In this episode of The LAB Podcast, we sit down with Mason Myers, Founder of Greybull Stewardship, to explore how his firm consistently generates outsized returns in the pre-middle market—companies below $25M enterprise value and under $5M EBITDA.

Where most investors see risk, Greybull sees opportunity: strong business models with proven product–market fit, but lacking the execution muscle to scale. Mason walks us through their business-model-first investment strategy, their differentiated sourcing approach, and the operating frameworks that help small companies become true mid-market platforms.

We explore Greybull’s eight-step strategy process, how they reduce development risk during diligence, why their hold periods extend 7–10 years, and how they bring functional expertise to companies too small to build that capability internally.

Mason also shares a standout case study: a continuing-education business they helped transform from $1.4M to $6M EBITDA, shifting from in-person workshops to online subscriptions, expanding recurring revenue from 0% to 90%.

This is a masterclass in value creation for small companies with big potential.------The opinions referenced are as of the date of the publication and are subject to change without notice. This material is for informational use only and should not be considered investment advice. This is not an offer to sell, or a solicitation of an offer to purchase any fund managed by Greybull. Such an offer will be made only by an Offering Memorandum, a copy of which is available to qualifying potential investors upon request. Greybull is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about Greybull's investment advisory services can be found in its Form ADV Part 2 which is available upon request. The opinion expressed are those of Greybull.

In this episode of The LAB: Value Creation in Private Equity, Scott and Nick sit down with Mark Gormley, Founding Partner at Lee Equity Partners, to discuss how private equity can build lasting value in healthcare services.

Mark walks through his background in financial services and his 25+ years investing in healthcare, offering an inside look at how Lee Equity approaches physician practice management (PPM) and healthcare roll-ups.

The conversation dives into Solaris Health, one of Lee Equity’s standout success stories, exploring what made it work when so many PPM deals fail to scale.

The episode breaks down:

• Why PPM roll-ups are among the hardest in private equity

• How Lee Equity built Solaris into a national urology leader with 800+ providers

• The balance between integration and physician autonomy

• Lessons from cross-pollinating leaders and best practices across portfolio companies

It’s a masterclass in how to build a real business, not just aggregate EBITDA.

In this episode of #TheLAB, Scott Estill and Nick Creasey sit down with Rob Heyvaert, Founder and Managing Partner at Motive Partners.

Rob shares the arc of his career, from engineering the algorithm that powered the Euro’s clearing and settlement system, to building and scaling CAPCO, to founding Motive Partners, and the philosophy behind his firm’s success: combining investors, operators, and innovators to drive alpha in fintech.

They discuss:

• How deep operational experience differentiates investors in financial technology.

• Why WealthTech, particularly in private market infrastructure, is ripe for disruption.

• The concept of a “frictionless network” connecting private markets, and why wealth advisors, investors, and entrepreneurs alike aren’t ready for the shift ahead.

• Rob’s take on staying curious, the future of AI in financial services, and the discipline of knowing when not to act first.

Ari Lefkovits from Delos Capital joins #TheLAB to unpack how his firm merges restructuring expertise with private equity investing to unlock value in complex situations.

From his time at Lazard to his current role at Delos, Ari explains how early preparation, coalition-building, and cultural alignment can turn distressed assets into success stories.

We cover:

• How and when to act when “yellow lights” start flashing

• Why culture often matters more than capital structure

• Common mistakes sponsors make in special situations

• How Delos balances advisory work and investment roles

  
  

A candid look at the intersection of capital solutions, partnership, and transformation in today’s private markets.

On this episode of The LAB Podcast: Value Creation in Private Equity, we sit down with Jean-Louis and Randy; two longtime friends and industry veterans who are redefining how investors access private equity.

Jean-Louis, co-founder of SVP, and Randy, a professor with deep roots in alternative investing, share how their journey led to building a business around what some call an oxymoron: liquid private equity.

We cover:

• Why private equity has historically outperformed public markets

• The challenge of liquidity and the innovation behind “liquid PE”

• How CIOs, institutions, and even retail investors can integrate this model

• The democratization of access to PE-type returns

This conversation explores the future of portfolio construction and why liquid private equity may be the next major innovation in the industry.

In this episode of The LAB Podcast, we sit down with John Ioannou, a rare executive who has worn nearly every hat in the private equity ecosystem: CEO, chairman, operating partner, and investor.

John shares how his dual perspective as both operator and partner shaped his approach to building trust with management teams, why culture and leadership are just as critical as financial diligence, and how AI is reshaping competitive moats across industries.

We cover:

• The evolving role of operating partners in private equity

• Lessons from leading three roll-ups across different industries

• Why integration, culture, and leadership can make or break enterprise value

• The importance of mentorship as a force multiplier for talent

Whether you’re an investor, operator, or board member, John’s insights provide a roadmap for creating sustainable enterprise value in today’s market.

Jim and Adam Hirshorn join The LAB Podcast to share the story behind launching Onyx Canyon Partners.

Together, they bring decades of operational and investment experience—from Bain, Sealy, Potbelly, and Ares—into the lower middle market, where they see a unique opportunity to drive value.

In this episode, we cover:

• Why operators have an edge in private equity investing

• How culture and talent alignment fuel long-term growth

• Onyx Canyon’s investment thesis and first deal in youth sports

A conversation on bridging generations, building with values, and creating lasting impact in the private equity ecosystem.

Patrick Turner, Managing Director at VSS Capital Partners, joins Scott Estill and guest co-host Justin Wisnicki to unpack how structured capital enables founders to scale without giving up control.

They discuss:

• VSS’s approach to minority investing with downside protection

• How operational rigor creates value post-close

• Why founders choose growth capital over a full sale

• LP sentiment and the shift toward the lower middle market

• 600+ bolt-on acquisitions and what makes them work

If you're in private equity, a founder at an inflection point, or an operator focused on growth, this episode is a masterclass in alternative investing models and value creation.

In this episode of The LAB Podcast, hosts Scott Estill and Nick Creasey dive into the world of GP Stakes and flexible capital solutions with Ben Drylie-Perkins, Head of Investments at Cantilever Group. Ben provides insights into how Cantilever is uniquely positioned to support lower middle-market and middle-market private equity firms with capital and strategic guidance. The conversation covers the evolution of GP Stakes investing, the key challenges mid-market GPs face, and why a structured approach to liquidity and growth financing is crucial.

Ben also shares Cantilever’s differentiated investment strategy, emphasizing how they bring bulge-bracket expertise to an underserved segment. They discuss misconceptions about lower middle-market private equity, the importance of founder alignment, and what makes a successful fund manager. The episode is a must-listen for PE professionals, fund founders, and investors looking to better understand the GP finance landscape.

This episode of #TheLAB, Nick and Scott are joined by Neil Bansal, Managing Director at OMERS Private Equity. Neil shares his journey through investment banking, consulting, and leadership roles at major companies. Learn how he’s driving value creation with AI, data, and digital tools to transform portfolio companies. Perfect for finance and tech enthusiasts looking to understand the future of digital in private equity!