The Operator’s Model for Growing a Company | Mark Wrightsman, P2G Capital

What we talked about.

In this episode of Sunny Ray's show, Sunny Ray talks with Mark Wrightsman of P2G Capital about the operator's model for growing a company. Wrightsman explains what an independent sponsor is, how it differs from a traditional private equity fund, and why his firm, which writes its own checks, pairs financial skill with hands-on operating experience. He traces his path from nuclear engineering and 17 years at GE to two decades as CEO of a small robotics company that passed through four private equity owners. He describes the POISE model, which starts with people and grew out of decades of leadership practice, and shares how it helped a flat 50-year-old company build a new leadership team and drive dramatic growth. He also covers how deals are sourced through relationships, the role of co-sponsors, how partners weigh in on decisions, what a good exit looks like, and how Gallup strengths help assess leadership teams. He closes with his vision for P2G's growth if the model keeps working.

A former GE leader and 20-year robotics CEO explains why investors who have actually run companies can change a business's trajectory.

The questions, and the answers.

What is an independent sponsor?

Private equity typically raises a fund and spends other people's money. As an independent sponsor, we don't raise a fund. We write our own checks, and my five partners and I have done that personally. We make decisions ourselves and stay active. Most independent sponsors come from big PE or VC firms, but we also bring the skills needed to run a business.

What did you do before P2G that made this model make sense for you?

I started as a nuclear engineer at GE and spent 17 years learning to run businesses in a big corporation. Then I led a tiny robotics company for 20 years, through four private equity owners, adding companies and rarely cutting costs. I realized I was most drawn to investing in people and teams, so we formed P2G, which is short for partner to grow.

Where did your model for running companies come from?

I used it for decades without writing it down. After I retired, my partner Dr. Scott, who had done a lot of leadership training, and I rewrote an existing strategy model to stress the importance of people. We called it POISE. It summarizes what it takes to keep growing through learning, and it starts with people.

Can you share a real example of the model working inside a company?

We have invested in three companies. In one, a great CEO needed a much stronger next tier of senior leaders. We evaluated the people, looked at strengths and gaps, and helped build the team. That 50-year-old company was flat for 10 years and now has dramatic growth under a new leadership team and a new strategy.

Which business owners should be calling you, and when?

Not this week. We are sized for two or three active roles, so think 2027, though earlier conversations are fine. We get deeply involved, like the bacon rather than the chicken providing the egg. Our sweet spot is technical businesses, such as technology, electronics, and AI security, that have gaps in people, direction, or product and don't know how to fill them.

How do the best deals find their way to you?

We don't review book after book or email after email. Everything we've invested in has come through relationships. Trusted people introduce us to other trusted people who need leadership help and investment. On the PE side, we also find a co-sponsor, such as a larger firm that likes partnering with knowledgeable, operator-minded independent sponsors.

How do you tell whether a leader needs support or the role needs someone new?

We look at every function and at the strategic plan, asking whether the right leaders are leading or even exist. We also assess leaders using Gallup strengths, grouped into eight categories, to check the team has a balance of starting things, finishing things, and seeing themes. Often it is simply a leadership gap, and filling it multiplies what the company can do.