The Private Equity Podcast, by Raw Selection An investors value creation plan for $100M+ revenue companies
Dec 23, 2025
In a captivating discussion, Eric Wiklendt, Managing Director at SpeySide Equity, shares his insights from decades of operational and private equity experience. He delves into his 'fix and build' strategy for enhancing lower-middle-market manufacturers, emphasizing EBITDA improvement and strategic growth. Eric reveals the critical role of aligning human capital and warns about the dangers of poor cost accounting. He highlights the importance of hiring leaders with operational backgrounds and stresses the need for transparency during due diligence.
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Fix And Build Value System
- SpeySide uses a two-phase “fix and build” system: Phase 1 restores EBITDA margins, Phase 2 drives growth.
- This operator-led, process-driven approach targets manufacturing businesses $100M–$500M in revenue.
Prioritize Three High-Impact Levers
- Prioritize three levers: align and incentivize management, rationalize the revenue portfolio, and optimize the operational footprint.
- Focused execution on these high-impact areas yields most phase-one EBITDA gains.
People Are The Main Friction Point
- Human capital alignment is the biggest friction in phase one and can create or destroy value.
- Execution succeeds when people understand and are incentivized to deliver the deal thesis.