Relay Investments
Martin Steber has extensive work experience as a Managing Director and Co-Founder. Martin co-founded RelayInvestments LLC in 2013 and held the role of Managing Director until the present. Prior to that, they co-founded Sverica International in 1993 and served as Managing Director until 2007.
Martin Steber earned a Bachelor of Science (Eng.) degree in Computer Science from Imperial College London between the years 1984 and 1987. Martin then pursued further education and obtained a Master of Business Administration (MBA) degree from Stanford University Graduate School of Business from 1989 to 1991. In addition to their formal education, Martin Steber has a certification from The Institute of Corporate Directors, specifically the Institute of Corporate Directors (ICD.D), although the specific month and year of obtaining this certification are not provided.
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Relay Investments
We invest in the next generation of entrepreneurs through Search Funds. We are active in the US, Canada, and other markets. To date, we have invested in 21 countries on 6 continents. We find hidden gems in the $1-3mm EBITDA range by using the search fund model to invest in highly motivated entrepreneurs, typically graduates of top tier MBA programs. This lower end of the private equity market provides outsize return opportunity because other financial and strategic players find it too small to enter. We fund acquisitions of healthy businesses operating in fragmented markets under stable regulatory and political regimes. These companies tend to have been operating profitably for at least 3 years with B2B, recurring revenue business models and low capital intensity. Minimal customer and supplier concentration provides us with a margin of safety. The owners of our target companies generally seek retirement after a long career and view our searchers as younger versions of themselves, allowing us oftentimes to pay lower prices in competitive processes. The low entry multiples allow significant multiple expansion to improve investor IRR. We avoid investing in cyclical industries as well as those driven by commodity prices and other exogenous factors. We do not invest in start-ups, real estate, or turnarounds. If you have what it takes to source, acquire, and manage a growing SME, please don't hesitate to contact us.