Head of M&A

About Euc‍‍

‍We’re making good health last a lifetime

More than 1 billion people globally live with obesity, a significant leading indicator of many preventable chronic diseases such as diabetes and heart disease.

Eucalyptus is the company behind Juniper, one of the world’s largest weight management programs combining GLP-1 medication with a tailored nutrition and exercise programme, supported by our multidisciplinary care team of prescribers, health coaches, dietitians, nurses and pharmacists.

Our published clinical research demonstrates that our combined approach to weight management and lifestyle change increases the likelihood of our patients losing significant weight during their treatment with Juniper by four times.

Since launching, we’ve grown fast to support millions of patients. In the last 12 months:

• We grew the size of our patient base by 10x in the UK, received selective NICE endorsement for our holistic approach to obesity management, and grew our team from 50 to 200.
• Globally, we grew revenue by >120% YoY, while reducing cash burned by 90% YoY, with over $100M USD raised from global investors such as BOND, NewView, Blackbird and Airtree - early backers of companies like Canva, Stripe, Uber and Airbnb.

 

About the Role

We’re seeking a Head of M&A to build an elite private equity fund inside a hypergrowth D2C healthcare company with market leadership across multiple continents in the defining consumer healthcare innovation of our generation.

You will own creation of our M&A strategy and investment theses, a disciplined capital allocation framework, and a system for programmatic sourcing, execution and integration of deals. You’ll get to advance the global development of preventative healthcare by expanding our share of patient healthcare wallet.

What You’ll Be Doing (why this role is interesting)

We’re in a privileged position to have a market-leading product across 3 continents with a TAM of >30% of population and <5% penetration. We’re in the midst of a once-in-a-generation business opportunity and we want to create a world-class M&A team to capitalise on this opportunity.

We want you to lead the creation of an internal PE fund, complete with a variety of acquisition archetypes, systematic sourcing, a disciplined capital allocation framework and a slick execution and integration playbook.

Why this isn’t your ordinary corp dev / M&A role:

• Creativity (strategy + M&A): our M&A strategy won’t just be roll-ups. You will be expected to create an M&A strategy across multiple verticals and use a variety of PE investing techniques (multiple arbitrage, distribution advantages, shape-changing bets, etc.). You will need to understand the strategic levers in our business better than anyone and get creative in finding new distribution channels, undervalued opportunities, margin expansion opportunities, etc.
• Systematic sourcing: you and your team will then be responsible for building the pipeline of targets within our strategic archetypes. You’ll have access to our networks but will need to hustle your way to 0 → 1 our sourcing pipeline, which should be repeatable at scale
• Build disciplined capital allocation framework: our >100% yoy organic growth rate (at scale) means we have an exceptionally high ROIC hurdle. You will need to develop a capital allocation framework that brings clarity to our deal sourcing, structuring and execution strategy. If you’ve ever fan girled over Berkshire, Constellation, Invest Like the Best, the Outsiders, Michael Maboussin, et al then you’re going to love this part of the job
• Transaction structuring: you will have all transaction structures and financing instruments available to you, and will need to decide which structure best fits your deal archetypes
• Build a team: we expect you to be able to build and lead a team to execute deals. We’re not looking for someone to endlessly churn models internally. We want you to excel at strategy and sourcing, and be world class at delegating execution to advisors / your team that you then drive to execution
• Love of the craft: you’ll work directly with our CEO and VP International who both love the craft of M&A. Your motivation will come from a shared passion within a small team with high autonomy, and the energy of building a world leading preventative healthcare company (not fear or obligation)

About You (Who We’re Looking For)

Skills and experience

• 8+ years of experience across investment banking/consulting and private equity at high performing shops. Bonus points if you have worked on in-house M&A or corp dev in a hypergrowth business before
• Investor mindset: ability to quickly understand strategy & drivers of our business, turn them into investment theses and then find deals that drive long term ROIC or create unfair advantages
• Sourcing, execution and integration playbooks: you are able to communicate repeatable playbooks for deal sourcing, execution and integration. You should understand these at a first principles level, so that we can riff on new deal archetypes and you can create the sourcing, execution and integration playbooks in real time
• Leadership: proven ability to lead teams to execute deals (across both advisors and internal direct reports)
• Passion: this role is best suited to someone who has a genuine passion for capital allocation / value creation and deal making. If you don’t find yourself thinking and reading about these topics in you spare time then it will probably wear you out
• Ambition: you have the ability to visualise our pathway to the world’s leading preventative healthcare company and are excited by this challenge
  
  

Behaviours & Attitudes

• You act like an owner and lead with humility
• You energise and align those around you
• You get a kick out of solving tough problems quickly
• You hold yourself and others to the highest bar
• You’re deeply curious and never satisfied with "good enough"
• You’re resilient, adaptable, and unafraid of ambiguity

So, why join Eucalyptus?

• Make real impact, fast - We build in the open together, which helps us learn and iterate more quickly to deliver high-quality outcomes faster than anyone else. Helping impact patients’ lives for the better from the moment you join Euc.
• You’ll be supported to accelerate your career - Regular feedback alongside our bi-annual performance reviews, a professional development budget & leave help ensure you have the support you need to level up. We’re committed to helping every Eucalypt reach their full potential.
• You’ll work with others who are incredibly passionate about what they do - Our talent bar is high, and our work ethic is strong. You’ll get to stretch yourself every day, be given autonomy to tackle interesting problems, and work amongst people who care deeply about our patients.
• We also offer a range of benefits including
  • Your own stake in the business with our employee options program
  • Newly opened HQ in vibrant Old Street, designed for focus and collaboration
  • A flexible hybrid setup: 3 days a week in our Old Street office
  • A monthly wellness allowance, for you to spend on whatever wellness means to you
  • A yearly personal development budget and 3 extra days of leave to continuously up-skill yourself
  • 25 days holiday + bank holidays with an enhanced parental leave policy
  • A fun office with regular socials including after-school sport, clubs, cycle kick-offs, and seasonal parties. We had our winter social in Paris last year! 🇫🇷
  • Your own MacBook and more!
    
    

At Eucalyptus, we value individuals from all backgrounds, experiences, and perspectives, and we embrace the unique qualities each person brings. When you apply, please let us know of any reasonable adjustments you may need during the interview process.