German Buyouts Adopting a Buy and Build Strategy PDF Download
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Author: Nils Hoffmann
Publisher: Springer Science & Business Media
ISBN: 3834996343
Category : Business & Economics
Languages : en
Pages : 267
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Book Description
Within the frame of a case study and questionnaire-based research, Nils Hoffmann investigates the key characteristics of buy and build strategies affected by private equity investors in Germany between 1998 and 2003. The author analyzes which value drivers and management strategies financial sponsors use to generate the return targeted. Furthermore, the research presented provides evidence concerning key success factors of the most profitable buy and build strategies.
Author: Moritz Breuninger
Publisher: GRIN Verlag
ISBN: 3656551855
Category : Business & Economics
Languages : en
Pages : 64
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Book Description
Master's Thesis from the year 2013 in the subject Business economics - Business Management, Corporate Governance, grade: 7,5, Erasmus University Rotterdam (Strategic Management), language: English, abstract: Recent changes in the market for private equity have led investors to shift their attention away from market beta and towards generating alpha through the exploration of growth opportunities. PE firms increasingly use active ownership to implement these new growth plans. Buy and build strategies have emerged as a feasible and lucrative strategy of active ownership. The add-on acquisitions required when pursuing this strategy and the need to create value through synergistic effects necessitate post-acquisition integration efforts. Despite its relevance, researchers in the field of strategic management and finance have paid little attention to buy and build strategies. Moreover, they have yet to bridge the findings by scholars and practitioners on post-acquisition integration and active ownership. This paper seeks to fill this gap by answering the research question of how PE firms contribute to the integration process and how they handle task and affective conflicts and exercise management control with regard to the cooperation between the PE firm and the management of the portfolio company. Previous work has linked active ownership to capabilities and found that prior business experience is a strong predictor of active ownership, meaning a high level of contribution by the investment firm. This paper complements this work by analyzing active ownership of private equity firms in the context of post-acquisition integration in buy and build strategies and finds a direct link between capabilities and active ownership through four explanatory theory-building case studies. Birkinshaw et al. (2000)’s study on post-acquisition integration is used as a guiding concept in this paper. They distinguish between task integration, which is defined as the identification and realization of operational synergies, and human integration, which is defined as the creation of positive attitudes towards the integration and shared identity among employees. This paper creates a practical Framework for Integration Management on this notion and extends it by additional academic literature and relevant studies of consulting firms. A number of working propositions are derived from the literature and linked to the framework. Each proposition is then tested through within-case analysis and across-case comparison. Based on the evidence, three propositions are revised or extended whereas six propositions are supported. [...]
Author: Nils Hoffmann
Publisher: Springer Science & Business Media
ISBN: 3834996343
Category : Business & Economics
Languages : en
Pages : 267
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Book Description
Within the frame of a case study and questionnaire-based research, Nils Hoffmann investigates the key characteristics of buy and build strategies affected by private equity investors in Germany between 1998 and 2003. The author analyzes which value drivers and management strategies financial sponsors use to generate the return targeted. Furthermore, the research presented provides evidence concerning key success factors of the most profitable buy and build strategies.
Author: Rick Rickertsen
Publisher: AMACOM Div American Mgmt Assn
ISBN: 9780814425732
Category : Business & Economics
Languages : en
Pages : 408
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Book Description
Annotation. Successful management buyouts (MBOs) are the pinnacle of business success today and a great way to earn an ever-increasing stake in the American dream. Buyout provides managers and executives with the necessary tools and strategies for leading a company or division buyout. It explores the details of the entire buyout process and empowers managers to seize their destiny and take charge. Managers learn how to: -- Find a company to purchase -- Develop a business plan -- Negotiate with the seller -- Win the "ground war" of due diligence -- Find equity partners and negotiate your management deal with investors -- Run the company after the MBO. Buyout offers real life stories of people who actually pulled off out-of-this-world deals and became rich beyond their wildest expectations.
Author: Laurence Capron
Publisher: Harvard Business Press
ISBN: 1422143716
Category : Business & Economics
Languages : en
Pages : 258
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Book Description
How should you grow your organization? Its one of the most challenging questions an executive team faces and the wrong answer can break your firm. So where do you start? By asking the right questions, argue INSEADs Laurence Capron and coauthor Will Mitchell, of Duke Universitys Fuqua School of Business and the Rotman School of Management at the University of Toronto. Drawing on more than two decades of research and teaching, Capron and Mitchell have found that a firms aptitude for determining the best resource pathways for its growth has a defining impact on its success. Theyve come up with a helpful framework, reflecting practices of a variety of successful global organizations, to help you determine which path is best for yours.
Author: Claudia Zeisberger
Publisher: John Wiley & Sons
ISBN: 1119327970
Category : Business & Economics
Languages : en
Pages : 368
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Book Description
The definitive guide to private equity for investors and finance professionals Mastering Private Equity was written with a professional audience in mind and provides a valuable and unique reference for investors, finance professionals, students and business owners looking to engage with private equity firms or invest in private equity funds. From deal sourcing to exit, LBOs to responsible investing, operational value creation to risk management, the book systematically distils the essence of private equity into core concepts and explains in detail the dynamics of venture capital, growth equity and buyout transactions. With a foreword by Henry Kravis, Co-Chairman and Co-CEO of KKR, and special guest comments by senior PE professionals. This book combines insights from leading academics and practitioners and was carefully structured to offer: A clear and concise reference for the industry expert A step-by-step guide for students and casual observers of the industry A theoretical companion to the INSEAD case book Private Equity in Action: Case Studies from Developed and Emerging Markets Features guest comments by senior PE professionals from the firms listed below: Abraaj • Adams Street Partners • Apax Partners • Baring PE Asia • Bridgepoint • The Carlyle Group • Coller Capital • Debevoise & Plimpton LLP • FMO • Foundry Group • Freshfields Bruckhaus Deringer • General Atlantic • ILPA • Intermediate Capital Group • KKR Capstone • LPEQ • Maxeda • Navis Capital • Northleaf Capital • Oaktree Capital • Partners Group • Permira • Terra Firma
Author: Mike Wright
Publisher: Routledge
ISBN: 1351862537
Category : Business & Economics
Languages : en
Pages : 624
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Book Description
Management Buyouts (MBOs) first came to prominence in the US during the early 1980s, and have subsequently become a global phenomenon and a highly significant transaction within the corporate restructuring landscape Although much recent attention has focused on private equity (PE) backed buyouts, these are only a subset of the total MBO market. The Routledge Companion to Management Buyouts takes a much broader definition, reviewing the current state of research and theory and where further developments are likely to occur and incorporating PE and non-PE backed buyouts, as well as variations such as management buy-ins and management-employee buyouts. It goes beyond the purely financial perspective, exploring the many different aspects of management buyouts and incorporating related disciplines including strategy, organizational change, and HRM providing the first truly comprehensive authoritative resource on the topic. Expertly edited, and drawing on international scholarship, this unique volume will be an invaluable sourcebook on MBOs for researchers and advanced students as well as those interested in the broader areas of corporate restructuring and ownership change.
Author: Adam Coffey
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 0
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Book Description
New rules. New playbook. Nearly half of all mergers and acquisitions involve private equity, but the world of PE can confuse even lifelong business professionals. For years, the #1 bestselling book The Private Equity Playbook has helped countless entrepreneurs, leaders, and CEOs like you successfully navigate the PE playing field. But much has changed since the book was released at the start of 2019. Adam Coffey knows the rapidly evolving PE game isn't won with outdated tactics. In this revised and expanded edition, Coffey puts his unmatched experience as a CEO coach at your disposal, helping you start competing with confidence. The new information on working with consultants alone makes this edition a game changer. Featuring expanded sections, updated data, and refined strategies of added relevance to today's financial, global, and cultural realities, The Private Equity Playbook continues to prepare you to play and win for years to come.
Author: Felix Barber
Publisher: Bloomsbury Publishing
ISBN: 1472912047
Category : Business & Economics
Languages : en
Pages : 246
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Book Description
Current strategy thinking focuses on what to do, not how to motivate employees, suppliers and business partners to do it. Whether working with employees or with external suppliers, companies are increasingly stumbling with implementing strategy. But why is this happening? And how can we address it? Collaboration Strategy argues that motivating people and companies is fundamental to business success. In the activities that matter most in today's economy – design, development, marketing, sales, projects – it is hard to define just what you want done. Setting up business activities to get the results you want becomes a strategic challenge. In industries from pharmaceuticals to fashion, software to stock exchanges, new ways of working with partners that break down traditional company boundaries and establish new roles and relationships have enabled businesses to grow rapidly and achieve superior profits. At the heart of this book, Felix Barber and Michael Goold have combined their considerable expertise to present a complete and original 'collaboration framework' based on their findings over a seven year period in which they interviewed over 200 businesses. The framework explains how to set up to get the results you want for a range of different activities and industries. They present the 10 requirements needed for profitable collaboration, and use real-life scenarios to apply their framework and analysis, offering a menu of tactics to address the most common problems in setting up collaboration with partners. Essentially, you must design a basis for working together, or 'collaboration,' with your employees and suppliers that will get them to do what you want.
Author: Sabin Piso
Publisher: Lulu.com
ISBN: 1312115378
Category : Business & Economics
Languages : en
Pages : 122
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Book Description
MBO - Management buyout guide Helping management teams understand the management buyout (MBO) process.
Author: Walker Deibel
Publisher:
ISBN: 9781544535661
Category : Business & Economics
Languages : en
Pages : 0
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Book Description
Entrepreneurs have a problem: startups. Almost all startups either fail or never truly reach a sustainable size. Despite the popularity of entrepreneurship, we haven't engineered a better way to start...until now. What if you could skip the startup phase and generate profitable revenue on day one? In BUY THEN BUILD, acquisition entrepreneur Walker Deibel shows you how to begin with a sustainable, profitable company and grow from there. You'll learn how to: Buy an existing company rather than starting from scratch Use ownership as a path to financial independence Spend a fraction of the time raising capital Find great brokers, generate your own "deal flow," and see new listings early Uncover the best opportunities and biggest risks of any company Navigate the acquisition process Become a successful acquisition entrepreneur And more BUY THEN BUILD is your guide to outsmart the startup game, live the entrepreneurial lifestyle, and reap the financial rewards of ownership now.
