We target established companies with enterprise values between $15 million and $150 million, focusing on opportunities where strategic guidance from an experienced equity partner and the availability of capital can renew or accelerate a company’s growth prospects. We concentrate our investments in companies either based in or with significant operations in the Southwest, a region where our principals have deep roots in the business and financial community.

We focus on identifying scalable businesses with untapped growth potential in a variety of industries where we possess significant investment experience and success including:

• Niche manufacturing
• Value-added distribution
• Business and industrial services
• Healthcare
• Consumer products
• Media and entertainment
• Aerospace

We prefer companies that exhibit the following characteristics:

• Revenues between $10 million and $150 million
• Minimum EBITDA of $3 million
• Well-established business with predictable cash flow
• Sustainable competitive advantage
• Margin improvement potential and opportunities to add value through acquisitions
• A proven management team with a meaningful equity ownership

We typically invest between $5 million and $25 million of equity in transaction opportunities that include:

• Buyouts — providing equity capital to back management teams acquiring lower middle-market private companies and non-core divisions of larger companies
• Recapitalizations — aiding business owners in achieving significant liquidity while retaining a stake in the business, or facilitating the intergenerational transfer of the ownership of a business with the strategic and capital resources of a strong operating partner
• Build-ups and buy-and-builds — helping companies in fragmented industries attain a stronger competitive position through strategic acquisitions
• Later-stage growth capital — providing equity capital to businesses with a solid market opportunity and a proven product or service, helping them achieve their full potential