Search Fund Program
GestInvest identifies, acquires and operates established companies. Investors provide the capital.
How the Program Works
The GestInvest Search Fund Program is a two-party business acquisition vehicle: GestInvest acts as searcher and operator — identifying, structuring, acquiring and managing established European mid-market companies — while investors fund the acquisition, holding a majority position with aligned governance.
Unlike the classic search fund model — where investors back an external searcher — there is no third party here: GestInvest is the searcher. Investors invest alongside the party that sources, executes and operates, with interests structurally aligned from day one to exit.
The focus is on established, profitable companies with €500k–€5M EBITDA — frequently in succession situations — acquired at disciplined multiples of 1–2× EBITDA, operationally optimised and sold at 4–6×.
Two-Party Model
GestInvest
- Proprietary target sourcing — direct contact with shareholders
- Valuation, due diligence and acquisition structuring
- Negotiation, financing and transaction closing
- Post-acquisition operational management and value creation
- Preparation and execution of the exit at 4–6× EBITDA
Investors
- Capital for the acquisition — majority equity in the vehicle
- No mandatory operational involvement
- Structured reporting, board seat and governance rights
Program Phases
Search
6–12 monthsProprietary sourcing across the European mid-market: sector screening, direct shareholder contact and preliminary assessment of targets with €500k–€5M EBITDA. Fully funded by GestInvest.
Acquisition
3–6 monthsFull due diligence, valuation, SPA negotiation and financing structure. Disciplined entry at 1–2× EBITDA. Investor capital comes in.
Operation & Value Creation
3–5 yearsActive management by GestInvest: professionalisation, operational optimisation, revenue growth and margin expansion. Quarterly reporting to investors.
Exit
Year 4–7Strategic sale, secondary buyout or sector consolidation at 4–6× EBITDA. Returns realised through multiple expansion, deleveraging and growth.
For the Investor: What You Receive
Investors enter an established, profitable company with a track record — not a startup — acquired at a disciplined multiple and managed by an operator with equity at stake.
Our Services
Proprietary Sourcing
Sector screening, market mapping and direct shareholder contact — no auctions, no intermediaries.
Acquisition Execution
Valuation, due diligence, structuring, financing, SPA negotiation and closing.
Operational Management
GestInvest takes over post-acquisition management: professionalisation, KPIs, margin optimisation and growth.
Governance & Exit
Board constituted with investors, quarterly reporting and disciplined exit preparation at 4–6×.
Remuneration Model
Operator Equity
15–30% equity in the acquisition vehicle as compensation for sourcing, execution and management.
Management Fee
Management fee during the operating phase — covered by the company's cash flow, not by investor capital.
Carried Interest at Exit
Additional share of the upside above a minimum investor return (agreed hurdle rate).
Who We Work With
Private investors, family offices and HNWIs seeking direct exposure to European mid-market acquisitions
Business owners in succession or sale situations seeking a credible, discreet buyer
Investment Parameters
Disclaimer
Investment activities described are not public offerings, not financial promotions and not regulated investment products. Engagement is limited to professional or qualified counterparties, subject to jurisdictional requirements. Past involvement does not imply future performance.