On Thursday 7 November 2024, Gerald Edelman hosted the second annual Entrepreneurship Through Acquisition (ETA) Awards. Bringing together over 150 people in the search community, the evening celebrated and recognised the extraordinary individuals who are pushing the ETA model forward, providing succession solutions and unlocking value for exiting owners.

In the last 12 months, the team at Gerald Edelman has seen continued growth in the number of traditional search funds in the UK as well as more hold companies and self-funded searchers than ever before. The Corporate Finance team at Gerald Edelman has acted on 13 successful transactions in the ETA space since the last awards event in 2023.

All of those nominated went through a rigorous judging process by the following panel of industry experts: Bramley Johnson, Search Fund Investor, Alex Glasner, a successful searcher who acquired Workpays in 2021 and former winner of the ETA Awards, and Lisa Conmy, Partner at JMW. The winners were announced as follows:

Deal of the Year Self-Funded

Acquisition of Mediline Group Services and Mediline Supported Living – Birch Farady Capital

Community Contribution

Paul Quirk, Buy and Build Podcast

Deal of The Year Traditional – Head to Head

Aquisition of Saepio Solutions Ltd – Aurias

ESG Excellence –  Head to Head

Acquisition of Set-A-Side Storage – Colmers Capital

Lender of the Year

Allica Bank

All of the winners demonstrated a commitment to exceptional leadership, either in identifying promising targets and guiding their teams through negotiations to secure a successful deal or in inspiring and guiding others on their acquisition journeys. They have actively participated in successful deals, sharing their knowledge and expertise to foster a thriving ecosystem of acquisition entrepreneurs. Their dedication to the search community has helped to elevate the field and create opportunities for future generations of searchers.

Carl Lundberg, CEO of Gerald Edelman and Founder of The ETA Awards, commented: “The most enjoyable thing I have done in my career is working with searchers and it is a great pleasure to be a part of the community. Evenings like tonight allow us to recognise the search community and the individuals who have taken bold steps to turn their dreams of business ownership into reality.”

Primary sponsor of the awards was Shawbrook Bank. Award sponsors: Marriott Harrison, Ashtons Legal, BizCrunch, JMW. Entertainment sponsor: Altenburg Advisory. Drinks sponsor: Irwin Mitchell. Media partner: Search Fund News.

About Search Funds

There has been significant growth in the number of new search funds and search fund acquisitions in recent years. In the US and Canada, 94 traditional search funds launched in 2023, which is a record number in a single year and represented a significant increase over previous years (source: Standford Business School: 2024 Search Fund Study). Outside of the US and Canada, the latest available data shows that there were 44 new traditional search funds in 2021 and 23 acquisitions by traditional search funds, both of which were records (IESE Business School – International Search Funds 2022). This trend has continued as more prospective searchers and investors recognise the potential returns and opportunities that search funds can offer.

These investment vehicles allow entrepreneurs to raise capital, acquire an existing business, and then manage and grow it. The surge in search fund activity highlights the UK’s thriving entrepreneurial landscape and business succession opportunities, offering ambitious individuals a unique path to business ownership and value creation through acquisition.