DOES ANYONE HAVE EXPERIENCE FINDING A 2ND SEARCHER TO JOIN THEM?
I am currently attending a professional (read: working) MBA program at SMU in Dallas, and plan to begin raising capital for my traditional national search within the next 90 days (have PPM completed, LLC, website, etc.). I chose to do the PMBA program so that I could gain work experience outside of my 13 years in the military. I also chose to forgo some really good job offers at large banks and consulting firms to gain hands-on experience working in a business similar to one I would consider buying. That in and of itself was a micro search, as I had to find businesses that would meet my purchase requirements (revenue, EBIDTA margins, number of employees, etc) Over the course of two years, I found two such businesses that I convinced to give me middle management roles, as a Project Manager (construction) for first one, and now an Operations Manager (home improvement/service) for another. I figured this would be much more applicable business experience for running a company post-acquisition.
I will be the third in a line of my former military colleagues to take on a search fund, and all three have successfully acquired companies, with one already exiting. There seems to be a very high success rate among former military, MBA types, specifically those from Special Operations or Aviation backgrounds ( I fall into the former).
That being said, I have not found anyone during my MBA program that I would partner with for a search that is interested in pursuing that path. This is the downside of a working MBA program, as there just isn't enough time for networking and really getting to know your classmates.
Having spoken with a ton of former searchers, outside of just my military friends, they all say that they either A.) could not imagine having done the national search as a solo searcher, or B.) they did a solo search, and if they ever did it again they would 100% find a partner (for not only the search, but to have more freedom and work/life balance as the operators of the business).
Does anyone have experience "posting an ad", for lack of better words, to find a partner for their search. I am assuming that this would be one of the best places for that type of post, if if did exist, so I was curious to see the responses. I am referring to a partner to physically run the search with you and then operate the business with you post-acquisition. Just wanted to clarify that last part after some confusion in regards to what I am looking for when I say "Search Partner".