Search Funds in the US vs Spain: One Model, Two Playbooks
Multiples, SBA versus Spanish banks, sourcing, and the person across the table. What actually changes when the model crosses the Atlantic, from an investor active in both markets.
Permanent Capital in Search Funds: What No Fund Clock Changes
What a fund clock quietly does to diligence, boards, and exits, what changes when it is gone, and the honest trade-offs. Plus the four questions every searcher should ask their investors.
The ETA Bookshelf: What to Read Before You Buy a Company
Fourteen books we actually recommend to searchers, from the HBR Guide to 100 Baggers and Winning Moves. Plus the letters: Berkshire, Permanent Equity, Stanford, IESE.
Best Search Fund Investors in Spain (2025–2026 Practical Guide)
Spain is the #2 search fund market globally. This guide covers who the active investors are, how they differ, and what to think about when building your investor syndicate.
Search Funds in Spain: A Practical Guide for Entrepreneurs
Why Spain has become one of Europe's most active search fund markets, and what operators need to know before launching.
Winning Seller Trust in Spanish Business Succession
In a market where 85% of companies are family-owned and many lack succession plans, trust is the real currency of deal-making.
Working Capital Traps Every Search Fund CEO Should Know
The due diligence blind spots that turn promising acquisitions into cash-flow nightmares. A practical framework from the operator's chair.
Seller Notes and Earn-Outs: When to Use Each in a Search Fund Acquisition
A structuring guide for bridging valuation gaps, aligning incentives, and closing deals that work for everyone.
The First 100 Days: An Operator's Playbook After Acquisition
How to build trust, establish operational cadence, and avoid the pitfalls that derail new CEOs in their critical opening months.
Bank Financing for SME Acquisitions in Spain: What Credit Committees Want
Navigate Spain's bank lending landscape for search fund deals, from SPV structures and financial assistance rules to credit committee expectations.