73rd Street is looking to help successful business owners transition their business to new ownership, whilst ensuring their legacy is fully preserved. We are a family investment group seeking to acquire a UK-based business and partner with its existing owners and management team to facilitate exits and continue growth and success. We can be flexible on the transaction structure, your involvement post transaction, and the timing. If you are considering retiring, or reviewing your succession options, please get in touch!
Honesty is the non-negotiable principle in everything we do, both personally and professionally. Trust on both sides will be a critical part of doing a successful transaction. We focus on doing business with good people.
We recognise that while exploring succession options it is critical to not impact business as usual, both within the company and with clients. We will exercise complete discretion to make sure only those selected by you are in the know.
We know first hand the effort it takes to build a business and how much it means to everyone involved. In many cases, it is your life's work! We have been in the same position and understand the importance of legacy. We are looking for a good business to grow long-term. We are not looking to make sweeping cuts or to flip businesses. You can be confident with us that the business will receive continued investment, the team and clients will be looked after, and your legacy will be preserved.
We believe that people and culture are the key foundations of all successful businesses. We are looking for a business with a strong team and are committed to taking good care of people.
We each have significant experience operating businesses of all sizes and are a 'safe pair of hands'. We plan to be hands on with Guy in the business day to day.
Businesses win by doing the small things well and the 'hard yards' every day.
Unlike other buyer groups we can be very flexible on timing, deal structure, and your involvement post transaction. We will work with you to find solutions that work for you. We have the capital and are ready to go.
EBITDA £1-3 Million
Good margins
Solid cash flow generation
Growing revenue
Ideally B2B but we are open to high quality B2C brands. We like to see repeat customers/long-standing customer relationships. Recurring revenue is a positive but not essential.
We are open minded but have a bias towards things with which we have a lot of experience. Our focus is on manufacturing, industrial services, business services and home services but we are open to any conversation
People are very important to us. We are looking for knowledgeable and motivated team members who are excited to be part of the next chapter
Strong market position with clear differentiation over competition is preferred
However, we have significant turn-around experience and would not rule out a good business which is going through challenges
We have a deep knowledge of US markets and are well placed to action US growth opportunities. This is not essential but would be considered a positive
We are very long-term focused. Most private equity firms will need to sell in 3-5 years. We intend to be a long-term owner
We do not believe in 'financial engineering' and will be conservative with debt
No complex approvals. Guy and Mike are the only decision makers
The business, brand and team will remain independent rather than becoming a small piece of a larger entity
Trade buyers often require 'synergies' (job cuts) to make the transaction work - we do not
I founded 73rd Street to acquire a successful UK business to operate for the long-term. My career to date has been in two halves, starting with engineering and most recently in finance but I am an engineer and operator at heart. I love building things, working in teams to solve problems, and finding ways to improve and develop.
I started my career at Laing O'Rourke and spent six years in project management/construction delivery including some time in a pre-cast concrete factory. I then spent three years in Hong Kong working for ARUP running engineering design teams. 2016-18 I did an MBA at New York University (NYU). Prior to founding 73rd Street I spent six years, split between New York and London, doing M&A at Morgan Stanley. I left finance to get back to my passion of operating a business.
I live in Surrey with my wife, Kristen, and Working Cocker Spaniel, Chester. Sailing has been my lifelong hobby and I sail as much as I can, both competitively and for fun. I took the cover picture on this page while sailing a boat to Sweden with friends last year. When I'm not sailing, I enjoy skiing, golf, good wine, and walks with Chester.
Mike is my father-in-law so we are a true family office! If you are thinking through your options for succession planning and/or retirement, or just want to talk about sailing, I'd love to hear from you!
Guy
The common theme of my 40+ year career has been managing manufacturing businesses that provide equipment and services to the global energy industries, broadly defined. The first 17 years of my career were spent in a US public company environment where I rose to become the President, Chief Executive Officer and a member of the Board of Directors by the age of 40. Following the unexpected sale of that company at the end of an unanticipated but very successful (for our shareholders) hostile takeover by a much larger acquiror, two partners and I came together to start Tanglewood Investments, our own private equity investment firm. Also focusing on manufacturing businesses and related services for the global energy industry, Tanglewood invested in 20+ separate business that were organized into 5 “platform” entities. Over a 30-year period running Tanglewood Investments, we always managed our businesses with a long-term perspective. Tanglewood recently completed the sale of its last remaining business, and I now look forward to working alongside Guy as we strive to invest in and guide the growth of businesses.
I believe the keys to success in business include a never-ending focus on the customer and striving for meticulous attention to detail and flawless execution every day, one day at a time. I believe that requires building a team of employees that embraces those values and, importantly, shares equitably in positive outcomes as they are achieved. I do not believe in the significant use of debt in a business.
I have extensive acquisition experience, including acquiring privately-owned businesses from owners who wish to retire and owners who wish to continue working but believe it is time to share with their families some of the wealth they have created.
My formal educational background includes a BS in Chemical Engineering from Texas A&M University and an MBA from Harvard Business School, in both cases almost all funded by scholarships.
My wife, Betti, and I split our time between the mountains in Colorado, and Texas. I enjoy continuing to be physically active with regular exercise and playing very mediocre golf!
Mike
We are always happy to travel to meet business owners either on site or at a more discrete location