Preferred Investment Criteria

• We are not constrained geographically in terms of making our investments. Preference for platform investments given to those in the greater Midwestern United States. Complementary/add-on investments are strategically located throughout the country.
• Companies with track records of verifiable profitable operations are preferred. Independently audited financial statements are favored; but not required.
• Reasonable multiples for asking prices that use a ‘normalized’ valuation approach.
• For platform investments, a management team already in place that is willing to stay onboard after acquisition.  Exceptions may include where the existing management team continues temporarily through a succession period and/or where new leadership is readily installed.
• Preference given to majority ownership investments. We will consider minority stakes that include clear paths for to majority ownership where contractually delineated strategies for assuming ownership, including put/call, buy/sell agreements.
• Minority-owned suppliers with proprietary products, technology, expertise, reputation or position operating in spaces whose customers have spending goals in this space but are not currently accessing the market. We are particularly interested in suppliers that provide goods or services to the federal government or its agencies.
• Income vs. growth companies with high recurring tax liabilities as a result of cash returns.