Entrepreneurial Acquisitions: MBIs, MBOs and Add-ons

Friday 25 May 2012 - Fontainebleau

For the first time since its inception, INSEAD’s Global Entrepreneurship Forum will focus on the world of Entrepreneurial Acquisitions. To date, far less attention has been paid to this "other" form of entrepreneurship. Yet as the popularity of INSEAD's MBA electives on entrepreneurial acquisitions attest, it is a path that more and more MBA alumni are choosing either immediately after graduation or later in their careers. The success stories of our alumni demonstrate the attractiveness of this pursuit both as a form of individual expression and as a path to financial independence. Covering management buy-ins, management buy-outs and add-on acquisitions to entrepreneurial ventures, we will benefit from the experience and insights of our panelists and moderators to build a deeper understanding of the topic. 

The day will be organised as follows: 

Opening remarks will focus on INSEAD's vision for Entrepreneurship, the essence of entrepreneurial behaviour and the different ways in which it manifests itself. 

Reinold Geiger (MBA '76) will deliver the keynote address telling the story of how he acquired a small French company named L'Occitane and built it into a global brand. He will share his vision of entrepreneurship and why it was the path he chose.  

We will then turn our attention to the risks associated with Entrepreneurial Acquisitions, for managers and investors, and how they are measured and mitigated over time. One way of reducing risk may be the search fund model, an investment approach well-known in the US, but less known and less well understood elsewhere. In this panel session, we will explore the mechanisms at work. Next we will take a look at who invests in entrepreneurial acquisitions and why, closely examining the profiles of investors active in these asset classes.

Since we know the entrepreneurial path is not always an easy one, we will engage experienced entrepreneurs to discover their "lessons learned" so others can avoid making the same mistakes. We will then hear stories from younger entrepreneurs who are currently searching for businesses to buy, so we can better understand the challenges they face. 

To end the day, we will share with you the exciting developments in the area of Entrepreneurial Acquisitions at INSEAD that are taking this centre of excellence to new heights. The closing remarks will provide yet another view of the passion of pursuing entrepreneurial acquisitions and a summary of the key takeaways from the day's discussions.

Following the Forum, everyone will be invited to a cocktail reception in the Euro-Asia Centre, home of Entrepreneurship at INSEAD.

Please register now to reserve your place at the GEF

We look forward to welcoming you back on campus and having the chance to reconnect!

Timothy Bovard

Adjunct Professor of Entrepreneurship

The GEF is organized and sponsored by the:

Rudolf and Valeria Maag, INSEAD Centre for Entrepreneurship

www.insead.edu/ice