Did my first site visit yesterday. Flew in to meet the seller. One aged 64 the other 54. No sucession. Got a good feeling of the biz. We sat there for 3h after they showed me around trading experiences due to our similar background. I think I have an idea of a valuation that could work but I'm super early on in my search process. Trying to get some DD quotes asap and Tier 2 in Portugal got me squat after 2 weeks of the first meeting with their partners. Can someone do a roll up on auditing firms? aha Many doubts float on my head now. I keep pushing numbers into the LBO model since the company is a 26M revenue, 2M ebitda with 6.2M debt so the playbook would be to acquire with equity and do an earn out (I think the revenue can grow 6% but in the CIM they have 12% so I'm happy to share if there an upside). Some questions come to mind: - Do you discount all the debt in the Offering? Half of their debt is short term and half long term; - How do you factor assets? In Europe its common to do stock purchase only. The assets are core to the operation (shopfloors, warehouses, etc) and I'm guessing they are already included in the EBITDA number. On the personal side I'm going to have my firstborn in Feb so assuming this goes forth and all goes well how "intense" would it be to have a weeks old and starting a new job. Anyone passed this? Not worried about me delivering but I'm more worried if i have to stay out of our home for 4/5 days straight and how this would impact the home balance.

Hi all, I’ve been following Kevin Hong for some time since the topic regarding searcher CEO termination and his particular situation seemed relevant. He often highlights employment termination clauses missing and Searcher’s getting Pennie’s for their shares. Anyone care to share their view and also which investors have repeatedly done this ?

Hi all! +16y of exp in Technology with several of them in executive leadership roles (including Global VP at Siemens and CIO of a multinational Caterpillar dealer). Lived in Lisbon, Munich, London, Cairo and now back to Lisbon. Launched MMP Capital, a traditional search fund, in May 2025 after learning about ETA during my Executive MBA in Cambridge and decided to do it full-time. I will be focused on acquiring in Portugal and I’m currently finalizing my fundraising (already at 90% wish me Luck!!) with plans to start searching in Jan 2026. Want to learn all I can from you, experts, on what works and how can I implement all processes so I can start Jan 2026 with a speedy start !

I know we're all using social media in some way, shape, or form. So let's use this thread as an opportunity to add each other. Goals: to improve everyone's engagement, to share ideas, to build closer business/personal relationships, and to stay in touch outside of just Searcher School. I'll go first—will happily add/follow you on any of the following platforms 👋🏻 - LinkedIn - YouTube - Instagram - Facebook Looking forward to connecting! 🙏🏼