Pacific Lake Partners
Pacific Lake Partners, LLC operates publicly as Pacific Lake and was co-founded by Coley Andrews and Jim Southern in 2009. The firm invests alongside entrepreneurs who search for, acquire, and operate privately held businesses, while providing support across search-fund formation, acquisition, growth, and operations.
Pacific Lake Partners invests alongside entrepreneurs pursuing entrepreneurship through acquisition.
Its stated target characteristics include B2B or B2C service businesses with simple operations, a history of profits and growth, EBITDA margins above 15%, EBITDA of at least $2 million, 60%+ contractual recurring revenue, low maintenance capital expenditure, and industry growth of at least 2x GDP. Its guidance states that purchase prices generally range from $10 million to $30 million, with an equity portion between $6 million and $24 million.[1][2][3][4][6]
What does Pacific Lake Partners invest in?
Pacific Lake Partners, LLC operates publicly as Pacific Lake and states that it was co-founded by Coley Andrews and Jim Southern in 2009. The firm describes a model based on partnering with entrepreneurs pursuing entrepreneurship through acquisition and investing alongside them in operating companies.
Pacific Lake provides end-to-end support for search-fund entrepreneurs, including forming a search fund, finding and acquiring a company, growing the business, and transitioning operations.[1][2]
Pacific Lake’s model is built around search-fund entrepreneurs who identify, acquire, and operate privately held businesses. The firm states that it invests alongside those entrepreneurs and provides support through the search, acquisition, growth, and operating stages.
Pacific Lake also describes a Long-Term Home strategy created in 2018 to provide high-performing search-fund CEOs with an alternate path to liquidity while allowing them to continue building their companies.[1][2][6]
Owners evaluating a financial buyer can compare the offer with independent valuation analysis, understand how acquirers approach transactions through Auxo’s buy-side M&A process guide, and consider whether a full or partial sale best fits their objectives.
What should a business owner evaluate before considering a transaction with Pacific Lake Partners?
For an owner evaluating a potential transaction, Pacific Lake’s stated model centers on an entrepreneur-led search and operating-company ownership structure. The owner should clarify which searcher or operating CEO would lead the business, the proposed capital structure, governance arrangements, and any rollover expectations.
Owners should also establish whether the proposed transaction would use a conventional search-fund ownership arrangement, a Long-Term Home structure, or another arrangement. The Long-Term Home article does not state a universal ownership duration or exit schedule, so the intended ownership horizon and potential liquidity arrangements should be addressed directly.[1][2][6]
What governance and reserved-matter rights would Pacific Lake and the searcher require
What companies does Pacific Lake Partners target?
Pacific Lake’s search-fund guidance describes target businesses as generally having simple operations, a history of profits and growth, EBITDA margins above 15%, EBITDA of at least $2 million, 60%+ contractual recurring revenue, low maintenance capital expenditure, and industry growth of at least 2x GDP.
The same guidance states that purchase prices generally range from $10 million to $30 million, with an equity portion between $6 million and $24 million. These are general search-fund guidance figures, not disclosed terms for any particular portfolio company.[3]
Pacific Lake’s official operating-company portfolio includes software, B2B services, professional services, healthcare, financial services, consumer services, education, and holdco businesses.
Its search-fund guidance focuses on B2B or B2C service businesses with simple operations, a history of profits and growth, and industry growth of at least 2x GDP.[3][4]
Pacific Lake lists offices at Prudential Tower in Boston, Massachusetts and Town & Country Village in Palo Alto, California. It also states that it would be willing to invest in a great company in any location, while noting that major-city locations are more typical because of access to talent and customers.[3][5]
Pacific Lake’s model involves entrepreneurs searching for, acquiring, and operating privately held businesses.[1]
Pacific Lake’s official portfolio identifies H Clinical as an active healthcare investment with an investment year of 2026; Connected Dealer Services as an active B2B-services investment with an investment year of 2026; and IT Service Alliance as an active professional-services investment with an investment year of 2026.
The portfolio also identifies FluidSecure, FreeBalance, and Sector 7 Energy as active investments with investment years of 2025.[4]
The official operating-company portfolio identifies 2026 investments in H Clinical, Connected Dealer Services, and IT Service Alliance. It also identifies FluidSecure, FreeBalance, and Sector 7 Energy as 2025 investments.
The listed portfolio information does not establish transaction values, purchase-price multiples, financing terms, or consideration paid for these investments.[4]
What is not clear from Pacific Lake Partners's public investment criteria?
The official operating-company page identifies portfolio companies, sectors, statuses, and investment years but does not disclose transaction values, purchase-price multiples, financing terms, or consideration paid for the listed investments.
The official search-fund guidance provides general purchase-price and equity ranges but does not identify those figures as transaction terms for any particular portfolio company. The Long-Term Home article describes an alternate path to liquidity and continued company building but does not state a universal ownership duration or exit schedule for Long-Term Home investments.[3][4][6]
Questions to ask when evaluating Pacific Lake Partners as a buyer or investment partner
Which searcher or operating CEO would lead the business?
What portion of the purchase price would be funded with equity, debt, seller financing, or rollover equity?
What governance and reserved-matter rights would Pacific Lake and the searcher require?
Is the proposed transaction intended for a conventional search-fund structure, a Long-Term Home structure, or another ownership arrangement?
What is the expected ownership horizon, and under what circumstances would a future sale, recapitalization, or liquidity event be considered?
What resources from Pacific Lake's operating and value-creation teams would be committed to the business?
Sources & research notes
- Official website / firm overview
- Services / capabilities
- Investment approach
- Industry / market focus
- Geography / market coverage
- Investment strategy
- Structure / regulatory context
How this profile was researched
Auxo profiles are prepared from publicly available primary and authoritative sources and reviewed for entity identity, factual support and disclosure consistency. When a fact cannot be supported by the reviewed public record, the profile identifies it as something to confirm directly rather than inferring it.
Independent research profile
This profile was prepared by Auxo Capital Advisors from publicly available information believed to be reliable and is provided solely for informational and educational purposes. It is not an endorsement, recommendation, ranking, solicitation, or representation regarding the profiled firm, its services, qualifications, transaction experience, regulatory status, financial condition, or suitability for any particular person, company, transaction, or investment.
Information obtained from third-party and public sources may be incomplete, inaccurate, outdated, or subject to change, and Auxo Capital Advisors makes no representation or warranty, express or implied, as to its accuracy, completeness, or timeliness. Readers should conduct their own independent diligence and consult appropriate professional advisers before engaging any advisor, intermediary, investor, lender, acquirer, or other transaction counterparty.
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