Ep 10: Rob LeBlanc [Ambit Partners] - Backing Maverick Searchers in New Markets
Release Date: 11/01/2021
Ep 100: How a Texas Blizzard Sparked Conviction in a Niche UK Water Logistics Deal (Adam Johnson, CEO of Water Direct)
Buy and Build
In this landmark 100th episode, we’re joined by Adam Johnson, an American acquisition entrepreneur who transitioned from the startup scene in California to acquiring and operating Water Direct in the UK. Adam takes us through his unique journey into the search fund world, how a Texas blizzard sparked conviction in a niche UK water logistics business, and the realities of running a highly operational, regulation-heavy company. We dive into: The challenges of a COVID-era search process Navigating investor skepticism for a volatile but essential service Building a new leadership team...
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Ep 99: The CEO Roundtable with Will Hunnam (Forza Doors) and Carl Lundberg (Gerald Edelman)
Buy and Build
What does it take to step into the CEO seat—whether by acquisition or promotion? In this special episode, Will Hunnam (Forza Doors) and Carl Lundberg (Gerald Edelman) return to share their personal leadership journeys, challenges of managing legacy teams, and how implementing the Entrepreneurial Operating System (EOS) transformed their approach to strategy and culture. We explore: The reality of becoming a first-time CEO Lessons from inheriting vs. building company culture How EOS creates clarity and drives accountability The hard conversations leaders must face Whether you’re...
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Ep: 98 - Navigating Total Addressable Market (TAM) with £100M Operator and Investor Matthias Knaur
Buy and Build
In this episode, we sit down with Matthias Knaur—operator, investor, and seasoned voice in the European search fund and ETA community—to explore the real levers behind scaling small companies. From a billion-dollar transformation at listed company Solera, to hands-on leadership in niche B2B services. Matthias Knaur—who’s led his own acquisitions to over £100M in revenue and invested across Europe’s search fund landscape—shares his deep experience on identifying, expanding, and leveraging total addressable markets. We dive into lessons from his billion-dollar corporate roles,...
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EP 97: The Private Equity-Backed Journey to €200M: Brian Honan’s Fortus Playbook
Buy and Build
In today’s episode of Buy and Build, we dive deep into the incredible entrepreneurial journey of Brian Honan, founder and CEO of Fortus. Brian walks us through how he went from an "accidental entrepreneur" to leading a €200M turnover security distribution business across Europe. We explore his early days in business, executing a debt-funded MBO, partnering with private equity, building a recurring revenue engine, and navigating the challenges of integrating acquisitions. Brian also shares lessons learned on managing growth, staying passionate, and planning the next phase of Fortus' journey...
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Ep 96: In the Trenches- 7 Months Into Operating a £1M+ EBITDA SME (Fouzan Ali, MD of Combined Services)
Buy and Build
The next acquisition accelerator is going to be in London in June (date TBC). Book your spot now for a discounted rate. If you cannot make that date, you can roll your spot into the next cohort. Join here: ------------- In this episode, we reconnect with Fouzan, seven months into owning and operating the 32-year-old building energy management systems business he acquired. After initially stepping into the role with humility and patience, Fouzan shares how he’s approached leadership, structured his team, and gradually introduced change—from hiring apprentices and outsourcing non-core...
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Ep 95: American Searcher (and Stand-up Comic) Embarks on a Traditional UK Search Fund – Allison Stuckless, Vericor Capital
Buy and Build
In this episode, we speak with Allie Stuckless, a great friend and former JPMorgan colleague, about her transition from banking to launching a UK-based search fund. Allie has a fascinating background and has taken a unique path into the search/ETA world. During the episode, we discuss the challenges of fundraising, her passion for lifecycle services (including the funeral industry), and the lessons she's learned along the way. Allie shares insights on navigating the UK search fund ecosystem, the key differences between US and European search models, and the importance of finding the...
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Ep 94: From Startup Struggles to £5 Billion Exit: Jeremy Middleton’s Entrepreneurial Journey
Buy and Build
In this episode of Buy & Build, we sit down with Jeremy Middleton, co-founder of HomeServe, who later exited and is now CEO of Middleton Enterprises, his family investment office. We dive into his journey from corporate life at Procter & Gamble to building a FTSE 100 business and leading it to a £5 billion exit. Jeremy shares the pivotal moments that shaped his career, including the hard lessons of early entrepreneurship, how he and his co-founder pivoted a failing business into a national success, and his contrarian take on acquisitions. Now, as an investor, he reveals what he...
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Ep 93: From Intern to “Interns as a Service”: Daniel Ewart’s Journey from Search Fund Intern to Entrepreneur
Buy and Build
In this episode, we’re joined by Daniel Ewart, one of the youngest guests to date, who shares his unexpected entry into the search fund world. From his hands-on experience as an intern supporting proprietary outreach to launching an "interns as a service" business, Daniel offers a fresh perspective on deal sourcing and scaling support for searchers. Learn about the challenges of cold calling, the intricacies of sifting through data, and the unique approach Daniel is taking to help others in the search fund space. A must-listen for aspiring entrepreneurs and searchers alike! ----- We would...
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Ep 92 - Scaling with EOS: Lessons in Leadership, Vision, and Growth with Rob Liddiard
Buy and Build
In this episode of the Buy and Build podcast, Paul and Rob Liddiard (Paul's EOS implementer), have a fascinating discussion on the Entrepreneurial Operating System (EOS) and its implementation within Paul's business Amber Home Improvements. Host Paul and Rob explore the practicalities of scaling a business while remaining true to its core values, operational challenges, and long-term vision. Paul shares candid insights from his quarterly check-ins, touching on the impact of aligning teams with core values, navigating leadership challenges, and the benefits of right-person-right-seat decisions....
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Ep 91 - From Sports Coach to Acquisition Pro: Craig Brennan’s Playbook for Scaling Through Acquisition
Buy and Build
To register for the practical IDS session with Rob Liddiard (Paul's EOS implementer), follow this link: --- Also, we still have 3 seats available for the early access, discounted price, for the next Buy and Build Accelerator. Grab your ticket now at: - In this engaging episode of Buy and Build, Paul welcomes back Craig Brennan, a seasoned expert in buying and building multi-business groups. Craig shares insights from his extensive journey, growing his companies through both organic growth and acquisitions across diverse sectors. With his origins in community...
info_outlineThis week we speak with Rob LeBlanc of Ambit Partners. This excellent conversation covers the characteristics of "maverick" searchers pioneering new markets, the investment thesis of Ambit's first fund, and what investors can expect from this very attractive, uncorrelated asset class.
Ambit Partners recently announced the $16m initial close of their inaugural fund, targeting $36m, and are are looking to back ±60 search funds over the next couple of years.