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I just finished "The Private Equity Playbook". It came as a highly recommended book by a friend and I now have a bird's eye of the PE ballpark.
Enough to be inspired & motivated to put more time & focus towards the industry.
I highly recommend the book to anyone who's looking to get a lay of the PE land, the differences between VCs & buyout funds, and how it could benefit them (as an investor in the space, or an employee at PE-backed firms, or perhaps as a business owner who's considering selling to a PE-backed firm, and even a consultant serving the industry).
This is a perfect review of the PE world. Adam makes us discovering it through parallels to the world of sport, his own rich experiences which makes it fun to read! I enjoyed reading it, learned a lot and look forward the next upcoming book about Exit strategies! Well done Adam!
This book provides a rare glimpse into the life and operations of private equity firms and their portfolio companies (though more focused on the latter). The author outlines key principles in plain English and debunks many of the myths surrounding PE.
Very easy read with lots of useful information that can be applied to all work settings.
The author is a very experienced PE practitioner. In this book he provided a lot of practical tips working with private equity. As a typical fortune 500 middle manager, I would say this book gives me a lot of insights on what it's like to be working in the PE world. The pace, the game and the various roles people play are all thrilling! Highly recommended for anyone who wants to know what PE is like from practical sense
I purchased "The Private Equity Playbook" by Adam Coffey and, frankly, I couldn't put it down. As a former owner of a nationally recognized middle-market service company. I wish that I had this book a few years ago. The author states that his book is a primer on the private equity business, but I believe that it is much more--I've read other books on the subject, but for brevity, de-mystification and just plain enjoyment this one beats them all--by a country mile.
Coffey is a maverick. He sees himself as a blue -collar CEO/ He left home at 17. After a stint in the Army, he worked as an engineer and then changed to the business side , rising to middle-management with General Electric. Private equity recruiters came calling and he listened. For the last 20 years, Coffey has been President/CEO of three different national private equity backed companies. Each company has grown exponentially under his watch. And, he tells you how.
The author likens the experience to building a winning team. He introduces two players , "Josh" and "Rose" ( a mirror of his former self ). Josh is the CEO of a middle-market service company. He has built the company into a recognized leader in it's field, and is thinking about selling out. He knows little about private equity and wonders if this is a viable exit strategy.--Rose is a " Fortune 500" middle-market executive who gets calls from private equity recruiters looking for a CEO/COO in a private equity backed middle-market company. She is doing well now, but wonders whether she should make a career change
The heart of the book is Coffey's recounting of his own journey in the problems that he faced and decisions that he made. Among the many points that the book covers: private equities growth from 312 firms in 1990 to over 5300 firms today with over $3 trillion in assets under management--over 50% of middle-management companies to have a private equity partner in the next few years-- various type of funds today--the "playing field", the players and how they fit into the decision making for Josh and Rose--the rules of the game and the specific questions that Josh and Rose must ask themselves as well as the private equity firms--why an investment banker is needed--why the acronyms IRR,MOIC and DPI are so important as measurement guidelines--how partnering with a private equity firm is an accounting game changer--how EBIDTA can be fluffed up to accelerate growth--growth strategies through organic growth , price, product or service, rebranding and blue ocean search--equity creation for management through the ABC waterfall--why IRR is mandatory in the game--buy and build strategy with mergers and acquisitions--how to beat a recession-- how outside consultants could actually be worth the cost--why a private equity partner can create generational wealth for both Josh and Rose for years to come, " The gift that keeps on giving".
Everything in the book is tied to Coffey's personal experiences in putting together a winning team. This is a fascinating read, down-to-earth and hands-on. Highly recommended