INVESTMENT CRITERIA
What We Look For
We focus on a specific corner of the lower middle market — and we know it well. Here’s what we look for and how we work.
Target Profile
Established businesses with durable cash flow.
We acquire companies with the following characteristics.
EBITDA range of $2.5M–$12M with revenue of $5M–$30M. Lower middle market businesses with established operations and 3+ years of profitability.
Specialty chemicals, niche manufacturing, and industrial and B2B services — including field services, specialty distribution, equipment dealers, and commercial services.
U.S. Heartland and Eastern regions, with particular depth in the Midwest and Northeast.
What We Value
Three sectors. Deep conviction.
We focus exclusively on specialty chemicals, niche manufacturing, and industrial B2B services. Operational complexity creates barriers to entry. Technology can generate meaningful efficiency gains. We evaluate each business on its own merits.
We are holders, not flippers. Patient capital, long time horizons, and no forced exits.
Recurring Revenue
Customers who come back. Relationships built over years, not one-off transactions. The kind of revenue you can build a business on.
Established Operations
Three or more years of profitability with a proven business model and real operating history.
Ownership Transition
Founders, families, or corporate parents seeking a long-term partner — not a quick flip.
Our Partnership
What we bring to every partnership.
After close, we go to work. We embed with management teams, deploy technology, and build the infrastructure that turns a good business into a durable one.
Technology & Operations
We identify and implement technology improvements that reduce costs and improve margins.
Management Infrastructure
We build out management infrastructure for scalable growth and source add-on acquisition opportunities.
Patient Capital
Our capital structure means we’re never forced sellers. We hold through full value-creation cycles and let compounding do the work.
Think your business might be a fit?
Whether you’re a founder exploring options, an intermediary with an opportunity, or a capital partner — we’re here when you’re ready.
Reach Out to Our Team