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18 results for “acquisition story”
which is now called Vertivore. That was the first buyout I'm aware of. There was probably a few others that were not done by private equity firms, but it was certainly one of the earliest buyouts in private equity in 2099. We just started to see the
43:29 / 44:33
from transcript43:29 – 44:33
...Acquisitions don't happen overnight. Companies that get acquired success get acquired successfully aren't scrambling to clean up their financials when the offers arrive. Next up is this concept, of lines, not dots. One of the biggest myths in m and a
9:44 / 10:51
from transcript9:44 – 10:51
in nearly every industry. So as a public market investor, if you can identify those opportunities, select them where the management team has the right leadership in place to execute against this, you could make real money. The problem is most of thes
29:02 / 30:14
from transcript29:02 – 30:14
...on our last acquisition. Right? So it's just one of those. But we can take any funnel where there's heavy data, heavy experiences, and use our technology to basically yield a lot more out of the same flows. That that has happened time and time again
19:27 / 20:38
from transcript19:27 – 20:38
that aspect of operational improvements along the way? Certainly, we would spend a lot of time with the managers, try to understand what it is they were doing with their companies once they had bought them, meeting the operating talent and trying to
10:28 / 11:31
from transcript10:28 – 11:31
...record with acquisitions? How do they handle integration? What's their culture really like? And especially if there's a significant amount of the deal consideration that involves stock, you're not just selling your company. You're trading it for a pi
13:28 / 14:31
from transcript13:28 – 14:31
...every deal is a story deal. So the first goal was earn high returns. The second goal, though, was we felt like the best diligence you could do on a sponsor before they raised a fund one was to make prefund co investments because that would give us th
23:47 / 25:03
from transcript23:47 – 25:03
There's two really real reasons that they can pay bigger valuation multiples for the companies on the sale from our managers. One is the companies are just better, higher quality. So that gives them the ability to do it. The other is they have the ab
45:00 / 46:05
from transcript45:00 – 46:05
National Gypsum, US Gypsum, that's RJR Nabisco was the biggest of the buyouts. It almost went under, but not quite. So that changed things. It made it hard to get the capital for buyouts. The leveraged buyout business actually had to reinvent itself.
13:29 / 14:31
from transcript13:29 – 14:31
You're selling a product. A product is a business to some financial or strategic buyer. What are the features that they look for in a product, and how do you think about that final part of the chain here? So picking the actual buyer over 14 out of 14
51:20 / 52:49
from transcript51:20 – 52:49
always keep that franchise. They can blow it along the way, and we had a few of those over the years. But once you create that positive feedback loop, it's a pretty powerful thing in the venture business. Buyout business was harder. A lot more of it
8:54 / 10:39
from transcript8:54 – 10:39
That was the reason you didn't wanna give him cash. Now he could afford a house. He's not gonna work so hard. And we just felt like, if we break it, we can own it and we can manage it. We just got a lot more confidence as we did more of these that if
42:43 / 43:48
from transcript42:43 – 43:48
I wish I could say I was smart enough in the front end to plan this, but I got a little bit lucky, I think. Our moat is the volume. The number of transactions that we do creates an ecosystem, creates a deal. Young professionals work at short capital.
17:54 / 19:03
from transcript17:54 – 19:03
I'm not sure this deal will actually happen. Don't get too focused on it. And there's a lot of early stage investors that have been in the deal for much longer than we were, and we're very excited to get to a liquidity event. Yeah. And the deal didn'
11:15 / 12:22
from transcript11:15 – 12:22
So we're using it directly in the portfolio in investments that we're investing behind, but we're also using it in tools in a business like Sedgwick that is managing claims, And how do you use the AI tools to be more efficient in how you get at, at a
20:17 / 21:22
from transcript20:17 – 21:22
...sort of acquisition more broadly? Yeah. I mean, what we try to not do, so let's start with a simple thing, is a lot of companies, especially at scale, they'll buy revenue. So they'll look at a company and they'll say, hey. This company is this size.
33:22 / 34:47
from transcript33:22 – 34:47
we've bought folks out completely if that's really what they wanted. And we've had folks say, I want to roll over 49 I wanna be 49% of the new company going forward. You guys get 51 Broadway, I get 49 because that's how excited I am about the future.
45:43 / 46:47
from transcript45:43 – 46:47
disappointments. But having said that, the LOI process is competitive and brokers want every penny they can get. And, sure, they care about whether you have funds and what's the likelihood of closing. But since most buyers are one time buyers, they d
46:32 / 47:34
from transcript46:32 – 47:34
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