Transaction Types
We focus on equity investments of $5-$100 million, with the ability to invest additional equity capital through partnering with like-minded co-investors, to support a wide range of transactions and situations:
Generational Changes of Ownership We offer owners of family businesses complete or partial liquidity while providing an active role for subsequent generations and working to preserve a company's culture and legacy. Growth Capital We invest in companies seeking capital to finance internal growth, add-on acquisitions or reduction of financial leverage. Management Buyouts and Leveraged Buyouts We acquire small to mid-sized businesses or divisions of larger companies that can benefit from an energized financial and strategic partner. Recapitalizations We provide owners of closely held businesses with liquidity while allowing them to retain significant ownership and day-to-day operational control. Buy & Build We look to pursue consolidation plays in highly fragmented industries where there are significant benefits to a larger scale and an opportunity to gain efficiencies in sourcing, route density and other synergies, while expanding rapidly and driving a material multiple arbitrage at exit. Turnarounds Profitable companies with a defensible market niche and strong asset base may underperform earnings potential due to management or ownership circumstances that are not optimized. We seek to improve the efficiency and profits of these firms by working and investing with revitalized management. We will consider restructuring and operational turnarounds on a selective basis where there is a clear path to recovery. Carve-outs When an unloved under-capitalized asset is freed from the constraints of a much-larger corporate entity, there is the potential to unlock great value. We can help the management team to reorganize to fit the new standalone structure, without the need to toe a broader strategic line that is out of sync with the core business. With these transactions the success is in the detail, and our knowledge allows us to take a holistic view of the carve-out, not just on the corporate and tax structuring, but also in other crucial areas such as employment, pensions, real estate and cash repatriation. Mezzanine Debt We will consider sub-debt investments under certain circumstances, preferably alongside an equity investment. |
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