The Platform Paradox: Why Most PE Firms Stumble on Integration, and How the Best Ones Don’t
When a private equity firm deploys capital into a fragmented market, the math looks irresistible. Buy five regional players, merge the operations, watch the platform emerge. Scale drives multiples. Multiples drive returns. Except it rarely works that way. 70-75% of M&A deals underperform their targets, and 57% cite infrastructure misalignment as the core blocker. That […]
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