S2 Ep2: M&A Zing (S2EP1) - Inside Novastone Capital's Operator-Led Search: with Robin Goldhagen

The M&A Zing

In this special episode recorded live from the Serial Acquirer Symposium in London, we’re joined by Robin Goldhagen, Assistant Vice President of Investor Relations at Novastone Capital Advisors (NCA). Robin shares fascinating insights into the unique "Operator-Led Search" model pioneered by NCA, how they identify and support mid-career professionals transitioning into entrepreneurship through acquisition, and the evolving investor landscape in Europe's SMB M&A market.
You'll hear Robin’s perspective on educating European investors about the search fund asset class, the nuances of attracting local investors to individual transactions, and how NCA’s distinctive support structure enables searchers to thrive. Whether you're an aspiring searcher, a seasoned investor, or simply intrigued by the future of European entrepreneurship through acquisition, this episode provides valuable insights and forward-looking perspectives on the SMB acquisition ecosystem.
Timestamps:
[00:00] Intro from the Serial Acquirer Symposium & Guest Intro (Robin Goldhagen)
[00:40] Robin’s professional journey into investor relations & search funds
[02:14] Educating European investors about search funds & market maturity comparison (US vs EU)
[04:04] Geographic variations in investor awareness across Europe
[05:22] Novastone’s unique "Operator-Led Search" model overview
[08:08] Differences between Novastone’s model and traditional search funds
[11:01] How Novastone supports their acquisition entrepreneurs in deal sourcing
[12:00] The role brokers play in managing seller expectations in SMB M&A
[15:08] What Novastone looks for in successful acquisition entrepreneurs (searchers)
[17:01] Valuation differences and other market distinctions: US vs EU
[18:23] Future predictions for European SMB M&A and ETA market growth
[20:17] Closing remarks & how to connect with Novastone
We want your insights!
Do you see the European search fund market maturing rapidly? What are your thoughts on Novastone’s "Operator-Led Search" model?
Explore Novastone Capital Advisors:
https://novastone-ca.com/
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https://www.linkedin.com/company/bizcrunch/
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https://www.bizcrunch.co/community
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