Investment focus
Geography
- United States and Canada
Earnings
- Annual revenues between $5 million and $100 million
- Annual EBITDA between $1 million and $20 million
- Above-average margins for their respective industries
Characteristics
- Privately held companies seeking an equity partner, liquidity for owners, or funding for growth or acquisitions
- Entrepreneurial, committed management capable of running the company on a day-to-day basis
- Market-niche leaders with defensible market position
- Significant growth potential, either organically or through acquisition
- Companies/management with proven track records of sales and earnings growth
Industries
- Niche manufacturers
- Unique service providers
- Value-added distributors
- Business process outsource providers
Transactions of interest
- Recapitalization of existing ownership/management
- Owner’s desire to capitalize on equity value while bringing in a partner to support future growth
- Management/owner buyouts
- Ownership transition transactions for family-held businesses
Industries and business types avoided
- Retail
- Restaurants
- Start-ups
- Real estate
- Commodity products
- Biotech
- Natural resource development
- Businesses exposed to commodity price fluctuation