Investment Associate (Circular Investments / Private Equity)

Job description

Who you are

To be successful in this role, our ideal candidate comes with a few elements as listed below.

Essential:
• Bachelor’s degree from a reputable university in Finance, Business, Engineering, Econometrics, or similar discipline.
• Two to four years of work experience in private equity, investment banking, M&A / corporate finance, or strategy consulting. The candidate is a top performer having received excellent reviews.
• Self-starting, with the capacity to work independently and take responsibility, while simultaneously able to perform as a team-player.
• Persuasive communication skills, both written and verbal.
• Energized by contributing to the overall success of the team through collaboration and contribution of knowledge and expertise.
• Highly driven and ambitious individual with a sense of simplicity, entrepreneurship, and humbleness.
• Intrinsic interest in investing, sustainability and driving growth within companies.
• Fluent in English (additional languages can be an advantage).

Desirable:
• Additional MSc in a related discipline, MBA, or CFA highly desirable.
• Experience working in an international, cross-cultural environment.
• Sector background covering plastics, mattresses, recycling, textiles, food, waste management, chemicals, or related technologies.
• Knowledge of and/or experience with sustainability practices and the circular economy.
• Able to work with information platforms such as FactSet, CapitalIQ, Bloomberg and Pitchbook.

And, of course, you share and live the IKEA culture and values!

Your responsibilities

As part of IKEA’s “People & Planet Positive strategy”, Ingka aims to transform into a 100% circular business by 2030. By investing in recycling- and waste technology companies, the Circular Investments portfolio and strategy is a key enabler for this transition whilst delivering sustainable financial returns.

As of today, the Circular Investments portfolio consists of five companies. We execute a strong mandate, with a dedicated pool of capital, investing in businesses that fit our investment criteria and can help us tackle embedded economic inefficiencies and reduce our carbon footprint.

Investment Criteria:
• Significant minority up to full ownership in sustainable (technology, recycling) companies with an enterprise value of up to €750m.
• Equity tickets of minimum €10m.
• Solid cashflow (potential).
• Experienced and entrepreneurial management team.
• Significant opportunity for buy & build and / or organic growth.
• Cultural fit with the values and beliefs of Inga Group.
• Operating in geographies where Ingka Group has retail operations – currently 32 countries in Europe, North America, and Asia-Pacific.

Our investments focus on long-term value creation, without forced exits. We have the financial resources and time to implement changes and improve companies to achieve sustainable growth.

To support our investment mandate and significant deal flow, we are looking to recruit an investment associate to our five-person, diverse and energetic team. We consider this role as a steppingstone in the team, with ample opportunity for individual career growth.

You will support the investment managers and business development manager in their day-to-day responsibilities and provide analysis and input to the management teams of portfolio companies when needed. We expect you will contribute to two to four new acquisitions per year, being involved in the full cycle from sourcing to closing. Furthermore, you will be actively involved in the oversight and management of our portfolio, including exploring integration of our investees into the wider IKEA ecosystem.

Deal sourcing
• Research and develop sector expertise on the circular economy (market analysis, competition, market trends, technologies).
• Support deal flow origination by building and maintaining internal and external networks and partnerships with relevant stakeholders.
• Use and develop relevant research / analysis tools, techniques, and methods.

Deal execution:
• Analyze, select, and prioritize investment opportunities.
• Evaluation of individual investment opportunities (e.g., financial modelling, valuation, structuring).
• Support due diligence and documentation (financial, legal, tax and operational).
• Support deal negotiations (including SPA and SHA negotiations), arrangement of (bank) or intercompany financing.
• Assist in writing investment memoranda and documentation for internal approval processes.

Portfolio management & development:
• Portfolio management (e.g., financial reporting, KPI setting, strategy development, performance improvement projects, buy-and-build activities).
• Collect and analyze data that support business cases for international expansion and further integrating of investee companies into the IKEA ecosystem.
• Support risk assessments at individual investment and portfolio level.
• Preparation and execution of exits .

Our team within Ikea

Ingka Investments is one of three core businesses of Ingka Group, the largest IKEA franchisee, operating 392 IKEA stores in 32 countries. These IKEA stores welcomed 657 million visitors during FY21. We invest with impact, generating lasting financial returns while demonstrating positive impact for customers and the environment. Ingka Investments invests for the generations to come, creating a better everyday life for the many.

Total assets under management at Ingka Investments are over €20bn across six investment strategies. Within Circular Investments, we originate and execute private equity transactions across the globe. Our team is based out of Leiden (a 30-minute commute from Amsterdam).

Questions and support? Let's connect!

The position is based in Leiden and will report to Lukas Visser, Circularity Investments Manager. If you have questions about the role, connect with Lukas on lukas.visser@ingka.com .

Interested?

Your application, written in English and consisting of a covering letter and CV, should be registered on-line. Please note online assessments, as well as a background check will be part of the recruitment process.

During the summer months many people will be on holiday for a few weeks. At IKEA we are no different. We believe in a healthy work-life balance and encourage our co-workers to take time to relax, recharge, and unwind. Because of this it might take a bit longer for us to get back to you. We will start screening applications during the second week of August and will get back to you as soon as possible once we have given our full attention to all who have applied. We highly appreciate a motivation letter!

We look forward to learning more about you, at the latest by 7th of August 2022!