Post-exit founder looking to initiate a roll-up in commercial services. Two questions for people who've done this.
1. Where do you find and reach investors? I've found the Search Fund Alliance member listing. Any other directories, communities or lists worth knowing?
2. Does this process look right, and what would you change?
- Pick a vertical and build the investment thesis
- Structure searcher compensation and investor terms
- Source deal flow through brokers and direct owner outreach
- Raise capital, deal by deal or search funded
- Get under LOI, diligence, close the first acquisition as the platform
- Hire a GM to run it day to day while I move to the holdco role
- Source tuck-ins, each one folded into the platform
- Exit: sell to a PE firm on the secondary market, or hold
Where do you see searchers get stuck? Best practices, mistakes to avoid and resources are all welcome. Happy to share what I learn.