Investment Criteria

We look to invest between £5 million and £25 million in businesses that demonstrate most if not all of the following characteristics:

    
      UK headquarters
    
    Senior management must be based in the UK, though we back companies with significant international sales or operations
    
      Lower mid-market
    
    Companies with EBITDA of between £2 million and £10 million
    
      Cash generation
    
    Stable cash flows from "sticky" revenue streams
    
      Attractive industry dynamics
    
    Sustainable growth in sectors driven by non-discretionary spend
    
     Solid historic performance
    
    Demonstrable resilience through downturns
    
      Experienced management
    
    High-quality team with successful track record within the business
    
      Committed ownership
    
    Managers tied into the business for the long term