Investment Criteria
WE INVEST IN LOWER MIDDLE MARKET COMPANIES THROUGHOUT VARIOUS STAGES OF THE COMPANY LIFECYCLE. WE PARTNER WITH MANAGEMENT TEAMS AND LIKEMINDED CO-INVESTORS TO IDENTIFY FINANCING SOLUTIONS THAT WILL MEET THE OBJECTIVES OF ALL STAKEHOLDERS AND POSITION OUR COMPANIES FOR GROWTH.
FINANCIAL CHARACTERISTICS
REVENUE: Greater Than $10M
EBITDA: Greater Than $1M
ENTERPRISE VALUE: $5M – $75M
Healthcare or B2B Services
United States Based
INVESTMENT STRUCTURE
$5M – $20M Investments
Mezzanine Debt
Preferred Equity
Common Equity
Control or Non-Control
TRANSACTION TYPES
Minority Growth Capital
Recapitalizations
Buyouts
Acquisition Financing
Platform Buy-and-Build
Independent Sponsor Transactions
HEALTHCARE
HEALTHCARE INVESTMENT THEMES
- ACCESS TO CARE
- LOWER COST CARE SETTINGS
- AGING AT HOME
- VALUE BASED CARE
- INTEGRATED CARE
- PEDIATRIC AND ADOLESCENT CARE
HEALTHCARE AREAS OF INTEREST
HEALTHCARE SERVICES
A variety of provider models and services organizations working across several medical specialties.
PHYSICIAN PRACTICE MANAGEMENT
MSO’s and physician practices in a variety of areas of medicine including cardiology, podiatry, ENT, dental, and others.
BEHAVIORAL HEALTH
A wide array of behavioral health services including, autism, IDD, addiction treatment, CBT, and psychiatry in both outpatient and inpatient settings.
ELDERLY CARE
Serving patients in a variety of post-acute care settings including skilled nursing facilities, home health agencies, and hospice.
VALUE BASED CARE
Healthcare businesses either engaged in or promoting alternatives to traditional fee-for-service reimbursement.
HEALTHCARE ENTERPRISE MANAGEMENT
Services providers enabling more efficient healthcare operations in areas such as revenue cycle management, asset management, and patient access.
B2B SERVICES
B2B SERVICES INVESTMENT THEMES
- ASSET LIGHT
- RECURRING OR HIGHLY REOCCURING REVENUE
- STRONG INDUSTRY GROWTH
- DIFFERENTIATED OFFERING
- TECHNOLOGY ENABLEMENT
B2B SERVICES AREAS OF INTEREST
BUSINESS PROCESS OUTSOURCING
Outsourced HR & administrative, regulatory & compliance, marketing & sales, and legal services.
IT SERVICES
Ongoing IT support, including MSPs, select implementation providers, and cyber security services providers.
INDUSTRIAL SERVICES
Automation and robotics system integrators and other service providers moving clients to Industry 4.0.
PROFESSIONAL SERVICES
Corporate training, marketing and advertising services, and other niche consulting services.
FACILITY & FIELD SERVICES
Residential services and facilities services such as HVAC, landscaping mechanical, pest control, building systems and elevators.
CONTRACT MANUFACTURING
Asset light, high margin contract manufacturers serving high growth end markets.