Best But Never Final: Private Equity's Pursuit of Excellence

Doug McCormick, Lloyd Metz, Sean Mooney

Join Doug McCormick from HCI Equity Partners, Lloyd Metz from ICV Partners, and Sean Mooney from BluWave as they explore timely private equity topics and offer their seasoned perspectives on crucial areas of focus within the industry. Gain valuable insights from these industry experts in this engaging podcast tailored for PE professionals.

  1. 1D AGO

    Private Equity Deal Teams and the Discipline to Win

    Lloyd Metz and Doug McCormick join Sean Mooney to break down what truly makes a private equity deal team effective—from associate to partner. They unpack how roles evolve across the deal lifecycle, how firms assign and staff opportunities, and why intellectual honesty, judgment, and trust determine whether capital gets deployed wisely. The conversation moves beyond modeling and process into risk appetite, negotiation discipline, and staying commercial under pressure. If you want a candid look at how winning private equity teams actually operate, hit play. 2:27 - The core roles inside a lower middle market private equity deal team 8:40 - Assigning deals: capacity, passion, and declaring your intentions 15:12 - What separates an exceptional associate from a competent one 22:10 - Balancing gas and brake: risk appetite inside the deal team 29:25 - Identifying deal breakers early and protecting against bias 34:20 - The shift from analyst to manager: what defines a strong VP 44:21 - From closing the deal to owning the outcome: integrating ops and value creation For more information on the podcast, visit bestbutneverfinal.buzzsprout.com and embark on your journey to private equity excellence today. Visit us on LinkedIn at https://www.linkedin.com/company/best-but-never-final-podcast/ Visit us on Instagram at https://www.instagram.com/bestbutneverfinal/ For information on HCI Equity Partners, go to https://www.hciequity.com For information on ICV Partners, go to https://www.icvpartners.com For information on BluWave, go to https://www.bluwave.net For more information on the podcast, visit bestbutneverfinal.buzzsprout.com and embark on your journey to private equity excellence today. Visit us on LinkedIn at https://www.linkedin.com/company/best-but-never-final-podcast/ Visit us on Instagram at https://www.instagram.com/bestbutneverfinal/ For information on HCI Equity Partners, go to https://www.hciequity.com For information on ICV Partners, go to https://www.icvpartners.com For information on BluWave, go to https://www.bluwave.net

    52 min
  2. 12/23/2025

    Private Equity Operating Partners as Value Creation Translators with Mike Magliochetti

    Mike Magliochetti, Operating Partner at Riverside Partners and former multi-time PE-backed CEO, explains how operating partners create real value by bridging deal teams and portfolio company leadership. Drawing from three decades as an operator and his book Dancing Between the Toes of Elephants, Mike shares how trust, pattern recognition, and execution discipline shape better outcomes across diligence, governance, and growth. He also addresses deal fever, founder dynamics, and why serving outcomes—not egos—matters most. This conversation offers a clear-eyed view of modern private equity value creation—worth every minute. Get Mike's Book at https://www.amazon.com/Dancing-Between-Toes-Elephants-Experience/dp/1964421136 For more information on Riverside Partners, go to https://riversidepartners.com/ For more information on Mike Magliochetti, https://www.linkedin.com/in/michael-magliochetti-9905371 For more information on the podcast, visit bestbutneverfinal.buzzsprout.com and embark on your journey to private equity excellence today. Visit us on LinkedIn at https://www.linkedin.com/company/best-but-never-final-podcast/ Visit us on Instagram at https://www.instagram.com/bestbutneverfinal/ For information on HCI Equity Partners, go to https://www.hciequity.com For information on ICV Partners, go to https://www.icvpartners.com For information on BluWave, go to https://www.bluwave.net

    43 min
  3. 10/14/2025

    When Things Go Wrong, Part II: Taking Action When Performance Slips

    In this continuation of their conversation on portfolio performance, co-hosts Lloyd Metz (ICV Partners), Doug McCormick (HCI Equity Partners), and Sean Mooney (BluWave) move from diagnosis to action: what to actually do once you know a business isn’t performing to plan. They cover how to tell a temporary headwind from a structural problem, where to start on revenue and cost fixes, and how to balance quick liquidity levers with long-term value creation.  From pricing strategy and marketing ROI to Lean Six Sigma process improvements, working capital discipline, and when to inject new capital, this episode is a playbook for business builders navigating tough quarters with clear eyes and steady hands. Episode Highlights 2:21 – Distinguishing market challenges from internal structural problems7:01 – Boosting top-line growth through pricing, marketing, and sales leadership16:48 – Cutting costs intelligently: process efficiency, spend takeout, and Lean systems28:45 – Managing liquidity: working capital, cash creation, and balance-sheet discipline36:18 – Knowing when more capital helps and when it’s time to stop funding the problemFor more information on the podcast, visit bestbutneverfinal.buzzsprout.com and embark on your journey to private equity excellence today. Visit us on LinkedIn at https://www.linkedin.com/company/best-but-never-final-podcast/ Visit us on Instagram at https://www.instagram.com/bestbutneverfinal/ For information on HCI Equity Partners, go to https://www.hciequity.com For information on ICV Partners, go to https://www.icvpartners.com For information on BluWave, go to https://www.bluwave.net

    46 min
  4. 09/23/2025

    When Things Go Wrong: Diagnosing and Fixing Portfolio Problems

    Private equity is messy in real time. In this episode, co-hosts Lloyd Metz (ICV Partners), Doug McCormick (HCI Equity Partners), and Sean Mooney (BluWave) lay out practical ways to spot trouble early, separate market shifts from operator errors, and use forward indicators, not just rear-view financials, to steer.  They cover KPI design by business model, forecasting discipline, the “support before swap” approach to diagnosis, and when to move to interim leadership while hiring the permanent fix. Clear, blunt, and field-tested; hit play to sharpen how you manage downside and protect value. Episode highlights 3:54 – Why monthly financials are rear-view and can mask emerging issues7:53 – Reading the balance sheet and cash flow to surface hidden problems10:22 – Forward signals: funnels, backlog, churn, and other business-specific KPIs12:42 – Reforecasting discipline, tracking “call accuracy,” and bias correction19:17 – Diagnosis through support: roll-up-sleeves work with operators, not board-deck analysis33:27 – When it’s leadership: interim coverage, “fire fast, hire slow,” and setting the next exec up to winFor more information on the podcast, visit bestbutneverfinal.buzzsprout.com and embark on your journey to private equity excellence today. Visit us on LinkedIn at https://www.linkedin.com/company/best-but-never-final-podcast/ Visit us on Instagram at https://www.instagram.com/bestbutneverfinal/ For information on HCI Equity Partners, go to https://www.hciequity.com For information on ICV Partners, go to https://www.icvpartners.com For information on BluWave, go to https://www.bluwave.net

    40 min

Trailer

5
out of 5
16 Ratings

About

Join Doug McCormick from HCI Equity Partners, Lloyd Metz from ICV Partners, and Sean Mooney from BluWave as they explore timely private equity topics and offer their seasoned perspectives on crucial areas of focus within the industry. Gain valuable insights from these industry experts in this engaging podcast tailored for PE professionals.

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