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Spring Street Capital, a New York-based SF, announced its final closing and will immediately commence a nationwide search to acquire a well-established software company with an enterprise value of $10–30M. Sanket Bhasin, who has 18 years of experience in building and scaling software companies, will lead the search process before taking a senior operating role to expand and accelerate the business acquired. He is backed by 20 limited partners, including institutional investors such as The Operand Group, Kinderhook Partners, Highland Creek Partners, Dellin Investments, Housatonic Partners, Integral Private Wealth, Reframe Capital, The Cromwell Harbor Partnership, Marion Equity, Gulmohar Capital Partners, Morcach Capital, Larsson Family Office, and leading software executives from AutoLeap, Voxco, Goodfood, Planet DDS, ConsumerAffairs.com, BroadPeak, and CraneTech.
Bhasin has founded and sold two businesses and recently advised Fortune 500 executives on business building. He has worked with teams at Boston Consulting Group Digital Ventures, Shell Oil Company, Kimberly-Clark, and others across the US, Australia, and the UK. He holds an MBA from the Australian Graduate School of Management and the University of Chicago Booth School of Business, where he serves as a coach for entrepreneurship.
“Spring Street will focus on software businesses where the current management team wishes to retire or reduce active involvement in the company” said Bhasin. “An ideal company would be a well-established business with stable cash flow, low research and development costs, and high growth potential. Since we are a smaller firm, we can be more agile than our competitors and assess strategic opportunities in a shorter time frame. We are also well-positioned to assist founders seeking a hands-on buyer with extensive software operational expertise and a long-term commitment to their personnel, clientele, and legacy. Our main goal is to find a growing business, improve upon it, increase employee and customer satisfaction, and leave the business in better shape than when we found it”.
