If you're working on a rollup, and especially if you've raised a vehicle to do so, beware of being forced into bad acquisitions.
Much like PE funds deploy for the sake of deploying, rollups sometimes do add-ons for the sake of doing add-ons. The pace & # of add-ons become a KPI among mgmt. and the board. The quality of those add-ons can be highly variable & bad.
Everyone agrees that underwriting discipline is paramount when you buy a platform. There's no reason this discipline shouldn't be equally rigorous for add-on acquisitions.
Good lck.
