We’re looking for stable, enduringly profitable businesses.

Some of the criteria we look for:

Industry

  • Highly fragmented; no single large competitor

  • Stable, low cyclicality

  • Growing (~2x GDP)

  • Low external risk factors (regulatory, technical obsolescence)

Financial

  • Annual revenue between $2M and $20M

  • Stable revenue growth

  • EBITDA of at least $300K

  • EBITDA margin of at least 10%

  • Ideal: Low capital and capex requirements

Company

  • High percentage of reoccurring/repeatable revenue

  • Diverse customer base

  • Strong market position

  • strong middle management and committed employees

Ownership

  • Private ownership with no succession plan (ideally retiring)

  • Owner seeking liquidity; motivated to ensure smooth transition

  • Company in need of additional management, capital and board expertise to continue to grow