An entrepreneur-led acquisition
Your company, carried forward for the long term.
Gaman Succession is an entrepreneurial, operator-led project, not a traditional investment fund. Its founder, Cecilia Lopez, will acquire one profitable B2B technology company in Western Europe, step in as its CEO, relocating to where the company is based, and lead it for the long term, together with the team that built it.
Gaman (我慢) is the Japanese idea of patience and endurance. It is how we intend to own your company.
- 1
- company, one full-time CEO
- 20+
- year ownership horizon
- 17
- investors, entrepreneurs and technology operators backing the project
- 70%
- of the capital raised from institutional investors
Our approach
One entrepreneur, one company, full commitment
Gaman Succession combines the strategic rigour of private equity with the long-term commitment and hands-on leadership of an owner who runs the business. Our structure follows the search fund model, well established in the United States and growing in Europe: experienced investors back one entrepreneur to acquire and personally lead one company. There is no portfolio and no fixed exit date: Cecilia will dedicate herself full time to one company, as its chief executive.
Learn more about the model: Stanford GSB · IESE Business School
On the ground
Cecilia will relocate to where your company is based and lead it from there, close to your team and your clients.
Building on your legacy
We grow what you built, together with your existing team, and protect the name, culture and relationships behind it.
A transition on your terms
The ability to stay involved for as long as you wish, in the role you choose, and to keep a stake in the company’s future growth, or to hand over gradually, at a pace agreed together.
Our ambition
From a leader at home to a reference across Europe
We look for companies that have earned a leading position in their home market. Our ambition is to build on that foundation and make the company a reference in its field across Europe, while preserving its independence, brand and client relationships.
Strengthen the product with AI
Keep investing in the product and data, and use AI to make it more valuable to clients and the company’s own operations more efficient.
Broaden the offer
Develop adjacent products and services for existing clients, building on the trust the company has already earned.
Grow across Europe
Open new European markets, organically and through targeted acquisitions of complementary companies, giving their owners a succession route too.
The entrepreneur
Cecilia Lopez
Founder, and future CEO of the acquired company
Cecilia has more than a decade of experience investing in and acquiring technology companies across Europe and worldwide, at KKR, Permira and J.P. Morgan, and has served on the boards of several high-growth technology companies. She has worked on transactions from first meeting to completion, and works with established legal and financial advisers. She founded Gaman Succession to do what she had long wanted to do: lead one technology company herself and build something that lasts.
Born in Spain, she has spent half her life abroad, in the United Kingdom, France and the United States, and works in English, Spanish and French. She holds a Master in Management from ESCP Europe. After the acquisition she will take over as CEO through a transition agreed with you in advance.
After acquisition, Cecilia will be supported by a board drawn from her investors and by experienced operators who have led and grown software and technology companies, so the company benefits from hands-on management experience from day one.
What we look for
A profitable, well-established B2B technology company
If your company matches this profile, we would be pleased to hear from you.
- Business
- B2B software and tech-enabled services, including vertical software, data and digital platforms, and managed services where technology is central to what clients buy
- Selectively, specialist B2B services, often in regulated sectors, where technology and AI can transform how the work is delivered
- A clear position in a market with lasting growth
- Location
- Headquartered in Western Europe, with a focus on the Benelux, Spain and the United Kingdom
- Size
- Recurring revenue from €3m, or EBITDA above €1m
- Financial profile
- Mostly recurring revenue, with no heavy dependence on a few customers or suppliers
- Profitable and cash-generative
- A strong market position and customers who recommend you
- Ownership
- Founder- or family-owned, with an owner planning for succession or looking for a flexible, gradual transition and a partner who will protect what they built
- Transaction
- Acquisition of a majority stake, typically 80–100%, with the option for the owner to reinvest alongside us
- Team and culture
- A committed, collaborative team that wants to keep building the company
Why Gaman Succession
What we offer owners
- A deal structure that adapts to what you want, whether a full sale, a retained stake or a phased transition
- The ability to stay involved, in the role you choose, and to share in future growth
- An international profile to take your company into new markets
- A commitment to your team, customers and suppliers
- Transparency and confidentiality throughout
- Strong financial backing and experienced investors behind us
Every type of buyer has its strengths. Here is how a search fund differs from the alternatives founders usually meet.
| Gaman Succession | Private equity | Strategic buyer | |
|---|---|---|---|
| Focus | Your company only | One investment within a portfolio | Integrated into a larger group |
| Your role | Flexible, agreed with you | Usually expected to stay and lead the next growth phase | Usually a role within the acquirer’s organisation |
| Goal and horizon | Long-term growth, 20+ years | Value creation over a set holding period, typically 4–6 years, followed by a sale | Integration and synergies with the existing business |
| Deal terms | Adapted to your priorities | Often include debt financing and management incentives | Set by the acquirer’s group policies |
| Employees | Central to long-term growth | Depends on the fund’s plan for the business | Roles may be combined with the acquirer’s teams |
| Handover | Timing agreed with you | Typically 1–3 years | Typically 1–3 years, then integration |
How the process works
- Step 1Introductory meetingGetting to know you and your company, in confidence
- Step 2Indicative offerA written proposal on value, structure and your future role
- Step 3Due diligenceFocused and proportionate, to an agreed timetable
- Step 4Completion and transitionSigning, closing and a handover planned with you
Our backers
Backed by experienced investors
Gaman Succession is supported by investors who specialise in entrepreneur-led acquisitions and by operators who have grown technology companies across Europe.
Strong financial backing
Seventeen investors, entrepreneurs and technology operators back the project, with around 70% of the capital raised coming from institutional investors that specialise in entrepreneur-led acquisitions. Owners deal with a well-supported buyer, with the backing to see a transaction through.
Operating support from day one
Our backers have supported many entrepreneur-led acquisitions. Alongside them, operators who have led software and technology companies will advise Cecilia on strategy, product and team, and sit on or support the board.
Contact
Get in touch
Whether you are a business owner considering the future of your company, an adviser, or would simply like to know more, we would be pleased to hear from you. All discussions are treated in confidence.
