Investment Criteria
Transaction Profile
We are flexible in our structure and approach, but highly focused on what we seek:
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Ownership: Founder, family, or management-owned businesses
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Structure: Control or majority equity positions; founder sales, generational transitions, or management recapitalizations
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EBITDA: Typically $1–10 million, with flexibility for the right opportunity
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Geography: United States, with a preference for Southeast, Mid-Atlantic, and surrounding regions
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Partnership: Stable team and owner/family open to partnership
Industries and Markets
Our core sectors of expertise include industrial, consumer, business services, and real estate. Within these industries, we prioritize attractive sub-markets that exhibit the following characteristics:
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Products or services that are non-discretionary, less discretionary, and/or recurring in nature
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Markets where local and regional scale provide durable competitive advantage
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Segments with exposure to strong secular tailwinds driven by market growth and/or market substitution trends
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Industries that are fragmented at the local or regional level
Business Characteristics
We focus on companies with clear competitive differentiation, long-term demand tailwinds, opportunities for organic and inorganic growth, and a history of producing resilient cash flow. Companies of interest typically exhibit:
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Local or regional market leadership with differentiated products or services and defensible niche market positions
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Recurring or reoccurring revenue models driven by customer loyalty, non-discretionary demand, and/or entrenched local or regional market positions
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Compelling margin and cash flow profiles with a demonstrated history of financial stability
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Strong growth potential - both organically and through acquisition