Investment Criteria

  • Revenue of $10M to $100M and EBITDA of $3M to $30M (excluding turnarounds)
  • Minimum EBITDA margin of 10% with strong free cash flow (excluding turnarounds)
  • Opportunity to partner with owners / management teams seeking combination of resources and capital
  • Emphasis on partnering with like-minded owners / management teams that share our vision and values
  • Family-owned, entrepreneur-led, or corporate carve-out situations
  • Leveraged or management buyouts, minority recapitalizations, growth financings, and turnarounds
  • Flexible ownership percentage (control and non-control equity) and transaction structure
  • Industry agnostic

Emphasis on Fundamental Value Creation

  • Hands-on, shop-floor level approach to identifying value creation opportunities
  • Lead development and execution of strategic plan as active Board member
  • Relentless focus on implementing processes that lead to long-term success
  • Extensive network of relationships with successful operating and industry executives
  • Disciplined approach centered around fundamentally improving day-to-day operations
  • Long-term focus on building stronger and more sustainable businesses

Exceptional Ability to Close Transactions

  • Experience closing multiple transactions simultaneously to form platform companies
  • Willingness to invest significant time evaluating complex transactions and unique and challenging situations
  • Open to “out-of-favor” and “boring” industries and sectors
  • Strong relationships with a wide variety of equity and debt financing partners
  • Proven track record of closing transactions

Portfolio Company Support

  • Strategic and financial planning
  • Identifying value creation opportunities
  • Operational and supply chain management
  • Sales and business development
  • Building management teams
  • M&A, strategic partnerships, and financing
  • Financial reporting and analysis

“Sixty-some years of experience with dozens of different partners have taught us the importance of partnering with those who share our vision and values. If partners have conflicting and irreconcilable visions, the business will not realize its potential and will probably fail.”  – Charles Koch

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