Private Equity Spotlight: Lessons in Leadership and Growth with Casey Myers
Jan 8, 2025
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In this engaging discussion, Casey Myers, a partner at Edison Partners, shares his extensive experience in private equity focusing on leadership and sustainable growth. He highlights how his collaboration with 52 firms shaped his view on operational value creation. Casey emphasizes the importance of strong leadership character and addressing technology debt for company success. He advocates for a people-first approach to build high-performing teams and reveals his advice to embrace diverse experiences for personal and professional growth.
Casey Myers emphasizes the significance of leadership character in founder-led organizations for fostering positive culture and talent retention.
Edison Partners adopts a people-first approach to enhance leadership development and create sustainable growth in portfolio companies.
Deep dives
The Operator's Shift to Private Equity
Casey Myers shares his transition from a 24-year operational career to a role in private equity, emphasizing that his experience as an operator provides valuable insights into investment decisions. He highlights his exit process that began just before the onset of the COVID-19 pandemic, an event that challenged many operators due to its unpredictability in capital allocation and valuations. The countless meetings with private equity firms revealed a common shortfall: many lacked genuine operational support, focusing only on capital without understanding the nuances of building businesses. This realization drove him to join Edison Partners, aiming to improve the operator support in private equity and contribute to a more holistic approach to value creation.
Character and Leadership in Business Growth
In evaluating potential investments, Myers underscores the critical importance of the character of company leaders, particularly those in founder-led organizations. He notes that strong leader character often correlates with a positive organizational culture and retention of talent, making it a key component of a company’s success. Furthermore, he advocates for prioritizing product-market fit, emphasizing that solutions should address genuine customer pain points rather than be mere luxuries. This correlation between addressing pain points and a company's growth potential fosters a more sustainable and profitable business model.
The Challenge of Tech Debt in Growth Equity
Myers addresses the issue of tech debt that many growing companies face, which can be a significant barrier to scaling operations effectively. He explains that founders often struggle to conceptualize the long-term implications of their technical infrastructure and how it might impact their capacity to meet growth demands. As a growth equity investor, Myers stresses the necessity of understanding and managing tech debt, pointing out that excessive technical liabilities can stifle innovation and slow company growth. Identifying and mitigating tech debt early can enable a company to pivot effectively and scale sustainably.
The Value of People-Based Strategies
Edison Partners emphasizes a people-first approach in their value-creation strategy, distinguishing their method from traditional metrics of financial success alone. Myers explains that the firm's operator-centric culture enables them to enhance the performance and effectiveness of leadership within their portfolio companies. This approach focuses not just on hiring talent but also on upskilling and developing existing teams, fostering a high-functioning environment. By prioritizing leadership development and team dynamics, Edison Partners aims to create a resilient organizational structure that is capable of thriving in competitive markets.
In this episode, Sean Mooney speaks with Casey Myers, partner at Edison Partners, about leadership, value creation, and growing businesses in the lower middle market. Casey shares his unique operator-driven perspective on driving sustainable growth, evaluating leadership, and solving pain points for customers. Episode Highlights:
2:37 - Casey shares how his experience with 52 private equity firms during an exit process inspired his focus on operational value creation.
8:11 - Casey describes the key foundations of a good company: leadership character, solving customer pain points, and addressing technology debt.
16:11 - Casey explains how Edison Partners uses a people-first approach to support leadership development and build high-performing teams.
23:54 - Casey highlights the importance of aligning priorities and systematically investing in people to create sustainable growth.
32:23 - Casey’s advice to his younger self: embrace a broad range of experiences and lean into opportunities to develop versatile skills.