Mike Esposito shares his journey from a 30-year career at Goldman Sachs to co-founding Franchise Equity Partners, highlighting their differentiated approach to private equity through franchising and multi-unit retail investing.
⏱️ Key Timestamps
00:00 – Introduction
00:30 – Career background and transition to PE
01:45 – Pitfalls of “me-too” PE strategies
03:13 – Leaving Goldman Sachs during COVID
04:41 – Advisory vs ownership mindset
05:36 – Why franchising & multi-unit retail
07:00 – Barriers limiting PE in franchising
08:26 – Unique LP structure with HPS
11:17 – First non-franchise deal (European car wash platform)
13:42 – Why Europe offered better value than the US
16:06 – Minority vs majority investing strategy
17:04 – “Minority, passive, permanent” model
19:28 – Importance of backing the right people
22:24 – Power of a focused investment strategy
24:27 – Using data science for investment insights
26:23 – Contact details
🔑 Key Takeaways
- Focused strategies outperform crowded PE trades
- Franchising offers a large, undercapitalised opportunity
- Minority investing unlocks access to restricted sectors
- Long-term alignment appeals to family-owned businesses
- Europe can offer stronger fundamentals vs overheated US markets
- Data and analytics are key to gaining an edge
Raw Selection partners with Private Equity firms and their portfolio companies to secure exceptional executive talent. We focus on de-risking executive recruitment through meticulous search and selection processes, ensuring top-tier performance and long-term success.
🔗 Connect with Alex Rawlings on LinkedIn https://www.linkedin.com/in/alexrawlings/
🌐 Visit Raw Selection www.raw-selection.com
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