Hi it seems like the WSO guides all focus on M&A sale process but I would greatly appreciate some clarity on how to talk about a buyside M&A experience in the context of PE recruiting.
Given the most crucial factor was accretion / dilution to shareholders, we didn't build an LBO model or anything. Would appreciate any thoughts here
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I was in a similar position as you when I was recruiting for PE roles (only had strategic M&A experience) and ultimately didn't have any issues. If I were interviewing you, I'd probably ask if you think the asset would be a good LBO candidate and for what reasons in favor (i.e., strong cash flow characteristics) or against (i.e., single customer concentration). Likely throw in a question about debt capacity and what you think it could support (moreso to just hear how you think through it) and something vague about cost of capital.
In my experience, people who interviewed me were less interested in whether the deal was a run of the mill sponsor process and more interested in hearing the strategic rationale and investment merits (but in the context of a sponsor lens).
Thank you! Should I be prepared to respond to how / if the company we advised would make a good LBO candidate or focus on the asset we acquired?
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