Acquisition History / Search Funds / 2025

Search Fund Acquisitions in 2025

38 publicly known companies acquired by search funds in 2025.

  1. 1AlpinEnergieacquired by ASPEON Partners · B2B energy brokerage and solar · AustriaAcquired by ASPEON Partners (Anton Stockert-Seilern and Stephan Poell). Backed by Forti Search Fund Partners, Istria Capital, Moonbase Capital. Source: https://searchfundsnews.com/aspeon-partners-acquires-leading-austrian-b2b-energy-brokerage-alpinenergie/2025a total EV slightly above 5x 2024A EBITDA
  2. 2Apoplex Medical Technologies GmbHacquired by Inderwies Unternehmensnachfolge · MedTech SaaS · GermanyAcquired by Inderwies Unternehmensnachfolge. Backed by Alexander Kirn, Alza Capital Partners, Ambit Partners, Istria Capital, Juergen Rilling, Nico Gormsen, Relay Investments, Simon Webster, Thomas Buehler, William Thorndike. Source: https://searchfundsnews.com/third-german-sf-acquisition-in-2025-underscores-continued-focus-on-software/2025$19.1M
  3. 3Eventus Security Ltdacquired by 720 Fund · Cybersecurity services · IndiaAcquired by 720 Fund. Backed by Ambit Partners, Cerralvo Capital, Relay Investment, TTCER Partners, BK Growth, Brown Robin Partners, Granite Point Partners, Luka Salamunic, Manvendra Saxena. Source: https://searchfundsnews.com/720-fund-closes-the-first-sf-acquisition-in-india/2025Not disclosed
  4. 4Extended Poweracquired by Decus Capital · Temporary power and generator services · United StatesAcquired by Decus Capital (Marc Decoste, Novastone Capital Advisors). Backed by Dellin Investments, Iberia NCA NF I, Novastone Capital Advisors. Source: https://searchfundsnews.com/decus-capital-nca-entrepreneur-marc-decoste-acquires-extended-power-in-the-usa/2025Undisclosed
  5. 5Gallagher Bros Constructionacquired by Three Ridges Capital · Roofing and exteriors contracting · United StatesAcquired by Three Ridges Capital (Jake Burt and Curtis Rother). Backed by Coats Capital, Colton Capital Partners, Grosse Pointe Search Capital, Hadley Family Capital, Heritage Holding, Integral Private Wealth Advisors, JB46, MER Search Capital, Parkland Group, Reframe Capital, Shad Collective, Sleyster Family Capital, The Cromwell Harbor, Ventura Search Capital. Source: https://searchfundsnews.com/three-ridges-capital-acquires-gallagher-bros-construction/2025The EV was approximately $10-12M
  6. 6Gateway Arch Co., Ltd.acquired by Japan Bullseye Capital · Jigsaw puzzles, trading cards and art-related products manufacturing · JapanAcquired by Japan Bullseye Capital. Backed by AIJ Holdings, Capital Tree, Japan Private Equity Co., M2O Search, Scipio Holding, Inclusion Japan. Source: https://searchfundsnews.com/first-duo-sf-japan-bullseye-capital-acquires-gateway-arch/2025Undisclosed
  7. 7Grupo Fireacquired by Iberian Ventures · Fire protection services · SpainSpanish fire-protection conglomerate (extinguishers, hose equipment, installation and regulatory maintenance), 35+ years Backed by Itaca Capital Partners. Itaca lists 'Consolidating the fire protection industry' Led by Iberian Ventures, linking to fire.es (Grupo Fire). Source: https://itaca.capital/companies/2025Undisclosed
  8. 8GSE Composystem and Setrosonacquired by Phoenix Rise Capital; Orion Capital · Aerospace and defence ground support equipment · SpainAcquired by Phoenix Aerospace (Phoenix Rise Capital and Orion Capital). Backed by Atiud Capital, Barrilero Legal Angels, Beka Finance, Cabiedes Inversiones, Enrique Locutura, Eugenio Rodriguez, Knudsen family, Leon Bartolome, ONEtoONE Asset Management, Secways. Source: https://searchfundsnews.com/trio-of-searchers-at-phoenix-aerospace-acquires-2-spanish-aerospace-companies/2025$16.8M
  9. 9Gutmaracquired by Lauria Partners · Aerospace and defence precision engineering · SpainAcquired by Lauria Partners (Miguel Camino and Alvaro Horstmann). Backed by Hyperion. Source: https://searchfundsnews.com/lauria-partners-the-aerospace-defense-focused-sf-acquires-gutmar/2025Undisclosed
  10. 10H. Mears (Furnishers) Ltdacquired by All Interests Aligned · Flooring retail and installation · United KingdomAcquired by All Interests Aligned (AIA) with operator Philip Cefai. Source: https://searchfundsnews.com/aia-completes-its-first-deal-with-the-acquisition-of-h-mears-furnishers-ltd-in-the-uk/2025Undisclosed
  11. 11Hermex Ibericaacquired by QUO Capital Partners (Quo Inversion) · School furniture / equipment · SpainFurniture and educational equipment for classrooms and playgrounds Backed by Promax Capital Investments. Registry (empresia.es/empresa/hermex-iberica/) shows Canellas and Feliu de la Penya appointed joint directors on 14 Nov 2025. Source: https://www.promaxcapitalinvestments.com/search-funds-variable2025Undisclosed
  12. 12Hermex Ibéricaacquired by Quo Inversión · School furniture · SpainCatalan school furniture and educational equipment maker/distributor; EUR11.5M revenue, EUR1.4M EBITDA (2023) Backed by Alza Capital Partners, Cerralvo Capital, Going Investment, Istria Capital, JB46, Turtle Capital, Vonzeo Capital, Gernot Eisinger, Thomas Büehler, Luis Camilleri, Marc Bartomeus, José María Clotet. Source: https://searchfundsnews.com/duo-sf-quo-inversion-acquires-a-spanish-sme-in-the-school-furniture-and-equipment-sector/2025Undisclosed
  13. 13Hincado Directoacquired by Nutria Capital · Renewable-energy construction · SpainBadajoz pile-driving contractor for photovoltaic plants; EUR1.5M revenue, EUR0.9M EBITDA (2024) Source: https://searchfundsnews.com/nutria-capital-acquires-spanish-hincado-directo/2025Undisclosed
  14. 14Hispania Educación y Comunicaciónacquired by Relevian · Education · SpainValencia Spanish-language school for international students; ~EUR5M sales, ~EUR2M EBITDA Backed by Alza Capital, Atiud Capital Center, Aurica Search Fund, Aurica Search Fund (Aurica Capital), Evolutiq, George Jankovic, Heritage Search Partners, Kinderhook Partners, Martell Capital Partners. Source: https://searchfundsnews.com/relevian-acquires-spanish-language-school-hispania/2025Undisclosed
  15. 15ICEAacquired by Lynx Trail Capital · SEO/SEM digital marketing agency · PolandAcquired by Lynx Trail Capital (Michal Lukasz Kaminski and Constantin Marek). Backed by Amarant Capital Family Office, Claus von Loeper, Constance Gachowski, Edge Partners, Hanan Hallal, Heritage Holding, Joern Schmidt-Staade, Legacy Partners, Marek Dietl, Matthew Liebers, Michal Lapkowski. Source: https://searchfundsnews.com/lynx-trail-capital-acquires-100-of-polish-icea/2025Undisclosed
  16. 16Inspecs Group plcacquired by Luke Johnson and Ian Livingstone consortium (Bidco 1125 Limited) · Eyewear design and manufacturing · United KingdomAcquired by Luke Johnson and Ian Livingstone consortium (Bidco 1125 Limited). Source: https://www.investegate.co.uk/announcement/rns/inspecs-group--spec/recommended-acquisition-of-inspecs-group-plc/92881392025$115.3M
  17. 17Itegra Gestionaacquired by Enlace Capital · Insurance services · SpainValencia sports-insurance TPA / digital claims platform serving ~400,000 federation members Backed by Grupo Santa Marta. Source: https://www.grupoaseguranza.com/noticias-de-seguros/enlace-capital-adquiere-gestora-seguros-deportivos-itegra2025Undisclosed
  18. 18KKD GmbHacquired by Konkordia Unternehmensnachfolge · Fleet management and vehicle services · GermanyAcquired by Konkordia Unternehmensnachfolge. Backed by Istria Capital, Alza Capital Partners, Lineage, Forti Search Fund Partners. Source: https://searchfundsnews.com/konkordia-takes-over-german-kkd-gmbh/2025Target revenue exceeds €20M; deal price not disclosed
  19. 19La Salaacquired by Anval Capital · Agriculture · SpainGrafted horticultural plants producer (agro) Backed by Moonbase Capital, ONEtoONE Asset Management, Turtle Capital, Secways, Itaca Capital Partners. Source: https://searchfundsnews.com/miguel-angel-anton-co-founder-of-anval-and-co-ceo-of-la-sala/2025Undisclosed
  20. 20Let's Healthacquired by Acacia Capital · Healthcare marketing · SpainHealthcare marketing and communication agency for pharma (founded 2007) Backed by Alza Capital, Beka Finance, Cabiedes Inversiones, Enrique Locutura, Istria Capital, JB46, Jan Woitschatzke, Jürgen Rilling, León Bartolomé, Luis Camilleri. Source: https://searchfundsnews.com/acacia-capital-completed-the-acquisition-of-lets-health/2025Undisclosed
  21. 21Manufacturas Deportivasacquired by Albor Capital · Playground equipment · SpainCantabria playground, urban-furniture and sports-equipment maker; EUR6.8M revenue, EUR2.3M EBITDA (2023) Backed by Atiud Capital Center, Beka Alpha Search Funds, Beka Finance, Cabiedes Inversiones, David Urteaga (Urtelar Holding Empresarial). Source: https://searchfundsnews.com/albor-capital-closes-the-buyout-of-spanish-company-manufacturas-deportivas/2025~EUR8M
  22. 22Millenium Site Services and Millenium Propertiesacquired by Maple House Capital · Rail repair and refurbishment services · United KingdomAcquired by Maple House Capital (Innocent Udia). Backed by Richard Turner (Blackstone Advanced Technologies LLC), Wavebridge Capital (Giorgi Pailodze). Source: https://searchfundsnews.com/maple-house-capital-acquires-millenium-site-services-in-the-uk/2025a turnover of GBP15M and a Profit after Tax of GBP2.8M
  23. 23Napolillo Industryacquired by Fitex Capital · Industrial laundry services · ItalyAcquired by Fitex Capital (Daniele Schiavello and Giulio Marini). Backed by Agirax, Cerralvo Capital, Forti Search Fund Partners, Gernot Eisinger, Innesto Partners, Istria Capital, Jan Woitschaetzke, JB46, Juergen Rilling, Kinderhook Partners, Search Fund Capital, SFClub, Vito Giurazza. Source: https://searchfundsnews.com/italian-fitex-capital-acquires-the-industrial-laundry-napolillo-industry/2025Undisclosed
  24. 24Paul Mathew Transport Ltdacquired by Eyal Kaplan (Novastone Capital Advisors operator-led programme) · Specialist transport and warehousing logistics · United KingdomAcquired by Eyal Kaplan (Novastone Capital Advisors operator-led programme). Backed by Novastone Capital Advisors. Source: https://searchfundsnews.com/nca-entrepreneur-eyal-kaplan-acquires-uk-based-paul-mathew-transport-ltd/2025Undisclosed
  25. 25Pentatel Comunicacionesacquired by Sisal Capital · AV integration · SpainAudiovisual integration / IT infrastructure consultancy (clients: Bankinter, Santander, BBVA) Backed by Beka Alpha Search Funds, Cabiesa, LEN Investments, León Bartolomé, Enrique Locutura, Mugello Inversiones, Grupo Santa Marta, Alejandro Rodríguez Carmona. Source: https://searchfundsnews.com/sisal-capital-has-bought-an-sme-specializing-in-audiovisual-integration-in-spain/2025Undisclosed
  26. 26Pharmacom Handels GmbH and Binder Pharmaservices GmbHacquired by Lacus Legacy · Pharmaceutical distribution and data services · AustriaAcquired by Lacus Legacy. Backed by Alza Capital Partners, Ambit Partners, The Cromwell Harbor, Evolutiq, Istria Capital, JB46, Lineage, RP Global, Scipio Swanlaab, TTCER Partners. Source: https://searchfundsnews.com/lacus-legacy-closed-one-of-the-largest-sf-acquisitions-in-europe/2025Undisclosed
  27. 27Plásticos Hernanzacquired by KG Capital · Plastics manufacturing · SpainPlastic injection moulding (reusable HoReCa cups); EUR8.3M revenue, EUR3.6M EBITDA (2023) Backed by Beka Finance, Whitehole. Source: https://searchfundsnews.com/kg-capital-acquires-spanish-sme-plasticos-hernanz/2025<EUR10M
  28. 28Rolfrozacquired by Cedo Capital · Vegetable and fruit processing · PolandAcquired by Cedo Capital (Monika Wincel). Backed by Ambit Partners, Cerralvo Capital, Evolutiq, Innesto Partners, Istria Capital, Search Fund Pioneers, TTCER Partners. Source: https://searchfundsnews.com/cedo-capital-acquires-polish-rolfroz-in-one-of-the-largest-sf-transactions-in-europe/2025Undisclosed
  29. 29Rowleys of Northwichacquired by Mentmore Capital Partners · Commercial vehicle contract hire and fleet management · United KingdomAcquired by Mentmore Capital Partners. Backed by Triplepoint. Source: https://searchfundsnews.com/mentmore-capital-partners-acquires-rowleys-of-northwich/2025£5-10M annual turnover disclosed; deal price not stated
  30. 30SAMU (Soins des Arbres en Milieu Urbain)acquired by Ulam Transmission (Dimitri Novikov) · Tree pruning / arboricultural services · FranceAcquired by Ulam Transmission (Dimitri Novikov). Backed by SFClub, Cabiedes, Legacy Partners, 9T Capital, Peter's Troop, Artos. Source: https://searchfundsnews.com/ulam-transmission-takes-over-french-landscaping-company-samu/2025Not disclosed (target revenue ~€16M, ~20% EBITDA margin)
  31. 31Scottish Everlastingsacquired by Heronshaw Group · Artificial florals and home accessories · United KingdomAcquired by Heronshaw Group. Backed by HSBC (debt financing). Source: https://searchfundsnews.com/heronshaw-group-acquired-scottish-everlastings/2025Undisclosed
  32. 32Semilleros La Sala (Viveros La Sala)acquired by Anval Capital · Agriculture / horticulture · SpainHorticultural nursery producing grafted and vegetable seedlings for professional growers, 30+ years in business Backed by Itaca Capital Partners, Moonbase Capital, ONEtoONE Asset Management (ONEtoONE Great Searchers), Relay Investments. Itaca lists the seedling nursery 'Led by Anval Capital' linking to viveroslasala.com; Moonbase lists 'La Sala' among acquisitions and Anval's founders under ACQUIRED; ONEtoONE names Semilleros La Sala with CEOs Perez del Val & Anton. Relay backed the search phase. Source: https://itaca.capital/companies/2025Undisclosed
  33. 33Stilefacquired by Atlas Partners · Corrugated cardboard packaging · ItalyAcquired by Atlas Partners (Giacomo Maria Garbarino and Stefano Carpano). Backed by Alexander Kirn, Istria Capital, Juergen Rilling, Legacy Partners, Loris Lanzelloti, Marc Bartomeus, Novidam, Paolo Guida, Valmaris Private Investors, Vonzeo Capital. Source: https://searchfundsnews.com/atlas-partners-acquires-an-italian-cardboard-packaging-company/2025turnover of EUR15M in 2024 with a 20% EBITDA
  34. 34Termotur and Airnou (Grup Nextclima)acquired by Terra Firma Capital · HVAC (heating, ventilation, air conditioning) services · SpainAcquired by Marc Giné (Terra Firma Capital). Backed by Istria Capital, ONEtoONE Asset Management, Ethos Partners (now Orca Equity Partners), Beka Finance, Cabiedes Inversiones, Luis Camilleri, Secways, Turtle Capital, Xavier Pladellorens. Source: https://searchfundsnews.com/spanish-searcher-buys-2-companies-in-the-hvac-sector/2025Undisclosed
  35. 35Thillensacquired by Edessa Growth Partners · Armored car and cash logistics · United StatesAcquired by Edessa Growth Partners (Resit Melik). Backed by Alza Capital Partners, Ambit Partners, Blue Frame Capital, Eric Giesecke, Futaleufu Partners, Housatonic Partners, Kirk Riedinger, Liberty Search Ventures, Milk Street Ventures, Rob Cherun, Sidney Sommer, The Cromwell Harbor, TTCER Partners. Source: https://searchfundsnews.com/edessa-growth-partners-acquires-midwest-armored-services-provider-thillens/2025generates $36.2M in annual revenue
  36. 36Visual Counteracquired by Divisadero Capital · People-counting sensors and analytics · SpainAcquired by Divisadero Capital (Fernando Garcia Benavides). Source: https://searchfundsnews.com/divisadero-capital-acquires-spanish-engineering-company-visual-counter/2025Undisclosed
  37. 37Wu Consultingacquired by Bluffs Edge Partners · Business Services · United StatesSpecialized Biostatistics Support for Clinical Services2025Undisclosed
  38. 38Zeker & Mobielacquired by Tasman Succession · Plumbing and drain unblocking services · NetherlandsAcquired by Tasman Succession (Alex Gready and Berend Westerveld). Backed by Ambit Partners, Ethos Partners, JB46, Kinderhook Partners, Novidam, Scipio Holding. Source: https://searchfundsnews.com/tasman-succession-acquires-plumbing-company-in-the-netherlands/2025the transaction is estimated to be valued at under EUR20M