Michael Curry – Krueger-Gilbert Health Pysics

Interview with Michael Curry of Krueger-Gilbert Health Physics and Seneca Creek Partners

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Basic info:

  • Fund: Seneca Creek Partners
  • Search type: Classic search fund
  • Partnered/solo: Partnered
  • Stage: Operating
  • Location: Baltimore, MD
  • Alma mater(s): Chicago Booth (MBA), Emory (BA)

SUMMARY

Michael Curry and his business partner are three years into operation of Krueger-Gilbert Health Physics, Inc, a provider of radiology equipment testing services to medical centers in the Mid-Atlantic region. He’s a Chicago Booth grad who entered business school with a background in banking and entrepreneurship and spent 9 months searching under the name Seneca Creek Partners.

Highlights of Michael’s interview include:

  • Using business school to support one’s search fund ambitions
  • Why fast growing companies are a good fit for some searchers and not for others
  • How to measure the performance of an ongoing search process
  • How to get the info you need from an owner without scaring him off during initial discussions
  • Why the healthcare industry can be a great fit for a search fund
  • Why it can be hard to grow a geography-specific business
  • Why it’s important for a searcher to “manage himself out of a job”

Continue reading “Michael Curry – Krueger-Gilbert Health Pysics”

Matt Estep – Bosworth Capital Partners – Midwest Supplies

Basic info:

  • Fund: Bosworth Capital Partners
  • Search type: Classic search fund
  • Partnered/solo: Partnered (independent partners)
  • Stage: Exited
  • Location: Chicago, IL
  • Alma mater: Harvard (MBA), Purdue (BS)

SUMMARY

Matt Estep describes his acquisition and operation of Midwest Supplies – a seller of home brew beer products. Highlights include:

  • How to use business school to extend a search “runway”
  • How certain behaviors can waste searchers’ time
  • What stood out about Midwest Supplies when Matt first visited the company
  • Why it’s a good idea to primarily use brokers during a search
  • Life after search as a PE investor

Continue reading “Matt Estep – Bosworth Capital Partners – Midwest Supplies”

Erick Lesaca & Giovanni Barbat – New Orchard Capital

Interview with Erick Lesaca and Giovanni Barbat of New Orchard Capital

Basic info:

  • Fund: New Orchard Capital
  • Search type: Classic search fund
  • Partnered/solo: Partnered
  • Stage: Search
  • Location: Chicago, IL
  • Alma mater:
    • Erick: Chicago Booth (MBA), Northwestern University (MS), University of Miami (BS)
    • Giovanni: Chicago Booth (MBA), Michigan State (BA)

SUMMARY

Erick Lesaca and Giovanni Barbat are three days into their search at Chicago-based, classic search fund New Orchard Capital. The pair met at Booth’s part-time MBA program and have complimentary skill sets in operations and finance.

Highlights of this interview include:

  • How they fundraised successfully
  • What makes a complete investor syndicate
  • The costs of raising funds and setting up a fund

Continue reading “Erick Lesaca & Giovanni Barbat – New Orchard Capital”

Matthew Taylor – Gypsum Ridge Capital

Matthew Taylor of Gypsum Ridge Capital

Basic info:

  • Fund: Gypsum Ridge Capital
  • Search type: Classic search fund
  • Partnered/solo: Partnered
  • Stage: Search
  • Location: Chicago, IL
  • Alma mater: Chicago Booth (MBA), SMU (MS), Indiana University (BA)

SUMMARY

Matthew Taylor and his business partner are a year into their search at Chicago-based, classic search fund Gypsum Ridge Capital. Matthew’s a Chicago Booth grad with a predominantly military background who learned of search funds during his brief stint in private equity.

Highlights of Matthew’s interview include:

  • The importance of cohesion in LP resources and expectations
  • Off-the-beaten-path sources of acquisition targets
  • The virtues of recurring v. repeat revenue businesses

Continue reading “Matthew Taylor – Gypsum Ridge Capital”