EQT Real Estate Secures Record $3.5bn European Logistics Fund
Fundraising alert: @eqt Real Estate closes record European logistics fund at $3.5bn hard-cap Read the full story here: https://t.co/r3mrXSHDAM https://t.co/Y3pqTMbiu2
Think Beyond: Ask Everyone, Not Just the Obvious
.@willguisbond asked @SecDuffy who he had asked if they wanted to buy @SpiritAirlines: "The better question is who haven't I asked?"
Middle Eastern Funds to Own 38.5% of Paramount‑WBD
Paramount-Warner Bros. Discovery Will Be 38.5% Owned by Middle Eastern Funds Following Close: Filing https://t.co/mg2Z2deDyN via @variety
Industry Experts, Not Finance, Drive PE Rollup Success
Lessons from 137 acquisitions Robert Irving of Buffalo Growth Partners shares what he learned from building a fire protection business from zero to $20 million in revenue, selling it to private equity, rolling equity, and then helping execute a 137-company rollup. @aggieirving...
Master Consolidation: Build Board, Source Off‑Market, Close Quickly
are you a $1M–$100M business owner? the cold blooded consolidator in your market: – built a board before sourcing – sourced off market before listing – structured vendor finance before offering – closed before you knew they were looking
Private Equity, Big Tech Layoffs, AI Data Center Backlash Highlighted
🆓 Monday links: private equity beliefs and behaviors, Big Tech layoffs, and the growing AI data center backlash. https://t.co/iSs0GtqYNR image: https://t.co/aDDJ3Lbd8y https://t.co/VLKSi4UHZ9
Eli Lilly Acquires Ajax to Strengthen JAK Pipeline
Lilly to buy startup Ajax in bid for a better JAK drug https://t.co/RMQQZ4mRFG $INCY $BMY $LLY $TAK #biotech #startups
Buy a Profitable Business Instead of Starting From Scratch
Entrepreneurs: Stop building from scratch when you can BUY a business already making money. Learn about Entrepreneurship Through Acquisition
T‑Mobile, Verizon Urged to Chase Charter Now
"T-Mobile and Verizon should attempt to acquire Charter for massive value creation opportunities. The Trump Presidency is the time to try. A merger with Comcast is far less valuable, but better than doing nothing." via Peter Supino at Wolfe Research
From First Angel to $4B Spinout: Boomi’s Evolution
Boomi was my first Angel investment. We were their customer at Half dot com in 2000 and used their system to send / receive inventory and orders with sellers. Then eBay signed up. Acquired by Dell in 2010 then spun...
Operating Expertise Fuels Garnett's Disciplined Buy‑and‑build Growth
Operating experience, speed, and disciplined scale define Garnett Station Partners’ buy-and-build strategy. Co-founders Alex Sloane and Matthew Perelman share their path from franchise operators to investors, plus their playbook behind sourcing, integration, capital allocation, and long-term value creation. https://t.co/aXSbsUHr9g With thanks to...
Tikehau Capital Hits €53bn AuM, 64% IRR After Schroders Exit
Q1 in focus: @Tikehau_Capital grows AuM to €53bn as Schroders exit delivers 64% gross IRR Get the full scoop here: https://t.co/lT7Wc2omop https://t.co/bxMRxd9rcW
Four Pharma Deals Showcase Hefty Premiums, Billions at Stake
Today's M&A notes $ARX.to to be acquired by $SHEL.LN for $8.20 cash per share + 0.40247x shares, 26.6% premium, $22.0 billion $OGN to be acquired by Sun Pharmaceutical for $14.00 cash per share, 138.9% premium, $11.75 billion $RMAX to be acquired by $REAX...
Deal Quality, Not Partners, Drives Rapid Acquisition Surge
Had a quick 30 minute conversation with a guy who has done six acquisitions and is working on another three right at that moment. "Finding operating partners has not been difficult. The issue is not finding people; the issue is finding...
VRT Acquires Firm to Boost Liquid Cooling Expertise
$VRT: makes another acquisition to further strengthen its liquid cooling system and engineering expertise. https://t.co/1DyyOBJIc8
Pentagon Reimagined as a Venture Capital Firm
What would Eisenhower say? The man turning the Pentagon into a venture capital firm https://t.co/3QKm6nPCv5
Apollo Spins Off Forvia's Interiors Into Independent Automotive Powerhouse
Apollo carves out Forvia's interiors division to build a standalone automotive powerhouse Get the full story here: https://t.co/ClxFXkMKGi https://t.co/joSxZzeNvD
Control the Close: 3C Method Doubles Business
double your business using 3C closing control: – timeline: you set it – structure: engineered before the call – exclusivity: locked in the NBIO – due diligence: you run the clock – close: you call the date amateur buyers let sellers conduct 3C operators dictate the orchestra business doubled before the...
Build Trust First: Solve 4 Core Concerns Before Pricing
double your business using the 3C seller psychology: they're not selling a price they're solving: – legacy anxiety – staff protection – customer continuity – certainty of close solve all four before tabling a number vendor finance follows trust trust follows the 3C approach
EQT’s Asian Portfolio Spans SaaS to Healthcare
What companies has EQT acquired in the past? - Fortnox (accounting SaaS and a peer to freee) - Nord Anglia Education (education) - Benesse (Japan nursing care) - Fujitec (elevators) - Indostar Home Finance (consumer finance) - Indira IVF (healthcare)
Magazine Covers Lag; Direct Deals Become New ETA Norm
The magazine cover indicator? The old contrarian tell: by the time a trade is on the cover of Time or Forbes, it's already crowded. At least be aware of the signals... Last 48 hours on X: chatter out of an SMB conference...
Elon Musk's $44 B Deal to Acquire Twitter Finalized
#ThisDayInTechHistory. April 25, 2022. Elon Musk's $44 billion offer for Twitter was accepted. (ABC News) #SocialMedia #Internet #History @ElonMusk https://t.co/y1BdWvkC1e
One Restructure, Three‑fold Exit Multiple Boost
triple your exit multiple using one restructure: single business: – 3–4x EBITDA – one buyer – their terms holdco with 23 acquisitions: – 10–12x EBITDA – PE firms competing – your terms same earnings one restructure 3x the outcome
Acquire a Business with Zero Cash Using Vendor Finance
double your business overnight without spending a dollar: – find retiring owner in your sector – structure 100% vendor finance – business pays for itself – personal capital: $0
PE's SaaS Cash‑flow Predictability Now in Question
Good primer from @DavidSacks on private equity ownership of SaaS (software) firms based on cash flows whose predictability used to be certain but now is in question. A topic which @maxwiethe have been covering a lot on our show on...
Turn Due Diligence Findings Into Price‑Cut Leverage
the cold blooded approach to due diligence: finding 1: owner add-backs → reprice finding 2: declining margins → restructure finding 3: key person risk → earn-out finding 4: customer concentration → discount every problem: a negotiating tool every finding: a price reduction never skip it never be emotional about it
Deal with Certainty: Decisive, Cold, Never Flinching
being masculine in M&A: not: – apologising for your offer – softening your structure – backing down from your price – accepting bad terms to close being: – decisive on the NBIO – direct in the LOI – cold in due diligence – willing to walk the deal respects certainty not flexibility the...
AI‑savvy Firms Drive M&A Surge Amid Volume Slump
M&A is surging this yr, but it’s very specific activity. From RBC’s Vito Sperduto: "The U.S. market is up 43% YTD, but deal volume is down 30%. This isn't just a rebound; it's a consolidation of power by those who...
China PE Pivots to Hard Tech, Old Sectors Collapse
Yicai: "China’s private equity market is showing a sharp split. “Hard tech” industries such as robotics and advanced materials are attracting most of the capital, while previously popular areas such as second-hand e-commerce and apparel have seen funding drop by...
Big Firm Buying Small One—Unless Owned by Ellison
When a $9 billion company combines with a $900 million company, it is buying the $900 million company.* Use whatever language you like... *Unless the $900 million company is owned by David Ellison. https://t.co/nYS3D359sO
United CEO Negotiating Purchase of Rival Airline Assets
United CEO Says He’s In Talks To Buy Assets From Another Airline - View from the Wing https://t.co/Ow68rGKOE9
AI Rollups Must Drive Revenue, Not Just Cut Costs
The secret to pulling off a successful growth buyout / AI rollup strategy: "I could not be more aggressive about this statement. Cost synergy does not create durable growth in M&A. Any application of AI to an old-world business that focuses only...
PE Treats Sports Teams Like Fund, LPs Await Returns
PE guys focusing on running sports teams while their LPs wait for distributions is the asset class in one sentence.
PE Sells Top Assets, Forcing Redemptions and NAV Decline
As Geoffrey so eloquently puts it: The Private Equity boys go and liquify their best assets first. Why? Because they can liquidify those, then they serve redemptions. But as redemptions continue, they are running out of good assets and then the NAVs...
Call Owners Directly for Off‑market Deals, Avoid Competition
STOP competing for listed deals START calling owners before the broker does off market no competition motivated seller you control everything
Business Models Flip: Old Advice Now Obsolete
The world is turning upside down. We have media companies being bought at crazy levels, which didn't used to happen. SaaS company margins and market caps are plummeting. Services businesses are getting 70% plus margins and are commanding premiums. Everything that...
United's JetBlue Deal: Prime Opportunity or Strategic Bluff?
Now Is The Ideal Time For United To Buy JetBlue… Or Was It All A Bluff? https://t.co/81pmP2nSDB
Cash Flow Beats Leverage: Keep Working Capital Strong
Working capital is the oxygen of a business. Yes, you can buy a business with 95% leverage - here is why you shouldn’t… Running out of cash is the single biggest reason businesses fail. You will likely never be mad you...
Generous Founder Secures 44 Investors for Australian Acquisitions
Great entrepreneurs and even better people. Having known Jason for a little longer, he's always been very generous. Sharing thoughts and feedback on content, looking at the few deals I wanted to close. Going as far as saying he'd be keen...
Distressed Sellers Price Anxiety, Not Asset Value
FTX sold a 5% stake in Cursor for $200K during bankruptcy. SpaceX just bought Cursor for $60B. That stake: now worth $3B. Distressed sellers don't price assets. They price their anxiety. The record was always in the bargain bin. https://t.co/EGR4YqhZKc
Quiet $10M+ Exits Thrive Across Ten Service Sectors
10 industries producing quiet $10M+ exits: – radiology networks – waste platforms – HVAC rollups – trucking fleets – pest control networks – dental groups – physiotherapy chains – senior care facilities – security firm portfolios – behavioral health groups
PE Interviews Demand Impossible LBO Modeling From Rookies
we need to broadcast PE associate interviews this way… like imagine David Sambur screaming at a first-year GS analyst demanding an LBO model with multiple cash sweeps, IPO and M&A exit toggles, etc.
CAR‑T Turnaround: Kelonia’s LLY Deal Signals New Pharma Play
A VERY SPIRITED interview w/ Venrock VC Bryan Roberts re: Kelonia Therapeutics and its $LLY deal on this week's Readout LOUD podcast. A CAR-T biotech’s dramatic turnaround, and drugmakers’ tactics to drive more scripts https://t.co/600DsE1cBm via @statnews
Musk Could Acquire PayPal for $45B, Merge Into X
At $45 billion valuation - Elon Musk should just buy PayPal and integrate it into X (finally).
Polygon Sold for $20M, Triggers Mass Layoffs
It's been almost a year since Polygon was sold to Valent and hit with mass layoffs as part of the deal. Adweek now reports the sale price was $20 million. https://t.co/GuKFgrZsAx
Strategic Risks Keep Tesla and SpaceX Separate for Now
From a strategic standpoint, what’s the argument for not just merging Tesla and spacex now and getting it over with?
Self‑Dealing Mergers: Sabotage A to Boost B
If you controlled Company A and planned to merge it with Company B, which you also controlled, wouldn't you d9 all you could to diminish the value of Company A, by piling on enormous capex that ultimately benefits Company B,...
Athletes Join L Catterton to Accelerate Consumer Brands
News: Investment firm L Catterton and Patricof Co form partnership to pursue investment in consumer brands where athletes can drive growth. CHAMP - Champion Athlete Managing Partner - will be co owners of portfolio companies. Participating athletes ⤵️ Story to...
Thoma Bravo Set to Lose $5.1B on Medallia Handoff
Private equity firm Thoma Bravo is nearing an agreement to hand over software firm Medallia to its lenders. The move will wipe out $5.1 billion in equity for Thoma Bravo and its co-investors, who bought the customer service software company...
Private Market Hype Debunked: Boring Insulation Acquisition
All the stuff about how the only good returns are happening in private markets is straight up disinfo from grifters. Here is a chart of the insulation co that $QXO is buying. Literally just insulation. So many charts out there...