Strategies

Investment Criteria

Sector: Service providers and equipment manufacturers focused on:  oil and gas development, production, and transportation; conventional as well as renewable/distributed power generation, and electric transmission and distribution.
Type of Investment: Control equity or minority equity with certain control provisions.
Stage Focus: Established multi-year operating history with positive EBITDA and little to no technology risk.
Transaction Type: Buyout/ownership transition and growth capital.
Investment Size: $2 million to $5 million of equity per company.  Transaction values ranging from $5 million to $20 million.
Geography: North America with a primary focus on the crescent that extends from the Appalachian shale gas region, through the rapidly growing Southeast region and into the southwest oil and gas producing region.  Our primary region of interest encompasses the following states: OH, WV, PA, VA, NC, SC, GA, AL, TN, MS, LA, TX, OK, NM.
Valuation: EBITDA multiples that are typical for established and growing businesses in the lower-end of the middle market.