Andrew Simmons
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Hey Andrew — similar IB → PE path. Been thinking a lot about proprietary origination in lower middle market services lately. Would be good to connect.
Hey Andrew, see we share a similar PE path, though I was in London doing growth equity not building a holdco in Chicago. most funds at this stage have stacked up a pretty solid toolkit — PitchBook, a CRM like Affinity or DealCloud, maybe Grata, sourcing consultants, the works. but even with all of it, proprietary deal flow often stays thin or inconsistent. the off-market stuff doesn't compound because thesis, network, and intelligence never fully sync into one system — so origination basically resets every cycle instead of building a real edge. interested if that's the reality at Turnout or if things look different on your end? — Russ
Hey Andrew, see we share a similar PE path, though I was in London doing growth equity not building a holdco in Chicago. most funds at this stage have stacked up a pretty solid toolkit — PitchBook, a CRM like Affinity or DealCloud, maybe Grata, sourcing consultants, the works. but even with all of it, proprietary deal flow often stays thin or inconsistent. the off-market stuff doesn't compound because thesis, network, and intelligence never fully sync into one system — so origination basically resets every cycle instead of building a real edge. interested if that's the reality at Turnout or if things look different on your end? — Russ
hey Andrew — was thinking about this more. when I was doing growth equity we had every subscription going — PitchBook, CRM, enrichment tools, the lot — and I still spent half my time manually pulling origination together across all of it. always wondered if that was just us being disorganised or if it's genuinely universal. did you ever run into that at Turnout, or was it just us? — Russ
hey Andrew — appreciate the connect either way. I'm in and around lower middle market origination all day — if you ever want to swap notes on what's working, I'm easy to find. — Russ
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Prospect Research
## PROSPECT INFORMATION: Name: Andrew Simmons Title: Partner Fund: Turnout Industries Background: Andrew Simmons is a Partner at Turnout Industries, a Chicago-based diversified holding company he co-founded in 2020. He focuses on middle-market private equity, specifically investing in companies with $5M to $50M in revenue. His background includes significant experience in mergers and acquisitions, transactional due diligence, and financial modeling. Before Turnout Industries, Andrew spent over a decade as a Principal at High Street Capital (2009–2020) and held leadership roles at Hilco Equity and Lincoln International. He holds an MBA from Dartmouth College (The Tuck School of Business) and a B.S. in Business Administration from Washington and Lee University, where he also played varsity football and hosted a radio show. Key Skills: Private Equity, Mergers & Acquisitions, LBO, Financial Modeling, Valuation, and Portfolio Management. Recent LinkedIn Activity and Quotes: July 15, 2025: Andrew announced a new hire, stating, "We feel excited and fortunate to be able to make a tremendous addition to Turnout. I've really enjoyed working with Zach DuCharme during his time as an intern with us, and I guess this means Michael Lazarczyk is no longer the young guy." January 15, 2025: Celebrating a promotion within the firm, he wrote, "Mike has been an essential part of Turnout since day one and he embodies the elements of great teammate: always prepared, reliable and enthusiastic, and generally one step ahead of the rest of us." October 10, 2023: He shared a recruitment post for a "hands-on Chief Financial Officer responsible for the accounting and financial functions of Turnout's portfolio companies." June 19, 2023: Regarding industry networking, he posted: "I am looking forward to seeing everyone this week at the ACG Boston DealFest. If you plan on attending, feel free to message me and we can connect!" November 11, 2022: Shared an investment milestone, saying, "Really excited to work with a fantastic group of people at North Point Associates." September 7, 2022: Celebrating the firm’s growth, he noted, "Turnout Industries just turned two! ... They grow up so fast." Fund details: - Description: Turnout Industries is a Chicago-based diversified holding company investing in companies with $5mm - $50mm of revenue and at least $1mm EBITDA. We are committed to approaching each investment opportunity with the appropriate mix of humility and relevant experience. We prefer candor and believe in straightforward communications. We are an excellent partner to management teams and good stewards of our businesses. - Website: https://turnoutindustries.com/ - Location: Chicago, Illinois, United States - Lead qualification: Research: - Query: =Turnout Industries Andrew Simmons recent investments fund thesis - Answer: Andrew Simmons is a partner at Turnout Industries, a Chicago-based private equity firm focused on lower middle market companies. He has over 20 years of experience in leveraged buyouts and growth equity investments. Turnout Industries was founded in 2020.