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Central European Management Journal

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Year 2022 
Volume 30 
Issue 4

Search Funds Characteristics of a New Group of Investors in Poland for Family Businesses Facing the Lack of Succession

Mateusz Biegajło
Warsaw School of Economics

2022 30 (4) Central European Management Journal

DOI 10.7206/cemj.2658-0845.89

Article contents

Abstract

Purpose: To analyze search funds as a new group of investment vehicles in Poland that constitutes a group of potential investors for family companies facing the lack of succession.

Methodology: The theoretical part presents family businesses, considers the problem of succession in Poland, and analyzes the literature on available forms of divestment of a family business owner.

Moreover, the article presents the roots of search funds creation and their characteristics, which reveals these investment vehicles as theoretically perfect for family businesses without successors. The empirical part presents a study into the sale of a Polish family business to a search fund, which was the first and only search fund deal in Poland until the end of 2020.

Findings: The study revealed that the sale of a family business to a search fund should be included in the catalog of possible forms of divestment of a family business owner facing the lack of successors.

Originality: The article fills a gap in the literature on family entrepreneurship in the context of
selling a business to a search fund in Poland, which has not yet been indicated as one of the methods for owners to exit a business.

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APA style

Biegajło, Mateusz (2022). Search Funds Characteristics of a New Group of Investors in Poland for Family Businesses Facing the Lack of Succession. (2022). Search Funds Characteristics of a New Group of Investors in Poland for Family Businesses Facing the Lack of Succession. Central European Management Journal, 30(4), 27-52. https://doi.org/10.7206/cemj.2658-0845.89 (Original work published 2022)

MLA style

Biegajło, Mateusz. “Search Funds Characteristics Of A New Group Of Investors In Poland For Family Businesses Facing The Lack Of Succession”. 2022. Central European Management Journal, vol. 30, no. 4, 2022, pp. 27-52.

Chicago style

Biegajło, Mateusz. “Search Funds Characteristics Of A New Group Of Investors In Poland For Family Businesses Facing The Lack Of Succession”. Central European Management Journal, Central European Management Journal, 30, no. 4 (2022): 27-52. doi:10.7206/cemj.2658-0845.89.

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