From Searcher to CEO: A Global Journey with Bill Rees.
A Round-the-World Journey Up the Pipeline: An Interview with Bill Rees, NCA Searcher turned CEO
In June 2025, NCA Portfolio Company CEO Bill Rees completed his acquisition of Cronus Technology, Inc., a Houston-based pipeline design firm known for its work in high-stakes engineering environments. We sat down with Bill to discuss his global career, his path to acquisition, and what it means to be part of NCA’s Operator-Led Search Fund Program.
NCA: Bill, your career in pipelines started in a unique and hands-on way. Can you share how it all began?
Bill Rees: I was born in London and started in pipelines at 17, working as a sewer man’s mate at Sewer Services Limited. After that, I earned a full scholarship to Manchester University, where I studied urban economics and civil engineering. I went back to Sewer Services as a project manager, but a major turning point came when I joined a private equity–backed venture. That company was later acquired by GE Oil & Gas, which gave me great exposure to process discipline and corporate rigor. Eventually though, I realized large corporate life wasn’t for me.
NCA: You launched your own consultancy soon after. What drove that decision?
Bill Rees: In 2007, I founded a consultancy focused on pipeline integrity and engineering solutions. That eventually led to a leadership role at T.D. Williamson, one of my clients. I moved from General Manager in Central Europe to Senior Director of European Operations, then to VP roles in Tulsa and across the Western Hemisphere. It was a great ride, but by 2023, I realized I’d hit a ceiling. I wasn’t looking for another startup, and traditional private equity didn’t offer the autonomy I wanted. I was ready to buy, operate, and grow a company myself.
NCA: What made you decide to join the NCA Operator-Led Search Fund Program?
Bill Rees: I looked at several models, but NCA’s Operator-Led Program stood out. It’s designed for experienced operators. That means people like me can launch a focused search and, once we find the right company, hit the ground running. From the beginning, every person I met at NCA seemed invested in my success. They provided support that let me focus on the part I enjoy—building and leading a business. Honestly, if I ever do this again, I wouldn’t go it alone—I’d absolutely do it again with NCA.
NCA: Tell us about how you discovered Cronus Technology.
Bill Rees: I launched my search on August 1, 2024, targeting about 400 energy and utility companies in the South-Central U.S. Amazingly, within days, a founder reached out through mutual industry connections. He’d run his company for 20 years and was ready for a change—but he cared deeply about what would happen to his team. He said, “If we can arrive in the right neighborhood of price, it’s all about how you’re going to look after my team.” And he really meant it. We aligned quickly on the financials, then focused entirely on culture and the future of the business.
NCA: What stood out to you about Cronus Technology?
Bill Rees: CTI specializes in extreme pipeline design challenges—subsea, harsh environments, anything with zero margin for error. What attracted me immediately was the culture. The team is hungry, humble, and smart. They have deep engineering knowledge and a relentless commercial mindset, but there’s no ego. Their success is built on making their customers look good, often behind the scenes. That combination is rare—and powerful.
NCA: With this acquisition, you’ve now worked across the full pipeline lifecycle. How does that feel?
Bill Rees: It’s been a full-circle moment. I started by fixing old, collapsed pipelines. Then I moved into assessing integrity and extending life. From there, I worked on commissioning and pre-commissioning. And now, through this acquisition, I’m part of the design stage—the very beginning of the pipeline lifecycle. It’s incredibly rewarding to have that complete perspective.
NCA: How has stepping into the CEO role shaped your perspective on leadership?
Bill Rees: What matters most to me is staying connected to the frontline and being a servant leader. I’ve implemented an entrepreneurial operating system across the business so that we can grow with discipline. As CEO, I’m accountable to both the investors and the people on the ground. The autonomy is fantastic—but it also means there’s no one else to hide behind. The buck stops with you. And I actually like that. Ultimate autonomy comes with ultimate accountability.
NCA: Any final thoughts on your journey or advice for other aspiring searchers?
Bill Rees: My advice would be to find a structure that lets you play to your strengths. For me, that was NCA. They trusted my domain knowledge and gave me the platform and support to succeed. Their model works—and the people behind it genuinely care. If I were doing this again, I wouldn’t change a thing.