Investment Criteria

Typical Financial Characteristics.

$100 M- $500 M

Revenue

$10 M- $40 M

Ebitda

$100 M- $400 M

Enterprise value

Demonstrated strong free cash flow generation

Attractive returns on invested capital

Add-on acquisitions of any size

Targeted Business Characteristics.

  • Market leadership
  • Delivery of differentiated products or services
  • Industry leadership in utilization of technology and the internet
  • Scale
  • Significant barriers to entry
  • Ability to compete on a basis other than price

  • Emotionally and financially committed managers
  • Vision and desire to move their companies to the next level

  • Organic growth through industry growth "tailwind", market share gains or product line and geographic expansion
  • Add-on acquisitions
  • Actionable opportunities for operating improvements
  • Scalable business model

  • Essential products or services
  • Recurring customer demand
  • Diversified customer and supplier base
  • Stability of revenue and profitability
  • Contingency planning by management

Industry Focus.