Seasoned Executive and Business Builder with Technology and Private Equity Expertise Joins McNally Capital Leadership
Chicago, IL – February 5, 2024
McNally Capital (“McNally”), a private equity firm, is pleased to announce that Lou Rassey has been appointed as Co-Chief Executive Officer (“Co-CEO”) and Managing Partner of the firm, a new position.
Lou joins McNally with 30 years of executive leadership and business-building experience. As a former CEO, entrepreneur, advisor, and board leader, Lou has deep experience scaling up new businesses and creating step-change improvements in established companies. In the newly formed role of Co-CEO, Lou will work alongside Founder, Co-CEO, and Managing Partner Ward McNally to shape and lead the next chapter for McNally Capital.
“We are proud of McNally Capital’s distinctive track record and the foundation we have built over the past fifteen years as a leading private equity manager and advisory firm. It’s clear that bringing Lou on in this leadership role will further accelerate our progress,” said Ward McNally. “Over the past eight years, Lou has become a highly trusted and respected colleague through his advisory role as an Industry Partner of McNally Capital. He is a proven leader who aligns with our vision for scaling the firm and holds himself to our high standards and values. His differentiated skillset perfectly complements my thirty years of private equity investment experience. We are confident Lou is the ideal partner to propel McNally Capital to new heights.”
Lou brings a unique mix of leadership experiences and expertise that weaves private equity, technology, and business operations together. His career includes over 12 years with McKinsey & Company, where he was a Partner and served in leadership roles in the firm’s Private Equity, Operations, and Technology practices. Lou worked with public and private-sector clients on topics across strategy, advanced technology, and improvement of end-to-end operations.
As technology’s role in business and our lives continues to increase, it is a priority for the firm to further invest in bringing advanced technology into our partner companies to drive growth and competitiveness. In this new role, Lou will foster the continued operational and technological innovation for McNally Capital’s current and future investments.
A seasoned technology leader, Lou also co-led a global effort at McKinsey to understand the future of manufacturing and technology in industry and advised on how companies and countries can best compete. After McKinsey, Lou co-founded Fast Radius, a technology company that introduced a new platform of software tools and tech-enabled manufacturing and supply solutions, where Lou served as CEO and Chairman.
"It is an honor to take on this role at McNally Capital. I am thrilled to join a firm with such a proud tradition of achievement and a commitment to upholding an exceptional environment for people and businesses to thrive. The firm's impressive track record is something we're eager to continue and build upon as we scale,” added Lou Rassey. “Having worked with Ward and the talented team over the years, I've seen firsthand their dedication to their portfolio companies and delivering attractive returns for investors. I look forward to leveraging my experiences and abilities to help McNally Capital grow, innovate, and succeed in the exciting road ahead.”
McNally Capital’s own history in business has earned itself a reputation for applying a “walked-in-your-shoes” approach to scaling investments successfully. Ward adds, “Empowering businesses as they navigate the growth journey is at the cornerstone of everything we do. Having a fellow entrepreneur as Co-CEO, we are even more poised to transform businesses to thrive. With Lou’s support, I can direct even more of my attention to establishing the firm as a differentiated leader in the private equity world.”
About McNally Capital
McNally Capital is a private equity firm based in Chicago, Illinois. The firm is currently investing out of its committed buyout fund, McNally Capital Fund II, LP.
McNally Capital is focused on acquiring lower middle-market businesses with $5 million to $20 million in EBITDA in the Aerospace & Defense/National Security, Industrial Products & Services, and Business Services industries. The firm seeks to apply its hands-on experience, institutional capabilities, and proprietary value creation framework to its portfolio companies to benefit management teams in their next phase of growth and build value for McNally Capital’s investors. The firm also leverages a deep bench of industry partners who provide incremental industry and operating knowledge.
Ward McNally founded the firm in 2008. He is a sixth-generation member of the McNally family, which proudly owned and operated Rand McNally & Company for over 100 years until its sale in 1997. These roots provide a deep appreciation of building and scaling companies that shape industries and endure for generations.