Support Writing a Book on the Unglamorous side of Search Funds

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by a professional from The University of Chicago - Booth School of Business in Chicago, IL, USA


Hi all,

I am a former search fund CEO who successfully acquired, exited 2 businesses, grew 2 ventures to $31M ARR and $7M in revenue, and now is the Cheif Strategy Officer of a family office that runs more than 30 companies in its portfolio. I have also been a columnist for CNBC, Forbes, Fortune, Inc, etc. I am working on a really fun project with my friends in the broader media space.

I am writing a book on the uglier side of search. These are the topics I'd like to cover:


Why search fund CEOs get fired?

How many CEO get fired or are forced to resign?

Is the CEO really a CEO or just a custodian of the business in a traditional search fund?

What's up with nonvotable shares for search fund CEOs when it comes to important matters?

Why are up to 1/3 of search fund CEOs getting fired and why are less than half of searchers acquiring now through a traditional search fund?

Do board members treat minority or women CEOs differently?

CEO Termination rate based on race, gender

CEO Termination rate based on investor

What is the true value0-add of traditional search fund investors?

Does the traditional SF model need to change?

Do the search fund economics need to change?

What's up with the forced buyout of shares post-acquisition from non-participating search fund investors? Why does this matter?

What is the searcher IRR vs investors? (Surprise - The Stanford Primer is based on search fund investor metrics, not the searcher metrics when it comes to comp during an exit)

What do search fund CEOs do after they get fired?

Why do so many CEO not talk about their termination? Why do they feel so ashamed?

Why do many search fund CEOs not get an employment agreement after they assume a CEO role and how does this help the search fund board or shareholders from lawsuits?

What does the separation agreement look like if you do get fired as a searcher CEO?

Why do certain investors have commitment issues during PRN and when you are closing deals?

What is the search fund mafia and why it matters when you search with traditional investors?


While we have 100s of interviews, conversations, and stories from investors, searchers, vendors alike, I wanted to reach out to the community to see if we can figure out a way to improve the search ecosystem.


What are some questions that you have in mind that you'd like the book to cover? Who would you recommend that we interview?


We have also reached out to schools and all ETA clubs to share data and I think this would be a very rewarding and resourceful project for anyone who is considering to be an acquisition entrepreneur.


Kevin






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