Pivoting from Self-Funded to Traditional?

intermediary profile

May 06, 2025

by an intermediary from University of Zürich in Zürich, Switzerland

Hi everyone, I'm currently running a self-funded search, originally focused on acquiring a food & beverage manufacturer in the U.S. Over time, the process has evolved, and I've developed several strong leads — but interestingly, many of the most concrete opportunities are now in Central and Northern Europe, especially around a roll-up strategy that has started to take shape. I'm based in Switzerland, and a few of these leads are approaching LOI stage. However, as I’ve been funding the search myself, I’m now in a position where I need to take on a job on the side to sustain the process. At the same time, I’m exploring whether it might make sense to switch to a traditional search model, even though I’m already quite far along. Curious to hear from others who have navigated a similar pivot — or who have thoughts on transitioning from self-funded to traditional mid-process. Also open to connecting with investors who may be suited for a cross-border roll-up in the lower middle market, especially those familiar with the European F&B landscape. Appreciate any advice or connections you might be willing to share! Thanks, Fabio
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commentor profile
Reply by a searcher
from University of KwaZulu in Vancouver, BC, Canada
Happy to have a chat on this, going through a similar process, but ultimately it comes down to giving up some of the economics in exchange for being able to fully focus on the process. We are comfortable with that tradeoff and it gives us the opportunity to go bigger in our transaction
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Reply by a searcher
from Western University in Toronto, ON, Canada
Happy to share some thoughts as well. A few questions out the gate - do you have potential investors lined up for the current acquisition; if so, it may be good to explore a revised capital structure to get you to close without needing to completely restructure. How large is the cash gap that you need to fill between "now" and a potential close - could this be financed in a different way such as private debt? Self vs Trad searches seem to offer drastically different economics, which are long term benefits - it's probably not the best idea to sacrifice why you started a self funded search to sacrifice long term gains for short term liquidity.
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