Restructuring the Hold: Optimizing Private Equity and Portfolio Company Partnerships

ISBN-13: 9781119635185 / Angielski / Twarda / 2020 / 368 str.

Mark G. Habner

Spis treści

List of Figures xi Foreword xv Preface xxi About the Authors xxv Acknowledgments xxix Introduction 1 Core Audience 4 Organization of the Book 6 Chapter 1: Private Equity 9 The Asset Class 11 The Middle-Market 17 The Investment Cycle 22 The Motivation 24 Chapter 2: New Ownership 31 The Ideal Partnership 33 Anticipating Management Sentiment 36 Key Investment Period Roles 42 Operating Partner Involvement 49 Core Values 55 Chapter 3: Month 1: Consternation 59 Onboarding Together 62 Confirming Portco Leadership 69 Teaming Authentically 77 Overcoming Resistance 81 Chapter 4: Month 2: This Might Be Okay 87 Baselining the Investment Period 90 Reporting Monthly Financials 94 Starting with Momentum 97 Identifying Value Sources 101 Chapter 5: Month 3: Guarded Enthusiasm 113 Generating and Aggregating Ideas 116 Evaluating and Prioritizing Opportunities 122 Profiling and Planning Initiatives 127 Suspending Strategic Planning Formalities 137 Finalizing the Value Creation Plan 141 Chapter 6: Quarter 2: A Bit Overwhelmed 147 Ensuring Leadership Coverage 150 Organizing the Value Creation Team 159 Managing the Value Creation Program 162 Targeting, Tracking, and Triaging Value Creation 165 Chapter 7: Quarter 3: Gaining Momentum 173 Managing with Performance Indicators 176 Standardizing Operating Cadence 182 Incorporating the Board of Directors 189 Overcoming Bumps in the Road 195 Chapter 8: Quarter 4: Ringing the Bell 203 Confirming VCP Results 206 Rewarding Success 210 Planning Strategy Pragmatically 212 Integrating Plans and Budgets 216 Investment Period Outputs 227 Chapter 9: Year 2: Improving Infrastructure 229 Organizing Effectively 231 Operating Efficiently 238 Sourcing Strategically and Spending Economically 247 Financing Internally 256 Chapter 10: Year 3: Expanding Beyond 263 Optimizing Profitability 266 Pricing Intelligently 271 Pipelining Systematically 279 Integrating Pragmatically 286 Chapter 11: Year X: The Exit 297 Exit Timing 300 The Exit Process 302 Exit Preparation 305 Enjoying the Rewards 309 Chapter 12: Conclusion 313 References 317 Index 319

O autorze

THOMAS C. ANDERSON is a long-time Operating Partner, Chairman, and Board Director, previously with The Riverside Company, a global investment firm focused on the middle-market. He currently works with companies in active Board roles to accelerate growth and prepare for successful transactions. MARK G. HABNER is CEO of BeckWay Group, which he co-founded with Anderson as an operating company serving private equity and their portfolio companies, providing hands-on expertise to accelerate sustainable earnings growth.