Self-Funded ETA in Europe | Alexander Kelm, Buyout Diary

In this episode we are joined by Alexander Kelm, founder of ETA Europe and writer of Buyout Diary, to explore why entrepreneurship through acquisition in Europe requires a very different playbook from the one most searchers know in the United States.Alexander shares his journey from finance and startups into ETA, why he chose independence over the traditional search fund model, and how his MBA research on governance, founder knowledge transfer, and post-acquisition operations shaped his thinking around buying and owning small businesses.They discuss: Why the U.S. ETA model doesn’t cleanly translate to Europe  The importance of language, culture, and local trust in European acquisitions  How seller financing and government-backed loans differ from SBA financing  Why relationship-building matters more in European dealmaking  The growing ETA ecosystem across Amsterdam, Brussels, Spain, and beyond  How family offices in Europe are slowly waking up to ETA  Cross-border investing opportunities between the U.S. and Europe  Why Alexander chose a self-funded path instead of a traditional search fund The conversation also dives into a broader theme that often gets overlooked in ETA: how to design an acquisition path that fits the kind of life you actually want to live, not just the one that looks best on paper.Whether you’re interested in international ETA, self-funded acquisition entrepreneurship, or the future of small business succession outside the U.S., this episode offers a rare on-the-ground look at one of the fastest-growing ETA ecosystems in the world.Send us Fan MailSupport the showFind us on Apple, Spotify, Amazon, and YouTube.