Investment Criteria

Transaction size

Enterprise value up to $250 million
EBITDA of $5-$25 million
No minimum size for add-on acquisitions

Geography

Company headquarters in North America

Industries

Aerospace & Defense
Dental Products
Life Science Tools and Equipment
Niche Industrials
Test & Measurement
Veterinary Products

Structure

Control investments
Minority investments with appropriate governance and/or a path to control

Transaction types

Management-led buyouts and acquisitions
Family/founder and shareholder liquidity
Corporate divestitures
Going private transactions
Industry consolidations
Growth equity

Company characteristics

Predictable and growing streams of cash earnings
High returns on invested capital
Defensible market position
Strong and committed management team