Investment Criteria

We make majority, control investments where our partnership model works best including:

Partial Liquidity & Growth: shareholder seeking liquidity and partnership for next chapter of growth (3+ years).
Staged Succession: an owner-operator may be looking to take a step back from the operations of the business and transition over time (1-3 years).
Immediate Retirement: an owner-operator is looking to retire on closing and exit the business completely (0-12 months).
Management / Employee Buy-Out: an existing group of managers or employees would like to purchase the company from the owner they currently work for and are seeking a strategic partner for the transaction.
Carve Out: a larger corporation would like to carve out a segment of their business that is deemed non-core or simply believes the segment is better suited as a stand-alone business.

We seek to invest in smaller, entrepreneurial businesses that have some (or all) of the following characteristics:

Financial Profile: EBITDA $2M+, long-term history of profitability, strong free cash flow conversion
Predictability of Cash Flows: Diverse set of customers and end markets, growing industry, barriers to entry
Strength of Team: Long-term, loyal employee and customer base that we can grow alongside
Leader in Niche: Strong competitive position within its niche – has a distinct reason to exist and outperforms their market. Competing (and winning) in large, fragmented and often over-looked, niche markets.
Ability to Resource: Opportunity to invest in people, process and technology.

We partner with companies where we have experience, including, but not limited to: