No Operator, No Deal — How PE Firms Find the Right CEO with Travis Hann

Some PE deals don't fall apart in due diligence — they fall apart because no one can find the right CEO. Travis Hann has built his firm around solving exactly that problem. If the operator doesn't exist — or can't be found — the deal doesn't happen.Travis Hann is the Co-Founder and Managing Partner of Pender & Howe, a fast-growing boutique executive search firm serving mid-sized companies and investors across North America. He also serves on the board of Kestria, the world's largest global executive search alliance — a network of 42 boutique firms operating in 42 countries. Since founding the firm in 2019, Travis has helped private equity sponsors, family offices, and venture capital investors find the mission-critical operators who make deals possible. For investor-backed businesses, the stakes aren't just high — the deal itself is often contingent on the search. Travis has been assessing executive leaders every month for over a decade, and in this episode, he pulls back the curtain on exactly how that process works: how he spots inconsistency, why a polished resume means almost nothing, what it takes to find an operator willing to put their own capital on the line, and why the CEO role today demands a completely different toolkit than it did five years ago.🎯 What We Cover:Why some PE deals are entirely contingent on finding the right CEO or operatorWhat separates a standard executive search from a deal-dependent oneThe consistency framework Travis uses to assess C-suite candidates across multiple touchpointsWhy charisma can be a red flag — and how to see past it to real competencyThe Top Grading methodology and why it stress-tests candidates better than traditional interviewsHow to find operators willing to co-invest and put their own capital in the dealWhen PE firms and investors should engage a search firm — and why earlier is almost always betterDeal vs. team: how to decide which one you're actually betting on in a services businessWhy AI-polished resumes have changed the talent assessment gameWhat the modern CEO role looks like today vs. five years ago — and what the new toolkit requiresThe subtle behavioral signals Travis watches for that most hiring processes completely missHow Pender & Howe grew from a spin-off of 4 people to a 20-person North American firm🤝 Connect with Travis Hann: 🌐 https://www.penderhowe.com 💼 https://www.linkedin.com/in/travishann💼 Thinking About a Transaction? FA Mergers helps founders, investors, and business owners navigate the full M&A process — from valuation to close. If you're exploring a sale, acquisition, or capital raise, let's talk. 🔗 https://www.famergers.com/🎙️ Follow The Deal Podcast: 🌐 https://www.thedealpodcast.com/ 💼 https://www.linkedin.com/in/joshuabrucewilson/▶️ https://www.youtube.com/@dealpodcastCurious what your business is worth? Request your free valuation at famergers.comDisclaimer: Joshua Wilson is a licensed Florida real estate broker and holds FINRA Series 79 and Series 63 licensure. The Deal Podcast is presented by FA Mergers and is produced for informational and educational purposes only. Nothing discussed constitutes investment advice, legal or tax advice, a solicitation, or a recommendation to buy or sell any security or to pursue or avoid any transaction. All views and opinions expressed by the hosts, co-hosts, and guests are their own and do not necessarily reflect the positions of FA Mergers, One Iron Network LLC, any regulatory agency, or any employer. Listeners should consult their own legal, financial, and tax professionals before making any business, financial, or transaction decision. This podcast does not constitute a solicitation or recommendation for any financial products or services.Let's Connect on LinkedIn:https://www.linkedin.com/in/joshuabrucewilson/To Contact Us, Please Visit:https://www.thedealpodcast.com/contact/