] The role of talent in building and maintaining differentiation.[22:26] Alex shares insights on private equity firms' branding and talent strategies.[28:06] Importance of putting yourself out there and documenting over creating for awareness.[33:24] Building trust through transparency and thought leadership.[36:17] Efficiently qualifying leads and fostering trust through shared insights.[38:12] Challenges in communication: sticking to agendas, avoiding jargon, and active listening.[42:03] Tools for effective communication: checklists, frameworks, and structured conversations.[43:27] Recommended communication frameworks: What-So What-Now What and others.[45:23] Sam's book and podcast recommendations for effective communication and decision-making.[46:52] Importance of knowing when to quit and insights from behavioral science.[47:21] Sam invites listeners to connect via email for further discussions.[47:44] Recap of the conversation's key themes and the importance of continuous improvement in differentiation strategies. You can connect with Sam on LinkedIn by visiting his profile here. To be added to the book waitlist, you can email alex.offer@raw-selection.comThank you for tuning in!To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, send an email to alex.rawlings@raw-selection.com

Welcome back to The Private Equity Podcast by Raw Selection! In this episode, Alex Rawlings welcomes back Adam Coffey, CEO and author of the Private Equity Playbook. Adam shares his strategies for scaling businesses, reducing employee turnover, and building strong company cultures. He emphasizes hiring for future growth, addressing employee concerns, and using hybrid work models to retain top talent. Adam also discusses his updated edition of the Private Equity Playbook, offering new post-COVID business insights.Breakdown: [00:00] Most Private Equity firms report a success rate of only 20-30% with CXO hires, with 30% being quite rare.[00:46] Adam, gives us a brief insight into your background.[01:15] Adam reflects on his time at GE, leading companies through private equity backing, and now helping entrepreneurs grow their businesses.[04:06] Adam talks about the importance of culture in scaling businesses and the challenge of reducing employee turnover from 41%. He highlights how different regions and employee needs required tailored approaches to address issues and improve retention.[07:30] He explains how culture, leadership, and people are fundamental when scaling businesses. Having a strong culture ensures employees stay and grow, making talent the key to driving success.[09:25] Adam dives into how he tackled turnover in different regions, using examples from the Pacific Northwest and Texas, where pay scale and benefits played a role in employee satisfaction.[12:15] By investing in people early on and addressing their needs, Adam quickly reduced turnover to below industry standards. He explains how transparency and early investments helped build trust and boost employee engagement.[15:01] Adam discusses how private equity firms struggle with transitioning founder-led companies to PE-backed environments, emphasizing the importance of communicating career opportunities and company growth potential.[17:49] When acquiring companies, Adam emphasizes how better benefits and career development opportunities within a larger organization can turn acquisition anxiety into employee buy-in.[19:36] Adam addresses the shift in work culture, particularly after COVID-19, and the challenges and benefits of remote work in recruiting talent nationally.[23:16] He highlights how businesses can still maintain flexibility for employees while ensuring productivity and accountability. Companies that find the right balance will be better positioned for growth.[27:24] Adam shares his approach to hiring top executive talent, with a focus on aligning work to be done with the candidate's experience.[33:01] He stresses the importance of hiring leaders who can guide the company through growth and challenges, even if it means making difficult decisions like upgrading talent.[38:10] Adam talks about the importance of culture fit when hiring and how toxic employees can disrupt growth. [41:59] Adam reveals his process for assessing talent within six months.[44:15] Adam announces his updated edition of the Private Equity Playbook, highlighting new insights post-COVID and why it's been a top read for private equity professionals for years.To be added to the book waitlist, you can email alex.offer@raw-selection.comThank you for tuning in!You can connect with Adam Coffey on LinkedIn here.To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, send an email to alex.rawlings@raw-selection.com

Welcome back to The Private Equity Podcast by Raw Selection, In this episode, host Alex Rawlings sits down with Matt Bodnar, founder and managing partner of Eidolon Capital. They discuss Eidolon's unique deal origination strategies, including innovative approaches like direct mail, and how their flexibility in deal-making helps them close deals where more rigid firms miss out. Matt also shares valuable insights on long-term investing, inspired by Berkshire Hathaway, and offers top recommendations on business, psychology, and deal-making books. Breakdown: [00:00] Matt explains how their market position was inspired by Berkshire Hathaway, leading them to find unique opportunities by being flexible where others are rigid.[00:12] PE firms often miss out on deals due to their rigid criteria; Eidolon benefits from a more flexible approach.[00:26] Matt mentions Extreme Ownership as one of his favorite books and shares it with his management teams.[00:53] Introduction to Matt Bodnar, founder of Eidolon Capital. The conversation covers deal origination, using direct mail, and valuable book recommendations.[01:21] Goldman Sachs, starting Eidolon Capital, and focusing on lower middle market companies with a long-term approach.[02:17] Matt identifies rigid deal structures as a common mistake PE firms make, missing opportunities to tailor deals based on sellers' needs.[03:09] Flexibility in deal-making, like structuring equity rolls and earn-outs, gives Eidolon an advantage over more rigid buyers.[04:34] Matt shares Eidolon's broad deal origination strategies, including cold email, LinkedIn, direct mail, and networking.[07:46] The importance of market positioning and personal outreach from principals to increase deal engagement.[09:39] Why principals contacting sellers directly makes a significant difference in building rapport and closing deals.[10:35] Direct mail as an effective, less crowded method for sourcing deals, especially in old-economy sectors like manufacturing and distribution.[13:23] Eidolon's brand focuses on long-term investing and taking care of all stakeholders, inspired by Berkshire Hathaway.[15:16] Eidolon's flexibility with capital and bespoke deal structures allows them to close deals even in suboptimal conditions where other firms might walk away.[17:09] How taking a long-term view, as opposed to the typical 3-5 year private equity time horizon, results in better decisions and stronger outcomes for companies.[19:25] Matt discusses the importance of staying informed on macroeconomic trends, the Fed, and market cycles to understand the broader impact on investment decisions.[20:48] Book recommendation: How to Make a Few Billion Dollars by Brad Jacobs, a prolific entrepreneur who founded or acquired several billion-dollar companies.[22:41] Matt shares how deep reading into human psychology and decision-making (Charlie Munger's Poor Charlie's Almanac and Robert Cialdini's Influence) shapes his approach to deals and negotiation.You can connect with Matt on LinkedIn by visiting his profile here.  To be added to the book waitlist, you can email alex.offer@raw-selection.comThank you for tuning in!To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, send an email to alex.rawlings@raw-selection.com

In this episode of the Measure Success Podcast, Alex Rawlings from Raw Selection delves into the complexities of executive hiring in private equity. With a 27% retention rate for C-suite hires in the first year, many firms face costly turnover. Alex shares actionable insights on how to set a high standard for talent, build a robust hiring process, and improve executive retention. If you're in private equity or looking to strengthen your hiring approach, this episode is packed with value. Next month we launch our podcast sponsors program, click to join!   Connect with Alex: Website:  www.raw-selection.com  LinkedIn: https://uk.linkedin.com/in/alexrawlings    Where to find Carl: https://40strategy.com https://www.linkedin.com/in/carljcox/ https://www.instagram.com/carljcox40/ https://x.com/40Strategy  

In this episode of the Private Equity Podcast, host Alex Rawlings is joined by Paul Adams, an experienced CEO in the home and residential services sector. Paul shares his extensive experience in leading private equity-backed companies through multiple acquisitions and the challenges of navigating a highly fragmented industry. They dive into why private equity is increasingly focused on the residential services sector, what makes it such an attractive investment opportunity, and the importance of managing labor shortages in a people-driven business. [00:00] Introduction of Paul Adams.[00:44] Paul's background in HVAC, electrical, and plumbing services.[01:38] Challenges private equity faces with mom-and-pop shops in home services.[02:08] Importance of patience and strong M&A skills in home services.[02:36] Balancing private equity's need for speed with the slower pace of acquisitions.[03:33] The emotional side of selling a family legacy and employee concerns.[03:59] How generational handovers can create trust issues during acquisitions.[04:28] Building trust and relationships with founders during the process.[04:57] Paul's approach to working with contractors in residential services.[05:26] The people-driven nature of service businesses and their focus on relationships.[05:53] Addressing concerns of sellers about their employees and legacy post-sale.[06:52] Challenges in attracting technicians despite the sector's essential nature.[07:19] Impact of the labor shortage on growth in home services.[08:19] Acquiring companies to meet demand and gain market share.[09:18] Changes in the sector, including energy efficiency and government rebates.[09:48] How government regulations are driving growth in system replacements.[10:17] Increasing profitability through system replacements and upgrades.[10:47] Private equity's interest in home services due to favorable cash flow.[11:15] Low capital requirements and barriers to entry in home services.[11:41] Challenges for small companies to scale due to limited technicians.[12:09] Struggles of small businesses in growth because of labor shortages.[12:35] Fragmentation and integration challenges in residential services.[13:05] Costs of elevating unsophisticated businesses post-acquisition.[14:04] Importance of proper systems to meet customer expectations.[14:33] Paul's strategy in buy-and-build and lessons learned from past experiences.[14:57] Avoiding big announcements and press releases post-acquisition.[15:29] Focusing on investment and continuity to maintain business stability.[16:19] Benefits of working in the background for better performance.[17:17] The power of consistency in building successful businesses.[19:43] Paul's passion for the residential services industry and M&A challenges.[20:12] Alex's closing remarks and a reminder to subscribe to the podcast.You can connect with Paul Adams on LinkedIn by visiting his profile here. To be added to the book waitlist, you can email alex.offer@raw-selection.comThank you for tuning in!To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, send an email to alex.rawlings@raw-selection.com.

Welcome back to The Private Equity Podcast, by Raw Selection! In this episode, Alex Rawlings is joined by Richard Brekka, Managing Partner and Co-Founder of Second Alpha. Richard dives deep into the explosive growth of the secondaries market, explaining how his firm provides liquidity to shareholders of private tech companies. The pair discuss the rise of secondary funds, why more companies are staying private longer, and the unique opportunities in the market for smaller, profitable tech companies.  Breakdown: [00:00] Introduction to Richard Brekka, Managing Partner and Co-Founder of Second Alpha.[00:12] Richard explains the secondary market's growth and why 90% of it is in unicorn companies.[01:10] Richard's background and how he got into secondary investing after working in venture capital.[01:37] The common mistake of holding on to investments too long and the importance of realizing value sooner.[02:05] Richard explains the two types of secondary markets: fund secondaries and direct secondaries.[02:58] Growth in secondary funds driven by a lack of liquidity for GPs and the emergence of unicorn companies staying private longer.[03:58] Richard shares why 90% of transactions in the secondary market are focused on unicorn companies.[05:25] Discussion on the $2.3 trillion unicorn market and the trillion-dollar opportunity in companies valued between $100 million and $1 billion.[06:21] How Second Alpha identifies companies for investment by targeting profitable, growing companies over $100 million in revenue.[07:50] Second Alpha's approach to providing liquidity to shareholders and building long-term relationships with CEOs.[08:49] Richard discusses the various reasons shareholders seek liquidity, from personal financial needs to new business investments.[10:12] The value Second Alpha provides to CEOs and how they become a trusted partner in helping companies toward their exit.[11:00] Richard explains the challenges of accessing private companies for investment and how Second Alpha overcomes these obstacles.[11:58] The importance of building trust with CEOs and navigating rights of first refusal in secondary deals.[13:26] Second Alpha's role as a helpful partner to the CEOs, offering introductions, advice, and exit planning support.[14:53] Challenges private companies face after 10 years of growth, including management changes and adapting to market shifts.[16:22] How companies must pivot and develop new products to continue growing and reach their next phase of success.[17:20] Second Alpha's focus on North American technology companies with strong revenue and profitability.[18:46] The advantage of investing in growth-stage companies at a discount through secondary transactions.[20:39] The role of artificial intelligence and cloud technologies in transforming industries and the efficiency opportunities they bring.[22:32] Second Alpha's focus on disrupting industries like data analytics and finding efficiencies in cloud infrastructure.You can connect with Richard Brekka on LinkedIn by visiting his profile here. To be added to the book waitlist, you can email alex.offer@raw-selection.comThank you for tuning in!To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, send an email to alex.rawlings@raw-selection.com

In this episode of the Private Equity Podcast, host Alex Rawlings sits down with Chad Kalland, an experienced CEO in the industrial services sector with multiple private equity-backed exits under his belt. Chad shares his insights on navigating cultural changes, integrating acquisitions, and driving growth in a private equity-backed environment. He also dives into key lessons learned from his successful exits, how to keep teams engaged during times of rapid change, and the importance of choosing the right private equity partner. [00:00] Introduction of Chad Kalland.[00:12] Importance of growing as a platform company with potential runway.[00:41] Chad's experience with private equity-backed exits and acquisitions.[01:46] Mistakes private equity firms make by implementing changes too quickly.[02:16] Understanding business strengths before making changes.[02:43] Evaluating talent and their unique skills in an organization.[03:12] Transitioning from founder-owned businesses to private equity-backed environments.[03:42] Evaluating a company's culture before acquisition to ease integration.[04:11] Incorporating the acquired company's strengths into the platform.[04:39] Fostering a merger mindset instead of a takeover during acquisitions.[05:08] Injecting private equity-backed speed into founder-owned businesses.[05:38] Bringing acquired leadership into the fold to integrate with the platform.[06:07] Key lessons learned in integrating companies, especially service lines.[07:04] Missteps by not integrating acquired companies quickly enough.[08:02] Adding service lines to increase market share.[08:30] Ensuring smooth service line integration for long-term growth.[09:28] Maintaining employee engagement during changes and new processes.[09:57] Motivating technicians and engineers during transitions.[10:27] Developing employees and offering leadership opportunities to improve retention.[11:27] Strategies for retaining employees in a labor-intensive industry.[11:53] Keeping new hires engaged and committed during the first 90 days.[12:23] Onboarding and training to improve retention.[12:52] Lessons from two successful private equity-backed exits.[13:22] Adapting to private equity decision-making processes with new stakeholders.[13:51] Finding the right private equity partner for growth.[14:20] Evaluating private equity partners beyond the highest offer.[14:49] Choosing between remaining a platform or joining a strategic acquirer.[15:17] Benefits of staying on as the platform versus integrating into a larger organization.[16:16] Focusing on high-margin services for profitability.[17:15] Adding organic growth to acquired companies for value creation.[18:09] Understanding employee motivation as a leader.[19:35] Other leadership podcasts and books, like Simon Sinek's work.To be added to the book waitlist, you can email alex.offer@raw-selection.comThank you for tuning in!You can connect with Chad Kalland on LinkedIn by visiting his profile here. To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, send an email to alex.rawlings@raw-selection.com.

Welcome back to The Private Equity Podcast, by Raw Selection! In this episode, our host, Alex Rawlings is joined by Marc Jourlait, a seasoned Private Equity Operating Partner with extensive experience as a former CEO, leading multiple successful exits. Marc shares his unique insights into the role of the Operating Partner, the importance of driving value creation early in the investment cycle, and why private equity firms must act quickly in their hold period.  Breakdown:[00:00] Introduction of Marc Jourlait. [01:36] Overview of Marc's career journey, from Apple to private equity.[02:03] Importance of acting quickly in the hold period to create value.[03:00] Why replacing key personnel, like the CFO, is crucial early in the investment cycle.[03:30] Causes of delay: risk management and decision-making dynamics in private equity.[04:30] The importance of early involvement, even pre-close, to maximize value creation.[04:59] Benefits of operating partners engaging with the management team before deal closure.[05:49] How early engagement can lead to stronger value creation and faster exits.[06:18] The operating partner model and its differences between the US and Europe.[06:46] Riverside's model of using former CEOs as generalist operating partners.[07:37] Operating partners at Riverside: from acquisition to exit, staying engaged.[08:05] Benefits of operating partners serving as board chairmen for governance and guidance.[09:02] Shift in private equity from financial engineering to operational improvements.[09:31] Importance of having a clear value creation roadmap from the start.[10:01] The short five-year hold period in private equity requires fast action.[11:00] European firms' reluctance to invest in operating partners compared to the US.[12:07] How value creation is now more focused on operational improvements over financial strategies.[12:35] Key areas for value creation: pricing, operations, and cost management.[13:04] How private equity firms create a clear story to maximize exit premiums.[14:01] Discussion on employee ownership and its growing adoption in private equity.[14:37] Riverside's involvement with Ownership Works and its impact on employee ownership.[15:07] How Ownership Works offers equity to all employees, driving engagement.[16:12] Employee ownership as a catalyst for company success and value creation.[17:57] Impact of employee ownership on engagement and business performance.[20:14] Marc's enthusiasm for the Ownership Works program and its positive transformation.[22:13] Marc's encouragement for more private equity firms to adopt employee ownership.[22:41] Importance of employee ownership in driving engagement and maximizing value creation.[24:04] Marc's commitment to continuous learning and networking for professional growth.[24:58] Marc invites listeners to connect with him on LinkedIn. You can connect with Marc Jourlait on LinkedIn by visiting his profile here. To be added to the book waitlist, you can email alex.offer@raw-selection.com Thank you for tuning in!To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, send an email to alex.rawlings@raw-selection.com.

TCP Co-Managing Partner, Geoff Lurie, joins Alex Rawlings on The Private Equity Podcast to discuss how private equity investors and operators can produce better results. In this episode, Alex Rawlings, speaks with Geoff Lurie, Managing Partner at Traub Capital Partners. Geoff brings decades of experience as an operator-turned-private equity investor. He shares his invaluable insights on how private equity firms and portfolio companies can collaborate more effectively for superior results.    Alex Rawlings is the Founder & Managing partner of Raw Selection, an executive search firm that specializes in working with Private Equity firms and their portfolio companies across Europe and North America. On his podcast, Alex interviews the leading experts in the Private Equity industry to unlock their secrets of success.

Welcome back to The Private Equity Podcast, by Raw Selection!  In this episode, Alex Rawlings, speaks with Geoff Lurie, Managing Partner at Traub Capital Partners. Geoff brings decades of experience as an operator-turned-private equity investor. He shares his invaluable insights on how private equity firms and portfolio companies can collaborate more effectively for superior results.  Breakdown: [00:00] Geoff Lurie, Managing Partner at Traub Capital Partners, is introduced as an operator-turned-PE investor.[00:25] Geoff emphasizes the need to focus on how price increases are perceived on the other side.[00:55] Alex discusses the tough market conditions for private equity and hints at potential positive changes with increasing hiring and deal flow.[02:18] Geoff explains the issue with PE firms assuming that entrepreneurs must suddenly change how they operate post-acquisition.[02:47] Managing expectations and helping entrepreneurs report to the PE firm without losing their edge.[03:42] Entrepreneurs struggle to adjust to reporting to external investors after being self-reliant.[05:07] The importance of the first 100 days after an acquisition, setting up reporting structures and management.[06:26] The crucial role of the CFO in portfolio companies, and why PE firms often replace them after acquisition.[08:19] Geoff discusses how changing consumer sentiment impacts the success of private equity-backed companies.[11:01] Differences between financial modeling and the practical steps needed to increase margins in portfolio companies.[13:17] The importance of understanding real-world difficulties in implementing changes in portfolio companies.[14:28] Alex asks how young private equity professionals can gain operational understanding without becoming CEOs.[16:26] Alex plugs Raw Selection's services, explaining the firm's focus on executive searches for private equity-backed businesses.[17:24] Geoff discusses the importance of managing debt properly and avoiding over-leverage in portfolio companies.[18:23] Avoiding the mistake of using short-term working capital loans for long-term growth.[19:42] Geoff explains how private equity firms motivate middle management by offering equity incentives.[21:04] The importance of instilling an “enterprise, team, individual” mindset in portfolio companies.[24:20] Geoff shares a personal anecdote about overhearing a young woman discussing her desire for a high-paying job without office work.[26:20] Geoff talks about his transition from operator to private equity investor and why he made the switch.[29:43] The best time to sell a portfolio company is on the way up, not at the top.[31:10] Geoff explains the importance of setting up the right structure to allow CEOs to focus on future growth, not just day-to-day operations.[32:34] Geoff shares that his passion stems from mentoring young professionals and imparting knowledge. You can connect with Geoff Lurie on LinkedIn by visiting his profile here. To be added to the book waitlist, you can email alex.offer@raw-selection.com Thank you for tuning in!To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, send an email to alex.rawlings@raw-selection.com.

Welcome to the Private Equity Podcast! In this episode titled host, Alex Rawlings, dives into the insights and strategies of a seasoned executive known for his leadership in multiple private equity-backed exits. Jeffrey Stark discusses his career trajectory, highlighting his transition from corporate America to becoming a pivotal figure in private equity spaces, steering companies through significant growth and successful exits. Breakdown:[00:00] Jeffrey Stark discusses his success with multiple private equity exits. [00:11] He highlights his collaborative leadership approach, emphasizing guidance without micromanagement. [00:40] Stark recounts his transition from corporate roles to significant positions in private equity. [01:09] Focuses on challenges and strategies for leading companies to successful private equity exits. [01:37] Insights into his proactive career approach in the private equity sector. [02:33] The value of independent board members in providing unbiased support and expertise. [03:46] Benefits of experienced board members for guidance in unfamiliar business areas. [04:44] Operational focus on lean manufacturing and quality improvements. [06:09] Discusses the transition from CEO to advisor roles, and the dynamics involved. [07:33] Tactics for building trust with CEOs and preparing them for board meetings. [09:01] How he has guided marketing strategies through CEOs, fostering a partnership approach. [10:17] Stark shares experiences on cultural and operational challenges in mergers and acquisitions. [12:49] The importance of transparent communication during transitions. [14:05] Financial strategies and accountability in managing private equity-backed companies. [15:20] Leadership development within teams to foster a culture of innovation.  [18:14] Insights into global economic factors influencing private equity. [19:05] Ethical considerations and corporate governance in the sector. [20:21] Predictions on the evolving landscape of private equity and the role of technology. [21:40] Advice for aspiring private equity professionals based on extensive experience. [22:58] A case study of a successful exit, detailing strategic decisions involved. [24:15] Discussions on work-life balance and managing stress in leadership roles. [25:30] The role of mentoring and support systems in his career. [26:45] Innovation in maintaining business competitiveness. [28:00] His involvement in philanthropy and corporate social responsibility. [29:15] Strategies for managing international business and cross-cultural teams. [30:30] Thoughts on leadership succession planning. [31:45] Personal and professional development influences. [33:00] Future plans and continued impact on the industry. [34:15] Invitation to connect for further insights and collaboration opportunities. [35:30] Closing remarks. You can connect with Jeffrey Stark on LinkedIn by visiting his profile here.  Thank you for tuning in!To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, send an email to alex.rawlings@raw-selection.com.

Welcome to The Private Equity Podcast by Raw Selection! In this episode, our host, Alex Rawlings, is joined by Jordan Burton, co-founder of Talgo. Together, they delve into the intricacies of talent interviewing and assessment within the private equity sector. Jordan brings a wealth of knowledge from his transition from a potential private equity investor to an expert in executive talent assessment. This discussion promises to enlighten those interested in optimizing their hiring processes and understanding the common pitfalls and best practices in recruiting top-tier executives.  [00:00] Introduction to Jordan Burton, specializing in talent interviewing and assessment.[00:16] Discussion on timely decision-making in human capital issues.[00:44] Jordan shares his career transition to executive talent assessment.[01:12] Insights into Jordan's career evolution and the founding of Talgo.[02:11] Importance of proper interviewing techniques in talent acquisition.[03:07] Indicators of when to act on personnel changes.[04:06] Consequences of being overly accommodating in personnel decisions.[05:02] Deep dive into interviewing and hiring processes.[06:01] Setting clear expectations and metrics for new executives.[08:22] Characteristics of effective private equity executives.[10:19] Traits that define a top executive in private equity.[12:15] Importance of quantitative skills in executives.[13:13] Techniques used in interviewing executives about their past experiences.[15:05] Importance of detailed discussions about past roles and achievements.[18:27] Systematic assessment in identifying leadership qualities.[20:26] Nuances of executive onboarding and performance tracking.[22:10] Organizational dynamics and internal politics in hiring.[24:06] Future trends in executive hiring, including technology impacts.[26:01] Importance of adaptability and continuous learning in talent acquisition.[28:26] Final thoughts on the evolution of the talent acquisition field.[30:52] Methodologies for developing leadership pipelines in portfolio companies.[33:18] Common pitfalls in the executive search process and avoidance strategies.[35:44] Role of diversity and inclusion in executive hiring.[38:09] Jordan reflects on the mentors who shaped his career.[40:33] Tips for building a career in talent management within private equity.[42:57] Advice for maintaining a competitive edge through strategic talent management.[44:31] Closing remarks by Alex, encouraging listener engagement and subscription. You can connect with Jordan Burton on LinkedIn by visiting his profile here. Thank you for tuning in!To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, send an email to alex.rawlings@raw-selection.com.

Welcome to the Private Equity Podcast! In this episode, Alex Rawlings welcomes back Brad Nathan, a seasoned private equity firm founder, to dive into the intricacies of starting and managing a PE firm. Brad shares first-hand experiences, detailing the triumphs and tribulations he's encountered and offering a comprehensive guide for navigating the competitive private equity landscape.Episode Timestamps:[00:00] Introduction of today's topic and guest, Brad Nathan.[01:15] Exploration of Brad's early career and the motivations behind starting his private equity firm.[03:30] Challenges faced during the initial setup of the firm, including capital raising and team assembly.[06:45] Strategies Brad implemented to overcome initial failures and secure the firm's first successful deals.[10:20] Key decisions and strategies that fueled the firm's growth and expansion.[13:50] Insights into the recruitment, culture building, and leadership styles vital for a successful PE firm.[18:30] Stories of the highest highs and lowest lows in managing the firm.[22:10] The most valuable lessons learned throughout Brad's career and advice to aspiring private equity firm founders.[25:40] Predictions on emerging trends and the evolution of the private equity industry.[29:00] Listener Q&A session with Brad on specific challenges and advice on various scenarios in private equity.[33:15] Summary of key insights shared by Brad and closing remarks. You can connect with Brad Nathan on LinkedIn by visiting his profile here. Thank you for tuning in!To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, send an email to alex.rawlings@raw-selection.com.

Welcome to The Private Equity Podcast! In this episode, we're diving deep into the world of investments with a focus on sub $5M EBITDA companies. Our guest is Mason Myers, Founder and Managing Partner of Greybull Stewardship. Mason's expertise lies in navigating and scaling smaller, often overlooked businesses, and he's here to share valuable insights on how to unlock potential and drive growth in this niche market. [00:00] Alex Rawlings introduces the podcast and today's focus on investing in sub $5M EBITDA companies with guest Mason Myers.[00:13] Discussion on Grable Stewardship's Gravel Strategy, targeting pre-middle market businesses with less than $5M in profit.[00:24] Alex welcomes Mason Myers, Founder and Managing Partner of Greybull Stewardship, to the podcast.[00:48] Alex invites listeners to connect on LinkedIn before diving into the conversation with Mason.[01:13] Mason shares his background from journalism to founding Greybull Stewardship, his experience with startups, acquisitions, and his shift to private equity.[02:34] Mason highlights common mistakes by private equity firms and portfolio companies, stressing the need to listen to founders and choose intermediaries carefully.[04:27] Mason explains Greybull Stewardship's focus on pre-middle market businesses, the firm's mission, and its commitment to this underserved space.[06:44] Mason addresses unique risks in sub $5M EBITDA investments and how Greybull manages these risks, focusing on sustainable business models.[09:08] Mason discusses strategies for scaling businesses post-investment, improving operational fundamentals, and expanding management teams.[10:12] Mason details Greybull's diligence process and collaboration with management teams to enhance business value.[12:29] Mason emphasizes the role of operating partners in creating value over financial engineering, noting Greybull's focus on operating experts.[16:12] Mason advises businesses on increasing value before engaging with private equity, covering accounting practices, revenue predictability, and growth initiatives.[19:29] Mason shares strategies for maintaining deal flow in a slow market and how Greybull uses referrals and intermediaries to find opportunities.[20:27] Mason offers tips on selecting the right intermediary and invites a 20-minute brainstorming session to assist business owners.[21:26] Mason discusses his influences, including Warren Buffett and Charlie Munger, and his interest in biographies and historical figures.[24:17] Alex concludes the podcast. You can connect with Mason Myers on LinkedIn by visiting his profile here. Thank you for tuning in!To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, send an email to alex.rawlings@raw-selection.com.

Welcome to the Private Equity Podcast!  In this episode, we explore "Private Equity and Technology Transformation" with Alan Williamson. Alan, a seasoned CTO and operating partner, shares insights from his journey—from embedded engineering to navigating Enterprise Java and PE due diligence. He emphasizes crucial operational details affecting portfolio companies, such as cybersecurity and data ownership, and discusses the evolving role of technology in PE.[00:10] Social engineering is still the number one way to hack a company.[00:17] Introduction of guest Alan Williamson, CTO, operating partner, and author.[00:46] Discussion on technology transformation, pitfalls in private equity, and opportunities pre and post-deal.[01:13] Shares background from embedded engineer to Java development and entry into private equity.[02:08] Discusses common mistake in portfolio companies: neglecting operational details like domain ownership and software subscriptions.[03:30] Anecdote on operational oversight challenges in companies due to misplaced responsibilities.[04:29] Highlights key red flags in due diligence, emphasizing over-reliance on individual technical knowledge within companies.[05:53] Discussion on technology enablement in private equity and the evolving role of specialized operating partners.[08:17] Contrasts in-house technical expertise with external consultancy services in private equity firms.[09:44] Pre-deal considerations including data ownership and regulatory compliance.[10:37] Security concerns in acquisitions, emphasizing cybersecurity diligence and compliance across different states.[14:37] Discusses social engineering as a primary hacking method in corporate security breaches.[15:00] Post-deal implementation strategies including securing operations and aligning with PE firm objectives.[18:58] Maximizing data value through machine learning and leveraging historical data for business insights.[21:23] Personal influences and recommendations, highlighting interests in movies and older business literature.[23:46] Alex Rawlings wraps up the podcast. You can connect with Alan Williamson on LinkedIn by visiting his profile here. Thank you for tuning in!To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, send an email to alex.rawlings@raw-selection.com.

Send us a Text Message. Welcome to the Private Equity Podcast! In this episode, host Alex Rawlings dives into a rich conversation with Nathan Sanders. From navigating financial constraints during the pandemic to tackling add-on acquisitions and integrating technology effectively, Nathan shares valuable insights gained from his extensive experience in leading Private Equity-backed businesses. Tune in to glean lessons on leadership, growth strategies, and the importance of a growth mindset in the world of Private Equity. [00:12] Introduction to the episode, highlighting Nathan Sanders' experience as a Private Equity-backed CEO in various industries.[01:35] Nathan Sanders introduces himself as a value-driven leader, emphasizing his focus on transformation and continuous improvement.[02:32] Discussion on the common mistake of focusing too much on short-term challenges rather than long-term value creation in Private Equity-backed companies.[04:52] Strategies for shifting focus towards long-term value creation during the middle phase of Private Equity investments.[08:04] Nathan shares lessons learned from leading Brooke Furniture through challenges and towards a successful exit.[12:17] Processes implemented to gather intelligence on customer service needs, including direct interactions with customers and team members.[15:32] Refinement of processes to automate simpler tasks, allowing the team to focus on addressing exceptions and improving service delivery.[16:29] Nathan Sanders discusses the impact of understanding customer needs and team alignment on business success, leading to increased KPIs and decreased variable costs.[17:29] Sanders talks about tackling financial constraints during the pandemic and other industry headwinds by redeploying resources and focusing on revenue growth.[20:09] Discussion on mitigating financial risks during challenging times and leveraging opportunities for revenue growth through strategic decision-making.[20:38] Sanders shares advice for portfolio executives on managing acquisitions, emphasizing the importance of understanding the purpose behind acquisitions and building in risk factors.[26:56] Insights from Sanders on successful integration strategies for acquisitions, including understanding the end goal, focusing on process mapping, and fostering a growth mindset within the team.[29:46] Sanders discusses lessons learned from working with both large and small companies, highlighting the importance of technology implementation and process mapping in driving efficiency and growth.[32:34] Discussion on prioritizing technology investments based on customer-facing needs and optimizing processes for maximum impact on revenue growth.[36:22] Recommendations from Sanders on books and podcasts, including "The Fixed Versus Growth Mindset" by Carol Dweck, "What Got You Here, Won't Get You There" by Marshall Goldsmith, and the Founders Podcast with David Sentra.[42:05] Insights from Sanders on fostering a growth mindset within teams, effective communication strategies, and recommendations for further engagement through LinkedIn and personal email.You can connect with Nathan Sanders on LinkedIn by visiting his profile here.Thank you for tuning in!To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, sen

Send us a Text Message. Welcome to the Private Equity Podcast! In this episode, host Alex Rawlings engages in a dynamic discussion with Nick McLean, founder of Four Pillars Investors, on the topics of servant leadership and disruptive marketing in the Private Equity sector. Join us as we delve into Nick's insights and experiences in navigating the complexities of the industry. [00:00] Hosted by Alex Rawlings, featuring Nick McLean. Discussion on servant leadership and disruptive marketing in Private Equity.[00:12] Nick McLean, founder of Four Pillars Investors and creator of Nick McLean Private Equity YouTube channel.[00:42] Nick McLean, co-founder of Four Pillars Investors, targeting lower middle market companies with untapped growth potential.[01:09] Not all firms are equal; some are overly spreadsheet-driven. Four Pillars Investors prioritizes entrepreneurial problem-solving over rigid financial analysis.[03:03] Nick's shift from business operator to Private Equity investor, emphasizing portfolio growth and development.[04:52] Prioritize relationship-building; establish rapport before closing deals. Four Pillars Investors focuses on strong, pre-existing relationships.[07:41] Named after core values: Relationships, Servant Leadership, Challenge the Status Quo, Persistence.[09:27] Focus on helping team members succeed; create positive work environments and prioritize career development.[14:49]  Nick's decision to start a YouTube channel differentiates Four Pillars Investors, aims to provide valuable content and build relationships.[18:17] Content creation and branding are long-term investments; intent and commitment are crucial for success.[22:09] Studying leadership principles; recommended book: "Influence: The Psychology of Persuasion" by Robert Cialdini.[24:30] Contact details for Nick - Email: nmclean@example.com; YouTube Channel: Nick4FourPillars.[25:55] Thank you to Nick McLean for sharing insights; subscribe to the Private Equity Podcast for weekly episodes.To connect with Nick, visit his LinkedIn profile at: Nick McLean LinkedIn Thank you for tuning in!To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, send an email to alex.rawlings@raw-selection.com.

Send us a Text Message.Welcome to The Private Equity Podcast! In this episode, host Alex Rawlings discusses the critical factors behind deal failures and how to steer clear of them. Brian Scanlon from DealGen Partners shares insights on deal origination and sales processes. He stresses prep and presentation, akin to staging a house for sale. Brian pinpoints reasons for deal failures: unprepared sellers, messy finances, and unrealistic valuations. He also covers effective deal structures, boosting multipliers, and seller challenges like cultural clashes and prolonged due diligence. Key takeaway: swift action and clear communication are vital to keep deals on track. Tune in for expert advice on selling a company successfully and avoiding pitfalls.[00:00] Alex Rawlings introduces the topic of selling a company and the challenge of achieving high multipliers. He welcomes Brian Scanlon, noting his previous podcast on deal origination.[01:18] Brian Scanlon discusses the common reasons deals fail, primarily due to sellers being unprepared. He explains the importance of proper preparation and packaging, akin to staging a house for sale.[03:40] Brian estimates that nearly all proprietary deals are unprepared and outlines why private equity funds prefer these deals despite the lack of preparation.[04:39] Brian highlights the role of investment bankers in managing the sale process efficiently, similar to selling a house, and stresses the need for sellers to be upfront about financials and issues.[07:30] Brian identifies the lack of clean financials and unrealistic valuation expectations as major reasons deals fail. He emphasizes the importance of accurate financial statements and realistic deal structures.[09:52] Brian explains typical deal structures, including cash at close, earnouts, and equity rollovers, and stresses the importance of understanding these structures before going to market.[11:17] Brian discusses factors that increase a company's multiplier, such as recurring revenue, customer retention, and quality contracts. He uses the staffing industry as an example to illustrate these points.[14:13] He explains the challenges of project-based businesses with high customer churn and declining revenue, which generally have lower multipliers.[16:06] Brian talks about why sellers back out of deals, citing cultural misalignment, process frustration, and the length of the due diligence period as primary reasons.[19:56] He notes that tighter debt markets and more rigorous due diligence are causing deals to take longer, increasing the risk of the business not appearing as attractive by the closing date.[22:50] Brian emphasizes the importance of effective communication to keep deals moving and shares examples where delays led to deals falling through. He advises completing the due diligence period quickly to avoid deal collapse.[25:46] Alex asks for top advice.  [26:20] Alex thanks Brian for joining him on the podcast. To connect with Brian, visit his LinkedIn profile: Brian Scanlon LinkedIn Thank you for tuning in!To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, send an email to alex.rawlings@raw-selection.com.

Send us a Text Message.Welcome to The Private Equity Podcast! In this episode, host Alex Rawlings is joined by Paul Swaney, Managing Director of Swaney Group Capital. Formerly with Partners Group and a veteran of McKinsey and Amazon, Paul dives into the intricate world of value creation from an operator turned investor perspective. He shares his journey from the military to the forefront of private equity, discusses the innovative use of media for business growth, and details the strategic operational frameworks that have shaped his successful career. Join us as Paul provides a deep dive into his approach to enhancing portfolio company performance and his insights on the pivotal role of transformation governance in private equity.Breakdown: [00:00] Introduction to Paul Swaney, discussing his transition from Partners Group to founding Swaney Group Capital.[00:10] How Paul uses media to enhance his Private Equity firm's outcomes.[00:22] Mention of a successful investment initiated from Twitter.[00:25] Overview of Paul's career and insights into his value creation strategies in Private Equity.[00:55] Paul provides a detailed background of his diverse experiences from military service to corporate roles and Private Equity.[01:24] Insights into applying lean system in a chemical plant and his recruitment by McKinsey.[02:21] Challenges of starting his own Private Equity firm during peak deal flow times and growing his team.[03:17] Common mistakes in Private Equity from deal processing to post-acquisition management.[04:45] Lessons from Partners Group and the importance of transformation governance post-acquisition.[06:04] Introduction to the Swaney Group Operating System, focusing on operational excellence.[07:30] Discussion on maintaining flexibility and strategic planning in business operations.[09:25] Paul's effective use of social media for deal origination and brand building.[10:24] Emphasis on the initial 100-day observational period post-acquisition to understand business intricacies.[12:16] Typical patterns observed in founder-led businesses and strategic advice for potential acquisitions.[14:43] Importance of strategic operational assessments in Private Equity investments.[18:27] Paul discusses leveraging media for enhancing visibility and deal flow in Private Equity.[19:25] Success stories from using Twitter for business development and investment opportunities.[21:17] Closing thoughts on the integration of operational systems within Private Equity to enhance performance.To connect with Paul, you can visit his LinkedIn profile at Paul Swaney LinkedIn.Thank you for tuning in!To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, send an email to alex.rawlings@raw-selection.com.

Welcome to The Private Equity Podcast! In this episode, host Alex Rawlings talks with Chris Jamroz, CEO of Roadrunner and a former executive at Ascent Global Logistics. Chris shares his extensive experience in logistics and Private Equity, discussing the transition from investment banking to executive leadership. He highlights the common errors in Private Equity, such as focusing too heavily on past performance instead of potential growth, and offers advice on effective leadership and strategic investment. Chris also provides insights into navigating the cyclical nature of the logistics industry and emphasizes the importance of operational expertise in achieving successful exits. This episode offers valuable perspectives on leadership and investment strategies in Private Equity.Breakdown: [00:00] Introduction to the podcast and guest Chris Jamroz, highlighting his commitment and unique approach to running a business.[00:16] Chris reflects on the critical factors contributing to his success over the past four years.[00:26] Chris offers advice on being a successful Private Equity-backed CEO.[00:46] Overview of Chris's career trajectory from investment banking to leadership roles in logistics, and the recent sale of Assent to HIG.[01:16] Start of the in-depth conversation with Chris, exploring his strategies and experiences across various roles.[01:46] Chris shares his approach as a "shareholder value unlocking specialist" and his operational playbook across the global supply chain.[02:12] Discussion on common mistakes in Private Equity and portfolio companies, with historical context and advice for modern practices.[03:58] Chris critiques the backward-looking focus of Private Equity firms and emphasizes the importance of future potential in investment decisions.[06:21] Chris elaborates on the need for a paradigm shift in Private Equity from past performance to future potentialities.[07:19] Inquiry into balancing the evaluation of past performance and future potential in Private Equity investments.[10:15] The significance of having a strong operations team in achieving successful outcomes in Private Equity ventures.[13:39] Mention of Grata, highlighting its role in enhancing proprietary deal flow with data-driven processes.[14:07] Chris provides insights into the logistics industry, discussing its trends and cyclicality.[18:27] Detailing the process and challenges faced during the recent sale of Assent Global Logistics to HIG.[22:18] Chris shares the personal and professional challenges he faced from taking office to navigating company exits.[26:47] Advice to Private Equity-backed chief executives on understanding and adapting to business realities.[33:07] Chris discusses his personal influences and reading habits, emphasizing the value of learning from both successes and failures.[39:13] Closing remarks and ways to contact Chris Jamroz for further insights and discussions.To connect with Chris, you can visit his LinkedIn profile at Chris Jamroz LinkedIn. Thank you for tuning in!To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, send an email to alex.rawlings@raw-selection.com.

Welcome to The Private Equity Podcast! In this episode, host Alex Rawlings chats with Dan Cremons, Founder of Accelera Partners, and discusses the integration of human capital into Private Equity value creation, emphasizing proactive talent management. He shares insights on optimizing teams, strategic hiring, and the significance of due diligence on leadership before acquisition. Cremons stresses learning from hiring mistakes, recognizing biases, and evolving human capital practices. He advocates for nuanced talent assessment, including development and coaching. Resources influencing his approach to value creation and human capital in private equity are also shared.Breakdown:[00:00] Introduction to the concept of surgically approaching value creation.[00:18] Discussion on common hiring mistakes rooted in cognitive biases.[00:30] Introduction of Dan Cremons, founder of Accelera Partners, and an overview of his background in Private Equity.[00:59] The focus shifts to the importance of talent, hiring processes, due diligence, and the use of scorecards.[01:29] Dan Cremons shares his journey from finance to Private Equity and founding Accelera Partners.[02:56] Key mistake Private Equity firms make: a reactive approach to value creation.[04:22] The evolving importance of proactive value creation in a competitive Private Equity space.[05:21] Explanation of value creation and its fundamental meaning.[07:16] The critical role of people in driving value creation.[09:12] Introduction to people planning and its importance.[13:20] The ongoing process of aligning talent with the company's evolving needs[17:38] Discussion on the iterative effort of people planning throughout an investment.[20:02] Personal reflections on learning from hiring mistakes.[23:42] The evolution of human capital practices in Private Equity.[27:02] Importance of professional training in interviewing and hiring.[30:44] Due diligence on portfolio companies' executive teams pre-acquisition.[34:03] The broader scope of organizational due diligence, including leadership, talent, culture, and capabilities.[37:18] Dan Cremons shares his influences and recommended resources.You can connect with Dan Cremons on LinkedIn by visiting his LinkedIn Page - Link to Dan Cremons' LinkedInThank you for tuning in!To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, send an email to alex.rawlings@raw-selection.com.

Welcome to The Private Equity Podcast! In this episode, host Alex Rawlings engages with Chris Parisi, a partner at Carl Marks Advisors, to discuss how Private Equity firms can more effectively engage with business owners and founders to secure successful deals. Parisi shares insights from his extensive experience in middle-market investment banking, focusing on the nuances of working with family-owned and privately held businesses. He emphasizes the importance of understanding and respecting the unique challenges these businesses face, such as customer concentration and the need for a cultural fit beyond mere financial valuation. Throughout the discussion, Parisi offers advice on building trust with business owners, the current and future M&A outlook, and how Private Equity firms can adapt their strategies to ensure mutual success in acquisitions.Breakdown: [00:00] Alex Rawlings introduces the Raw Selection Private Equity Podcast, welcoming Chris Parisi to discuss Private Equity strategies.[00:12] Chris traces his career from Ernst & Young to the Blackstone Group and his current role at Carl Marks Advisors.[01:12] Insight into Chris's career shifts and his significant move to Blackstone Group.[01:42] Chris discusses the evolution of fund sizes he has managed, from his early career to present multi-billion dollar funds.[02:12] He explains his academic and professional journey in middle market investment banking post-MBA from Northwestern.[02:42] Overview of Carl Marks Advisors' focus on middle market M&A and family-owned businesses.[03:09] Chris highlights challenges like customer concentration in family-owned business M&A.[04:04] Insights on how Private Equity firms may miss opportunities by strictly adhering to their investment criteria.[05:30] Emphasis on the importance of recognizing management team strengths in investment strategies.[05:59] Discussion on the 2024 middle market M&A outlook, considering interest rates and earnings visibility.[07:56] Predictions of increased deal flow activity in late 2024 and 2025 due to more predictable earnings.[09:50] How Private Equity firms can build acquisition confidence through predictable financial projections.[10:46] Factors influencing the shallow M&A market of 2023, including COVID-19 and supply chain issues.[14:18] Chris discusses the need for strategic adjustments in supply chain management post-pandemic.[17:15] Insights into why family business owners decide to sell, driven by personal motivations and life events.[18:14] What business owners seek in Private Equity firms beyond financials, like cultural fit and growth plans.[21:09] Effective engagement strategies for Private Equity firms with business owners during acquisitions.[25:30] Chris shares his personal influences and recommended readings.[28:27] Closing remarks and contact information for Chris Parisi for further M&A insights.To connect with Chris, you can visit his LinkedIn profile at Chris Parisi LinkedIn. Thank you for tuning in!To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, send an email to alex.rawlings@raw-selection.com.

Welcome to The Private Equity Podcast! In this episode, host Alex Rawlings speaks with Rocío Heres, Partner at AltamarCam Partners and discusses the competitive nature of capital raising in Private Equity, stressing the value of talent development and succession planning for long-term success. She highlights the shift towards specialization in the industry and the importance of aligning with LP expectations in fundraising efforts. Rocío shares insights from her international career and addresses the balance between professional success and personal life, advocating for increased female representation in Private Equity. Contact details for further conversations with Rocío are also provided.Breakdown:[00:00] The competitive landscape for capital in Private Equity is discussed.[00:16] Rocío Heres, a partner at AltamarCam Partners, is introduced. The episode promises insights on strategies to attract more capital and women into Private Equity, career advice, and more.[01:14] Rocío shares her background, highlighting her role in Private Equity investments in North America.[02:07] The common mistake of Private Equity firms taking their people for granted is discussed, emphasizing the importance of fostering a family-like environment and career growth.[03:05] The necessity for clear succession planning and career path development within private equity firms to ensure long-term success.[04:29] Rocío talks about observing the evolution of Private Equity firms and the importance of stable, process-oriented firms that focus on repeatable and understandable processes.[07:21] The challenges and opportunities in a competitive capital market are discussed. Rocío emphasizes the importance of sticking to core investment strategies and learning from various Private Equity firms.[10:34] The trend towards specialization within Private Equity firms is noted, including sector-focused and generalist firms developing expertise in specific areas.[13:41] Rocío comments on the changing fundraising landscape and the increasing effort by Private Equity firms to understand LP needs.[17:21] The benefits of having an international career and Rocío's experiences working in different countries are shared.[20:07] Cultural differences and the welcoming nature of the North American market are discussed.[22:29] Rocío talks about her influences, focusing on staying updated with market trends and developments, especially in the secondary market.[24:24] Addressing the gender gap in Private Equity, Rocío emphasizes the possibility of balancing a successful career and family life within the industry.[28:05] Contact information for Rocío is provided, encouraging listeners to reach out for advice or discussion.You can connect with Rocio Heres on LinkedIn by visiting her LinkedIn Page here.Thank you for tuning in!To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, send an email to alex.rawlings@raw-selection.com.

Tom is joined by Alex Rawlings, primary headteacher, plus assorted teacher-callers who share their views on the recent controversy regarding this corridor. Does corridor decor matter? Is it a reflection on school culture? Where does school design fit in with school performance? Listen to this discussion to find out! 

Morty Singer joins Alex Rawlings on The Private Equity Podcast to discuss the importance of culture in private equity, investing in the consumer industry, and more. Alex Rawlings is the Founder & Managing partner of Raw Selection, an executive search firm that specializes in working with Private Equity firms and their portfolio companies across Europe and North America. On his podcast, Alex interviews the leading experts in the Private Equity industry to unlock their secrets of success.