June 15, 2017 DURHAM, NC -- Tobacco Road Partners, a private investment partnership led by entrepreneurs Brandon Garcilazo and Keith Laabs, announced today that it has completed its initial fundraising and has begun a search for acquisition targets. Garcilazo and Laabs, backed by a team of successful entrepreneurs, executives and investors, are interested in acquiring a single privately-owned, high potential business.
Tobacco Road Partners will look to acquire a lower-middle market company with $10 - 40 million in annual revenue, two to seven million in annual cash flow and a history of consistent profitability. The team will explore opportunities in the business services, healthcare services and IT/software industries, among others, in a search that will span the United States, but primarily focus on the Southeastern U.S. Tobacco Road Partners seeks an investment opportunity in which a current owner-operator is looking to transition away from daily operations. Post-acquisition, both Laabs and Garcilazo will take on senior leadership roles within the business and dedicate their efforts to long-term growth of the company.
Garcilazo and Laabs met at the Stanford Graduate School of Business. Garcilazo has a background in investment banking with J.P. Morgan, middle market private equity with H.I.G. Capital, management consulting with McKinsey & Co. and private equity portfolio company operations. Laabs has a background in management consulting at both Bain and McKinsey & Co., as well as strategy and M&A at Coca-Cola, and operations at Rubicon Global, a high-growth, venture-backed business in the waste management space.
Gerald Risk, vice chairman and former president of Asurion, expressed anticipation for the newly formed venture. “We are excited to be partners with Brandon and Keith. They are exactly the kind of high potential, early career leaders we love to back,” said Risk, “We believe the combination of their operational experience, educational background, and raw talent positions these two entrepreneurs to help the owner of one great company achieve their liquidity and succession objectives.”
Coley Andrews, co-founder and managing member of Pacific Lake Partners added, “We are delighted to be partnered with Brandon and Keith on their endeavor to acquire and grow a great small business.”
Aaron Gabbart, vice president at Peterson Partners stated, “The Peterson Partners team is eager to team up with Brandon and Keith as they endeavor to become entrepreneurs through acquisition. We believe their professional background and unique skillset will bring them success as investors during their search and as operators in an acquired business.”
Garcilazo commented, "Our goal is to provide a small business owner with an attractive exit alternative, while protecting their legacy, by providing investment capital, a dedicated leadership team, entrepreneurial energy, and deep operational expertise." "We will bring continuity to the customers, employees and community of an acquired business,” Laabs added. “We have a unique long-term perspective, enabling us to add and unlock value, free of artificial deadlines."
About Tobacco Road Partners
Tobacco Road Partners, based in Durham, North Carolina, is a private investment partnership focused on acquiring a single company, and growing the business over the long term. Backed by a team of successful entrepreneurs, executives, and investors, Tobacco Road Partners aims to invest in a business with two to seven million in annual cash flow. The firm is particularly well-positioned to be an attractive exit option for business owners who are looking to transition away from day-to-day operations, as Tobacco Road Partners offers both investment capital and a dedicated management team. Contact Information Tobacco Road Partners, LLC (901) 289-7220 firstname.lastname@example.org