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Investment Profile

Our investment period has ended and we are no longer investing. Visit to learn more about our next chapter.

Investment Criteria

Stage of Development

Established businesses with a history of profitability and sustainable cash flow. Will not invest in early-stage businesses or in turnarounds

Company Size

EBITDA of at least $2.0 million


Must have a strong team with solid track record in place or already identified as part of an acquisition. Meaningful ownership stakes and appropriate incentives are critical

Investment Purpose

  • Growth Capital
  • Strategic Acquisitions
  • Ownership Transitions
  • Recapitalizations


Targeted industries include chemicals, consumer products, business services, distribution, and niche manufacturing. We do not invest in real estate, mineral exploration, financial institutions or businesses involving a significant bet on the evolution of specific technologies or with high risk of technological obsolescence


Located in the United States


Will invest in unsponsored transactions. Will co-invest with other funds


Generally do not seek a controlling interest

Investment Structure


Generally a second security interest in collateral as part of a subordinated debt financing, subject to a subordination agreement with the senior lender


2-3% closing fee, plus out of pocket expenses

Granted Equity

Generally receive granted equity or detachable warrants with a put option

Current Yield

Typically 10-14% p.a. in interest or dividends


Debt repayment generally within 5 years but will hold equity for longer periods

Transaction Size

$3-15 million per company

Type of Security

Preference for subordinated debt with granted equity, but will consider redeemable preferred equity where appropriate


Board seat or observation rights to board meetings. Do not typically control or actively manage businesses in which we invest, but serve as strategic advisers and financial partners