How Private Equity is Settin’ Trends

In previous years, when it came to patterns and trends in our business, it was safe to say that our clients’ needs were typically based on new strategies, new products, geographic expansion, etc. However, in 2016, we started to see a rather notable change. First, there was a clear shift from new roles to replacement roles—in fact, 70% of 180one searches conducted in 2016 were for replacement positions, compared to only 45% in 2015. Second, we saw a noticeable spike in the number of clients that were backed by private equity firms. In other words, we experienced a 180% increase in PE-backed clients from 2015 to 2016. And finally, with the help of these latest trends, 2016 became the year of the CFO for 180one as the percentage of our CFO searches went up from 15% to 35%, or a 133% increase.

One could conclude that the increase in PE-backed clients drove the increase of replacement roles, specifically with the CFO position. But how are these trends interrelated? Let’s take a look.

Private Equity vs. IPO

Why are more private companies choosing to take the private equity path? Why is private equity becoming so popular? According to an “Inc. 5000” article, getting to an IPO is still “the most prestigious rite of passage in American business”. But with the ever-changing market, access to capital, the compliance cost of going and staying public, and the desire to control its own destiny - new and growing companies are taking advantage of private equity.

According to a report from Renaissance Capital, 2017 is on track to be the second least active IPO year in the last eight years, just behind 2016 (with 105 IPOs priced). And while most companies look to an IPO to raise capital, Bain & Company’s Global Private Equity Report 2017 noted that more than $2.3 trillion of “new money” has been raised by private equity firms (from buyout to venture capital to growth to mezzanine funds) in the last four years, and more than half a trillion in each of these years. That’s a lot of capital that needs to be put to work.

So, while we have addressed some of the trends that are resulting in more companies choosing private equity as a means to additional capital, let’s see how this trend impacts the shift to replacement positions and the CFO role.

The Role of the CFO in Private Equity

Since the great majority of private equity partners have strong financial acumen, PE firms place a great deal of focus on the financial performance of their portfolio companies, and the importance and breadth of the CFO has certainly evolved to address this dynamic.

Historically, the CFO was primarily responsible for ensuring accuracy in the financial statements, but, over time, CEOs are relying on their CFOs to provide the company with an “economic approach” to decision making. Answers to questions such as “should we build a new plant”, “should we expand a product line”, “should we acquire a target company”, are now being supported by the CFO’s organization.

In addition, private equity firms are interested in knowing and understanding how their portfolio companies are performing on a routine basis. While some companies they acquire already have a sophisticated level of financial reporting, most companies who are being acquired for the first time by a private equity firm have undeveloped systems to drive effective financial reporting. Based on this, a CFO who has the experience in building out a financial reporting process/system and knowing what areas the private equity firm will focus on provides a level of confidence that supports future investments and decisions.

Here are some of the common themes and traits we have found that make for a successful PE CFO:

The role of private equity CFOs has evolved beyond traditional accounting functions, and their sphere of influence is expanding fast.

Recruiting in the PE World

As executive recruiters, we understand the unique nature of conducting a private equity search. The similarities between a standard CFO search and a search for a PE CFO are fairly straightforward: the need for top talent does not waiver, there is still an importance riding on culture fit within the company, and of course the right technical skills are imperative. The differences, however, are a little more nuanced. With private equity firms involved, an additional party is introduced into the hiring process, and with that comes new expectations of what the CFO position must entail, as well as a change in how the search for an executive will unfold, which will ultimately vary from company to company.

There are cases in which the portfolio companies drive and manage the entire hiring process, while there are also situations where the PE firm offers guidance. It is a best practice to have the PE firm involved in the earlier stages of the process because the CFO position is a key link back to the PE firm on the performance of the company. Additionally, if the PE firm is not involved early on, there are no checks and balances of the hiring efforts, and thus it could be easy for the portfolio company to get started down a path that is not compatible with the vision of the PE firm.

PE firms play a vital role in the selection of a CFO, especially because hiring a CFO can be very stressful and it is not uncommon for a portfolio CEO to seek assistance in the process. Not everyone understands finance, especially in the context of private equity, so oftentimes portfolio companies end up needing guidance on how to assess the technical merits of a candidate.

Being knowledgeable about the expectations of the CFO by PE firms, as well as understanding how to include all stakeholders in the hiring process, leads to finding a more successful CFO who will not only accomplish what needs to be done in the short term, but will be able to keep up with the company as it grows. By using a search partner that truly understands the role and the nuances, private equity firms can avoid needing to conduct CFO searches multiple times.

180one Portfolio Companies

We’ve been proud to partner with the following companies that are backed by Private Equity firms:

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New Opportunity: General Manager, Northern California & Nevada Region

By Effie Zimmerman • August 3, 2026

General Manager, Northern California & Nevada Region ABOUT THE COMPANY With roots dating back to 1938, The Papé Group is the West’s leading supplier of capital equipment solutions. Today, Papé operates across nine states with over 4,000 team members, proudly representing premier brands including John Deere, Kenworth, Hyster, Ditch Witch, and more. What sets Papé apart is its commitment to long-term relationships, both with customers and employees. As a fourth-generation, family-led business, Papé believes in the value of a handshake, the importance of service, and the impact of leadership that stays close to the work. Papé Kenworth is one of the largest Kenworth truck dealers in the Western United States, providing sales, leasing, rental, parts, and service for medium and heavy-duty trucks. Founded in 2007 as part of Papé Group, the division supports commercial fleets and owner-operators with a commitment to maximizing uptime through exceptional customer service, expert technicians, and a network of locations across the West. ABOUT THE POSITION Reporting to the President of the Papé Kenworth business, the General Manager (GM) will be responsible for driving performance, growth, and operational excellence across the Papé Kenworth & Papé Truck Leasing branches in Northern, CA & Nevada. This includes branches in San Leandro, CA, Morgan Hill, CA, Sacramento, CA, and Sparks, NV. This role demands a strategic mindset, operational oversight, and a strong leadership presence to guide branch teams in delivering outstanding service, sales, and profitability. Essential Duties and Responsibilities Lead and manage the operations of multiple branches, aligning each with company objectives and performance standards. Develop and implement regional sales strategies, forecast performance, and set measurable business goals. Oversee branch budgets, control operating costs, and ensure long-term profitability of the region. Monitor market share trends, competitor activity, and local market dynamics to maintain a competitive edge. Drive customer satisfaction by ensuring exceptional service and support across all departments. Champion a high-performance culture focused on results, collaboration, and continuous improvement. Lead, manage, develop, train, and build leadership and branch teams. Regularly visit branches in the region to ensure operational excellence and to provide leadership and management to managers and team members. All of your efforts are geared towards providing exceptional service to our customers and being the leading Class 8 on-highway, vocational, and Class 6-7 medium-duty truck dealer in the area. If you are a great leader, results-driven, and are looking to make a difference, consider joining Papé today. CANDIDATE PROFILE The ideal candidate brings a proven track record of successful management experience in capital goods or dealership environments. Key strengths include: Strong background in sales, marketing, budgeting, and personnel leadership. Demonstrated experience in developing teams, setting performance goals, and achieving sales targets. Must reside within, or be willing to relocate, to the assigned regional area. Experience developing and executing regional sales strategies that consistently exceed revenue and profitability targets. Experience leading cross-functional teams with preference for leading sales, service, parts, and leasing. Preferred Bachelor’s degree is preferred, or equivalent combination of education and progressively responsible industry experience. 10+ years of progressive leadership experience in heavy equipment, construction equipment, agricultural equipment, industrial machinery, or other related capital equipment industry. Minimum of 5 years in leadership roles. Interested in Learning More? 180one is an executive search firm and is assisting Papé Group in this search. If interested in learning more about the opportunity, please contact Lisa Heffernan / 971.256.3076/ lisa@180one.com .

The Nova Knicks and the Leadership Lesson Every Executive Team Should Learn

By Greg Togni • July 6, 2026

For years, professional sports have embraced a familiar philosophy: collect enough star talent, and success will follow. Yet season after season, teams with the most recognizable names often fall short of expectations, while less glamorous rosters outperform them through cohesion, trust, and a shared commitment to a common goal. The New York Knicks have taken a different approach. Rather than simply pursuing the biggest available names, the organization has reunited several former Villanova teammates, players who won together in college and developed a reputation for selflessness, accountability, and relentless work ethic. While each player has grown into an accomplished professional in his own right, what makes this group particularly compelling isn't just individual talent. It's the chemistry they already possess. That story should resonate far beyond basketball. It highlights a lesson every CEO, board member, and hiring executive should consider- organizations don't win because they collect the most impressive résumés. They win because they build leadership teams whose strengths complement one another and whose shared values create trust long before adversity arrives. Talent Opens the Door. Chemistry Sustains Success. Executive hiring often begins with a search for credentials. Companies look for executives with exceptional track records, marquee employers, prestigious degrees, or transformational accomplishments. Those qualifications matter. They establish credibility and demonstrate capability. But they don't guarantee success. Every executive search firm has witnessed situations where an outstanding individual hire struggled to create the expected impact. The issue wasn't competence. It was fit. Leadership styles clashed. Decision-making became slower. Collaboration suffered. Instead of elevating the executive team, the new addition unintentionally created friction. Contrast that with leadership teams that seem to move almost effortlessly. Conversations are candid. Decisions happen quickly. Disagreements remain productive because trust already exists. These teams aren't successful because everyone thinks alike. They're successful because they understand one another's strengths, respect differing perspectives, and share a common commitment to the organization's mission. The Nova Knicks illustrate this principle in action. Their familiarity wasn't built overnight. Years of competing together established communication patterns, mutual accountability, and confidence in one another's decision-making. Those qualities can't be replicated simply by assembling talented individuals. The same is true inside the executive suite. Culture Is More Than a Buzzword Organizations frequently discuss culture during the hiring process, but culture is often misunderstood. Culture isn't ping-pong tables, flexible work schedules, or carefully crafted mission statements. At the leadership level, culture is reflected in how executives make decisions, manage conflict, communicate under pressure, and support one another when circumstances become difficult. One executive who prioritizes transparency can influence an entire leadership team. Conversely, one leader who operates independently or places personal success above organizational goals can undermine months, or even years of progress. This doesn't mean companies should seek leaders who all share identical backgrounds or personalities. Diversity of thought remains one of the strongest drivers of innovation. However, diversity works best when it rests on a foundation of shared values: integrity, accountability, respect, and a willingness to collaborate. That's the distinction between similarity and chemistry. The former limits organizations. The latter strengthens them. Hiring for the Team, Not Just the Role One of the most overlooked questions in executive hiring isn't, "Can this candidate do the job?" It's "How will this individual make everyone around them better?" Great coaches ask this question constantly. They don't simply evaluate statistics or highlight reels. They consider how each player fits the existing roster, complements teammates, and contributes to the team's identity. Business leaders should adopt the same mindset. When evaluating executive candidates, organizations should certainly assess experience, technical expertise, and strategic vision. But they should also evaluate how candidates build relationships, navigate disagreement, influence peers, and foster trust across the organization. The highest-performing executives don't simply deliver results themselves. They create an environment where others perform at a higher level. That multiplier effect is often what separates good leadership teams from exceptional ones. Building a Championship Leadership Team The most successful organizations rarely rely on a collection of individual stars. Instead, they intentionally build leadership teams capable of sustaining success over time. That requires looking beyond résumés and considering factors that are harder to measure but equally important: Does this leader strengthen our culture? Will they earn the trust of peers and direct reports? Can they challenge ideas without creating unnecessary conflict? Do they make those around them more effective? These questions don't replace traditional hiring criteria; they enhance them. As executive recruiters, we often remind clients that leadership is not an individual sport. Every executive appointment reshapes the dynamics of the leadership team. Each new hire either reinforces collaboration or introduces friction. The goal isn't simply to find the most accomplished executive available; it's to find the executive who will help the entire organization perform at its highest level. The Final Takeaway The attention surrounding the Nova Knicks isn't really about basketball. It's about something every successful organization strives to achieve: building a team whose collective performance exceeds the sum of its individual parts. Championships, in sports and in business, are rarely won by talent alone. They're earned by leaders who trust one another, communicate openly, embrace accountability, and elevate everyone around them. When organizations approach executive hiring with that philosophy, they're no longer just filling leadership positions. They're building a championship team.

New Opportunity: Group Vice President

By Effie Zimmerman • June 23, 2026

Group Vice President ABOUT THE COMPANY The E-J Group is active in all facets of electrical contracting, bringing experience, expertise, and a national reputation to projects that range in size up to more than $900 million. With over 4,000 employees across 32 offices nationwide, E-J delivers full-service electrical solutions for mission critical / data centers, rail systems, transit facilities, office buildings, hospitals, power generation, substations, transmission and distribution, renewables, co-generation facilities, roadway and outdoor specialty work, airports, industrial facilities, chip plants, universities, sports stadiums, extra high voltage distribution, utility, and gas infrastructure. At E-J, three generations of family expertise have built an organization that combines practical knowledge with modern technological innovation, providing rapid and efficient solutions for today’s lighting, power, energy, and communication needs. E-J has a 127-year reputation for integrity, quality, and exceptional service in the electrical field. To learn more, visit www.ej1899.com . POSITION SUMMARY The Group Vice President will oversee and manage all operational aspects of this $750 million group of business units spread across multiple states. The responsibilities will encompass strategic planning, process optimization, and ensuring efficient day-to-day operations as well as growing staff and development of people. With a focus on continuous improvement, you will drive operational excellence, fostering a culture of innovation and productivity. Travel at least 40% of any given month to cover the needs of a national electrical contractor, reporting directly to the Executive Vice President responsible for both local and national management. KEY RESPONSIBILITIES Operational Leadership Lead and oversee operations across multiple divisions, regions, and business units nationwide. Develop and execute operational strategies that align with the company's growth objectives, financial goals, and customer commitments. Establish operational standards, performance metrics, and accountability systems to drive consistency and excellence across all divisions. Monitor project execution, productivity, labor utilization, scheduling, quality, and customer satisfaction. Drive continuous improvement initiatives focused on efficiency, scalability, and profitability. Financial Performance Maintain full P&L accountability for assigned divisions and operational business units. Partner with division leadership to develop annual budgets, forecasts, and strategic growth plans. Monitor key financial metrics, including revenue, gross margin, EBITDA, backlog, cash flow, and working capital. Identify opportunities to improve operational efficiency, project margins, and return on investment. Review major project performance and implement corrective actions where necessary. Strategic Growth Support corporate growth initiatives, including geographic expansion, acquisitions, and new market development. Collaborate with business development and estimating teams to ensure strategic pursuit of opportunities aligned with organizational objectives. Participate in acquisition due diligence, integration planning, and operational alignment of acquired businesses. Evaluate market trends, competitive positioning, and emerging technologies impacting the electrical construction industry. Safety and Risk Management Champion a world-class safety culture throughout the organization. Ensure compliance with all OSHA, regulatory, and company safety standards. Partner with safety leadership to establish proactive risk mitigation strategies. Review incident trends and implement programs that reduce risk exposure and improve safety performance. Talent Development and Organizational Leadership Lead, mentor, and develop business unit leaders, regional leaders, operations leaders, and senior operational personnel. Build succession plans for critical leadership positions throughout the organization. Foster a culture of accountability, collaboration, innovation, and high performance. Support recruiting, retention, workforce planning, and leadership development initiatives. Promote employee engagement and organizational culture across all regions. Operational Excellence Drive standardization of processes, systems, project controls, reporting, and operational best practices. Leverage technology and data analytics to improve decision-making and operational visibility. Establish and monitor key performance indicators (KPIs) across divisions. Lead enterprise initiatives related to productivity improvement, innovation, prefabrication, workforce optimization, and project delivery excellence. QUALIFICATIONS AND EXPERIENCE 10+ years of experience in operations management with a preference for experience in commercial electrical contracting, specialty construction, or related industries. Demonstrated success leading multiple business units, divisions, or regions with significant revenue responsibility. Preference for experience managing large-scale commercial, industrial, mission-critical, and civil construction projects. Proven track record of driving profitable growth, operational improvement, and organizational development. Experience leading senior-level teams in a multi-location environment. Knowledge, Skills, and Abilities Proven ability to develop and implement strategic plans Strong leadership and team management skills Excellent communication and interpersonal skills Ability to work independently and as part of a team Experience in budgeting and financial management Knowledge of supply chain management Ability to solve problems and make decisions quickly Strong analytical and problem-solving skills Ability to work under pressure and meet deadlines Advantages of Working at E-J: Leading Electrical Contracting Organization Nationally Oldest family-owned and operated electrical contractor since 1899 Job training and mentorship Supportive Management Team Rewarding project experience Comprehensive benefits, including medical, dental, vision, and a 401 (k) plan Paid holidays and vacation Merit-Based Bonus History of employment longevity The E-J Group is an Equal Employment Opportunity Employer and ensures equal employment opportunity for all persons without discrimination on the basis of race, color, religion, sex, sexual orientation, national origin, age, disability, marital status, citizenship, or any other characteristic protected by law. Interested in Learning More? 180one has been retained by EJ Electric to manage this search. If interested in learning more about the opportunity, please contact Nicole Brady at 503-699-0184 or via email at nicole@180one.com .