The Private Equity Podcast, by Raw Selection Rick Brawn on Transitioning from Running Companies as CEO to Becoming an Operating Partner
Today's Guest
Today we welcome Rick Brawn, Operating Partner at GenNx360, an operationally focused Private Equity firm that invests in industrial and business service companies.
After receiving his engineering degree from MIT, Rick joined Pratt and Whitney, an engine company part of United Technologies.
He was with the company for 17 years, achieving his masters and MBA in engineering, holding various different positions and even moving to 6 different countries with his wife and 4 children to go where the company needed him.
5 years ago he made the transition to working for GenNx360 as Operating Partner and now lives in Florida.
What’s in this episode?
In today’s episode Rick explains how he transitioned from running companies as the former Managing Director of Rolls Royce and Pratt & Whitney, to working for a Private Equity firm as an Operating Partner and the steep learning curve that came with that transition.
What you'll learn
- Why it’s vital for Portfolio Companies to fully understand the Investment thesis
- What to do as a CEO if your firm is being acquired by Private Equity
- What exactly is the role of Operating Partner
- How Rick made the transition from being CEO to Operating Partner, never having worked in Private Equity before
- The steep learning curve Rick experienced coming into the Private Equity industry
- The best way to really learn more about PE
- The main challenges Rick faces as an Operating Partner
- Rick’s advice for anyone looking to make the move to an Operating Partner role
Breakdown
2:36 - What one mistake do you see PE firms or Portfolio Companies making
4:03 - Advice for a CEO of a business being acquired by a PE firm
6:04 - How do you define the role of Operating Partner
8:04 - How involved in the deal process are Operating Partners?
10:29 - How Rick transitioned from running companies as MD/CEO to working for the PE firm as Operating Partner
18:39 - Main challenges faced as an Operating Partner
20:12 - What advice would you give someone looking to make the move to Operating Partner
27:00 - The three attributes that make a top performing executive
32:08 - Rick’s likes and dislikes in the Private Equity industry
39:30 - Rick’s experience with being blindsided
42:17 - What advice would Rick give to his 20-year-old self?
Resources
https://www.linkedin.com/in/operatingpartner/
https://gennx360.com/team-info/rick-brawn
https://www.rolls-roycemotorcars.com/en_GB/home.html
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