Senior Associate: M&A Analysis

Flying Horse Capital; United States; Remote; USD 110,000 - 140,000; Full time

Job summary

Flying Horse Capital is seeking an analyst to evaluate potential acquisitions from first look to close. The role is fully remote with travel to Dallas–Fort Worth roughly once per quarter for working sessions and live deals, and additional site visits as needed.

You''ll run analysis on live opportunities, build underwriting models, and participate in management calls. This small firm focuses on lower-middle-market companies and offers base compensation of $110,000–$140,000 with a year-end bonus

Qualifications

• 2–3 years in investment banking, transaction advisory, private equity, corporate development, valuation, or audit.
• Bachelor's degree in Finance, Accounting, Economics, or a related field.
• Strong financial modeling ability and comfort reading financial statements.

Responsibilities

• Evaluate potential acquisitions from first look to close.
• Build acquisition models: operating projections, sources and uses, debt capacity, and returns analysis.
• Review CIMs, financial statements, and seller materials; identify what drives the business.
• Normalize earnings and test add-backs; verify seller representations.
• Prepare investment memoranda and recommendations for the CEO.
• Coordinate diligence workstreams with outside advisors.
• Travel to target companies for site visits as deals progress.
• Track diligence findings and translate them into valuation and structuring implications.

Skills

Investment banking

Transaction advisory

Private equity

Corporate development

Valuation

Audit

Education

Bachelor's degree in Finance, Accounting, Economics, or related field

Job description

Travel:

Quarterly travel to Dallas–Fort Worth, plus periodic site visits for active deals

Reports to:

Founder & Chief Executive Officer

Experience:

2–3 years

Compensation:

$110,000–$140,000 base + annual performance bonus + deal participation

About Flying Horse Capital

Flying Horse Capital is a permanent capital firm that acquires lower-middle-market, founder- and family-owned businesses and holds them for the long term. No fund life. No five-year clock. No forced exit. Most private equity is built around the exit. Ours is built around the hold. We buy businesses that people spent careers building, and we keep them which means we underwrite differently, we care about different things in diligence, and the questions we ask about a company are the ones an owner asks, not the ones a seller asks.

About the Role

You will evaluate potential acquisitions from first look to close.

This role is fully remote and we are hiring for fit, not zip code. We would rather have the right person in Denver, Charlotte, or Cleveland than a convenient one in Dallas. You will travel to the Dallas–Fort Worth area roughly once a quarter for working sessions and planning, and you should expect additional travel for site visits and management meetings when a deal is live.

This is a small firm. You will not spend two years formatting pages for someone else's model. You will run the analysis on live opportunities, sit on management calls, build the underwriting, and have your view heard when we decide whether to move forward on a business. Deals you work on are deals we own.

The work is genuinely mixed. Some weeks are modeling and diligence. Others are sourcing building target lists, working intermediary relationships, and getting owners on the phone. If you want a role that is purely analytical, this is not it. If you want to learn how businesses actually get bought, this seat will teach you faster than a bigger platform will.

What You'll Do

Deal evaluation and underwriting

• Build acquisition models: operating projections, sources and uses, debt capacity, and return analysis under a long-term hold


• Review CIMs, financial statements, and seller materials, and identify what actually drives the business


• Normalize earnings, assess add-backs critically, and pressure-test seller representations


• Prepare investment memoranda and recommendations for the CEO and advisory council


• Coordinate financial, legal, insurance, and operational diligence workstreams alongside outside advisors


• Support quality of earnings review, working capital analysis, and net debt calculations


• Analyze customer concentration, margin durability, owner dependence, and key-person risk


• Travel to target companies for site visits and management meetings as deals progress


• Track diligence findings and translate them into valuation and structuring implications

Sourcing

• Build and maintain target company lists in target industries and geographies


• Manage outreach to business owners, brokers, and M&A intermediaries, and maintain the CRM


• Screen inbound opportunities against our acquisition criteria and recommend which merit real work


• Represent the firm at industry events and conferences and develop intermediary relationships

Post-close

• Support onboarding of acquired companies, including reporting cadence and KPI definition


• Assist with integration analysis, add-on acquisition evaluation, and portfolio company projects

What We're Looking For

Required

• 2–3 years in investment banking, transaction advisory, private equity, corporate development, valuation, or audit


• Bachelor's degree in Finance, Accounting, Economics, or a related field


• Strong financial modeling ability — you can build a three-statement model and a returns analysis from a blank workbook


• Comfort reading financial statements closely enough to know when something does not add up


• Clear, direct writing. Working remotely, most of what you produce will be read before it is discussed.


• Demonstrated ability to work independently and manage your own priorities without daily supervision


• Willingness to travel quarterly to DFW and as needed for live transactions

Preferred

• Lower-middle-market or independent sponsor experience


• CPA or CFA, or progress toward either


• Direct exposure to closed transactions, quality of earnings work, or buy-side diligence


• Prior remote work experience on a small team


• Industry familiarity with construction, HVAC, industrial services, manufacturing, or distribution

How You Work

• You are willing to pick up the phone and call a business owner you have never met


• You are skeptical by instinct and check things yourself


• You over-communicate rather than going quiet, and you flag problems early


• You are comfortable being the whole analytical team rather than one seat on it


• You want ownership of your work and are ready to be accountable for it

Why This Role

• Real deal exposure, early. You will work live transactions from sourcing through close, not one slice of one workstream.


• Access. You report directly to the founder and sit in on owner conversations, advisor calls, and investment decisions.


• Location flexibility. Build a deal career without relocating.


• Skin in the game. Deal participation for closed transactions, structured to reward the long-term performance of what we buy.


• Path. As the portfolio grows, this role leads toward principal-level responsibility or an operating seat inside one of our companies.

Compensation and Benefits

• Base salary of $110,000–$140,000, commensurate with experience


• Annual performance bonus


• Deal participation on closed transactions


• Medical, dental, and vision coverage


• 401(k)


• Paid time off and company holidays


• Travel and expenses covered for quarterly DFW visits and deal-related travel