Failed Deals
Lessons from Failed Roll-Up Programs
April 28, 20265 min read
Scale stories are easy to finance in presentation form. They are much harder to operationalize when every acquired business arrives with its own friction.
Where roll-ups go wrong
The recurring problem is not the logic of consolidation. It is the underestimation of integration complexity at exactly the moment the platform business is also trying to maintain momentum.
Without strong operating infrastructure, the portfolio starts carrying too many exceptions, too little visibility, and too much leadership time spent on reconciliation rather than performance.