What I Learned This Week – Search Fund Investors, SBA Regs & HoldCo Insights

A few pieces really stood out to me this week across the SMB M&A and EtA world: 📘 Yale’s new case study dives into what search fund investors actually do (and don’t do). They bring capital, board support, and networks — but deal sourcing, operations, and job security? That’s all on the CEO. ⚠️ New SBA regulations could derail GovCon acquisitions. Starting Jan 2026, acquirers may lose access to option years on contracts if the acquired business no longer qualifies as "small." Could really impact retirement exits for owners and pricing for buyers. 🏔️ HoldCo insights from Utah: RollUpEurope shared a recap of a 3-day gathering with 100+ HoldCo owners. A few takeaways: - AI tools are flooding seller inboxes, making it harder to break through. - Storytelling and emotional intelligence matter more than ever. - Family offices often get better deal flow than searchers — specificity helps bridge the gap. I share this kind of content every week in The Business Inquirer — here’s the full issue if you’re interested: 👉 https://thebusinessinquirer.substack.com/p/what-i-learned-last-week###-###-####