Industrial Practice: 2024 Year in Review

John Nimesheim

Managing Director & COO

The industrial manufacturing sector saw transformative private equity leadership this year. Below are representative industrial practice search highlights from 2024.
 
 

Group President for a $900M Private Equity Backed Industrial Products Company

 
The Group President, reporting directly to the Chief Executive Officer (CEO), will lead the Industrials Group with full P&L responsibility, driving strategic vision, operational improvements, and growth initiatives, including M&A. Overseeing three General Managers and a global workforce of over 2,000 across the U.S., Europe, and Asia, this leader will focus on efficiency, profitability, and talent development while positioning the business for significant revenue growth. This high-profile role involves shaping the company’s Industrial Segment strategy to achieve over $1 billion in revenue and preparing for a potential CEO transition.
 

The ideal candidate is an inspiring and transformative leader with a proven track record managing over $300 million global industrial manufacturing businesses, preferably in highly engineered environments like flow control. They will have experience leading multiple P&L teams, driving top-line growth, EBITDA margin expansion, and executing impactful M&A strategies. This individual excels at building world-class teams, driving strategic and operational change, and delivering superior business results. The candidate must have the intellectual agility, curiosity, and leadership potential to rapidly advance within the organization.
 
 

President & Chief Executive Officer for $500M Private Equity Backed Industrial Products Company

 
The President & Chief Executive Officer will set and execute the strategic and operational agenda for the business, focusing on scaling and improving performance. This leader will oversee all commercial, operational, and staff functions, driving sustainable, profitable growth through market share gains and operational excellence. They will provide visible direction and leadership, ensuring a high-performing culture while delivering measurable results and positioning the business for continued success.
 

The ideal candidate is a transformative P&L leader with a proven track record of driving growth and operational improvement in highly engineered manufacturing environments. They are a hands-on, “working leader” who seamlessly moves between strategy and execution, such as leading kaizen events or engaging in customer acquisition. This individual excels at commercial and operational strategy, with expertise in the 80/20 business model and a passion for teaching and developing others.
 
 

Group President for a $1.2B Private Equity Backed Industrial Services Company

 
The Group President, reporting to the CEO, will lead the $220 million+ division with full P&L responsibility. This role involves overseeing day-to-day operations, financial performance, and strategy execution to achieve sustainable growth and maintain the company’s reputation in the marketplace. They will ensure the division meets its annual and strategic goals, expanding its market position and exploring new opportunities. With a focus on safe, ethical, and efficient operations, the role also includes leadership in achieving growth in revenue and EBITDA, driving both operational and financial success across multiple projects and geographies.
 

The ideal candidate will have at least 10 years of operational leadership experience, particularly in construction or project-based industries, with a proven track record in general management, strategy execution, and financial oversight. They will have a strong background in organizational development, personnel management, and successfully leading safe, reliable operations. A leader with exceptional financial acumen, the candidate will excel in managing complex projects and the full cash cycle, while recruiting and retaining top talent. Industry knowledge, union experience, and a focus on delivering results are key to success in this role.
 
 

President & Chief Executive Officer for a $200M Industrial Products Company

 
The President & Chief Executive Officer (CEO), reporting to the Executive Chairman, will have full P&L responsibility for the portfolio company. The CEO will oversee performance, profitability, and accountability, while collaborating with the executive team to develop and drive the company’s strategy. They will champion the deployment of the Steel Business System, including Lean methodology, to ensure success and scalability. This role requires leadership in driving growth, operational excellence, and long-term profitability.
 

The ideal candidate will bring at least 15 years of experience, including 10 years in P&L leadership roles such as Chief Executive Officer, Chief Operating Officer, President, or Vice President/General Manager. They will possess a blend of strategic vision and operational expertise, with a track record of building high-performing teams and fostering a strong, growth-oriented culture. A deep understanding of the metal industry and a proven ability to drive business growth through strategic deployment and effective working capital management will be essential for success in this role.
 
 

President & Chief Executive Officer for a $50M Private Equity Backed Industrial Products Company

 
The President & Chief Executive Officer (CEO) will lead a niche distributor and light manufacturer of aftermarket replacement parts and accessories for the automotive lift and shop equipment industry. With a strong 30+ year track record of consistent growth, recurring revenue, and strong margins, the company is entering a new phase of accelerated growth following a transition from a family-run business to an institutionally-backed entity. The CEO will be responsible for driving market expansion, executing strategic growth plans, and overseeing P&L, while also refining sales and marketing efforts to enhance the company’s presence in the market.
 

The ideal candidate will have at least 15 years of progressive HR experience, including roles at organizations recognized for best-in-class practices and hands-on experience building HR functions in less mature environments. They will be a trusted advisor to the CEO and senior leadership, with a proven track record of driving innovation and delivering impactful human capital strategies. Experience outside of HR is a plus, demonstrating a broad business perspective.
 
 

Operating Partner for an Industrially-Focused Private Equity Firm

 
The Operating Partner is a key role focused on driving value creation within portfolio companies through operational improvements, growth initiatives, and acquisitions. Working closely with the Operations and Finance teams, they will help identify new platform and add-on opportunities, participate in due diligence, and support the integration of new acquisitions. The Operating Partner will also collaborate with portfolio company Chief Executive Officers to develop and execute strategic business plans, improve processes, and drive growth through both organic initiatives and acquisitions.
 

The ideal candidate will have 10+ years of operational leadership experience as a Chief Executive Officer/President of a mid-market-sized business or division with full P&L, legal, and compliance responsibility. They must have a proven track record of growing businesses to $200 million or more, both organically and through acquisitions. Private equity experience at a PE firm or with a PE-owned portfolio company is highly preferred.
 
 

Chief Procurement Officer for a $100M Private Equity Backed Industrial Products Company

The Chief Procurement Officer (CPO), reporting to the Chief Executive Officer, will oversee the integrated procurement function across the portfolio company. Initially, this role will involve assessing and benchmarking the current procurement practices and resources. Based on this evaluation, the CPO will develop a plan to implement key improvements, driving the transition to a more efficient and effective procurement operation. In addition to leading this integration, they will manage the daily operations of the function, ensuring timely sourcing of materials and maintaining high performance across key department metrics. The role will also include driving value creation by enhancing procurement capabilities in future acquisitions.
 

The ideal candidate will build the procurement function into a well-run, data-driven department that works closely with other functions to enable day-to-day operations while expanding gross margins, reducing working capital, and improving supply chain reliability. They will have a strong track-record of developing a best-in-class procurement function with strong process, systems, and capabilities and should have experience managing the supply chain of mid-sized contract manufacturers with sales of $50-500 million. This leader will be expected to build an organization that embodies the company’s culture of initiative, teamwork, dependability, and problem-solving.
 
 

Chief Technology Officer for a $500M Private Equity Backed Industrial Products Company

 
The Chief Technology Officer will oversee the full lifecycle of product development for the division, from vision and strategy through to delivery and implementation, translating business objectives into clear, innovative actions. This leader will develop enterprise-level product and implementation strategies, leveraging a deep understanding of customer needs, financial drivers, and technology levers. Key responsibilities include collaborating with business, operations, and commercial leaders, as well as other stakeholders, to drive the design, development, and launch of products that meet client needs while aligning with broader business and technology goals. The executive will also be responsible for integrating and advancing next-generation technologies and products within the division.
 

The ideal candidate will have 15+ years of technical leadership experience, preferably in cooling or HVAC solutions, with a proven track record of leading R&D groups and driving innovation and margin enhancement. They must possess strong business instincts and leadership skills, establishing immediate credibility as a key business partner. A true team player, this executive will be an excellent communicator and listener, able to develop strong relationships across the organization. With a fact-based influence style, they will effectively advocate for change and help individuals see the broader benefits to the organization.
 
 

Chief Financial Officer for a $200M Privately Held Industrial Products Company

 
The Chief Financial Officer (CFO) will be a key member of the Executive Management team, reporting directly to the President. This strategic role involves overseeing all financial activities of the company, including financial planning, performance assessment, and capital planning. The CFO will collaborate with the Chief Executive Officer, President, and Executive Team to align financial objectives with the company’s growth strategy, providing financial insights that inform strategic decisions. As a trusted advisor, the CFO will guide the company on financial trends, issues, and changes to improve and drive business growth.
 

The ideal candidate will have 15-20 years of multi-site manufacturing experience, ideally in organizations with at least $150 million in revenue, and preferably with exposure to privately held companies. They will possess a combination of deep financial knowledge and broad strategic insight, along with strong leadership qualities and interpersonal skills. This individual will have a track record of coaching and developing teams, driving financial results through innovative execution and cross-functional collaboration. The CFO will be hands-on, able to navigate both high-level strategic decisions and day-to-day tactical needs, fostering a work environment that brings out the best in people and effectively communicating across all organizational levels.
 
 

Group Vice President, Operations for a $1B Private Equity Backed Industrial Products Company

 
The Group Vice President, Operations will report to the President and oversee global multi-site operations for the company’s business segment. This executive will manage the manufacturing site leaders while partnering with cross-functional teams in Safety, Quality, Supply Chain, Procurement, Product Design, and Commercial to ensure customer commitments and internal targets are met for safety, quality, delivery, and productivity. The role involves driving operational excellence and ensuring alignment across all functions to achieve business objectives.
 

The ideal candidate will bring a minimum of 15 years of experience in production management or manufacturing/process engineering, with expertise in discrete manufacturing and manual or semi-automated assembly operations. They will demonstrate strong leadership in fostering a culture of entrepreneurship, collaboration, reliability, transparency, and performance. This individual will have a proven ability to drive results through a data-driven approach and possess a relentless focus on achieving operational goals and targets.