Investment criteria
Companies slightly outside these ranges are still worth sending if the operating profile fits.
Revenue$2M to $20M
EBITDA$1M to $5M
Investment typeMajority
Founder-owned
Founder-owned
GeographyUnited States
Our focus
Entrenched, essential services businesses in large markets
We favor durable demand, a large addressable market and meaningful barriers to entry, including the regulatory and operational complexity that keeps new entrants out. We look first for recurring or contracted revenue, an operating model with room to improve and an owner ready for a partner.
Process
From teaser to close
- 01ReviewYou send the teaser. We respond within two business days with a yes or a no, and the reason behind it.
- 02NDA and information requestWe sign, then send a focused request sized for a founder who has never been through a process.
- 03Indication of valueA range with the basis shown, so the seller and the broker can see how we arrived at it.
- 04Confirmatory diligenceQuality of earnings, customer, contract and regulatory review, and an operating plan built together with management.
- 05CloseDocumented, funded and followed by the operating plan agreed in step four.