Poplar Partners is a private investment company led by Alex Gelman who was also a former KKR executive. Today, the company announced that it had started its search for acquisition targets. Gelman is backed in this venture by a team of investors and seasoned operators.
Poplar had been looking at companies that have between USD1.5 million and USD7 million in annual cash flows. The company would also be aiming for firms with strong history of growth. Poplar had also directed its focus to the business, healthcare and IT services. It would also be targeting companies from the enterprise software and data analytics industries operating in the US.
Poplar believed that the US economy is well positioned amid the enormous inter-generational transition of wealth. Robert Avery at Cornell University said, "By the year 2025, virtually all closely held and family-owned businesses will lose their primary owner to death or retirement ...Approximately USD10.4 trillion of net worth will be transferred by the year 2040..."
Gelman commented, "We fill a niche that is desperately needed in the market. Our goal is to help small business owners transition their business while maintaining their legacy by providing them with investment capital, a replacement management team, and entrepreneurial energy."
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