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• Technical Note | HBS Case Collection | 2013 (Revised from original 2013 version)

  Early Career LBOs Using the Search Fund Model

  Howard Stevenson, Michael Roberts and Jim Sharpe

  The funded search model is one alternative for individuals who, at some point in their career, want to run their own companies. This note looks at the funded search, as a means to entrepreneurship through acquisition and describes the path to buy and run a business using debt and equity as a means of financing the purchase. While applicable to an early career choice, many of the process steps are applicable to unfunded searches at later stages of a career.

  Keywords: Search Funds; search; leveraged buyouts; entrepreneurial finance; investor behavior; career planning; entrepreneurial management; fundraising; negotiation; Entrepreneurship; Capital Structure; Borrowing and Debt; Personal Development and Career; Private Ownership; Acquisition; Finance; Leveraged Buyouts;

  Citation:

  Stevenson, Howard, Michael Roberts, and Jim Sharpe. "Early Career LBOs Using the Search Fund Model." Harvard Business School Technical Note 813-119, June 2013. (Revised from original December 2012 version.)

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• Case | HBS Case Collection | 2013 (Revised from original 2012 version)

  Peter Jepsen

  Howard H. Stevenson, Michael J. Roberts and James M. Sharpe

  About to break bank covenants, Peter Jepsen has to deal with a contentious prior owner, improve profitability and staff appropriately all while maintaining credibility with his investors, in the furniture hardware company he has owned for less than a year.

  Keywords: Acquisitions; bankruptcy; crisis management; entrepreneurial management; entrepreneurial finance; entrepreneurship; financial crisis; turnarounds; financial distress; negotiation; entrepreneurs; bank loan; Search Funds; liquidation; boards of directors; ethics; Insolvency and Bankruptcy; Acquisition; Entrepreneurship; Manufacturing Industry; United States;

  Citation:

  Stevenson, Howard H., Michael J. Roberts, and James M. Sharpe. "Peter Jepsen." Harvard Business School Case 813-046, April 2013. (Revised from original July 2012 version.)

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• Case | HBS Case Collection | 2012 (Revised from original 2012 version)

  Dragonfly Corporation

  Howard H. Stevenson and Jim Sharpe

  After 3 years of losses and under legal threats from their landlord, a husband and wife team are faced with shutting the company down, buying time with the landlord or turning to their parents for additional funds. Despite opening a new location and seeing that sales were up from last year, their financial statements were still reporting losses forcing them to consider what steps to take to turn children's retail clothing business around.

  Keywords: entrepreneurship; entrepreneurs; entrepreneurial management; turnarounds; bankruptcy; bank loan; crisis management; family business; retail trade; financial crisis; financial analysis; Entrepreneurship; Insolvency and Bankruptcy; Retail Industry; United States;

  Citation:

  Stevenson, Howard H., and Jim Sharpe. "Dragonfly Corporation." Harvard Business School Case 813-042, November 2012. (Revised from original July 2012 version.)

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