Sourcing Acquisition Targets
Hey guys,
I just landed my first job as a PE associate, focusing on M&A for our portfolio companies. I've been using Google and CapIQ to moderate success but it's almost impossible to tell their size. The only real way I've found success is through networking. Anyone know of any easier ways to reliably source acquisition targets?
I used Hoovers when working with a search fund
Acquisitions: Sourcing in New Markets (Originally Posted: 10/13/2017)
What is your guys' favorite way to establish a sourcing network in a new market in which your home office is not located? For example, you are based in SF and your company is hunting for deals in Portland, or something similar. Besides establishing relationships with your product type brokers, any other favorites? I am used to mostly development execution but need to expand this skill set and looking for recommendations. I spend a limited amount of time in these out-of-state markets but can support intermittent trips to dig up leads. Any thoughts appreciated.
Pick neighborhoods or submarkets you like and literally just drive around. I focus on MF so I will start near the retail and drive around till I see an interesting value add MF deal. Things I look out for terrible exterior paint color, poorly maintained landscaping, and large enough deals 100+ units. If I see a deal that looks interesting I'll shop it and look it up on CoStar then reach out to one of the local brokers to get in contact with the seller. If you don't have couple of days in the market you can easily research online on CoStar a few assets that look interesting but I personally love driving neighborhoods.
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