Investment Criteria

We seek opportunities with the following business, industry, financial, and management characteristics.

Business

  1. Stable customer relationships with recurring revenue
  2. Operates in niche markets and provides a clear customer value proposition
  3. Strong potential for organic growth and/or industry consolidation

Industry

  1. Sizable and growing market
  2. Fragmented competitive dynamics
  3. High customer switching costs

Financial

  1. EBITDA between $1 and 15 million
  2. History of consistent cash flow generation
  3. Low to modest annual capital expenditures

Management

  1. Experienced and capable management teams
  2. Common vision and operating principles
  3. Bias towards growth

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