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INVESTMENT CRITERIA

Key Company Characteristics

  • Headquartered in the Northeast Ohio

  • Tangible growth opportunities through organic and/or strategic initiatives

  • Strong management team in place – open to situations that require a transition

  • Business to Business orientation with a recurring revenue model

  • Prefer to avoid businesses with limited operating histories (e.g., start-ups)

  • Manageable customer concentration:

    • Top Customer: <35% of sales

    • Top 5 Customers: <50% of sales​

  • Differentiated and defensible competitive position

  • Leverageable technical capabilities

  • Entrenched customer relationships

Financial Profile

  • Revenue: Up to $20MM

  • EBITDA: Up to $2MM

  • Operating Margin: greater than 10%

  • Prefer to avoid businesses with recent “Hockey Stick” performance

Image by Kaleidico

Industries and End Markets Served

  • Niche manufacturing businesses

  • Growing and diversified end markets such as: aerospace, medical, engineered components, automotive, etc.

  • Businesses with operational expertise in: slitting, stamping, expanded or perforated metal processing, reel-to-reel processing, machining, machine building, extrusion, etc.

Image by Sven Daniel

Business Situation

  • Seeking control investments – open to previous owner and management transitions

  • No prior institutional ownership

  • Open to distressed or special situations with a compelling path to profitability

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