Investors like Brad Jacobs...
I've been reading about Brad Jacobs and his successful companies, (united rentals, waste management, XPO etc..) and was interested in understanding the space and strategy better.
Who else has been successful by following a similar playbook, (identifying industries ripe for consolidation and building successful companies through accretive M&A rollups...)
Thoughts on similar firms and the strategy, in general, are welcome as well,
Many thanks,
did you read his new book? if so how was it?
is this not what every middle market fund tries to do…
I'm not sure, hence the question.
I'd assume Jacobs takes a longer view of the firms he acquires and isn't focused on short term IRR's or potential for dividend recaps etc.
Probably also much more operational-minded and selective on the M&A opportunities..
these are the talking points at pretty much every generalist MM fund’s AGM. I also haven’t read the book, but if it’s what you’re describing, nothing new under the sun.
The Roll up strategy has been around since the inception of PE, and was very successful over the last few decades due to the "perfect" economic environment for it. His book actually looks interesting and I will report back after I read it, but I have a hunch that it won't be groud breaking for anyone in the PE space.
I started the book, seems much more focused on general business/entrepreneurial advice than from investor perspective and his journey..
I agree - I read the book as it was a quick read but would not recommend for those hoping for deep insights on his investment thinking. Generally it was high-level and or general business principles.
Bump here
I wonder how much overlap there is between the strategies of john malone of TCI and Brad Jacobs...
They have absolutely nothing in common you simp.
I can't believe people are comparing Brad Jacobs to PE firms executing roll ups...
Brad Jacobs is a god tier entrepreneur with the ability to execute. He understands how businesses work at a fundamental level. This is because he built and sold several businesses from nothing. His approach is completely different than some mediocre PE firm run by some risk adverse clown.
Someone with that level of understanding can execute on a totally different level than your avg PE firm.
Thoughts on QXO?
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