The Searchers Building a $10m EBITDA Powerhouse

Thanks. So far it's all on paper, but we're thrilled. I mean, we're honestly super excited about the opportunity ahead of us. And who knows, maybe we'll be on the next one.

And so you started your career, or at least earlier in your career, you were at Relay Investments, as we've discussed with Sandromino, who's a big profile in the traditional search fund community, he's supported me. In fact, when I was about to quit my corporate job way back in the day. The returns you're Talking about here, 35% IRR, how common are they within the search land and what have you…

And the way you're cutting this, and I don't want to kind of get into the details of why you should just read what his piece was, which is quite thorough, and then you should read the rebuttals and the studies and if you want to look into that. But that's a great question, and it's one that is very much in dispute by people who have a lot more information than we do.

I mean, from, from our seat, I would say in Latin America there have not been many that have produced that since the first one, whatever that would have been 2010, maybe the first searchers in Latin America as far as delivered a cash on cash return that would correspond to that, probably a handful, just because there haven't been that many exits. And most of the Latin searchers have launched, say…

You know, it's been very much sort of a J curve a little bit where at the beginning you have, you know, funds here and there in Mexico, Dr. Colombia, whatever, and then, you know, today lots of funds launching Brazil especially. But they're young, they're younger in their holds.

So you don't have as many exits. But. No, I mean, I, I don't think it's common in our region. No.

AJ's report sure made a splash.

It did.

We're hearing about it all the time.

Yep.

Well, we should also say that of course, AJ is in your deal. He, he made his own money in records management. I don't know when, the 90s maybe,.