I'm a searcher working on a step-by-step build: acquire one healthy business first, then add similar ones over time. The first target has an EBITDA of roughly €200-300k and a small team, and I'm focused on small, asset-heavy service businesses with recurring revenue, for example equipment rental, vending or access-control services. If you want more detail on the sectors, send me a DM and we can discuss it in a call. A bit about me: I'm based in the Netherlands (Amsterdam from April), with a background in finance (audit, credit analysis, due diligence), three companies founded, and an MBA with a thesis on small-business acquisitions. I've already spoken with local investors and with others across Europe. What I've learned so far: it depends very much on the investor, the deal frame, and the kind of deal you can bring. What matters most to me is the strategy behind it: what I plan to build around the first acquisition, and how later deals fit in. This post has two goals: 1. Advice. I'd love your view on these: • Do investors still look at deals this small, or is there a floor below which it stops making sense? • For a build like this, would you rather commit deal by deal, or reserve capital for several? • What would you want to see from a searcher before backing a first deal of this size? 2. Investors. If you invest in, or are thinking about investing in, small acquisitions like this, I'd be glad to hear from you, wherever you are in the world. We can start with a catch-up call. If you're in the Benelux, the UK, Germany, France or somewhere in between, I'm also happy to meet for a coffee. Searchers who have done something similar, I'd also like to hear your experience. Thank you!