M&A at PE portco or Corporate M&A?
I know this question is certainly more personal in nature and hard to get advice without a lot of details but just throwing it out there. I’ve been in corpdev/M&A for 7 years, mostly at publiccos after initially starting in FDD at a big4. My current company is pretty unstable so I’ve been looking. Profitability and technology concerns in a nascent industry. Currently have an offer for another publicco and would be the #2 on the team. Definitely appears more stable with good experience above me to continue to learn. Targets would likely be tech type assets though the company is not in tech, but working through a digitization. This appealing since my background is mostly manufacturing/CPG and energy. I’m also very close to receiving an offer at a large portco (+$1bn rev) of a PE right outside the top 10, to similarly be the #2. Current team there is a team of 1. Typical roll up strategy. Equity not currently on the table but valuation is already high so working on negotiating a transaction bonus when they have a liquidity event. Management represents the PE is relatively hands off as most of the c suite has been intact pre-buyout. Trying to think through the options so any thoughts are much appreciated. The instability of my current company has given me more responsibility so I’ve been enjoying that entrepreneurial mentality but I also have 2 young kids and the level of volume/activity with limited resources could be a bit daunting for the portco. That’s assuming management is misrepresenting to an extent. Cash comp is similar for both (and a bit lower than I’d want but completely manageable). Publicco has a reasonable annual equity grant and TBD on more as I noted on the portco. I have no idea what I want to do in 10 years (currently 36 now). Typical millennial lol. Thanks all!
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