Beyond the Perforated Sheet: McNichols’ New President Signals PE-Fueled Growth

TAMPA, FL – July 08, 2026 – The announcement of a new president at an established company is standard corporate fare. But when McNICHOLS CO., a nearly 75-year-old titan in specialty metals, named Mateus Panosso as its new President, the move signaled far more than a simple leadership transition. It represents the first major strategic play since private equity firm One Equity Partners (OEP) made a significant investment in the company in October 2025, setting the stage for a new era of aggressive, calculated growth.

For decades, McNICHOLS has been a fixture in the industrial landscape, building its reputation as North America's largest distributor of “Hole Products”—perforated metals, wire mesh, and grating. With 19 service centers, it has a formidable operational footprint. Now, with the backing of a major private equity player and a new president handpicked for his expertise in scaling businesses, the company appears poised to transform its market leadership into market dominance.

The Private Equity Playbook in Action

The appointment of Panosso is a classic move from the private equity playbook, and a clear indicator of OEP’s strategy for its new portfolio company. OEP, a firm known for executing “transformative business combinations,” doesn’t invest to maintain the status quo. Its model is built on acquiring market-leading companies and accelerating their growth through operational enhancements, strategic acquisitions, and market expansion. The investment in McNICHOLS was the starting gun; hiring Panosso is the first lap.

Bringing in an external leader with a specific skill set is a deliberate choice. Panosso isn't just a seasoned executive; his career reads like a blueprint for what OEP likely envisions for McNICHOLS. His extensive experience in scaling geographically dispersed industrial businesses, combined with a deep background in corporate strategy and M&A, aligns perfectly with a strategy centered on consolidation and expansion. This move suggests that McNICHOLS is shifting gears from steady, organic growth to a more dynamic phase where strategic acquisitions and operational optimization will become central to its identity. The nationwide search led by CarterBaldwin Executive Search underscores the strategic importance of this role, ensuring the candidate was not just qualified, but precisely aligned with the investors' vision for value creation.

An Architect of Industrial Growth

A closer look at Mateus Panosso’s career reveals why he is the ideal executive to lead this charge. His most recent role as Head of Company-Owned Distribution at Wilsonart, another private-equity-backed entity, provides a direct parallel. There, he was tasked with professionalizing and scaling the company’s distribution arm, driving growth through acquisitions, opening new facilities, and expanding value-added service offerings. This experience is directly transferable to McNICHOLS, which already prides itself on being a “value-added distributor and fabricator.” Under Panosso, this value-add component is likely to see significant investment and expansion.

Before Wilsonart, Panosso honed his strategic and transactional acumen at Armstrong World Industries (AWI). He built the company's corporate M&A function from the ground up, executing multiple acquisitions while also leading complex divestitures of international business units. This dual expertise in both buying and selling assets demonstrates a sophisticated understanding of portfolio management that will be invaluable as McNICHOLS navigates a potentially acquisitive future. His earlier P&L leadership roles at DuPont, which included responsibilities in Latin America, add a layer of international operational experience that could inform future geographic expansion.

“I am very excited to welcome Mateus to the Hole Team,” said CEO Scott McNichols in the official announcement. “He joins us at an important time in our nearly 75-year history. Mateus is passionate about growth, serving others, and leading with customer-focused values, which align with our organization.”

This endorsement from the existing leadership is crucial. It signals a unified front and a shared commitment to the new trajectory, aiming to blend the company’s established culture with a fresh, growth-oriented mindset.

Navigating a Dynamic Industrial Landscape

Panosso takes the helm at a pivotal moment for the specialty metals and industrial distribution sector. The industry is shaped by powerful crosscurrents. On one hand, demand is fueled by major secular trends, including renewed government investment in infrastructure, a potential resurgence in North American manufacturing, and the construction boom. On the other hand, distributors face challenges from volatile raw material prices and persistent supply chain vulnerabilities.

In this environment, scale and efficiency are paramount. McNICHOLS’ existing 19-center network provides a strong foundation, but the market remains fragmented, with numerous smaller regional players. This presents a clear opportunity for a well-capitalized leader to consolidate market share. Panosso’s M&A background at AWI and his experience driving acquisition growth at Wilsonart make him uniquely suited to lead such a strategy. The goal will likely be to build an even more resilient and efficient national platform, capable of offering a broader range of products and services with greater consistency than smaller competitors.

Furthermore, the trend toward customization and value-added services plays directly to McNICHOLS’ strengths. Customers are no longer just buying perforated sheets or wire mesh; they are seeking partners who can provide fabricated, finished, and just-in-time solutions. By leveraging Panosso's experience in enhancing service offerings, the company can deepen its relationships with existing customers and attract new ones, moving further up the value chain and protecting its margins from commodity price pressures.

Balancing Heritage with Ambition

The greatest challenge—and opportunity—for Panosso will be to steer this ambitious growth agenda while preserving the core culture that has defined McNICHOLS for three-quarters of a century. The company’s long history and its self-described “Hole Team” speak to a strong sense of identity and employee loyalty. The transition from a family-founded company to a PE-backed growth engine can be fraught with cultural friction if not managed carefully.

The leadership structure, with Scott McNichols remaining as CEO to support Panosso as President, appears designed to bridge this gap. It allows the company to retain its historical continuity and values while integrating a new leader focused on executing a high-growth strategy. The public alignment between the CEO and the new President suggests a collaborative approach, where the legacy of the company is seen as a foundation for future success, not an obstacle to it.

Ultimately, the appointment of Mateus Panosso is the most tangible evidence yet of the new chapter that began for McNICHOLS in 2025. It is a declaration of intent from its new backers and a clear signal to the market that this established industrial leader is preparing for a period of significant and strategic transformation.