Investment Criteria

Our focus is the middle.market where we seek profitable, growing companies in which we invest for the long term. We view every situation as unique and maintain an investment approach that is flexible both in terms of structure and industry sector.

Transaction parameters
We typically invest between $10 million and $50 million per transaction for companies valued between $20 million and $200 million. Minimum EBITDA for platform acquisitions is $3 million, with no minimum for add-on acquisitions.

Transaction types
We prefer control investments but will also actively consider significant minority positions. Transactions include leveraged buyouts, recapitalizations, corporate divestitures, and management buyouts as well as acquisition capital and growth equity.

Broad sector focus
We invest in a broad range of industries, including:

  • Business and industrial services, such as business process outsourcing, information management, specialty maintenance and repair, waste management, and environmental services.
  • Value-added distribution, including but not limited to wholesale distribution, route-based distribution, supply chain management, and transportation and logistics.
  • Specialized manufacturing, such as niche manufacturers of high-margin consumer or industrial products.

Other specific sectors of interest include environmental services, food and beverage, laboratory products and services, and MRO and related support services.