INVESTMENT FOCUS

Geography
United States and Canada

Size
Minimum revenue of $3 million
Prefer EBITDA of at least $1 million, but will look at smaller companies

Business Characteristics
Small market niche leaders
Defensible market position
Growth potential internally or through acquisition
Niche manufacturers of consumer and industrial products
Unique service companies
Value-added distribution

Management
Management continuity is preferred, but not required

Avoided Industries
Retail, restaurants, software, start-ups, real estate, commodity products, biotech

Transaction Types
Buyout of retiring owner or majority/minority shareholder
Management buyout
Generational transfer in a family business
Recapitalization of existing ownership/management
Corporate divestitures.