How we underwrite, and what changes after close.

Earnings quality first

Before any operating thesis, the business has to stand on its own: real cash flow, a stable customer base, and an operating model with headroom. We read the customer concentration, the contract language, the pricing history and the labor model. A plan that only works if everything goes right is a plan we will not underwrite.

Structures are negotiated around what the owner needs. Some owners want a clean exit. Others roll meaningful equity and stay to build.

Margin expansion through productivity

We work with management to expand margin over the first two to three years by giving the team better tools. Routine, high-volume work gets automated so staff move to higher-value tasks. The judgment of senior operators gets captured and shared. Real-time visibility makes pricing, scheduling and capacity decisions sharper than they have ever been.

A services business that automates its way to a smaller team usually loses the capacity that made it valuable, so our plans are built around output per person rather than headcount reduction.

The people are the asset

The team, the culture and the institutional knowledge inside the business are what we are buying. Our job is to put modern infrastructure underneath the foundation the founder already built, and to bring an internal hiring and talent engine that most companies this size have never had access to. Viridis also takes on the back office, which removes a meaningful load from the founder.

Majority, and long term

We take majority positions because a multi-year operating plan needs one clear decision path and the capital to see it through. Management stays in the business and shares meaningfully in the upside. Founders can step back or keep building, whichever fits. We hold for the long term and we are not selling into a predetermined exit date.