Career Opportunity: Private Equity Associates in Cleveland, OH

Posted by Steve Flynn on 9/12/16 8:01 AM

This position has been filled.
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Our client is looking for Associates to join their team in Cleveland, OH for 2016 and 2017. Our client is a private equity firm that partners with entrepreneurs and management teams investing in and growing lower middle-market companies. Our client manages over $800 million in committed capital across its second and third institutional funds, and its principals have been investing together for more than two decades.  Our client seeks to invest in lower middle-market niche manufacturing, business services, distribution and consumer companies in industry sectors where we have considerable investment experience and can leverage prior successes.  Our client has a strong track record of investing in and growing businesses in our regional markets having completed over 100 investments with a total transaction value of more than $3 billion. Our client’s professionals draw on a wide range of prior experiences in their work. The team includes alumni from Citicorp Venture Capital, Merrill Lynch, Salomon Smith Barney, Lehman Brothers, The Boston Consulting Group, Société Générale, Harris Williams and Key Banc Capital Markets. If you are interested in applying, please visit job #222 on our careers website.

Investment Preference:

  • Privately held companies, typically with established market positions and attractive growth prospects
  • Valuations between $30 and $250 million
  • Equity capital needs of $10 to $50 million
  • Majority ownership positions.

Investment Experience:

  • Recapitalizations.  Owners sell our client majority ownership position and retain a significant interest to participate in further gains in the business and defer capital gains tax.
  • Management buyouts.  Management partners with our client to purchase company from existing shareholders.
  • Industry consolidations.  Our client provides equity capital to purchase a platform company and provides additional equity to fund acquisition/consolidation strategy.

Unique Attributes of Our Client:

  • National presence with offices in targeted geographic markets (Cleveland, Charlotte, Seattle)
  • Shanghai, China office offers perspective on overseas demand dynamics and supply sources for our client’s portfolio companies


  • Fund III ($425 million) was closed in 2014, with six platform investments.
  • Fund II ($405 million) was closed in 2007, a top-quartile fund. 
  • Our client completed fundraising of its first outside partnership in 2001, with total commitments of $415 million.

Position Summary:

  • Assist senior professionals in all phases of private equity investment and portfolio management activities


  • Evaluate investment opportunities
  • Strategic assessment including:  market size and growth, industry competitive intensity, nature of customer relationships, strength of management, competitive advantage
  • Modeling financial returns:  develop financial projections, model returns with different financial structures and levels of company performance
  • Conduct due diligence
  • Play significant role in fundamental business due diligence
  • Manage outside service providers for accounting, legal, environmental, insurance, benefits, and market research due diligence
  • Assist in securing financing
  • Market transactions to potential lenders
  • Educate lenders regarding business fundamentals
  • Assist in negotiation of terms and conditions
  • Develop information memoranda for internal and external use
  • Assist senior investment professionals in negotiating transaction documents
  • Participate in portfolio company management
  • Monitor performance, determine key drivers of variance from projections
  • Work with management teams and boards of directors in developing and executing major strategic or financial initiatives (e.g., acquisitions, refinancings)
  • Identify and assess macro industry trends that could impact company performance
  • Assist in development of additional investment targets for our client (e.g., complete analysis of industries that may warrant focused deal creation efforts)


  • Competitive private equity industry compensation (salary and bonus)

Preferred Backgound of Candidates:

  • Two-three years of experience in investment banking
  • Experience with financial statement analysis, modeling, accounting principles
  • Ability to quickly assess positive and negative attributes of potential investments
  • Experience in mergers and acquisitions and leveraged finance beneficial
  • Candidate must possess excellent oral and written communication skills

Associate Program:

  • Start date is immediate for one opening. For the second opening, the successful candidate can start in 2016 or the summer of 2017. Expectation is that associates will join the firm for two to three years and then attend business school or seek other opportunities (as applicable).

Preferred Degrees:

  • Bachelor of Science
  • Bachelor of Business Administration
  • Master of Business Administration

Preferred Certifications:

  • Not Applicable
Preferred Work Status:
  • U.S. Citizen
  • U.S. Permanent Resident (Green Card Holder)
Willingness to Travel:
  • Yes
Carried Interest:
  • No 
Stock Options:
  • Yes

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