After nearly four years of working at Clayton-based private equity firm Thompson Street Capital Partners, Stefan Sigurdson decided in December 2020 to chart his own path.
He wanted to put his career experience in banking and private equity to use as a business owner, kicking off a year-and-a-half search to acquire a business, a process that wrapped up this summer with the purchase of a long-standing local company. Sigurdson in June closed on the acquisition of Ellisville-based Allen Roofing & Siding.
The entrepreneur says his hunt for a company mimicked that of a so-called search fund, which involves individuals turning their attention full time to finding a company to acquire and operate. Traditionally, search funds involve aspiring entrepreneurs seeking capital to fund their business search. The investors typically have the option to participate in an acquisition, if one occurs.