BroadStreet Partners
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Some will play “pretend and extend”, but others will sell to strategics or take the steep climb to an IPO. -
The Teachers’-backed broker consolidator is being marketed off ~$700mn of Ebitda.
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Challenges include integration, delevering, winning staff over and building a compelling equity story.
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A tougher environment for debt financing and a potential recession will reverse some of the remarkable tailwinds of recent years.
