PE ODD
I moved from IB into LMM PE (the firm js very unstructured and disorganised) couple of years ago and wanted to understand how others handle operational due diligence.
We acquired a niche manufacturing shop/distributor and after closing found several issues: ~25% of sales were tied to one salesperson who left ( i had to step in and handle all his relationships), raw material prices increased significantly, and shop employees are now demanding significant raises after reportedly going 3 years without one under the old owner. The seller also didn’t allow us to interview employees pre-close.
For those who’ve done LMM acquisitions, do you have a comprehensive ODD workbook/checklist you use to make sure you don’t miss risks like these?