We asked intern Johan Bagger-Jörgensen to tell us about his internship with Clearwater Sweden. Here’s what he had to say…
Tell us a little bit about yourself…
My name is Johan Bagger-Jörgensen. I originally come from Skåne but have now been living in Stockholm for two years. My educational background includes a master's degree in Accounting, Valuation & Financial Management from Stockholm School of Economics and a bachelor's degree in economics from Lund School of Economics, combined with exchange studies at Università Bocconi in Milan. Previous work experience includes part-time jobs at Nordea in parallel with my bachelor's studies. In addition I have completed two internships at Lindéngruppen AB, an owner company of mainly larger industrial groups, and was an M&A Analyst Intern at the acquisition-driven company Petbuddy Group AB. Outside of work and studies, I have a very big interest in football and am a devoted supporter of Helsingborgs IF and AS Roma, which is usually a bit of an emotional roller coaster.
What made you want to join Clearwater Sweden?
During my master's studies, it became increasingly clear that I wanted to work in M&A given that it includes both strategic and financial analysis, the two areas that I appreciated and practiced the most during my studies. The fact that I then applied to Clearwater was mainly due to two factors. First of all, I was attracted to working with M&A in a fast-growing and ambitious team like which Clearwater could offer. In addition, I had classmates from both Handels and Lund who had previously completed an internship at Clearwater and only had positive things to say about the company, the tasks and the culture, which weighed heavily in my decision to apply for an internship here.
What process do you have to go through to become an intern?
The recruitment process to become an intern at Clearwater consists of three steps. First, you apply by sending in your CV, cover letter and university grades. Recruitment managers then carry out a screening, after which candidates are selected to carry out two tests at Clearwater's office, either in Stockholm or Gothenburg, depending on where you live. The tests, in turn, concern both logical thinking and test one's knowledge of technical aspects encountered in daily work. After the test, a number of candidates are then called to a final step, which is an interview consisting of both personal and technical questions. For my part, I appreciated that the process went very quickly from the time you wrote the tests and had your interview and then received information about a possible internship offer. In addition, with hindsight, I can also certify that the tests really reflect the tasks you have as an intern. I would therefore advise future applicants to practice both traditional logic tests and familiarize themselves with company valuation and questions of a more technical nature. If you do this you will be well prepared.
"As an intern, the goal is to get broad exposure to different types of projects and tasks, which means that the weeks may differ somewhat."
What does a typical day as an intern look like?
The typical working day largely depends on which project you are working on, and which phase the project is in. As an intern, the goal is to gain broad exposure to different types of projects and tasks, which means that the weeks may differ ate some. In general, however, you have a start-up meeting on a Monday where the whole team sits down and sets the structure for the project and makes a plan for the coming week. During the course of the week, you then have continuous reconciliations where you discuss the analysis that has been done and add any new aspects that would be of interest to look at more closely. During my time so far, I have been given several different tasks such as doing market research, screening potential acquisition candidates for our client, as well as identifying financial and strategic buyers. In addition, I have worked on the valuation chapter of a pitch, which in brief includes screening of relevant transactions within the sector, mapping of comparable listed companies, as well as the implementation of company valuation based on various valuation methods. In summary, it can be said that a working day for an intern follows a clear structure regardless of the project they are working on, on the other hand, the tasks can vary depending on which specific area within the project they are assigned to.
"One of the things I appreciate most about being an intern at Clearwater is the opportunity to try out different types of tasks and thus get a clear picture of what it means to work with M&A on a daily basis, as well as the privilege of continuous development."
Johan Bagger Jörgensen
Intern
What advice would you give to somebody wishing to be an intern at Clearwater Sweden?
To succeed in the role of an intern, I think you should have a genuine interest in M&A and appreciate working in a team. If you then break down the interest in M&A into smaller components, an understanding of strategic and financial aspects is central, as well as something that you further hone during your time as an intern. The purely strategic concerns factors such as being able to form an understanding of the value drivers in a company, being able to analyze the competitive landscape and how market dynamics affect our customer, as well as the ability to identify who could be interested in acquiring the company. The financial aspects, on the other hand, concern the ability to interpret financial accounts and value a company based on traditional valuation methods. On a purely personal level, I would say that it is beneficial to be proactive, curious and open to learning and comfortable working in a team.
What do you enjoy most about being an intern at Clearwater Sweden?
One of the things I appreciate most about being an intern at Clearwater is the opportunity to try out different types of tasks and thus get a clear picture of what it means to work with M&A on a daily basis, as well as the privilege of continuous development. Another positive aspect is the fact that as an intern you are just as involved as other employees and you are encouraged to take your own initiative and take full ownership of the tasks you are assigned. That being said, your colleagues are always keen to be available for questions that come up, as well as sharing tips and tricks. Overall, it is the cooperative and positive culture, combined with a high level of ambition, that I really appreciate about Clearwater.
"One of the things I appreciate most about being an intern at Clearwater is the opportunity to try out different types of tasks and thus get a clear picture of what it means to work with M&A on a daily basis, as well as the privilege of continuous development."
Johan Bagger Jörgensen
Intern
