Hello from Milan: built-to-last, a permanent holding for Italian SMEs
Hello Searchfunder community, I'm Francesco, based in Milan. I'm cofounder of built-to-last, a permanent holding company that acquires Italian family-owned SMEs facing generational transition. Rather than a classic search fund with an exit horizon, we aim to be the long-term owner: preserve the business, then build on it with a dedicated CEO / operating partner. Two things I'd love to learn from this community: 1. How have permanent-capital or "buy-and-hold" searchers structured their investor base, compared to traditional search fund investors? 2. Has anyone sourced and closed deals in Southern Europe, especially in Italy? What worked in reaching founders who don't use brokers? Happy to share what we learn on the Italian market in return. Thanks!