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Permira’s Brian Ruder Talks AI, Squarespace Acquisition, and the Value of Co-Leadership
In a conversation with TechCrunch, Permira partner Brian Ruder discussed his firm’s recent $1.7 billion investment in Squarespace, as well as its approach to AI and private equity.
Ruder emphasized that it’s not just about timing when it comes to acquisitions at the scale of Squarepace, it has to be the right time for both the company and Permira itself. “Especially for public companies — you can’t buy those companies at the low-end, as it’s very hard to get boards to transact there,” he explained. “And justifiably so — it doesn’t make a lot of sense for those boards to want to sell unless the company is in distress.”
Ruder highlighted that Permira focuses on procuring “quality assets” that are fundamentally healthy, unlike some private equity firms which prioritize maximizing EBITDA margins in the near-term. This approach has led to the majority of its investments involving founders or co-founders who remain at the helm.
“We’re believers that we can generate a better return over time by backing great unit economics,” Ruder said, adding that this method tends to be more appealing to individuals who care about where their businesses go in the long run. Consequently, Permira gravitates towards situations where it has the opportunity to work with founders.
On AI, Ruder emphasized Permira’s interest in harnessing its power for growth and innovation, stating that “we believe AI will play a critical role in many of our portfolio companies going forward.”
Source: techcrunch.com
