What separates search funds from PE giants - and how can searchers win in succession deals? 

We sat down with Dr. Thomas Buehler of Valmaris Private Investors, a 37-year PE veteran who co-founded Afinum Management, raised €1.8 billion across seven funds, completed 100+ acquisitions, and invested in 95 search funds. Now channeling his expertise into dedicated ETA backing, Thomas shares battle-tested insights from screening 5,000 targets to close 300 deals. 

What makes this episode essential listening: a PE insider's view on ETA edges like instant CEO succession, avoiding emotional deal traps, and his own successful firm handover at 60. 
  
In this episode, expect to take away knowledge of: 

  • The keys to acquisition success: growth companies, real sellers, and keeping alternatives alive (never 100% on one deal) 


  • Searcher advantages over PE: quick exits, small caps (€10-20M EV), and daily CEO commitment 


  • Valmaris' model: flexible investing in people with entrepreneurial spirit, full-journey support from cap tables to exits 


  • Investor advice: short PPMs, talk to searchers/investors, prioritize fit for the 7-10 year journey 


  • ETA's future: less cyclical succession wave, quality focus amid froth 

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