MC Partners Interview

This interview conducted by M/C Partners asks the candidate to consider a majority investment in an independent bandwidth infrastructure provider that owns, operates, and maintains a fiber network in the southwest. The candidate is provided with an interview prompt which provides transaction assumptions as well as an overview of the asset’s business model, customer base, and relevant market dynamics.

In addition to the interview prompt the candidate is provided with three documents:

• 1) The asset’s financials
• 2) An industry primer
• 3) A template which includes an operating and returns model

 The candidate is expected to prepare two outputs:

• 1) A completed operating and return model based on the provided template. The operating model asks the candidate to make operating assumption schedules down to unlevered free cash flow. The returns model includes a three-statement model, cash & debt paydown schedules, and IRR & MOIC returns analyses
• 2) An investment memo which includes the candidates investment recommendation, perspectives on the merits and risks of the asset, and topics that might require further diligence

Following completion of these outputs, the candidate is expected to present their findings and participate in a Q&A session.