Arsenal Capital Partners - 2023 Insights
Any new info on them? Saw they closed on 5.4B not too long ago, which means they have a lot of dry powder, and they're looking to deploy it. Any insights regarding performance (not fund performance, rather team performance since I know they have two separate teams and how they would stack up against other UMM funds) and their "high-impact company building capabilities" strategy (which seems to involve a lot of add-ons) are appreciated.
Their chemicals team is sharp but they tend to do the same type of platform over and over again. For example, they built two separate adhesive platforms that they sold to AmSec in two separate occasion in the past couple of years. I imagine it gets old you are cranking small ad-on adhesive bolt ons 24/7.
the culture in the healthcare team isn’t great. Apparently it’s better in industrials.
Also remember hearing comp was below market but maybe they increased with the new fund?
Extremely fratty. Principals on healthcare team are notorious for being A-holes. One is extremely passive aggressive, the other just a direct aggressive.
Would rank then as a 9.5/10 on scale of politicking.
Their industrials franchise is decent and they’ve been trying to reduce the fratty culture by diversifying their team.
Would not characterize them as “UMM”. They’re smack MM. I
I interviewed for their HC team a couple of years ago and the Principals seemed nice. Not sure how they are to work for though…
Fratty? These guys are nerds without any personality. They can't carry a conversation if it isn't around work. I'm not sure they've been laid in years.
Who is the passive aggressive one - R or T?
Bump - any insight on Bschool / exits
Interesting that an investor at D1 exited to go to Arsenal. Would think that D1 is the much better opp
Interesting
Have heard good things about them
They are an interesting group - basically parade around certain subverticals telling everyone they are going to overpay. They certainly will, but diligence processes are a nightmare. Tons of redundancy, poor communication and no thought is done by anyone Principal or lower.
That being said, they pay market clearing prices in many cases. It will be interesting to see how things work out 5 years from now.
Can you elaborate on this
Anything specific you want me to elaborate on?
So are you expecting them to not do well in the next few years given they paid too high?
I am 50/50. They bought several at peak market multiples. I do believe they have some real value additive strategies, but how that offsets potential multiple compression remains to be seen.
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