Alvaro De Rivera, Tilden Capital
Tilden Capital, Current Searcher, Traditional Model
Survey completed September 17, 2020
Why did you choose your model? Would you make the same choice again?
Credibility with sellers, access to investors’ network and experience, need for funding. Yes.
Are you searching with a partner? If so, why did you choose them? How did you find them? If not, why did you choose to search solo?
Solo. I didn’t find a partner as committed to the project and with same set of values as me.
When is the right time to start speaking with investors? How did you select your search and/or acquisition investors?
As soon as possible. Select based on what kind of company you will look for. (size, region, industry)
Did you get an MBA before searching? If so, where and why?
Yes, Berkeley Haas.
What is your work experience prior to searching?
Corporate development and strategy.
What industries and sizes of companies are you pursuing?
Industry agnostic. 1-4M EBIT.
Are you doing a geographically focused search? If so, where?
How long have you been searching?
What systems do you use? (CRM, Email Manager, etc)
Prefer not to share yet.
How do you organize your day?
Analyze prospects, talking to /visiting owners, organizing interns, evaluating opportunities.
How do you identify prospects to acquire? Do you use only brokers, only direct outreach, or both?
Mostly direct outreach.
Approximately how many direct outreach calls and emails have you made to owners?
How do you find company lists?
Spain has a robust public database.
Do you subscribe to broker deal lists? Which ones?
Do you use interns? If so, how many? What do you have them do?
Three. Pre-screening companies and contacting owners.
Approximately how many deals have you reviewed?
How many companies have you gotten to the LOI stage with? How long before your first one?
1, 4 months.
What has been the most challenging part of your search? What was harder/easier than you expected?
Difficult to find companies that meet the classic SF criteria at attractive valuation.
What articles, books, and resources were most helpful to you in preparing to search?
HBS guide, business school cases.
What single piece of advice would you share with prospective searchers?
It’s hard but rewarding. Make sure your family understands the project.