In this episode, we are joined by Matthew Bradley. Matthew is the founder of Tikto Capital, a private investment firm investing in and acquiring UK SMEs and tech businesses. Before Tikto, Matthew was the CIO and CFO of Forward Partners, a publicly-listed venture capital firm. During the episode, Matthew shares valuable insights into his investment and deal origination strategy, how he pivoted to minority investments throughout last year (2023), and the importance of engaging with businesses that...
Jan 25, 2024•45 min•Ep. 73
In this episode, we are thrilled to have a returning guest, Rob LeBlanc— Co-Founder & Managing Partner of Ambit Partners. Rob brings a wealth of experience in traditional search fund investing, particularly in emerging markets, investing in 80 search funds across 30 countries. During the episode, Rob delves into the intricacies of Ambit Partners' searcher selection process, the importance of a strong local cap table, and the most interesting markets they have invested in Fund I. We also get ...
Jan 15, 2024•1 hr 3 min•Ep. 72
Today we speak with Jordan Hammond, owner of Genuine Comfort. Jordan grew his business from scratch to $5m in turnover before turning to strategic acquisitions to nearly triple his top line while simultaneously doubling the profit margins. During the episode, Jordan shares his unique approach to reaching out to competitors, building relationships, and ultimately executing successful acquisitions. He walks through the crucial role transparency plays in fostering trust during these intricate negot...
Jan 09, 2024•50 min•Ep. 71
This week, we wanted to publish an episode that was released a while back but feels very relevant given the current debt financing market. The listenership has grown significantly since this was released so you may not have heard this. Royalty financing is an interesting alternative financing offering for buyouts or equity releases. It mixes certain elements of debt and equity in an attempt to better align with owners. In the episode, we get into the details of royalty financing and the types of...
Dec 11, 2023•39 min•Ep. 70
This week we speak with Alexi Jones, a former investment banker- turned startup founder and now acquisition entrepreneur. Alexi now heads up Viso Logistics, a business acquisitions group building a next-generation UK logistics network. During the episode, we discuss Alexi's first acquisition of Jag Express, his deal sourcing and acquisition strategy, why he decided on this sector and his future plans This week we also announced the Buy and Build Accelerator. If you are a searcher, check it out t...
Nov 29, 2023•48 min•Ep. 69
This week we speak with co-host Graeme Wallis to discuss the successful raising of his search fund, Hargrave Succession. We discussed his fundraising process, how he built an investor network, and the importance of having a complimentary cap table. We also dive into the types of companies Graeme is searching for and his internship program. Graeme then turns the tables and gets an update from Paul. Enjoy!
Nov 20, 2023•50 min•Ep. 68
This week we speak with Sandy Farmer and Jo Cockburn from Ethos Partners - entrepreneurial providers of supportive capital for cash-generative, fast-growing, ambitious UK and European companies. In this episode, we dive into the fascinating journeys of Sandy and Jo, the story behind the founding of Ethos, and its mission to bridge the gap between retiring business owners and aspiring investors. We then dive into the search fund/ ETA ecosystem. We discuss why the asset class fits their investment...
Sep 18, 2023•51 min•Ep. 67
This week we speak with Ritz Steytler, CEO of Abacus Partners and a senior advisor at Vonzeo Capital. Ritz is also the co-founder and CEO of Axora, an innovative B2B marketplace driving digital transformation for industrial companies. In this episode we dive into Ritz's journey as a searcher and operator of PXP Solutions, including his role in the acquisition of omnichannel payment processor PXP solutions by Abacus Partners, a payments business that underwent a transformation, leading to a signi...
Aug 30, 2023•1 hr 2 min•Ep. 66
This week we speak with Dr Ewan Lloyd-Baker, an accomplished entrepreneur with an extensive background in turnarounds, corporate finance, and M&A. In this episode, Ewan shares his experience acquiring and growing a 200-year-old manufacturing company. We discuss the benefits of acquisitions and reverse mergers and the pros/cons of running a publicly listed entity. We also delve into the key insights from the eventual exit in 2018. Ewan is a natural leader with a wealth of knowledge. We hope y...
May 22, 2023•58 min•Ep. 65
This week we replay an episode where Paul was a guest on the Build and Exit podcast hosted by Julie Wilkinson. Julie does a great job at chronicling Paul's search journey and they cover a lot of topics that the listeners often ask about. So I hope this is helpful! Check out Julie's podcast: Build and Exit
May 16, 2023•34 min•Ep. 64
Bent Flyvbjerg is the first BT Professor and inaugural Chair of Major Programme Management at Oxford University's Saïd Business School and the Villum Kann Rasmussen Professor and Chair in Major Program Management at the IT University of Copenhagen. He recently published a new book titled How Big Things Get Done, which breaks down the key elements of successful project management. In this episode, Professor Flyvbjerg discusses how he became interested in the execution and management of mega proje...
Apr 10, 2023•56 min•Ep. 63
This week we speak with Ayo Disu, Co-founder at Octillion Capital Partners (OCP). OCP is an eCommerce acquisition company that acquires, operates, and builds culture-defining, socially conscious consumer brands. In this episode, we discuss OCT's first acquisition of Lean Caffeine, a health-conscious coffee company that also sells superfoods like bone broth and MCT oil. Ayo talks about the synergies between the missions of Lean Caffeine and Octillion Capital Partners, and how the acquisition has ...
Mar 27, 2023•53 min•Ep. 63
This week we speak with Bruno Lea on the latest episode in the ETA mini-series. Bruno launched the first traditional search fund in France in 2018, Lea transmission SAS. Since acquiring, Bruno is the current president of Haas Automation in France and Spain. He also completed his MBA at IESE Business School and worked as an associate director of MBA admissions there. During the episode, Bruno shares how he discovered the model during his MBA and how he initially thought it was a model that could ...
Mar 06, 2023•1 hr 4 min•Ep. 62
This week we speak with João Diogo Stoffel, founder of the first traditional search fund in Portugal in 2017. After the successful completion of his search in 2019, João now runs Project To Be, an organization focused on the early education sector with the aim of operating a group of Portuguese and Spanish family-oriented schools. During the episode, Joao shares his journey into the world of ETA from his time at IESE Business School. We also discuss the importance of understanding a market like ...
Feb 20, 2023•1 hr 6 min•Ep. 61
This week we speak with Gautam Basu, the managing partner at True North Search. Gautam has 30 years of experience executing M&A transactions and is a Professor of Practice, a board member, and an entrepreneur in the acquisition space. In this episode, we explore ETA in the Nordics. Gautum shares his experience educating both investors and searchers on this new and exciting market. Gautam also discusses the different aspects that make the Nordics an attractive ETA region, including the demogr...
Feb 06, 2023•48 min•Ep. 60
This week we speak with Tobias Raeber, a former searcher and now seasoned investor and advisor. In 2013, Tobias raised the first partnered search fund in Europe, focusing on Switzerland and Germany. In this episode, we discuss the Swiss and German markets and how they compare to other ETA markets in Europe. Tobias also shares his insights and experiences fundraising in a new market without the typical MBA experience, and we also discuss his successful (partial) exit from the business he acquired...
Jan 30, 2023•54 min•Ep. 59
In today's episode, we welcome back Jan Simon, a well-known figure in the ETA community. Jan is the Managing Partner of Vonzeo Capital Partners and is also a lecturer and professor at various business schools. In this episode, we continue our regional mini-series by discussing the ETA/search fund market in Spain, the second-largest market for search funds outside of the US. We start off by discussing the history of search funds in Spain. We get into other ETA models and Jan explains how market m...
Jan 23, 2023•54 min•Ep. 58
In this episode, Paul and Graeme are joined by Simon Webster, who raised the first search fund in the UK in the 1990s. That acquisition was an incredible success but not without its challenges. Since then, he has exited a few turnarounds and invested in over 50 search funds. He is also very involved in several key business schools across Europe as an advisor and lecturer for all things ETA. Simon shares his story of how he first learned about search funds and his thoughts on the UK market in the...
Jan 16, 2023•56 min•Ep. 57
This week we speak with Luis Reyes, managing partner of Iberian Ventures. Luis discusses why his second acquisition, which was in the fire protection sector, has caused his fund to focus almost exclusively on consolidating the industry. Luis explains why the sector is attractive, why rolling-up smaller operations make sense, and how to acquire below the levels of the PE. Paul and Luis also discuss the similarities between the sectors across the UK And Spain. Enjoy!
Dec 12, 2022•51 min•Ep. 56
This week we speak with Craig Brennan, founder and CEO of The Little Sports Group. Craig is building a group of companies in the sports, education and childcare sectors. After growing his first company to £1M in revenue organically, Craig acquired a competitor and doubled the size of his business overnight. Since then he has completed 7 acquisitions in the last 18 months. In this episode, we discuss what makes the sports, education, and childcare sectors so compelling. We also discuss how Craig ...
Dec 05, 2022•48 min•Ep. 55
This week we speak with Graeme Wallis who is embarking on his ETA journey by pursuing a traditional search fund. Graeme is passionate about ETA and the UK ecosystem, and he will be joining us on future episodes. In the episode, Graeme shares how he leant about search funds, and why the traditional route appealed most to him, and then Paul and Graeme discuss the differences between traditional and self-funded search funds and the UK- specific nuances. Enjoy!
Nov 22, 2022•59 min•Ep. 54
This week we speak with Mike Hindi, Chairman of Green Logistics Groningen. Mike searched for his company as part of the Novastone searcher cohort and acquired his company in The Netherlands, will living in Switzerland. In the episode, Mike discusses the importance of people and building relationships for both the operational stage and for a smooth acquisition process. Mike also discusses why he was so attracted to the business he acquired, the complexities of a cross-border transaction, and the ...
Nov 14, 2022•51 min•Ep. 53
This week, we speak with Julie Wilkinson - a Chartered Accountant, Virtual CFO, and M&A specialist helping ambitious business owners buy and grow SMEs. In this episode, we cover deal valuation and structuring, financial and operation due diligence, building a group and the nuances of group reporting and cash flow. If you are looking to buy multiple businesses- this is a great episode to listen to.
Oct 31, 2022•35 min•Ep. 52
This week, we speak with Nick Bradley. Nick is an experienced entrepreneur, CEO, and investor in SMEs. Nick now partners with business owners to scale and eventually exit their businesses. Nick helped grow Getty Images via acquisition around 2008-2010 and more recently helped scale Ascend Learning to an eventual sale to Blackstone PE. Nick also hosts Scale Up With Nick Bradley, which is one of the top-ranking business podcasts in the UK. In this episode, Nick shares some fascinating stories on h...
Oct 17, 2022•51 min•Ep. 51
This week, we speak with Logan Naidu, Founder, and Group CEO - of Kernel Global and Dartmouth Partners. Dartmouth has been listed by The Sunday Times as one of the UK's fastest-growing firms in 2022 and recognized by Fast50 as the fastest-growing company in its industry. In this episode, Logan shares why he left the world of finance to start his own recruitment company, his experience acquiring Pure Partners, and partnering with private equity to continue his ambitious growth plans. Enjoy the ep...
Sep 26, 2022•39 min•Ep. 50
This week, Paul is excited to announce the acquisition of his first business. A fantastic company in the home improvement sector, in the UK. During the episode, Paul discusses why he decided to look into the home improvement sector and why he is excited about this particular company. Paul also recaps his search journey and the challenges he encountered along the way. Enjoy!
Sep 20, 2022•57 min•Ep. 49
This week, we speak with Sarah Gardner, Founder and Managing Director of Allegro Tax - a specialist tax advisory firm. In this Episode, Sarah begins by discussing the advantages and disadvantages of buying a target company through an SPV as opposed to doing so personally, how to benefit from entrepreneurs' relief, the tax efficient options available for incentivising employees, tactics for minimizing capital gains tax when acquiring a business and much more. Enjoy the episode!
Sep 05, 2022•51 min•Ep. 48
This week, we speak with Mark Flood, co-founder and director of Renatus Capital Partners, a private equity firm based in Ireland that makes investments in Irish and UK companies with enterprise values of €5 million and above. In this episode, Mark shares his journey leading up to the launch of Renatus, the ins and outs of raising a fund, what they look for in their portfolio companies, how they hire and attract the right people, and more about the Irish private equity ecosystem. Enjoy the episod...
Aug 29, 2022•38 min•Ep. 47
This week, we speak with Ross Tomkins, an entrepreneur, investor, author, and mens health advocate. Ross is also the founder of TDH Capital, an integrated healthcare group with 4 verticals: medical supplies, home care services, healthcare recruitment, and mens hormonal healthcare. In this episode, Ross describes how his acquisition journey began after running his physiotherapy business for many years, how he sourced and structured 7 acquisitions since Covid [and 2 exits], and how he thinks about...
Aug 15, 2022•43 min•Ep. 46
This week, we speak with Dan Cremons, a former private equity investor and CEO; and now founder of Accelera Partners and Author of Winning Moves: 105 Proven Ways to Create Value in PE-Backed Companies. In this episode, Dan discusses how leadership, talent, and capabilities drive performance of PE-backed companies. We discuss how to ensure the right talent is in place for a target acquisition, how to recruit and incentivise high performers, and so much more. Enjoy the episode and be sure to check...
Aug 01, 2022•54 min•Ep. 45
