Greg Geronemus

Greg Geronemus, former co-CEO of Smart Tours and now a managing partner at Footbridge Partners, shares his journey in acquiring a profitable travel business. He discusses the unique challenges of searching in the competitive New York market and the innovative strategies used for outreach. Geronemus reveals how partnering with universities boosted growth and why direct mail proved to be more effective than digital marketing. He shares insights into the sale process, achieving a remarkable 9x EBITDA return, and highlights key lessons in acquisition discipline and risk management.

Robert Graham, an acquisition entrepreneur at SIG, and Greg Geronemus, an investor at Footbridge Partners who successfully utilized a traditional search fund, engage in a spirited debate about self-funded versus traditional search funds. They discuss the economic differences and fixed terms of traditional funds. The conversation dives into governance dynamics, success probabilities, and the flexibility of self-funded searches. Both guests share insights on board assembly challenges and the evolving accessibility of these funding models for aspiring entrepreneurs.