Traditional Search Is a Win-Win: $67M Exit in Four Years | Greg Geronemus Interview

Greg Geronemus is the Co-Founder and Managing Partner of Footbridge Partners, one of the leading investors in Entrepreneurship Through Acquisition (ETA). Before launching Footbridge, Greg and his partner David acquired a business generating approximately $5 million of EBITDA, paid down most of its $20 million debt load, grew EBITDA by roughly 50%, and ultimately exited at around 9x EBITDA—roughly four turns higher than their entry multiple.

Today, through Footbridge, Greg backs the next generation of search fund entrepreneurs and acquisition leaders across North America.

We discuss the rise of self-funded search, committed capital vehicles, why buying businesses has become more competitive, the real economics behind different search models, and the mindset required to survive a process that often takes years.

Timestamps:
0:00 Greg's acquisition story and introduction to ETA
1:03 How search funds have changed since 2010
6:40 Raising equity and debt when almost nobody understood search
10:40 Is buying businesses actually harder today?
17:30 The Harvard ETA course that changed the industry
24:42 The mindset required to survive a two-year search
27:16 Traditional search vs. self-funded search explained
35:33 The biggest misconception about ownership and wealth
40:22 Why committed capital vehicles are exploding
48:38 What Greg looks for when backing acquisition entrepreneurs
50:24 If you had $500k today—which path would you choose?
53:08 Greg's advice for future searchers

This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.