Roll-Up and Serial Acquirer Investing

Styles

Companies that compound by buying small businesses repeatedly. The good modern work is broker research and blog writing on Constellation Software and the Nordic acquirers rather than books.

8 books

Start here

  1. The OutsidersWilliam N. Thorndike, 2012
  2. Lessons from the TitansScott Davis, Carter Copeland, Rob Wertheimer, 2020
  3. The Synergy TrapMark L. Sirower, 1997

Books 8

The Outsiders
T1 The Outsiders
William N. Thorndike · 2012 · Teledyne and Capital Cities as disciplined serial acquirers.
Open Library
Andrew WilkinsonDan LoebFrancois RochonMohnish PabraiRational Capital Investment FundWally WeitzWarren BuffettAlfred LinBrian ArmstrongCharlie MungerMichael MauboussinPatrick O'ShaughnessyRyan Hoover
The Making of a Blockbuster
T3 The Making of a Blockbuster
Gail DeGeorge · 1995 · Wayne Huizenga rolling up waste hauling, video rental and car dealerships.
Open Library
Mohnish Pabrai
The Synergy Trap
T3 The Synergy Trap
Mark L. Sirower · 1997 · Why acquisition premiums usually destroy value; the discipline test.
Open Library
Mastering the Merger
T3 Mastering the Merger
David Harding, Sam Rovit · 2004 · Bain's evidence that frequent small deals beat occasional large ones.
Open Library
Deals from Hell
T3 Deals from Hell
Robert F. Bruner · 2005 · The failure cases, studied for what distinguishes them.
Open Library
HBR Guide to Buying a Small Business
T3 HBR Guide to Buying a Small Business
Richard S. Ruback, Royce Yudkoff · 2017 · The search-fund method: sourcing, diligence and price on small acquisitions.
Open Library
Lessons from the Titans
T3 Lessons from the Titans
Scott Davis, Carter Copeland, Rob Wertheimer · 2020 · Danaher and Roper analysed by the analysts who covered them.
Open Library
Patrick O'Shaughnessy
Buy Then Build
T4 Buy Then Build
Walker Deibel · 2018 · Acquisition rather than start-up, argued from the buyer's side.
Open Library