Location:

The Woodlands, Texas (in office)

Reports To:

Director Function:

Investments —

Deal Team and Asset Management Level:

Two to five years of experience; supervises the Analyst Company Overview HD Management is a private investment and administrative services platform based in The Woodlands, Texas. The firm and its affiliated entities invest across real estate, operating businesses, and public and private securities, and provide accounting, treasury management, and financial reporting support to the entities within the platform. HD Management invests its own capital: the firm sources its own transactions, underwrites them internally, and owns the resulting assets and businesses over a long horizon rather than a fixed fund life. The team values integrity, analytical rigor, and discretion. Position Summary The Associate owns transaction workstreams end to end. The role carries a live deal from thesis through closing and then into ownership, and is accountable for the integrity of the underwriting that supports each investment decision. The seat is closely analogous to a private equity or investment banking associate role, with the added responsibility that the Associate continues to manage the asset after close. The Associate is the first reviewer of the Analyst's work and the primary day-to-day point of contact for counsel, accountants, lenders, brokers, and target management. The role suits a candidate who has completed an analyst program, wants ownership rather than execution support, and is prepared to be measured on transaction outcomes rather than deliverables. Key Responsibilities Deal Sourcing Originate and develop proprietary deal flow through direct owner outreach, intermediary relationships, and sector mapping within defined investment themes. Build and maintain relationships with brokers, bankers, lenders, operators, and other intermediaries, and represent the firm credibly in first conversations with owners. Set screening criteria, triage inbound opportunities, and make the initial recommendation to pursue or pass, with the rationale documented. Own the pipeline and its reporting to executive leadership. Thesis Development Develop and defend investment theses, including the market view, the value creation path, the risk set, and the exit or hold rationale. Determine the analysis required to prove or disprove a thesis and direct the Analyst in producing it. Author investment memoranda and present recommendations to executive leadership and the investment committee. Recommend structure — asset versus equity purchase, cash-free debt-free terms, rollover equity, earnout, seller note, and escrow — and articulate the tax and risk consequences of each. Transaction Execution Run the diligence process end to end, including scope, advisor selection, workstream sequencing, budget, and timeline. Direct accounting, tax, legal, insurance, environmental, and operational diligence workstreams and synthesize findings into their valuation and structuring consequences. Own the net working capital peg analysis, the quality of earnings review, and the enterprise value to equity value bridge, and defend each in negotiation. Negotiate commercial terms in coordination with executive leadership, and manage the letter of intent and purchase agreement process alongside outside counsel. Lead financing workstreams, including lender selection, credit package preparation, term sheet negotiation, and satisfaction of closing conditions. Manage the closing checklist to completion, including funds flow, closing statement, and post-closing obligations. Modeling and Analysis Own the underwriting model for each transaction and remain accountable for its assumptions, mechanics, and conclusions. Review and stress the Analyst's work, including formula integrity, circularity, balance checks, and cash tie-out. Build and interrogate returns analyses, including internal rate of return, multiple on invested capital, and downside cases, and articulate what has to be true for the deal to work. Determine valuation methodology and reconcile the outputs of comparable company, precedent transaction, discounted cash flow, and leveraged buyout approaches. Identify the assumptions that drive the outcome and present them explicitly rather than burying them in the model. Asset Management and Post-Acquisition Operations Serve as the firm's day-to-day owner representative for assigned assets and operating businesses following close. Build the value creation plan and the first-hundred-day plan, translate them into measurable targets, and hold the operating team accountable to them. Monitor performance against the underwriting model, investigate variances to their operating cause, and recommend corrective action. Oversee integration workstreams, including accounting and reporting standardization, systems implementation, and internal control design. Manage lender relationships post-close, including covenant compliance, borrowing base administration where applicable, and reporting obligations. Evaluate follow-on investment, refinancing, recapitalization, and disposition opportunities within the portfolio. Supervise, review, and develop the Analyst. Qualifications Required Bachelor's degree in Finance, Accounting, Economics, Business, Real Estate, or a related field. Two to five years of experience in investment banking, private equity, transaction advisory, corporate development, or commercial real estate investment, including completion of at least one closed transaction in a substantive role. Advanced financial modeling ability, including leveraged buyout and three-statement modeling built from a blank workbook. Working knowledge of transaction structure and the mechanics of purchase price adjustment, including net working capital pegs, indebtedness and transaction expense definitions, and escrow and earnout provisions. Demonstrated ability to manage advisors, hold a timeline, and drive a process without daily direction. Clear and economical written communication; able to write an investment memorandum that a decision-maker can act on. Sound judgment, intellectual honesty about what the analysis does and does not support, and discretion in handling confidential information. Preferred Lower middle market transaction experience, including deals where the seller is the founder or owner-operator. Post-close operating or integration experience. Experience with real estate, industrial, distribution, or business services assets. Familiarity with NetSuite or a comparable enterprise resource planning platform. CFA or CPA designation, or an MBA. Work Environment and Benefits HD Management offers a collaborative, low-bureaucracy environment with direct and sustained exposure to executive leadership. Because the firm owns what it buys, the team follows each transaction from sourcing through ownership rather than handing it off at close. The firm provides competitive compensation, paid time off, and professional development support. How to Apply Interested candidates should submit a resume and cover letter outlining how their experience aligns with the responsibilities and qualifications described above. Qualified applicants will be contacted for an interview. Equal Opportunity HD Management is an equal-opportunity employer. We encourage candidates of all backgrounds to apply.

Pay:

$125,000.00 - $150,000.00 per year

Benefits:

401(k) Dental insurance Health insurance Life insurance Paid time off Vision insurance

Education:

Bachelor's (Required)

Work Location:

In person