We support searchers and investors through the whole journey: from setting up the search vehicle to acquiring the target, through post-deal management and exit. Finance, tax, corporate and accounting with a single point of contact, across Italy and in English.
A search fund is a vehicle through which an aspiring entrepreneur, the searcher, raises capital from a group of investors to find, acquire and run a single small or mid-sized company. The model is growing fast in Italy, where many healthy family businesses face succession without an heir.
Each phase has different needs: a lean, compliant vehicle during the search, fast and reliable target analysis, a tax- and finance-efficient acquisition structure, then reporting and governance that meet investor expectations. We cover all of them, so the searcher can focus on the search and on the business.
Incorporation of the search company in Italy, bylaws and shareholders' agreements between searcher and investors, search capital and cap table management, PEC, digital signature and filings.
Bookkeeping and compliance of the vehicle, periodic investor reporting and first financial screening of targets: revenue quality, margins, debt and working capital.
Financial and tax due diligence on the target, including quality of earnings, net financial position and tax risk analysis, coordinated with the other deal advisors.
Acquisition structuring: NewCo, equity and bank debt mix, vendor loan, earn-out and seller rollover, tax optimisation and closing support.
Accounting and financial statements of the acquired company, budgeting and board reporting, governance, statutory audit, payroll and the possible merger of NewCo and target.
Support on add-on acquisitions, periodic valuations of the investment and exit preparation, from vendor due diligence to the tax structuring of the sale.
One partner for vehicle, deal and operations: fewer providers to coordinate, clear timelines and a team that knows the model.
Clear, timely reporting, independent due diligence and corporate structures that protect investors' rights.
Support for owners selling to a search fund: business valuation, offer review, vendor loan and handover.
Finance, tax, corporate, accounting, statutory audit and of-counsel legal support in a single firm.
Our team has worked on transactions exceeding €1 billion in enterprise value, on both buy-side and sell-side.
We work fully remote with Italian and international searchers and investors, with documentation in English.
It is an investment vehicle through which an entrepreneur (the searcher) raises capital from a group of investors to look for a small or mid-sized company to buy. Once a target is found, the same investors have the first option to fund the acquisition; the searcher then becomes CEO and runs the company for several years until exit.
Broadly four: raising search capital, searching for a target, acquiring and running the company, and exit. We are involved in all of them, from vehicle set-up to the final sale.
Typically the searcher incorporates a search company funded by investors. The acquisition is often made through a NewCo financed with equity and debt, which may later merge with the target (merger leveraged buy-out, art. 2501-bis of the Italian Civil Code). The best structure depends on the deal and must also be assessed from a tax perspective.
Yes. We work fully remote and in English, and help international searchers set up and run their vehicle in Italy, including access to the Italian impatriate tax regime where applicable.
Yes: accounting, financial statements, budgeting, investor reporting, governance and statutory audit. It is the simplest way to keep continuity between due diligence and operations.
It depends on the phase and the complexity of the deal. After a free initial call we provide a clear, tailored quote.
Tell us where you are: we will get back to you within 24 business hours to schedule a free initial call.