ABOUT US
We are experienced investors and operators specialized in Search Funds
We make active investments in exceptional SMEs via Search Funds and other forms of Entrepreneurship Through Acquisitions at a global scale.
We are hands-on Search Fund investors at the service of the community
- We are former entrepreneurs that have executed 3 self-funded search acquisitions ourselves (majority stakes).
- We have invested in over 20 search funds and in 13 SF-backed companies.
- We are an international and complementary team, fully available to serve our portfolio companies beyond expectations,
WHAT WE DO
We invest in exceptional SMEs worldwide
We focus on consolidated SMEs with a history of profitability that can be acquired at reasonable prices.
- Local economies are filled excellent SMEs that at some point in time face succession issues and – for size reasons – raise limited interest for PE firms and M&A brokers.
- We are interested in excellent SMEs only. Companies with high-quality recurrent revenue, with a long history of stable profitability and potential for additional growth. Companies with fragmented sectors with high margins and barriers to entry.
- We are not interested in turn-arounds or aggressive plans, but in legacy protection and strengthening of as successful business model.
- We are keen to have re-investing owners that wish toare our journey
HOW WE DO IT
We embrace the Classic Search Fund model
The Search Fund model constitutes a unique path to investing in smaller private companies
- Search Fund acquisitions started in the US back in 1984 and have a history of 38 years track record with success rate of over 90%.
- Search Funds target consolidated SMEs, covering a social need for business and employment continuation upon retirement of their founders.
- Search Fund entrepreneurs avoid competition with Private Equity Firms because they focus on smaller deals and are ready to move on to run such companies themselves.
- Entrepreneurs are the cornerstone of the model, which relies on their potential as CEOs and their ability to click with owner of the target company.
- Investors bring experience and business networks that help companies develop further than ever under the new management.
- The model provides investors and entrepreneurs a perfect context for mutual fit assessment and alignment of incentives, that results in (1) respecting the Entrepreneurs need to operate with certain freedom on the day-to-day, (2) providing entrepreneurs the possibility to earn equity for up to 30% of the Company and (3) providing substantial returns for investors with moderate risk.
WHO WE ARE
We are an experienced team of investors and operators
We get actively involved in all stages of the process to best utilize our experience and the potential of our network for the benefit of our Companies, Entrepreneurs and peer Investors.
Investment Team
Franc Gómez-Landero
Paz Ambrosy
Michel Welters
personal TRACK RECORD IN management buyouts
We did our own management buyouts before investing in others
We executed 2 management buyouts ourselves in traditional, non search fund formats. We have experienced the M&A roller-coaster, dealt with challenges in operational performance and managed exit.
company values
Small-cap investments with the highest private equity standards
We invest a disproportionate amount of time and effort in each deal, and get compensated with the extra returns that come with investing our own capital.
Rigor
We invest with discipline and attention to detail regardless of the deal size.
Transparency
We pride to act in a clear, pre-announced mannerand make eforceable commitments to our investor and business owners in the long-term.
Alignment
We co-invest with our limited partners in all assets and investment vehicles.
Independence
We do not compete with our advisory clients and/or our search fund entrepreneurs, and reject any engagement that can potentially limit our freedom of thought and action.
Results-orientation
We focus on exceptional opportunities with significant return potential and moderate risk.
Compliance
We play by the rules and adhere to the highest standards with regards to financial auditing, tax compliance and KYC/AML regulations.
Advisory Board
Non-Executive
Franc Gómez-Landero
Managing Partner
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Founding Partner of ITACA. 18 years of experience in Strategy and Corporate Development for PE-backed companies of all sizes.
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M&A, PMI & Market Strategy in Transportation and Logistics, Utilities, Renewable Energy and Healthcare. International profile with experience in Europe, Latin America and Africa.
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Prior to founding Itaca, Franc was a Partner at Antuko, a leading investments and advisory firm in the Latin American renewable energy space, Advised 20+ projects worth $2Bn; and was instrumental in Bain Capital’s build-up of Verisure - Securitas Direct in Latin America.
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Permanent involvement in MBI projects, value-creation and SME Transformation engagements.
Franc Gómez-Landero
Managing Partner
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Founding Partner of ITACA. 18 years of experience in Strategy and Corporate Development for PE-backed companies of all sizes.
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M&A, PMI & Market Strategy in Transportation and Logistics, Utilities, Renewable Energy and Healthcare. International profile with experience in Europe, Latin America and Africa.
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Prior to founding Itaca, Franc was a Partner at Antuko, a leading investments and advisory firm in the Latin American renewable energy space, Advised 20+ projects worth $2Bn; and was instrumental in Bain Capital’s build-up of Verisure - Securitas Direct in Latin America.
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Permanent involvement in MBI projects, value-creation and SME Transformation engagements.
Paz Ambrosy
Venture Partner
- Founder of Cuantia Capital, an 18y-old EU advisory firm focused in Private Placement of funds of Private Equity, Venture Capital and Agrobusiness.
- Paz is a key advisor for institutional clients such as Rothschild and Gamesa and has a strong track record working for funds in France, Spain, UK and Chile.
- Paz is also a Partner at Quadra Capital Partners, an Advisor at Lombard Odier Investment Managers (CAN). Previously, she he held senior Investor Relations roles at N+1 / Dinamia (now Alantra).
- Paz has permanent involvement in direct M&A deals, Secondary-market transactions of PE Assets and shares.
Michel Welters
Operating Partner
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25 years of experience in executive roles including 11 years as CEO of a company bought via MBI.
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Michel executed a 6-year build-up in France for a listed multinational Building Materials company, where he integrated and managed 18 companies (EV @ 300m).
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After this experience, Michel acquired a company via MBI, executed another build-up, expanded internationally and exited successfully 10 years later.
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With core expertise in M&A-driven build-ups, Michel is the go-to partner for searchers regarding Post Merger Integration, Talent Development and Internationalisation prior to exit.
Jorge Ross
Investment Director
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With 7 years of experience in Banco de Chile (Citi Bank), Jorge has been involved in different areas, going from trading FX, derivatives and fixed income, to become a financial advisor.
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While coursing his MBA at IE Business School, Jorge supported a Chilean financial firm, focused on alternative investments, with the planning, fundraising, and execution of several projects.
- Jorge has experience in starting and growing a successful business that provide services to the event & catering industry. He also led, alongside his investors, the purchase of a car-sharing company.
Nikolai Tsvetkov
Portfolio Manager
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Investment professional and strategy consultant with 6 years of experience in investment management in real estate, private equity and venture capital. Nikolai worked for such companies as AI Global and Santander, as well as participated in various international strategy projects.
Franc Gómez-Landero
Search Phase Investments
Acquisition Experience
Paz Ambrosy
Search Phase Investments
Portfolio
- Board member in two companies
Michel Welters
Search Phase Investments
Portfolio
- Board member in both companies