Investment Criteria
What we are looking for
A short, honest list. If a business meets most of it, we would like to see it — and if it does not, we will tell you quickly.
The Parameters
Company profile
- IndustriesNon-emergency medical transportation; waste hauling, dumpster rental, transfer stations and landfills; residential home repair including HVAC, plumbing, and garage doors.
- OwnershipFounder-owned, family-owned, or closely held businesses facing a retirement or succession decision.
- Company sizeSmaller companies with a demonstrated track record of positive cash flow. Businesses of this size face a common set of growth challenges that fit our skills well.
- Transaction sizeTransactions generally below $5MM, with flexibility for the right platform or add-on.
- GeographyUnited States, with a preference for markets where we can build route or service density.
- Transaction typesFull exits, owner transitions with continued involvement or rollover equity, and co-investment opportunities.
- SituationWe do not expect a perfect business. Owner dependence, deferred systems investment, and an unpolished back office are normal — and often exactly where we add value.
Strong fit
- Recurring or contracted revenue
- Consistent, positive cash flow across cycles
- An established local reputation and referral base
- A capable team that wants to keep going
- A defined service territory with room to add density
- An owner ready to transition on a clear timeline
Usually not a fit
- Pre-revenue or venture-stage companies
- Turnarounds with sustained operating losses
- Businesses that depend entirely on the owner selling
- Heavy single-customer concentration with no contract
- Startups seeking growth capital rather than a sale
Not Sure?
Send it anyway.
Criteria are a starting point, not a gate. If the economics look like ours, we would rather see it and pass than miss it.