APRIL, 2022 (TORONTO, ONTARIO): Mineola Search Partners (“MSP”) announced today the launch of its inaugural fund, which will be investing in in Search Funds, the entrepreneurs who run them, and the businesses that they acquire. Target companies will operate within the North American lower-middle market, and will generally be seeking new ownership to provide founder liquidity, employee continuity, and to propel the company into its next phase of growth.
“I couldn’t be more excited”, said Steve Divitkos, MSP’s Founder. “At a macro level, small businesses are as important as they are ubiquitous: Companies with fewer than 100 employees represent more than 90% of all businesses within North America, tend to be overlooked by more traditional sources of institutional capital, and will soon change hands at the highest rate in recorded history owing to the retirement of the baby boomer generation of business owners, only 9% of whom have formalized succession plans in place.”
Divitkos continued, “At a micro level, as an Entrepreneur and former CEO myself, I can say with confidence that nobody knows what it’s like to be an entrepreneur or CEO unless you’ve been one. Personally and professionally, we face both challenges and opportunities that few others can relate to. Though many understand the rewards of company leadership, few understand the arduous journey that’s often required to get and stay there. Of all of my new responsibilities as Managing Partner of MSP, I am most excited to work directly with entrepreneurs and CEOs to help improve both their personal and professional lives, largely through sharing my own experiences and lessons learned while occupying the very same seat.”
MSP was advised by Stikeman Elliott LLP in the formation of Fund I.
About Mineola Search Partners
Headquartered in Toronto, Canada, Mineola Search Partners invests in Search Funds, the entrepreneurs who run them, and the businesses that they acquire. To learn more, please visit www.mineolasearchpartners.com.