Acquisition History / Search Funds / 2025

Search Fund Acquisitions in 2025

17 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. 3Extended 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
  4. 4Gallagher 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
  5. 5GSE 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
  6. 6Gutmaracquired 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
  7. 7H. 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
  8. 8ICEAacquired 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
  9. 9Millenium 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
  10. 10Napolillo 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
  11. 11Paul 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
  12. 12Pharmacom 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
  13. 13Rolfrozacquired 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
  14. 14Stilefacquired 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
  15. 15Thillensacquired 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
  16. 16Visual 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
  17. 17Zeker & 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