The funds invest in both privately and publicly held businesses. The firm is opportunistic in selecting industries and geographic regions in which to invest. The firm's senior principals have experience in consumer products, business and consumer services, defense, manufacturing, value-added distribution, media, healthcare services and restaurants.
Most of the companies in which the firm invests exhibit the following characteristics:
- Minimum operating cash flow of $5 million
- Experienced management team with a successful track record
- Predictable cash flows with low technology and market risks
- Strong customer relationships
- Products, services or distribution channels with distinctive competitive advantages
- Demonstrated growth strategy
Investments range from non-control debt and equity financings to controlling equity investments. The firm's funds initially invest between $5 million and $75 million per issuer, with additional capital available for growth. For larger transactions, the firm will also arrange for additional equity or debt capital to supplement its investment.
The firm does not pursue investments in high technology, biotechnology, pharmaceutical, telecommunications infrastructure, oil and gas exploration, re-lending or passive real estate businesses.
