Associate / Vice President, Credit Opportunities

Company:

Industrial Opportunity Partners, LLC (“IOP”) was founded in 2005 by a group of finance and operations executives who came together to build a private equity firm centered on a shared passion for the companies that are the backbone of the U.S. economy — middle-market manufacturing and distribution businesses. Currently investing out of its fourth fund, IOP uses a collaborative model for investing in and working with companies to create value for all constituencies — employees, communities, customers, suppliers and investors. For more information please visit www.iopfund.com.

Opportunity:

IOP is adding an Investment Team professional at the Associate or Vice President level, focused primarily on marketing, sourcing and executing credit opportunity transactions. The role works across IOP’s credit opportunity and buyouts transactional areas as deal flow dictates, gaining exposure to a wide range of industries and transaction structures.

The Credit Opportunities strategy is one element of IOP’s core approach. Though focused on distressed and special-situations transactions, target companies reflect IOP’s traditional criteria: undermanaged manufacturing and distribution businesses with defensible market positions and solid fundamentals. IOP is uniquely positioned to bring operational resources to constituents addressing challenged situations.

Responsibilities:

IOP is seeking an investment professional with strong analytical skills, developed interpersonal skills, and a demonstrated interest in industrial businesses and distressed M&A. A successful candidate will, among other things:

•   Assist in screening, sourcing and evaluating borrowers and credit facilities for potential entry, including capital structure, covenant and intercreditor analysis, recovery and waterfall modeling, and assessment of a path to a potential equity position

•   Review and underwrite new transactions — both credit opportunity and traditional buyout — with the firm’s investment professionals

•   Build and manage financial models and conduct business and industry diligence to underwrite opportunities; support debt financing for buyouts (lender outreach, diligence, underwriting)

•   Attend management presentations and lender meetings; coordinate with counsel, advisors, restructuring professionals, and operating consultants; engage existing lender groups; and draft IC approval documents

•   Participate in portfolio company management, attend board meetings, and track KPIs and performance throughout the ownership process

Qualifications:

•   3–6 years across some combination of special situations or distressed investing, restructuring advisory, leveraged finance, private credit, M&A investment banking, or private equity. Candidates pairing restructuring or special-situations experience with buy-side credit or private equity are especially well suited to this dual mandate

•   Working familiarity with capital structures and credit documentation (credit agreements, intercreditor and security documents) and the mechanics of out-of-court workouts and Chapter 11 processes

•   Excellent accounting and quantitative skills, including financial modeling, valuation, and recovery / waterfall analysis for both equity and credit investments

•   Exceptional work ethic and strong interpersonal and written / oral communication skills, with the ability to engage the IOP team, portfolio company management, lender groups, and external advisors; strong organization, initiative, and a collaborative mindset suited to a small team

•   High level of professionalism and attention to detail; proficiency in Microsoft Office; eligibility to work in the U.S. without sponsorship

Position Location: Evanston, Illinois (~10 miles north of Downtown Chicago)

Compensation Range: Compensation: Base salary range of $125,000-$200,000, commensurate with experience and level (Associate or Vice President). This position is also eligible for a discretionary annual performance bonus and standard benefits including, but not limited to, medical coverage.

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