Dry Powder: The Private Equity Podcast
The last time Greg Schooley, the leader of Bain’s Operational Value Creation team, joined us on Dry Powder, we talked about how margin expansion had become something of a lost art. Some investors, however, have managed to defy that trend. A small but growing cohort of tech investors are taking public companies private and dramatically improving profit margins.
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“If you look at who is really pursuing these take-privates in the past few years,” Greg explains, “this isn’t limited to just a handful of private equity funds—Thoma Bravo probably being the poster child. It’s Apollo, it’s Vista, it’s CD&R, it’s KKR, Francisco, H&F, Veritas, and others. So a pretty wide swath of private equity investors have been looking at these publicly traded companies as great investment opportunities.”
Today on Dry Powder, Greg and I will take a closer look at the take-private playbook.
The Private Equity Podcast
In our podcast series, Bain's Hugh MacArthur interviews leading experts on the trends and opportunities that will redefine the private equity industry.
First published in Juli 2024