Date: March 5, 2008 1:35 PM to 2:25 PM Panel Discussion
Rocky debt markets and less availability of debt capital have forced private equity firms to re-write their underwriting assumptions. This panel discusses the current state of the leveraged buy-out market, and how growth-oriented opportunities are being replaced by turnaround and "fix-up" situations.
Panel: The State of the Leveraged Buy-out Market: Shifting to Fix-up Situations
Panelists: John M. Collard, CTP, Chairman, Strategic Management Partners, Inc. (Past Chairman, Turnaround Management Association) Charles F. Riceman, Managing Director, Golub Capital Ronald A. Kahn, Managing Director, Lincoln Partners Conner Searcy, Principal, Insight Equity Holdings Daniel Collin, Partner, Monomoy Capital Partners
Mr. Collard said “private equity investors realize real value-added when they bring in turnaround professionals either to run a company or advise them on investing in underperforming distressed troubled companies in which they want to invest. These professionals bring a unique leadership style to focus on the immediacy of changes required. They can determine what is wrong, implement solutions, and find permanent management teams. When a company is in trouble a different transferable set of leadership skills is required to set the company back on a profitable path.” “Focusing on exit strategies from the start is key to maximizing returns on investment. You must build enterprises that future buyers want to invest in.”
“More private equity and hedge fund investors are seeking the help of turnaround experts, and many are adding this talent to their senior management roles.” Regardless of who employs the turnaround manager, their unique expertise is required to be successful in this market.
