ETA & Search Fund Practicum
This course is designed for students who want to lead, grow, or reinvent an existing business, not just start one from scratch. This graduate-level practicum is designed for students exploring the path of Entrepreneurship Through Acquisition (ETA)- buying and operating an existing business.
Entrepreneurship isn’t just about launching a tech startup.
It can mean taking over a family business, buying an existing company, or helping a struggling operation grow in a new direction. Nearly 30% of UT students come from families that already run businesses, some for generations. This course blends lectures, case studies, guest speakers, and hands-on exercises to provide both the knowledge and real-world experience needed to pursue an acquisition search after graduation. Students will learn to develop an investment thesis, source deals, conduct due diligence, and build financial models to evaluate opportunities.
Key Skills & Deliverables
Define a target thesis (size, geography, model)
Define a target thesis (size, geography, model)
Draft a Letter of Intent (LOI)
Draft a Letter of Intent (LOI)
Source and screen acquisition candidates
Source and screen acquisition candidates
Create a due diligence checklist
Create a due diligence checklist
Conduct valuation and build a basic LBO model
Conduct valuation and build a basic LBO model
Capstone Project
Teams will present an investor-ready acquisition thesis to a panel of active ETA investors, receiving direct feedback and sharpening their real-world pitch skills.
Who Should Apply
The ETA Practicum is a great fit for MBA students who may be looking to buy and grow their family business, or otherwise pursue entrepreneurship without the specific obstacles that come with building a business from the ground-up. The course takes place during both the Fall and Spring semesters and is taught by Jacob Hall, MBA and Mellie Price, MSTC.