TY - JOUR T1 - Roll-Up IPOs JF - The Journal of Private Equity SP - 80 LP - 95 DO - 10.3905/jpe.1999.319942 VL - 3 IS - 1 AU - Daniel C. Adashek Y1 - 2000/02/28 UR - https://pm-research.com/content/3/1/80.abstract N2 - A leveraged build-up, or “roll-up,” has become an attractive vehicle for the consolidation of leadership within a fragmented industry. Some roll-up candidates, titillated by the surging tide of capital drenching the public markets, choose to go public simultaneously with their business combination - in what's known as a roll-up IPO. What sort of impact does this strategy have on the combined companies, their operating performance, their bottom - line returns? Are past experiences relevant predictors of future endeavors? This article examines a finite sample of twenty roll-up IPOs launched between 1994 and 1997. Although market conditions today may be vastly different, the lessons learned from this study will continue to apply to consolidation efforts undertaken in the future. ER -