Entrepreneur in Residence

At The Byrdon Group, we back a small number of outstanding mid-career entrepreneurs to acquire and operate a business with private-equity caliber support, resources and capital. The Current State of Search: Search is becoming more competitive as private equity (PE) increasingly moves down-market. Lack of committed capital, ad-hoc support and inefficient diligence processes are all significant challenges. We leverage our backgrounds in large cap PE and PE-backed executive roles to “arm the rebels”: providing the best of private equity sourcing, diligence and operating playbooks to our searchers. Brydon Entrepreneur in Residence (EIR) Program: Brydon selects 5 entrepreneurs per year as Brydon EIRs We invest 90% of the equity to support a two-year search and 90% of the equity at the time of a transaction. We encourage you to raise the remaining 10% of capital from advisors that can be helpful in your search as river guides and potential board members (e.g. former bosses), however we can provide the remaining 10% from our limited partners if required. Working with our EIRs, we have the flexibility to invest in businesses anywhere from $5 – 50 million in enterprise value, which drastically increases the number of opportunities our EIRs can pursue. Brydon can also much more easily support follow-on acquisitions, tuck-ins and roll-up strategies with committed capital than is possible in traditional search. Requirements We welcome applicants from all backgrounds, but we generally look to partner with EIRs who have more work experience, typically 2-7 years out of business school or equivalent. We are strong advocates of thesis-driven searches, where searchers focus heavily on sub-industries and niches. Third-party research & our own experience has shown that these result in better outcomes for searchers. For example: --You worked in banking or private equity on a PE-backed roll-up and see an opportunity to do the same with dedicated capital and support --You are a McKinsey Engagement Manager with extensive work and deep understanding of the growth levers in a sub-industry. Now you want to implement that knowledge by building equity value in a business you own and operate --You’ve built relationships and qualifications in a sub-industry and believe there’s an opportunity to buy and build. For example, a former Navy submariner who can leverage your background to acquire a small nuclear services provider --You worked at a successful tech startup in a vertical and know the space well. You see an opportunity to buy small mom and pop players in the space Do you have a thesis-based acquisition approach? Know an industry or have an angle on an interesting niche? We would love to discuss it Don’t have an industry thesis? We have several industries where we have deep relationships and experience: B2B software and SaaS, technical services, regulatory & government services, among others. We’re happy to leverage our relationships and expertise to help you build out an area of focus for your search. Benefits Better Economics: Salary and Equity We fund our searchers at salary levels commensurate with their experience, between $150,###-###-#### ,000 per year (higher than traditional search). Searchers earn up to 25% of the equity in their deal (or 30% for partnered searchers), based on the standard vesting schedules (1/3 upon acquisition, 1/3 time-based vesting and 1/3 based on performance hurdles). Holistic Support: We know how mentally demanding a search can be; we provide a $5,000 stipend for all our EIRs to spend on physical or mental health during their search (e.g. to buy themselves a Peloton, Tonal, gym membership, yoga classes, etc.) Mix of In-Person & Remote The EIR program kicks off with 10 days of Brydon-funded cohort training at a Caribbean resort, followed by quarterly in-person events throughout the US Otherwise, we strongly encourage EIRs to base their search where they want to live and focus their search efforts. You’re not alone: in addition to your cohort, we pay for your partner (or anyone else you would like!) to join the last two days of your initial cohort training in the Caribbean to learn more about search and meet the rest of your cohort Better Support: Private Equity-Caliber Sourcing, Diligence and Operating Resources We have supported over 70 searchers and many are frustrated by having to “re-create the wheel” when it comes to sourcing, diligence, valuation, structuring and operating best practices. We bring playbooks and best practices from large cap private equity and work hand-in-hand with our searchers to apply them to your small business search. From day one, searchers get access to a full sourcing engine and support: a dedicated CRM and outreach software, training from experts in sourcing tactics / cadences/ processes, proprietary tools and integrated database support. Plus access to industry databases, introductions to brokers, bankers, CEOs and river guides, and full due diligence and valuation support. Application Process Please submit your application by June 15th, 2022. -Selected individuals are asked to take our selected cognitive and personality assessments. -Final round interviews with managing partners including a case presentation. -Offers made with the cohort start date in late August / early September. Any questions? Please email redacted Apply at https://apply.workable.com/the-brydon-group/j/A74DEA885D/