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  • May 2018 (Revised January 2019)
  • Teaching Note
  • HBS Case Collection

Nashton Partners and Its Search Fund Process

By: Richard S. Ruback, Royce Yudkoff and Ahron Rosenfeld
  • Format:Print
  • | Language:English
  • | Pages:22
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Abstract

Teaching Note for HBS No. 212-006. In 2008, Jay Davis (HBS’ 08) and Jason Pananos (HBS’ 08) formed Nashton Partners and raised $500,000 from investors to fund their search. After 30 months of searching, and exhausting the money they raised to fund their search, Davis and Pananos were contemplating the purchase of Vector Disease Control, Inc. (VDCI). Their alternative was to conclude their search without an acquisition. The case explores the economics of a funded search, the search process itself, the impact of failed deals and the evaluation of an acquisition prospect.

Keywords

Search Fund; Acquisition; Capital Structure; Financing and Loans; Investment Funds; Partners and Partnerships

Citation

Ruback, Richard S., Royce Yudkoff, and Ahron Rosenfeld. "Nashton Partners and Its Search Fund Process." Harvard Business School Teaching Note 218-120, May 2018. (Revised January 2019.)
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About The Authors

Richard S. Ruback

Finance
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Royce G. Yudkoff

Finance
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Related Work

    • May 2018 (Revised January 2019)
    • Faculty Research

    Nashton Partners and Its Search Fund Process

    By: Richard S. Ruback, Royce Yudkoff and Ahron Rosenfeld
Related Work
  • Nashton Partners and Its Search Fund Process By: Richard S. Ruback, Royce Yudkoff and Ahron Rosenfeld
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