Good morning, Hubsters. MK Flynn here with the Wire.
Value creation is the theme of the day. Many private equity firms have told us that this year’s deal downturn has turned their attention to getting the most out of their existing portfolio companies. They’ve deepened their operations benches and increased communications between deal teams and ops teams.
For insights on the trend, I turned to Jay Scanlan, global private equity lead at Accenture.
Underscoring the point that PE firms are beefing up operations expertise, Advent International announced a key hire today.
As the year winds down, we’re seeing more deals cross the finish line. I’ll share a couple of deal completions announced this morning.
And finally, I’ll give you a glimpse of some stories that are coming later in the week.
Greater expectations
PE Hub’s ongoing series of interviews with thought leaders on private equity dealmaking today features Jay Scanlan, global private equity lead at Accenture.
Subscribers to the premium version of the Wire may learn about the evolving relationship between deal teams and operations-focused teams, how value creation is affecting due diligence more and more and what advice Accenture gives clients.
For more PE Hub thought leader Q&As, see:
• NYSE’s Michael Harris optimistic about IPOs in 2024
• Blackstone CTO John Stecher: ‘Generative AI can enhance private equity dealmaking’
Experience matters
PE firms have been tapping executives with operating experience more and more.
To that end, earlier this morning, Advent International announced that Tricia Rothschild will join the Boston-based PE firm as an operating partner, Iris Dorbian reports.
To find out what Rothschild brings to Advent, upgrade your subscription.
Crossing the finish line
A couple of deal completions were announced this morning. We expect to see more as the year comes to a close and dealmakers are motivated to wrap things up before the new year.
Upgrade to discover what caught my eye today.
Coming up
Later in the week, we’ve got a couple of treats for our readers. Tomorrow, we’ll feature Iris’ conversation with Sterling Partners about the firm’s recent School of Rock exit. And on Wednesday, we’ll feature Rafael Canton’s interview with Garnett Station Partners about the firm’s regional restaurant chain strategy. It’ll whet your appetite for Thanksgiving.
PE Hube Europe’s Craig McGlashan is back from vacation, so he’ll write to you tomorrow. Chris Witkowsky is back from a break, and he’ll write the Wednesday Wire as usual. There will be no Wire on Thursday, due to the holiday. With the US team recovering from too much turkey, Craig will write the Wire on Friday with an abbreviated post-holiday newsletter.
I’ll see you a week from today. Before I sign off, let me say that I am thankful for all of you, Dear Readers!
I hope you have a happy Thanksgiving,
MK
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