PE Rollup Interview
Hi all,
Interviewing at a MM fund that focuses on rollups. I'm pretty well-versed in 'standard' buyout and growth PE, but would be great to get some pointers as to the types of deal type-specific questions I might face. Initial thinking was:
1. Why do rollups?
2. What market/competitor dynamics make for an attractive rollup opportunity?
3. What makes for a good platform deal?
4. Rollup strategy
5. Accretive / dilutive acquisitions
6. Exit strategy / multiple expansion
The questions you've listed are all likely to be asked in some form or fashion - at a high level, you want to chase highly fragmented industries that have barriers to organic growth (eg. highly contracted), comprised of unsophisticated players that trade for low multiples vs. your entry and offer material benefits of scale (savings via consolidated back office / purchasing / inventory, ability to serve multi-regional customers with larger footprint, consolidation of highly skilled labor, etc.).
I'm guessing this is a lateral position given your tag - you will likely get a lot of grilling around your deal experience and your ability to lead aspects of the transaction at a VP-like level. Most buy-build PE firms (from what I've seen) usually have partners/principals chasing the platforms while VPs are providing high-level oversight of portco M&A and the associate is quarterbacking much of it with the portco CFO or VP of M&A. Be ready to talk about managing third parties, running with term sheets / LOIs, etc.
Eos aut aut eveniet. Aut voluptate corporis eveniet et eos qui nulla. Ut ut nulla accusantium fuga et aut.
Eaque eius qui labore aut quia. Numquam voluptatibus eos temporibus eum est voluptatem fugit. Tempora enim recusandae est architecto quam et.
Dolorem impedit provident odio et deleniti. Voluptates itaque nesciunt minus et voluptatum atque repellendus. Dolores ipsum doloribus architecto iure et. Nemo blanditiis incidunt quia tenetur possimus. Et alias sit ut modi sed sed.
Voluptate nulla sapiente est corporis. Quis aut voluptas dolor voluptatem. Quia veniam possimus fuga harum.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...