Michael Koenig
Founding Partner, Golden Lakes Partners
I truly believe small businesses are the backbone of the American economy and entrepreneurs are the real doers and builders. Across over a decade in investment banking and private equity, I have been fortunate to partner with outstanding founders and builders to help take their life’s work to the next level. As I built close relationships with these colleagues, I came to admire their tenacity, passion, and most importantly, the incredible teams and businesses they had spent their entire lives building. I was inspired to build something enduring, and ultimately follow in their footsteps by launching my own entrepreneurial venture, Golden Lakes Partners.
I am aspiring to become a third-generation entrepreneur. My grandfather immigrated to the United States from Poland and began working for his uncle's shoe store before ultimately opening a shoe shop of his own on the south side of Chicago. My other grandfather took over his family wholesale flooring distribution company at age 16 after his father passed away. My own father was a corporate attorney before deciding to build a business in financial services, focused on lending money to Main Street America companies that were too small to be served by traditional banks.
For most of my career I sat on the investing side of the table, helping owners think through the biggest decision of their lives from the outside. With Golden Lakes Partners I'm choosing to cross to the other side, to buy one business and run it myself for the long haul. Growing up around businesses like these shaped how I think about ownership. It isn't a transaction to me, it's a responsibility to the people who built the organization and to the ones who depend on it.
Outside of work, you’ll find me playing pickup basketball or volleyball, hiking with my partner, Michelle, and our two dogs, Tibia and Luna, cheering on my Chicago sports teams and Indiana Hoosiers, searching for my golf ball on the course, or reading my next favorite book.
Partnering with Founders and Operators
Selected companies where I worked alongside boards of directors and management teams on operational and strategic initiatives.
Multi-state ophthalmology practice network (FL, TX, OK)
Multi-state allergy & asthma practice network (100+ offices)
Multi-state hospice and palliative care provider
Primary care clinics focused on Medicare 65+ population
Enterprise event management technology platform
Managed cybersecurity services & compliance solutions
Automotive dealer F&I products and services
Point-of-sale software & technology for car wash industry
Home furnishings, lighting & decor manufacturer/distributor
What we look for in a business
Partnership Criteria
Business Size
$1M+ of EBITDA or meaningful, stable cash flow.
Durable Business Model
Essential products or services with a clear value proposition.
Customer Loyalty
High retention, strong reputation, limited customer concentration.
Transition-Ready Owner
Owner seeking retirement, succession, liquidity, or a reduced day-to-day role.
Recurring or Repeat Revenue
Contracted, recurring, or highly repeatable customer demand.
Strong Team and Culture
A loyal employee base and a culture worth preserving.
Low Capital Intensity
Healthy free cash flow with reasonable ongoing capex.
Long-Term Growth Potential
Room to grow through sales, operations, technology, people, or add-ons.
Our Process
A transparent, respectful process designed to minimize disruption
A confidential discussion to learn about the owner's goals, the business, and whether there may be a fit.
Spend time with the owner and team to understand the company, culture, and priorities.
Confirmatory diligence alongside a collaborative transition plan for employees, customers, and stakeholders.
Diligence and Transition Planning
Introductory Conversation
In-Person Meeting
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Initial Review
Review basic financial and business information under NDA.
Letter of Intent
If there's mutual alignment, a straightforward proposal outlining valuation and key terms.
Close and Long-Term Stewardship
Complete the transaction and operate with care, continuity, and a long-term mindset.
Why Choose Golden Lakes Partners?
A Partnership Built on Long-Term Stewardship and Trust
Traditional Private Equity
- ~5 year investment horizon before resale
- Focus on cost-cutting and aggressive growth
- Significant management turnover is common
- Primary goal is short-term IRR for investors
Strategic Buyer
- Absorption into a larger corporate structure
- Redundancies often lead to job losses
- Brand and culture identity may disappear
- Synergies prioritize the buyer's existing assets
Golden Lakes Partners
- Focus on stewardship and long-term legacy
- Commitment to employee and culture stability
- Entrepreneur-led with operations-first mindset
- Decades-long investment horizon
Frequently Asked Questions
The questions owners ask most when they think about selling.
The existing team is the most important part of your business. I'm acquiring to operate the business for the long term, which means the people who built it stay and continue to lead. My goal is to continue to grow your business and have your employees continue to grow and develop with the organization.
In almost every case, yes. The name and reputation are a large part of what makes the business valuable, and I have no interest in erasing what you built.
That's entirely up to you. Some owners want a clean exit, while others want to stay on for a short transition period or continue to work in the business. The benefit of partnering with me is that we can create a flexible structure together that works for everyone.
From first conversation to close typically runs a few months, depending on the business. I move quickly and transparently, and I'll keep you informed at every step.
Completely. Early conversations and any financial review happen under NDA, and I'm careful to protect your privacy with employees, customers, and competitors throughout.
I'm one person acquiring one business to run it myself, not a fund assembling a portfolio or a competitor folding you in. You deal directly with the person who will lead the company, and the focus is continuity, not a quick flip. Your business will be 100% of my focus from the moment we sign an LOI, whereas with a PE fund or a strategic, your business would be just one of the many different deals they’re juggling at the same time.
Profitable, durable businesses with loyal customers and a strong team, generally $1M+ of EBITDA. The Criteria section above has the full picture, but I keep a flexible mandate case by case.
That's fine. I'm happy to start a relationship early and stay in touch. Many of the best transitions begin as a conversation long before there's a transaction.
Get in Touch
Whether you are a business owner considering succession, an advisor representing an owner, or someone interested in Golden Lakes Partners, I would welcome the conversation.
Michael Koenig
Founding Partner
Golden Lakes Partners
Email: michael@goldenlakespartners.com
Phone: +1 (847) 826-9008
Location: San Francisco, CA