Now several weeks into Ellery Partners’ spring analyst internship, I have learned a great deal about a wide-range of private equity topics. I have learned how to properly source potential acquisitions, draft creative outreach emails to business owners, identify qualities of attractive acquisitions, financial modeling techniques and more.
Throughout multiple weekly meetings, I collaborate with the partners and interns on best practices when performing our day-to-day tasks. Coming from different backgrounds and experiences, my fellow interns and I have been able to capitalize on each others strengths and weaknesses and incorporate new strategies in performing our day-to-day tasks. For example, a primary role of an Ellery intern is to source potential acquisition targets and upload relevant information into the CRM system. We each had used our own sourcing techniques to arrive at a list of quality targets. I tended to use financial data websites, such as Capital IQ and FactSet, while others found websites like BBB and even Google Maps effective. When it became harder to source companies with our own technqiues, we taught each other how to properly use the other sourcing techniques in order to increase our sourcing numbers.
Another aspect of the internship includes weekly financial modeling training which has been incredibly helpful. Not only do we learn how to build integrated DCF and LBO models, but the partners explain the HOA Management industry-specific valuation model, further helping me understand the financial and operational dynamics of the industry. The partners push us to think independently, but also work collaboratively to produce quality work. In addition, we are encouraged to attend management calls which further helps us understand how the industry operates and how to think like a business owner and about their potential succession plans.
While this internship is serious and challenging, Jalen and Orlando are very nice, down-to-each people who encourage a fun work atmosphere. For example, we start each meeting getting to know each other better through icebreakers. I enjoy getting to know finance students from other universities, and icebreakers are a great opportunity to make work more enjoyable. Overall, the Ellery spring analyst internship has been very rewarding and insightful. I enjoy the work and the people at Ellery and know these people will be great friends and connections down the road.