Investment Focus

Our Strategy:

We pursue investments in leading businesses where we have relevant industry experience and can help management teams successfully navigate their next stage of growth.
We seek differentiated, growing, market-leading platforms in the industrials, business services, and consumer sectors.
Our Investment Criteria
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Company Size

  • $5–$50 million in EBITDA
  • $75–$500 million of enterprise value
  • Add-on acquisitions of any size
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Investment Size

  • $50–$150+ million equity investment
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Investment Type

  • Primarily control investments with the ability to pursue minority investments on a selective basis
  • Founder-, employee- or sponsor-owned businesses, corporate carve-outs, and public-to-privates
  • Platforms with organic and / or buy and build growth opportunities
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Geographic Focus

  • North American-headquartered
Our Sectors
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Industrials

  • Process and Flow Control
  • Value-Added Distribution
  • Industrial Technology
  • Packaging
  • Industrial Services
  • Aerospace and Defense
  • Utility and Infrastructure Services
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Business Services

  • Facility and Support Services
  • Testing, Inspection, and Certification
  • Lab Services and Products
  • Business Process Outsourcing / Contract Manufacturing
  • Insurance Services and Distribution
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Consumer

  • Residential Services
  • Animal Health / Pet Products and Services
  • Specialty Ingredients
  • Food and Beverage Equipment and Distribution
  • Multi-Site, Franchisors, and Franchisees
  • Beauty and Personal Care Products and Services
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Phipps Conservatory, Pittsburgh, Pennslyvannia
We seek to partner with companies that possess the following attributes:
Proven, differentiated business models with attractive margins and cash flow profiles
  • Highly-engineered, mission critical, or “spec’d-in” products and services
  • Low product / service cost relative to value or cost of failure
  • High return on invested capital and / or cash flow conversion
  • Compelling unit economics with potential to scale efficiently
Strong, defensible market position in stable or growing end markets
  • Secular tailwinds
  • Demonstrated ability to gain market share
Stable and recurring demand drivers
  • Non-discretionary products, high switching costs and retention rates, and / or long term contracts
  • Recurring revenue streams, including parts, consumables, and services
Identifiable levers for growth and/or enhanced profitability
  • Positive, long-term organic growth
  • Platform for accretive acquisitions
  • Margin improvement opportunities
Strong management teams with a clear vision for future value creation
  • Experienced teams with a demonstrated track record of execution

Our Sectors

  • Facility and support services
  • Testing, inspection, and certification
  • Business process outsourcing / Contract manufacturing
  • Insurance distribution and services
  • Residential services
  • Animal health / pet products and services
  • Food and beverage: equipment, distribution, ingredients
    Franchisors, franchisees, and restaurants
  • Beauty and personal care products, services, and ingredients
  • Process and Flow Control
  • Value-added Distribution
  • Industrial technology
  • Packaging
  • Industrial services
  • Utility and Infrastructure Services
  • Aerospace and defense

Our Portfolio