- Make majority equity investments in middle market and lower middle market manufacturing and industrial service companies headquartered in the US or Canada.
- DO NOT invest in retail, apparel, consumer products, businesses subject to fad or fashion, healthcare services, media, telecom, information technology, or financial services.
- Seek a growing industry with relatively stable competitive dynamics.
- Seek a company with an attractive and defensible market position, promising growth prospects, and positive cash flow.
- Look for opportunities to add value – whether the company is well-run or underperforming.
- $20 – $200 million in enterprise value.
- EBITDA of $4 – 25 million.
- Equity investments of $8 – $70 million.
- Management teams that are open to partnering on strategic direction, organic growth initiatives, acquisitions, and operational effectiveness.
- Willing to supplement a team with one or two executives, but do not seek to make widespread changes.
- We are transaction structure agnostic.
- We focus on the industry, the company, the management team, and how we can help the company, not the transaction structure.
- We will do management buyouts, restructurings, public to privates, refinancings, or partial to full transfers of equity from family-owned businesses.