David Novak, Co-President of CD&R, On Their Approach to PE and £7.1 Billion Morrisons Buyout
David Novak, a 25 year veteran of CD&R, offers a candid perspective on how PE operating models have evolved and the drivers of value creation, illustrated by the examples of investing in the likes of SIG and Morrisons.
He explains the public to private migration, shrinking stock market listings, the impact of technology on decision making for business owners and why family owned businesses decide to work with them.
He discusses investments in SIG plc, the recent purchase of Morrisons supermarkets in the UK, the industry expertise they have developed and some lessons learnt.
Also covered are the structural advantages PE can offer private business, and some reasons to be optimistic about the opportunities ahead.
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