Podcast
The Private Equity Podcast, by Raw Selection
Hosted by Alex Rawlings · EN
Hosted by Alex Rawlings, Managing Partner of Raw Selection, a specialist executive search firm. Join us as we interview the leading experts in Private Equity, unlocking their secrets of success to share with you.
Discover how some of the top Private Equity professionals got into Private Equity, how they rose to success and learn about some of the mistakes they made along the way.
Alex has strong connections to the Private Equity industry through his executive search firm, Raw Selection, which specialises in working with Private Equity firms and their portfolio companies across Europe and North America. Alex is straight talking and to the point and aims to unlock real gold you can build into your firm or portfolio companies. Find out more at www.raw-selection.com
36episodes
Episodes
Newest firstAll episodes
Are law firms ripe for Private Equity investment
5d ago00:53:34Tap to summarizeIn this episode, Alex Rawlings speaks with Adil Taha, a private equity operator specialising in the UK legal sector. They explore why private equity has struggled to scale law firms, the challenges of buy-and-build strategies, and why many legal businesses are weaker than they appear financially.Adil shares lessons from rescuing and rebuilding Child & Child, explains why consumer legal services are attracting the most PE interest, and discusses how law firms differ from other professional services businesses. The conversation also covers the impact of AI, rising salary costs, partnership structures, and why the US legal market may offer bigger opportunities for investors.Topics Covered PE investment trends in legal services The Child & Child turnaround Why law firms are difficult to scale Problems with traditional partnership models Why buy-and-build strategies are struggling Consumer legal services vs full-service firms The role of AI and rising costs in legal Why the US market is attracting PE attention Timestamp Highlights00:00 – Introduction to Adil Taha 02:29 – Child & Child acquisition and turnaround 09:11 – Where PE is investing in legal 14:55 – The hidden weaknesses in law firms 26:51 – Why professional services are hard to scale 35:23 – Investment strategies that may work in legal 45:05 – Why PE is looking toward the US market Raw 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.🔗 Connect with Alex Rawlings on LinkedIn https://www.linkedin.com/in/alexrawlings/ 🌐 Visit Raw Selection www.raw-selection.com
Transcribe →Why Most PE-Backed Companies Are Invisible to AI Search
2w ago00:26:13Tap to summarizeIn this episode, Alex Rawlings speaks with Shiv Narayanan, CEO of How to SaaS, about how private equity firms can use marketing and AI as value creation levers. They discuss why many B2B companies underinvest in marketing, how AI is changing buyer behavior, and why brand authority and content are becoming critical for growth.Timestamps00:03 – Introduction to Shiv Narayanan and How to SaaS01:55 – Common marketing mistakes in PE-backed businesses04:15 – Finding the right marketing strategy and spend08:06 – How PE firms should assess CMOs12:49 – AI as a value creation lever14:40 – How AI search is changing buyer behavior16:02 – Why brand authority matters more than ever17:54 – AI agents and the future of marketing teams20:20 – The importance of investing in content22:44 – Why podcasts and video are growing in B2B marketing24:22 – The risk of overusing AI-generated content25:21 – Shiv’s books and final adviceKey TakeawaysMany B2B companies rely too heavily on sales and underinvest in marketing.Strong CMOs focus on revenue, forecasting, and enterprise value creation.AI platforms like ChatGPT are reshaping how buyers research solutions.Businesses need strong brands and quality content to remain visible.Podcasts, YouTube, and thought leadership content are becoming essential.Raw 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.🔗 Connect with Alex Rawlings on LinkedIn https://www.linkedin.com/in/alexrawlings/🌐 Visit Raw Selection www.raw-selection.com
Transcribe →How to manage the priorities between the executive team and the investor
3w ago00:30:34Tap to summarizeIn this episode of the Raw Selection Private Equity Podcast, Alex Rawlings speaks with Christina Haxton about the relationship between private equity firms and portfolio company leadership teams.They discuss how trust, communication, alignment, and culture impact execution during periods of rapid growth — and why many businesses struggle not because of strategy, but because of leadership friction and organizational disconnect.Timestamps00:00 – Introduction to Christina Haxton01:27 – Common execution and leadership friction points03:14 – Managing PE expectations vs operational reality05:10 – Early warning signs of leadership misalignment07:32 – Why strategy must be co-created09:27 – Building trust between CEOs and PE firms11:44 – What makes a compelling company vision17:34 – Scaling quickly without burning out teams21:12 – Why speed without alignment creates fragility23:02 – The importance of constructive conflict24:53 – Leadership resources and practical tools29:32 – How to connect with ChristinaKey TakeawaysExecution issues often come from unclear accountability and avoided conversations.PE firms and executive teams need alignment on goals, timelines, and expectations.Strong culture and trust are essential for sustainable growth.Vision must emotionally engage teams — not just focus on financial targets.Speed without alignment creates stress, confusion, and burnout.Resources MentionedScaling Up by Verne HarnishThe Five Dysfunctions of a Team by Patrick LencioniBE 2.0 by Jim CollinsRaw 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.🔗 Connect with Alex Rawlings on LinkedIn https://www.linkedin.com/in/alexrawlings/🌐 Visit Raw Selection www.raw-selection.com
Transcribe →The Hidden Mistakes Killing PE Value (And How to Fix Them)
4w ago00:17:52Tap to summarizeEpisode Summary Paul Brennan, PE-backed CFO, shares lessons from exiting Lindsay Precast (sold to The Jordan Company), covering exit prep, value creation, and integration.⏱️ Key Timestamps00:00 – Intro & Background CFO experience across PE, public, and family-owned businesses.01:23 – Common PE Mistake Lack of clarity on why data requests matter → impacts alignment.03:13 – Exit Preparation 👉 Prepare every quarter Update data room Review QoE Avoid last-minute pressure 05:07 – Data Insight Customer profitability analysis revealed hidden value drivers.06:03 – Sale Process 👉 Management must own the narrative Review CIM as an outsider 07:46 – Final Exit Lesson Working capital & closing estimates need tighter focus.08:44 – Key Win CRM rollout improved pipeline visibility and buyer confidence.11:08 – Acquisition (Dutchland) 👉 Weekly integration + team collaboration drove success.13:57 – Finance Transformation Built FP&A + BI tools Real-time data for better decisions 14:51 – Standardisation Unified processes improved scalability and exit readiness.🔑 Key Takeaways Align teams by linking actions to value creation Always be exit-ready Data visibility = competitive advantage Own your story in a sale Integration requires structure and consistency Strong FP&A drives performance Raw 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.🔗 Connect with Alex Rawlings on LinkedIn https://www.linkedin.com/in/alexrawlings/ 🌐 Visit Raw Selection www.raw-selection.comLooking to grow your team? Check out our Hiring Guidesfor proven strategies, templates, and best practices to make smarter hires.
Transcribe →From Founder to Three Exits Building a Services Company and Selling to Private Equity
May 500:24:08Tap to summarizeIn this episode, Alex Rawlings speaks with Robert Irving, CEO of Buffalo Growth Partners. Robert shares his journey from building and selling a fire & life safety business to scaling within private equity and launching his own independent sponsor firm.⏱️ Timestamps & Key Topics00:00 – Introduction Robert’s journey across founding, exiting, and re-entering private equity.00:30 – Building & Selling a Business Grew to ~80 technicians and exited at 29 Joined a PE-backed roll-up, completing 100+ acquisitions 01:21 – Biggest PE Mistake: People Misalignment of talent and roles Importance of matching personal goals with business needs 02:42 – Off-Market Sale Process Relationship-driven deal (~18 months) Shared vision and timing were key 03:40 – Why Sell? Rapid growth (3M → 12M revenue) Opportunity to scale within a larger platform 06:57 – Winning Deals Human connection over price Understanding seller motivations (legacy, growth, people) 09:18 – Scaling a Roll-Up Leadership staying close to frontline teams Challenges of tech and data integration 10:47 – Key Lessons Retaining founders drives value Equity rollovers create alignment 12:14 – Frontline Reality Change fatigue is real Strong leadership needed during integration 14:13 – Founder Retention Tailor roles to individuals “Right person, right seat” approach 16:36 – Buffalo Growth Partners Focus: service businesses (“guys in trucks”) Operator-led investment model 18:30 – Off-Market Strategy Dedicated outreach + industry credibility Aim to be the “first call” when owners sell 21:21 – Recommendations Brad Jacobs (M&A & scaling) Alpine Investors (people-first PE) Bill Gurley – Running Down a Dream🔑 Key Takeaways People alignment is the biggest driver of success Trust and credibility win off-market deals Retaining founders unlocks long-term value Execution and integration are critical Operator-led PE is gaining momentum Raw 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.🔗 Connect with Alex Rawlings on LinkedIn https://www.linkedin.com/in/alexrawlings/ 🌐 Visit Raw Selection www.raw-selection.comLooking to grow your team? Check out our Hiring Guidesfor proven strategies, templates, and best practices to make smarter hires.
Transcribe →A different approach to Private Equity with Michael Arrieta
Apr 2800:18:58Tap to summarizeGuest: Michael Arietta Host: Alex Rawlings🕒 Key Timestamps00:00 – Intro Overview of Garden City Equity’s long-term, people-first model.00:40 – Biggest PE Mistake Short-term thinking (IRR focus) limits investment in transformational initiatives like ERP, CRM, and AI.01:37 – Long-Term Hold Strategy 30-year horizon allows compounding value without forced exits.03:05 – Holding Company Model All investors share ownership across all assets—better alignment and flexibility.05:55 – Leveraging Investor Network LPs provide deal flow, diligence, and operational expertise.09:15 – Sourcing Investors Built بالكامل through personal network—no institutional reliance.10:42 – Strategic vs Institutional Capital Strategic investors add value beyond capital.13:17 – Low Debt Approach Less leverage = lower risk, more flexibility, and founder alignment.14:47 – Founder Advantage Low-debt model appeals to founders seeking stability.16:21 – Recommended ReadsUnreasonable HospitalityExcellence WinsYou Can't Hurt Me🔑 Key Takeaways Long-term ownership drives better outcomes Strategic capital creates a “virtuous cycle” Low leverage reduces downside risk Investor alignment is a competitive advantage Raw 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.🔗 Connect with Alex Rawlings on LinkedIn https://www.linkedin.com/in/alexrawlings/ 🌐 Visit Raw Selection www.raw-selection.comLooking to grow your team? Check out our Hiring Guidesfor proven strategies, templates, and best practices to make smarter hires.
Transcribe →How to Drive Organic Growth in a Private Equity Backed Company
Apr 2100:36:25Tap to summarizeAlex Rawlings speaks with Nigel Green on why private equity firms struggle with organic growth and how better hiring, faster execution, and customer focus can unlock value.⏱️ Timestamps & Key Takeaways00:00 – Introduction Nigel’s background and advisory focus00:29 – Career Highlights Two successful exits before 30 Now advising PE-backed companies on growth 01:34 – Biggest PE Mistake Weak commercial operators Overvaluing experience vs. current fit 03:05 – Growth Challenges Delayed action on underperformance Lack of urgency from investors 05:42 – Hiring Better Leaders Avoid “black book” hires Focus on Character, Chemistry, Competency Hire people with urgency and something to prove 08:35 – Go-To-Market Strategy Get close to customers early Avoid internal-only focus 10:29 – The Real Competitor Most deals are lost to “doing nothing” Solve customer inertia, not just competition 12:56 – Interviewing Sales Leaders Conversations aren’t enough Require candidates to demonstrate ability 14:38 – Attracting Top Talent Best candidates aren’t applying Sell the opportunity with honesty and realism De-risk the move 23:06 – Driving Growth Small tweaks > big overhauls Retention often a bigger issue than pipeline 26:41 – Proactive Sales Remove friction in buying Simplify and speed up decisions 30:06 – Great Operating Partners Must still be operators Help leaders make tough decisions 34:29 – Final Advice Consume less, execute more 🔑 Key Themes Hire for drive over experience Focus on execution and speed Growth comes from action, not analysisRaw 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.🔗 Connect with Alex Rawlings on LinkedIn https://www.linkedin.com/in/alexrawlings/ 🌐 Visit Raw Selection www.raw-selection.comLooking to grow your team? Check out our Hiring Guidesfor proven strategies, templates, and best practices to make smarter hires.
Transcribe →How to Double EBITDA in 3 Years The Multi-Unit Retail Playbook
Apr 1400:37:34Tap to summarizeAlex Rawlings speaks with Jeff Helfgott, CEO of Boardroom Salon, about scaling PE-backed multi-unit businesses. They discuss talent strategy, retention, resilience, and how to turn operational fixes into sustainable growth.⏱️ Key Timestamps00:00 – Introduction & Jeff’s Background From barbershop beginnings to PE-backed CEO.01:04 – Common PE Mistakes Overlooking talent strategy during diligence.02:11 – Talent Assessment Evaluating teams based on current business needs.05:58 – Hiring Non-Negotiables Integrity and focus on top 3 priorities.08:18 – Resilience in Leadership Navigating crises like COVID.10:10 – Managing Growth & Change Using EOS and quarterly planning.14:11 – Driving EBITDA Growth Fix retention before scaling revenue.16:01 – Retention Flywheel Employee retention → customer retention → growth.18:24 – Membership Strategy Aligning offerings with real customer behavior.21:18 – Finding the Real Constraint Using data segmentation to identify core issues.24:31 – Data vs Insight Combining analytics with customer feedback.27:33 – KPI Pitfalls Avoid over-optimising a single metric.28:02 – PE Thesis vs Reality Treat strategy as a hypothesis, not fact.29:12 – Underrated Growth Lever Talent retention and adaptability.32:08 – Building Resilient Teams Supporting middle management and preventing burnout.35:25 – Resources & Closing🚀 Key TakeawaysAssess talent early in diligenceIntegrity and resilience are critical traitsRetention is a primary driver of growthData must be paired with real customer insightPressure-test your investment thesisMiddle management drives executionRaw 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.🔗 Connect with Alex Rawlings on LinkedIn https://www.linkedin.com/in/alexrawlings/ 🌐 Visit Raw Selection www.raw-selection.comLooking to grow your team? Check out our Hiring Guidesfor proven strategies, templates, and best practices to make smarter hires.
Transcribe →The investing strategy in the franchising and multi-unit retail sector
Apr 700:28:23Tap to summarizeMike Esposito shares his journey from a 30-year career at Goldman Sachs to co-founding Franchise Equity Partners, highlighting their differentiated approach to private equity through franchising and multi-unit retail investing.⏱️ Key Timestamps00:00 – Introduction 00:30 – Career background and transition to PE 01:45 – Pitfalls of “me-too” PE strategies 03:13 – Leaving Goldman Sachs during COVID 04:41 – Advisory vs ownership mindset 05:36 – Why franchising & multi-unit retail 07:00 – Barriers limiting PE in franchising 08:26 – Unique LP structure with HPS 11:17 – First non-franchise deal (European car wash platform) 13:42 – Why Europe offered better value than the US 16:06 – Minority vs majority investing strategy 17:04 – “Minority, passive, permanent” model 19:28 – Importance of backing the right people 22:24 – Power of a focused investment strategy 24:27 – Using data science for investment insights 26:23 – Contact details🔑 Key TakeawaysFocused strategies outperform crowded PE tradesFranchising offers a large, undercapitalised opportunityMinority investing unlocks access to restricted sectorsLong-term alignment appeals to family-owned businessesEurope can offer stronger fundamentals vs overheated US marketsData and analytics are key to gaining an edgeRaw 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.🔗 Connect with Alex Rawlings on LinkedIn https://www.linkedin.com/in/alexrawlings/ 🌐 Visit Raw Selection www.raw-selection.comLooking to grow your team? Check out our Hiring Guidesfor proven strategies, templates, and best practices to make smarter hires.
Transcribe →Mastery of the Psychology of Change & Transformation
Mar 3100:28:21Tap to summarizeGuest: Meg Pogue, Founder, Mission SquaredHost: Alex RawlingsMeg Pogue joins Alex to discuss the psychology behind change in private equity-backed businesses. A former CEO who scaled her company from 2 to 95 employees, Meg now works with executive teams to navigate transformation, cultural friction, and the human dynamics of growth and acquisitions.The conversation explores why acquisitions and major transformations often trigger fear and resistance inside organizations. While executives are typically excited by growth and opportunity, most employees prioritize stability and social connection, both of which can feel threatened during periods of change.Meg explains how the brain’s threat response can lead to defensive behaviours, disengagement, and poor decision-making. Leaders often misinterpret this as resistance or negativity, when in reality it’s a natural psychological reaction to uncertainty.She shares practical leadership tactics for managing change effectively, including rebuilding trust through authenticity and vulnerability, empowering employees with a sense of control, and communicating the “why” behind transformation.Meg also introduces simple tools leaders can use during times of change, such as the “1–10 engagement question” and asking employees directly “How can I support you better right now?” — both designed to surface concerns quickly and maintain momentum during transformation.🕒 Timestamps00:00 – Introduction to Meg Pogue00:28 – Meg’s CEO journey and leadership lessons01:54 – Fear and perception around private equity acquisitions03:23 – Leadership personality differences during change05:14 – Why employees feel threatened by transformation06:44 – Communication and leadership during change10:59 – Rebuilding trust within teams13:25 – Empowerment and giving employees control14:51 – Leading change in fast-paced PE environments18:40 – Questions leaders should ask their teams19:07 – The “1–10 engagement” leadership tool21:30 – Raising standards without creating resistance24:51 – Leadership book recommendations26:17 – Meg’s book: The Adversity Hack27:39 – How to connect with MegKey TakeawaysChange triggers threat responsesMost employees prioritize stability and connection, making acquisitions feel risky.Executives often underestimate psychologyHigh-drive leaders assume others share their excitement for transformation.Trust accelerates changeAuthenticity and vulnerability help rebuild trust quickly.Empowerment reduces resistanceGiving employees voice and autonomy improves engagement.Clear communication mattersExplaining the “why” behind change helps teams align faster.Raw 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.🔗 Connect with Alex Rawlings on LinkedIn https://www.linkedin.com/in/alexrawlings/🌐 Visit Raw Selection www.raw-selection.comLooking to grow your team? Check out our Hiring Guidesfor proven strategies, templates, and best practices to make smarter hires.
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