Since our founding, we have focused on the lower middle market where we have found the most meaningful value creation potential.

Targeted and consistent investment criteria.

Transaction types

  • We make control equity investments in management-led recapitalizations — looking to back business owners and management teams

Lower middle market focus

  • Deal sizes typically between $25 million and $150 million for platform investments
  • Equity investment sizes generally between $10 million and $30 million, with ability to tap our network for co-investments to commit significantly more equity

Stable and mature cash flows

  • Companies with stable cash flow trajectory, generally with EBITDA greater than $5 million
  • Predictable capital needs in support of existing business

Midwestern values

  • Business owners and management teams who share our values — we place a premium on cultural alignment

Sector focus

  • Our sectors of expertise include specialty manufacturing, value added distribution, consumer products, and business services.

Attractive business attributes

  • Management teams with a vision and aptitude for growth
  • Strong and healthy company culture
  • Compelling value proposition
  • Market leaders with a competitive advantage
  • Actionable growth opportunities