Acquisition Strategy

Our strategy is to invest in well performing operational businesses in growing industries with annual revenues between $1 million and $20 million.

We follow the same disciplined investment process for each of our strategies.

■ Screen

We identify established middle-market companies in industries or markets poised to benefit from economic changes, secular trends, regulatory changes or market dislocations. We identify the deepest value portion of the investment universe, which becomes the focus of our research efforts.

■ Research

We conduct intensive fundamental research to understand the earnings power of the business, the obstacles it faces, and its plans for recovery. We seek to transform middle-market businesses into larger companies with industry leading market share and operating margins.

■ Team investment decision

A three-person portfolio management team makes the final decisions for each strategy. We establish a program of operational discipline and management focus to drive growth, increase profitability and improve cash generation.

■ Ongoing evaluation

We continuously monitor each investment to make sure we still believe that we got it right. We establish a close working relationship with a company's management and provide strategic direction, which supports growth-oriented plans.

■ Sell

We sell a security when it reaches the midpoint of our proprietary screening model which we judge to be “fair value.”