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quoting my comment from a different (recent) thread below.

"

just fyi, this is a corp dev role and not an investing/pe role like they advertise it to be. anybody in the industry will be able to identify this. they mislead undergrad students into thinking they're going to become pe investors when they are just a services roll-up and you'd be doing corp dev with a very very limited set of exit options. i mention this because i have a friend who works there and is struggling to exit. the only exits they have are into showroom sales or something and very very subpar corp dev/strat roles. you can tell from the quality of people who work there (the only person who claims to have a banking background there (morgan stanley) is a guy who didn't even make it to the end of the summer internship, forget getting a return offer). 

in many ways, they are also not doing very well (i work in close circles with their pe sponsor). mentioning this in case it helps anybody to not make a regrettable decision. good luck. 

"

as someone with a few more years of experience than you, be very careful about not falling for traps like this (i.e. a bunch of lmm operating execs telling you their 2-10 mm ebitda acquisitions will make you a successful pe investor). if you want to do corp dev in the lmm space, i hope your interview goes well. but this is not an investing role and it is not a private equity role. 

also, for future reference, you can look up firm exits on LinkedIn through the "past company" feature. hope this helps because i would really hate to see kids get fooled into roles they don't want to do. stay safe out there lol 

 

thank you so much. is it worth interviewing? i don’t have a summer for ‘26 but def don’t want to end up there from the sounds of it.

 

it depends on the kind of role you want. if you want to be an investor I would keep interviewing elsewhere, but if you're happy with a small-scale corp dev role then go ahead and interview with them. i am only cautioning you against the idea that this is an investing seat, it is not. 

either way, interview and try to get an offer and then leverage it to get a better one would be my advice. 

 

Any color on why they are not doing well? Have seen them continue to complete acquisitions. Is it lack of organic growth?

 

this is my view from just looking at them intuitively (this is derived from basic information on the business, i have not looked into the company as an investment) - there are a lot of inherent issues with the business model they have adopted. in a landscape where multiple expansion is no longer a key driver of returns, the focus should be integration and organic growth. their decentralised model rules out the main value-generating portion of a roll-up strategy i.e. integration. at this point they're just smashing together turds in the name of acquisitions. plus, it's rare to see a LMM roll-up whose strategy is multi-geography expansion - it's rare because it's a shit strategy. when you're targeting 2-10 mm ebitda businesses, expanding to australia and the uk instead and buying a couple small businesses in these countries is an absolute crapshoot of a strategy. but i suppose this is the consequence of letting (then) 25-year olds with 2 years of experience become "founders" of a portfolio company. 

 

Hey, 

I saw somewhere that said they get $1 billion revenue. I was wondering wether this is strict revenue from their holdings, or if they are counting non controlling revenue from companies they are invested in. Their business model still seems to generate good cash flow and the company culture is pretty good. 

 

from holdings. they have been around 8 years and for the number of acquisitions they boast about it's frankly embarrassing that they advertise that revenue figure. 

 

image-20250118160740-2

This is incredibly unprofessional. Cancelling an interview after it was scheduled? Seriously?

 

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