What We Look For

Although there is no single formula for the type of opportunity that excites us, we seek to invest in companies with the following characteristics. 

 

Industries

Light industrial
and industrial services

Business services

Consumer products
and services

Deal Criteria

Size

Pre-tax earnings of $2-10 million
For add-ons, revenue > $1 million

   Type

    Family/founder liquidity, incl. 100% exits
    Management-led buyouts and acquisitions
    Significant minority investments

Geography

Headquartered in the U.S. or Canada
For add-ons, anywhere in the world

Business Characteristics

 

1. Family, founder or management team who values our permanent, patient capital

2. Strong, consistent gross margins (35%+), EBITDA margins (10%+), and free cash flow

3. History of organic revenue growth and long-term growth potential

4. Value-added products or services, with clear customer benefits

5. Wide, defensible moat (brand, know-how, distribution, etc.)