Private Equity Value Creation Podcast Ep. 88: Eliot Kerlin, Broadwing Capital | Building Value in the Lower Middle Market with an Operational Playbook
Sep 4, 2025
Eliot Kerlin, Co-Founder of Broadwing Capital, shares insights from his journey from Wall Street to private equity. He discusses a five-part framework for driving value in the lower middle market, emphasizing operational expertise and talent development. Eliot highlights the importance of building strong relationships and collaboration to enhance performance. He also reveals strategies for prioritizing initiatives amidst limited resources, showcasing how investing in human capital leads to successful transformations and long-term success.
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Systematic Five-Part Playbook
- Broadwing uses a codified five-part playbook to create consistent value across lower-middle-market deals.
- The playbook centers on fortifying the foundation, scaling growth, talent, stakeholder impact, and exit planning.
Start With A 120-Day Foundation Plan
- Start every deal with a 120-day Fortify the Foundation plan and a 10-day hot list for immediate post-close tasks.
- Use this window to lock down cash control, reporting, risk management, and initial KPI frameworks.
Document Processes To Scale
- Many lower-middle-market companies operate by rote and lack documented processes and repeatable systems.
- Writing down core processes and building technology around them is essential to scale and replicate success across locations.
