We make debt and structured equity investments of $5-$40 million to support a wide range of transactions:

  • Growth capital financings
  • Strategic acquisitions
  • Minority recapitalizations
  • Management buyouts
  • Independent Sponsor buyouts

We tend to invest in companies that meet the following parameters:

Revenue multiple businesses:

  • Annualized recurring revenues of at least¬†$5 million
  • Strong unit profitability and gross margins
  • At least 80% recurring revenues
  • Minimum 10%¬†annual revenue growth
  • Visibility to positive cash flow in 18-24 months

EBITDA multiple businesses:

  • Revenue of at least $10 million
  • EBITDA of at least $2 million
  • EBITDA margins of at least 10%
  • Stable historical performance
  • Modest capital expenditure and working capital requirements

Additional considerations:

  • Exceptional management team
  • Growing end market
  • Repeatable/”sticky” business model
  • Sustainable competitive advantages
  • Diversified and longstanding customer base
  • Ability to withstand business cycles

Industries of Interest:

  • Software/Technology
  • Big Data
  • B2B Services
  • Healthcare Services
  • Education Services
  • Financial Services
  • Logistics
  • Security Alarm Monitoring
  • Franchisors/Franchisees
  • Light Manufacturing/Assembly/Distribution

Industries Not of Interest:

  • Building Products
  • Oil and Gas
  • Real Estate
  • Depleting Assets Businesses (Mining, Forestry, etc.)
  • Banks and Lending Institutions
  • Heavy Manufacturing

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