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Deals (w/e 7/10/26)
Why Buy-and-Build Deals Fail: An Operator's Guide to Add-On Integration (2026)
The buy-and-build deck always works. A platform at 6x, three add-ons at 4.5x, blend the multiple down, grow the combined entity, exit the whole thing at 9x or 10x. On paper it is the most reliable value-creation story in the mid-market, which is why
LPs do not need more transparency theatre. They need one honest conversation.
Private equity secrecy does not protect excellence. It protects bad behavior.
PE does not have a talent shortage. It has a thinking shortage.
Most CEOs aren’t lying when they say they’re data-driven.
You didn’t buy a roofing company.
If I were building a sourcing engine in 2026, I would start with data.
The team that sold the dream should not mark the homework.
What Is a Portfolio Operations Group? How PE Firms Build In-House Value Creation Teams
A portfolio operations group (also called a portfolio operations team, value creation team, or portfolio resources group) is the in-house team a private equity firm uses to improve the operating performance of the companies it owns, as opposed to sourcing and structuring the deals. The deal team buys the
Stewardship vs Transformation: The Two Operating Philosophies in Private Equity
Ask two private equity investors what happens after the wire hits and you will get two different answers. One buys a company to keep it: hold it indefinitely, keep the people, take the cash flows, and let compounding do the work. The other buys a company to change it: install
The Operator Supply Gap: Private Equity Bought the Operations Thesis. It Hasn't Hired the Operators to Deliver It.
Every private equity deck in 2026 says the same thing. Returns will come from operations, not leverage. The financial-engineering era is over, the operating era has begun, and the numbers now back the slogan: in S&P Global Market Intelligence's 2026 Private Equity Survey, 71% of