Reasons For Seeking a New Partner
Over the years at The Succession Fund, we have learned that we can help owner-managers realize their ambitions of turning small, family ventures into larger businesses with professional management teams. We pursue a partnership approach, investing our own money alongside the owner-managers and building value together.
Shareholders have a variety of reasons for selling shares in a profitable private company:
- Changing financial, family or marital circumstances may require liquidity.
- Succession, ownership transition and retirement planning may lead to a sale of shares.
- There may be different views on strategy, growth and priorities.
We share several important traits with the owner-managers that we partner with:
- We are nimble and opportunistic.
- Our capital is right beside yours.
- We set performance targets.
- We maintain a focus on business growth and building value.
Why Partner with The Succession Fund?
- As your new investor partner, we will challenge you to get the best from your business. At The Succession Fund you work with us not for us.
- As partners we will work together to refine strategy, build the team, and prepare the business to be sold one day.
- We have a proven track record of successfully integrating acquisitions as well as substantially improving the enterprise value of our investments.
Larry Klar, Partner
Larry is a partner of Argosy Partners Ltd. He has been with the firm since 2006.
Larry has worked at multiple firms throughout his career in corporate finance:
- He started his career in corporate finance in 1984 with KPMG and was involved in numerous mid-market acquisition, divestiture and corporate finance advisory assignments.
- In 1992, Larry joined Canadian General Capital, where he was responsible for generating successful returns by investing in management buyouts and growth capital financing opportunities.
- In 2006, Larry joined Argosy Partners to help launch The Succession Fund and assist with The Shotgun portfolio companies.
Larry is a Chartered Business Valuator. He has completed the Directors Education Program at the University of Toronto’s Rotman School of Management and attained his ICD.D designation.
Larry spends his free time with his family and in the endless pursuit of becoming a better golfer.
Richard Reid, Partner
Richard founded Argosy Partners Ltd. in 1995
- His investment career started in 1975 when he was hired by Wood Gundy Ltd. to work as a clerk on the floor of the Toronto Stock Exchange.
- In 1979 he advanced his career, becoming a stockbroker at Burns Fry Ltd.
- Richard joined Gordon Capital in 1983 as part of an initiative to invest a portion of that firm’s capital in small private growth companies. In 1987, while at Gordon Capital, Richard developed the idea and helped raise the capital for the Canadian Mezzanine Fund (a collaboration between Gordon Capital and Helix Investments to fund private growth companies and exit through the public markets).
- In 1990, Richard was asked to form a team to replace management of the Fund, and they subsequently returned all the capital with a good return by investing in owner managed businesses.
- Richard left Gordon Capital in 1995 to form Argosy Partners Ltd. to advise and invest in small and medium-sized businesses. Argosy Partners Ltd. launched its first private equity fund, The Shotgun Fund, in 1999.
Richard enjoys competitive sailing.