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: $10M – $75M
Healthcare or B2B Services
United States Based
INVESTMENT STRUCTURE
$10M – $25M 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
- SOLVING ACCESS CHALLENGES
- SITE OF CARE OPTIMIZATION
- CONSUMER DRIVEN HEALTHCARE & PATIENT EMPOWERMENT
- HIGH COST, HIGH COMPLEXITY PATIENT POPULATIONS
- INNOVATIVE CARE & PAYMENT MODELS
- APPLICATION OF EMERGING TECHNOLOGIES
HEALTHCARE AREAS OF INTEREST
MULTI-UNIT PROVIDER SERVICES
Behavioral and mental health, post-acute care, women’s health & fertility, specialty dental, ASC management.
NOVEL TREATMENT MODELS
Risk-based primary care, hospital at home and advanced home care, ESRD & CKD care models, PACE, PPEC.
PHARMA SERVICES
Infusion services, outsourced commercialization and clinical trial support services, patient access solutions, specialty pharma.
CONSUMER HEALTH & WELLNESS
Concierge health and membership models, functional health and alternative care modalities, longevity & preventive health clinics, nutrition as medicine.
HEALTHCARE IT & TECH ENABLED SERVICES
Tech enabled disease management and population health, revenue cycle management, enterprise asset management, payment solutions.
PAYOR & EMPLOYER SERVICES
Health plan and network services, transparent PBM models, cost containment and member engagement solutions, TPA platforms, benefits management solutions.
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.