Ken Kavanaugh

I spoke with Christien Louviere of BDE Capital about his journey from a $330mm exit to becoming an independent sponsor. Christien shared excellent insights for folks looking to partner with business owners, rather than buy sellers out completely. Below are a few of the topics we covered: - Why he moved from “zero-to-one” startups to a buy-then-build strategy - How Christien's background shaped a focus on growth vs. cost-cutting - Why 20–40% rolled equity is central to his deal structures—and how it builds trust with sellers - Using scenario analysis with AI tools to evaluate management teams and uncover hidden key-person risks - How to identify when a $3–5M EBITDA company truly has a middle management layer—or is still founder-reliant For anyone investing in or buying small businesses, Christien’s approach provides a fresh lens on growth, alignment, and deal structuring. 🎥 Watch the full interview here → https://lnkd.in/ekfkaiej 🎧 Listen on Spotify: https://lnkd.in/e86Agx6V

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Base Power Company’s expansion beyond Texas reflects the growing competitive dynamics in retail power across deregulated markets. Scaling from one state to many requires deep operational discipline, local market intelligence, and executional speed—critical levers for success in this sector.

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Increased tariffs can squeeze margins, delay product launches, and change consumer behavior, all of which affect growth and valuation. In times of trade uncertainty, assets like gold often attract attention as safe havens, but that comes with its own risks. Navigating this changing landscape means staying informed and adaptable. It’s not just about what’s happening today; it’s about anticipating how these policies will shape markets and opportunities in the future. Being prepared is key to making smart investment decisions and helping startups thrive amid uncertainty. #Investing #Startups #TradePolicy #Tariffs #MarketTrends #Leadership

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Last night, we closed Soundcore Capital Partners Fund III at $450 million — oversubscribed at the hard cap. 🚀 117 LPs. 12 countries. I am deeply grateful to every Fund III LP for the trust you placed in our team and our strategy. 11 years ago, I started Soundcore with a simple conviction: that small business owners in non‑discretionary service sectors deserved a respectful, operationally intensive partner — and that PE could be built the right way, from the ground up. There was no platform to leverage. No built‑in capital base to hire the talent this strategy demands. From the start, what existed was an unwavering conviction in the mission, a relentless work ethic, and a commitment to building this firm—step by step—into the very best in PE. Using the formula I created, we have built market‑leading platforms in highly fragmented, essential service sectors — long before it was fashionable to do so. Like any long journey, Soundcore was tested in ways I could not have anticipated. There were moments when staying the course was difficult and uncomfortable. What mattered most during those periods was resilience and integrity. Over the past several years, I spent countless hours on the road meeting with existing and prospective LPs — engaging in deep DD and thoughtful partnership discussions. The scrutiny made Soundcore better. More disciplined. More durable. At the same time, our team remained intensely focused on the portfolio and employees driving daily performance. Operationally, Fund III already reflects one of the most focused and active periods in our firm’s history: 👉 Five platforms built with over $540 million in revenue 👉 28 acquisitions completed 👉 17 acquisitions in 2025 alone — our most active year to date 👉 Meaningful expansion of our team, with deeper operational and investment expertise The LPs in Fund III were discerning and did the work. They conducted extensive DD and evaluated us based on data and firsthand reference work. We are grateful for their rigor and for their partnership mindset. We also diversified and strengthened our global LP base across public and corporate pensions, endowments, foundations, consultants, insurance companies, single family offices, fund of funds, multi-family offices, wealth managers, asset managers, and ultra-high net worth investors. We do not take that responsibility lightly. The close of Fund III is not a finish line — it is a mandate. Our focus remains singular: disciplined execution, operational value creation, and delivering performance consistent with the trust placed in us. To our LPs — thank you for your rigor, candor, and partnership. To the Soundcore team — your professionalism, resilience, and unwavering confidence in what we are building made this possible and I share this achievement with you. To my wife — thank you for the strength, patience, and support that made this journey possible. We move forward focused, proud, aligned, and accountable. Onward.

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Harris Williams is currently advising DMC Power, a portfolio company of Golden Gate Capital, on their pending sale to Hubbell. DMC Power is a trusted leader in developing proprietary connector technologies for high-voltage power systems. The company’s unique swage connection system offers a strong complement to Hubbell’s existing substation and transmission connector solutions. Their combination with Hubbell will deepen and broaden Hubbell’s technology offering with their core customers, enabling fast, reliable buildout of substation and transmission infrastructure and datacenter interconnections while further accelerating their near- and long-term growth profile. We look forward to following their continued success in this next chapter. https://lnkd.in/edzQfnFG #mergersandacquisitions 

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Recycling superalloys = less mining, lower emissions, and stronger supply chains. Excited to see GEF Capital Partners support EverMetal to lead the way, creating a circular economy for critical metals in key industries like aerospace, defense, and technology. ♻️ #CriticalMetals #CleanEnergy

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More companies are betting on first-time CFOs - but what sets the successful ones apart? My colleague Matt Quinn shares his perspective, and Gabriel Ventura, first-time CFO of Mr. Greens Produce, offers five lessons from his first year in a PE-backed seat: https://lnkd.in/eUma_Wq3

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Invictus Growth Partners is excited to announce that Campfire Interactive has acquired Cover 4 PM. The combined platform connects forecasting, quoting, and program execution-enabling manufacturers to turn plans into performance, close margin gaps, and achieve 8-10x ROI. #manufacturing #AI #automotive #supplychain #profitability #empowerexcellence

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