{
  "docId": "019de073-71f8-7553-b174-9960dd207538",
  "docSlug": "a768536e17853f71ba05e8b401ae31f0",
  "documentTitle": "Advantage Solutions | Investor Presentation Deck | 26 slides",
  "authorId": "advantage-solutions",
  "authorName": "Advantage Solutions",
  "documentKindSlug": "pitchdeck",
  "documentKindLabel": "Pitch deck",
  "sourceTypeSlug": "investor_relations",
  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2022-09-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.7777778,
  "pageNumber": 12,
  "pageCount": 26,
  "prevPage": 11,
  "nextPage": 13,
  "slideType": "traction",
  "function": "show_traction",
  "density": "overcrowded",
  "nDataPoints": 12,
  "notes": "The slide uses a 'do's and don'ts' framework for M&A strategy.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de073-71f8-7553-b174-9960dd207538/12",
  "deckHref": "/decks/019de073-71f8-7553-b174-9960dd207538",
  "deckJsonHref": "/decks/019de073-71f8-7553-b174-9960dd207538.json",
  "deckAnchorHref": "/decks/019de073-71f8-7553-b174-9960dd207538#slide-12",
  "components": [
    {
      "bbox": {
        "h": 0.07,
        "w": 0.45,
        "x": 0.03,
        "y": 0.85
      },
      "kind": "callout",
      "text": "Recent M&A transactions completed at mid-single-digit EBITDA multiples",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "dd2805be-8330-4725-85b9-55db5fcde757",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.45,
        "x": 0.52,
        "y": 0.23
      },
      "kind": "chart",
      "text": "Number of Acquisitions Per Year",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7378d52f-6126-48eb-9803-5ee669218562",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.45,
        "x": 0.03,
        "y": 0.62
      },
      "kind": "list",
      "text": "...and in all of the above cases where we believe there will be attractive returns on capital, we will not... Buy businesses just to add revenues and EBITDA, Acquire businesses outside of our circle of competency without a margin of safety, Ignore the macro environment",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "241f1460-07ee-411a-90ce-7197daec25ba",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.35,
        "w": 0.45,
        "x": 0.03,
        "y": 0.24
      },
      "kind": "list",
      "text": "Invest where there are unmet client needs and there are... Industry tailwinds, Opportunities to fill capability gaps, Needs for geographic expansion, Opportunities to widen our lead, High degrees of confidence in the achievability of synergies, Opportunities to apply core competencies in logical adjacencies",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "64c51ac0-225e-42be-8ec9-d5196b8da0ef",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.35,
        "w": 0.45,
        "x": 0.52,
        "y": 0.57
      },
      "kind": "table",
      "text": "Overview of Select Recent Acquisitions",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "903441f5-e379-4dc5-9bf5-080ad452d723",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.78,
        "x": 0.03,
        "y": 0.13
      },
      "kind": "title",
      "text": "Disciplined approach to M&A delivers consistent and attractive returns",
      "attrs": null,
      "subkind": "action-title",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6264836b-bb30-499b-bbd1-845e7a311816",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.94,
        "x": 0.03,
        "y": 0.07
      },
      "kind": "title",
      "text": "STRATEGIC AND FINANCIALLY ATTRACTIVE ACQUISITION PROGRAM",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c09f1811-091c-4bc2-9c98-ed92a48b2b2f",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "2x2 matrix",
      "slug": "matrix-2x2",
      "agent": null,
      "layer": "slide",
      "matchId": "a206cef1-d9bd-4a19-a7f0-6a89528514d0",
      "evidence": "Invest where there are unmet client needs and there are... Industry tailwinds, Opportunities to fill capability gaps, Needs for geographic expansion, Opportunities to widen our lead, High degrees of confidence",
      "confidence": 0.5
    },
    {
      "name": "Thesis archetype",
      "slug": "thesis-archetype",
      "agent": null,
      "layer": "slide",
      "matchId": "bab987d9-e71e-4324-9db9-044161db2b9a",
      "evidence": "Disciplined approach to M&A delivers consistent and attractive returns",
      "confidence": 0.8
    }
  ],
  "frameworks": [
    {
      "name": "investment-thesis",
      "slug": null,
      "matchId": "64e92e6d-4b05-46ef-bc9b-9986cb0910e4",
      "evidence": "The slide outlines the criteria for M&A investments and the rationale for the strategy.",
      "confidence": 0.8
    }
  ],
  "arcBeats": [
    {
      "to": 15,
      "from": 9,
      "beatId": "e3e83e67-4f5e-4469-9202-47dd3c12451f",
      "arcName": "The Sequoia Pitch",
      "arcSlug": "sequoia-pitch",
      "beatName": "Traction",
      "beatSlug": null,
      "evidence": "Long-term clients drive recurring revenue streams, 2021 trends rebounded nicely, 2022 Q2 results in line with expectations",
      "position": 3,
      "confidence": 0.8,
      "parentBeatName": null,
      "parentBeatSlug": null
    }
  ],
  "loops": [
    {
      "to": 12,
      "from": 12,
      "name": "Quick Win Big Bet",
      "slug": "47-quick-win-big-bet",
      "bestFor": "Transformation planning, 100-day plans, resource allocation",
      "matchId": "4f2a1e0b-5da6-4c12-921f-c6381a10d2fa",
      "evidence": "Strategic and Financially Attractive Acquisition Program",
      "position": 1,
      "objective": "What are the strategic and financially attractive acquisition opportunities?",
      "structure": "The Full List -> Quick Wins (Low effort, High impact) -> Big Bets (High effort, High impact) -> Sequenced Roadmap",
      "confidence": 0.6,
      "description": "Separate initiatives into immediate wins and longer-term strategic bets"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}