Lakeview Partners, a newly launched European search fund, is actively pursuing an acquisition target following the completion of its fundraising, managing partner Alex Shin told Mergermarket.

The firm, co-founded by Shin and Nicolò Fanti Rizzi, is looking to acquire a European business with an enterprise value between EUR 10m and EUR 60m.

While sector-agnostic, it is prioritizing companies with a sticky and scalable revenue model, strong customer loyalty, and sustainable profitability, Shin said.

Shin and Fanti Rizzi are leading the search themselves. They will combine a proprietary approach that leverages in-house capabilities to identify high-growth potential companies with engaging M&A advisors and intermediaries.

“In the early months, we have primarily worked with brokers to refine our search criteria, but we are now shifting focus to direct outreach with business owners,” Shin said. “We are building a pipeline through financial intermediaries, industry networks, and proprietary research.”

Lakeview is focusing on Italy and the UK for this search, where it has established relationships with M&A advisors. It has developed a scraping algorithm to track UK-based M&A activity and is taking a regional approach in Italy to pinpoint high-potential private businesses, according to Shin.

The firm expects to close an acquisition within the 18 to 24 months, Shin said. Having launched only recently, Lakeview is targeting a deal closure by mid-2026 but remains open to moving sooner if the right opportunity arises.

Shin noted that external advisors will be brought in for confirmatory due diligence, but the team will conduct initial screenings and financial assessments in-house.

“We want to control as much of the process as possible before engaging external advisors,” Shin said.

Lakeview has secured backing from 17 investors, including large private equity firms, family offices, serial search fund investors, and entrepreneurs, according to Shin. These investors are expected to provide strategic guidance throughout the search and post-acquisition operations.

Unlike traditional financial buyers, Shin and Fanti Rizzi plan to take over and operate the acquired company for the long term, rather than installing third-party management.

“This is not a buy-and-flip strategy,” Shin said. “We are looking for a company we can grow over the next decade.”

Lakeview’s value creation plan includes M&A-driven expansion and tech-enabled scalability, Shin said. Fanti Rizzi brings expertise in M&A and inorganic growth, while Shin has a background in emerging technologies, positioning the firm to enhance digitalization and internationalization.

While search funds have been a well-established model in the US, the European market is still maturing, presenting more flexibility and less competition in the acquisition landscape.

“Search funds are still at an early stage in Europe, but we are seeing growing interest from institutional investors and experienced operators,” Shin said. “This creates an opportunity to acquire and scale high-quality small to medium businesses in a way that has historically been more common in the US.”

With capital secured and sourcing efforts intensifying, Lakeview Partners is now focused on executing its acquisition strategy and securing a long-term growth platform, Shin said.