Larry Hartmann, CEO of ZRG Partners

Larry Hartman, CEO of ZRG Partners dives into aligning strategic M&A with scalable growth. Larry shares how he transformed ZRG into one of the fastest-growing executive search and talent advisory firms through 17 acquisitions in just four years. They break down how to compete with strategic buyers, incentivize founders post-close, maintain deal momentum, and choose the right private equity partner to fuel long-term value.

Things You Will Learn

How to compete with strategics and win deals through culture and upside
Structuring founder incentives: equity, earnouts, employment, and non-competes
Why proprietary deal flow beats auction processes—and how to build it
The role of private equity in accelerating M&A strategy and funding

________ Try FirmRoom for Free This episode is sponsored by FirmRoom. The World’s Most Intuitive Virtual Data Room With AI Contract Analysis No Per-Page Fees. No B.S. Just Smarter, Faster Deals.

Get started with your free trial today! ________

Episode Chapters:

[00:01:00] – Larry’s entrepreneurial background and ZRG’s origin story

[00:03:30] – Lessons from being acquired by American Express

[00:04:30] – Competing with strategics: The second bite of the apple and culture

[00:07:00] – Keeping founders engaged post-close with rollover equity and vision

[00:09:30] – When M&A became central to ZRG’s growth strategy

[00:11:30] – Building the internal M&A team: CFO, corp dev, and beyond

[00:14:00] – Structuring founder incentives and employment contracts

[00:18:30] – Buyer-Led M&A in action: Vision planning and relationship-building

[00:24:30] – Retaining and incentivizing key non-founder talent

[00:30:30] – ZRG’s approach to integration: Do no harm, add value gradually

[00:35:00] – Managing valuation gaps and founder expectations

[00:43:30] – Finding the right PE partner and running a dual-track growth strategy

Coach Davit × Gil: MINDSET 🥊