p strong Investment Associate – Special Situations Turnarounds /strong /p p br /p p strong Location: /strong London, UK /p p strong Position Type: /strong Full-Time /p p br /p p strong Role Overview /strong /p p br /p p Mutares is a leading global private equity investor specializing in strong special situations, corporate carve-outs, and operational turnarounds /strong . We target European mid-market businesses (revenues €100m–€750m) that face operational or financial challenges, transforming non-core corporate assets into profitable, sustainable stand-alone businesses. /p p br /p p As an strong Investment Associate /strong in our London office, you will sit at the intersection of deal execution, complex transaction structuring, and intense operational transformation. You will play a critical hands-on role across the entire Mutares value creation lifecycle: strong Acquisition, Realignment, Optimization, and Harvesting /strong . /p p br /p p strong Key Responsibilities /strong /p p br /p p strong 1. Special Situations M A Carve-Out Execution /strong /p p br /p ul li strong Transaction Structuring: /strong Evaluate complex, non-standard deal structures, including corporate carve-outs, negative enterprise value deals, distress/restructuring situations, and debt-funded buy-and-build additions. /li li strong Financial Modeling: /strong Build dynamic financial, LBO, and liquidity/cash flow projection models from scratch. Model turnaround scenarios, debt restructurings, 13-week cash forecasts, and return profiles targeted at high ROIC thresholds. /li li strong Commercial Operational Due Diligence: /strong Uncover hidden value drivers and identify immediate cost-out, working capital optimization, and operational efficiency potential during brief DD windows. /li li strong Investment Memos: /strong Prepare rigorous Investment Committee (IC) presentations advocating for complex turnaround investments. /li /ul p br /p p strong 2. Active Portfolio Transformation Realignment /strong /p p br /p ul li strong Day-1 Standalone Setup: /strong Assist internal consulting teams and senior leadership in establishing standalone infrastructure (IT, HR, Finance, Supply Chain) for carve-outs separated from former corporate parents. /li li strong Turnaround Management: /strong Work alongside portfolio executive teams to execute immediate 100-day stabilization plans, cost-restructuring projects, and margin expansion strategies. /li li strong Inorganic Growth: /strong Source and execute strategic bolt-on acquisitions to accelerate the scale and profitability of existing platform investments. /li /ul p br /p p strong 3. Sourcing Industry Coverage /strong /p p br /p ul li Map corporate sellers, blue-chip conglomerates, and advisory networks (restructuring boutiques, corporate finance, insolvency practitioners) to source non-core carve-out opportunities. /li li Analyze targets across Mutares primary operational segments: em Automotive Mobility, Engineering Technology, Goods Services, and Infrastructure Special Industry /em . /li /ul p br /p p strong Candidate Profile /strong /p p br /p p strong Required Experience Background /strong /p p br /p ul li strong Experience: /strong 2–4 years of experience within: /li li Restructuring, Turnaround, or Special Situations M A at an Investment Bank or Advisory Boutique. /li li Big 4 Transaction Services (Special Situations, Carve-out / Restructuring, or Operational Deal Advisory). /li li Strategy Consulting with heavy emphasis on commercial/operational due diligence and corporate turnarounds. /li li Special Situations PE / Distress / Value PE Fund (as an Analyst/Associate). /li li strong Education: /strong Top-tier academic credentials in Finance, Economics, Business, Engineering, or STEM. /li /ul p br /p p strong Technical Functional Skills /strong /p p br /p ul li strong Carve-out Turnaround Acumen: /strong Deep understanding of corporate carve-out mechanics, TSA (Transition Services Agreement) dependencies, and working capital dynamics in loss-making or low-yield assets. /li li strong Advanced Modeling: /strong Master-level Excel skills with speed and precision in modeling distressed debt, cash burn, working capital, and restructuring costs. /li li strong Crisis Change Management Focus: /strong Strong pragmatic drive—comfortable working with incomplete data, fast-paced execution timelines, and operational ambiguity. /li /ul p br /p p strong Mindset Soft Skills /strong /p p br /p ul li strong Entrepreneurial Mindset: /strong Hands-on equity entrepreneur attitude—willing to roll up sleeves and engage directly in portfolio turnaround activities. /li li strong Resilience Candor: /strong Excellent interpersonal and negotiation skills to deal directly with distressed sellers, union representatives, and portfolio management teams. /li /ul p /p
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