The first search fund spanning Slovenia, Croatia and Serbia — answering the succession question for one founder-led business. An exit opportunity for the retiring owner, growth for the company, and value for investors.
A search fund is a simple idea. A small group of investors backs committed operators to find, acquire and personally run one quality business — typically from a founder approaching retirement. It is an established model (1,000+ funds since 1984) originating in the US, and we are bringing it to the region.
The search model works best where good businesses are plentiful, capable buyers are scarce, and owners need a trusted way out. Across Slovenia, Croatia and Serbia, all three are true at once.
A succession wave. A generation that built their companies in the 1990s is now reaching retirement, and only about one in five owners has a plan for what comes next. Around 3,500 companies across the three markets meet our criteria — enough to search with discipline rather than settle.
A buyers' market. Barely a dozen active private equity funds operate across the region. The mismatch between many owners looking to sell, and a few institutional buyers, keeps entry multiples well below DACH, Polish and Czech levels.
A premium exit. The businesses that do sell, tend to change hands at a premium, to foreign strategic buyers and regional PE. Bridging that gap means buying well, building value, and selling up. This is what we are here to do.
Two principals with complementary skillsets and experience in finance, M&A, management, operations, and post-acquisition integrations.
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A transactional lawyer turned adviser and operator. Since leaving international law firm CMS Reich-Rohrwig Hainz in 2017, Luka has led 20+ M&A, restructuring and transformation mandates for founder-led businesses, and built and exited his own company. He covers the legal, operational and management side of the search.
A private-equity and M&A professional. Samuel has executed mid-market transactions (€10–50M) across Central Europe and worked hands-on inside a US search fund — the model itself. On a deal, he owns sourcing, financial diligence and valuation.
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Profitable, founder-led companies with recurring demand, defensible positions and clear room to professionalise and expand, operating in Slovenia, Croatia and Serbia.
Our thesis →For investors, book a call. For owners considering succession, get in touch — discreet, no obligation.
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