| We prefer not to swing
at 100 mph fastballs. We'd much rather swing at hanging curveballs
that offer superior returns on a risk-adjusted basis. To us,
this means investing in businesses with established profitability,
management, and growth prospects.
The following investment approach outlines the
types of investments we prefer to make:
| Investment Size: |
$10 million to $100 million. |
| Stage: |
Established companies; expanding or distressed. |
| Use of Capital: |
Buyouts, recapitalizations, organic growth,
and acquisition growth. |
| Management |
Capable, motivated management with a proven
track record. |
| Securities: |
Equity-only or debt with equity participation. |
| Time Horizon: |
Our long-term focus allows us to hold good
investments forever. |
| Geographic Focus: |
United States |
| Common Traits of Portfolio
Companies: |
- Management with an ownership mentality
- High returns on invested capital
- Revenue is recurring in nature
- Attractive growth prospects
- Durable competitive advantage
|
|
