INVESTMENT PROFILE

We selectively pursue investment opportunities across the United States with a particular affinity for companies based in Texas or the South. We have a broad investment mandate but have a focus on the following:

Industries of Interest (in alphabetical order, not in order of interest)

  • Aviation & Aerospace
  • Branded Consumer & Retail
  • Education Services
  • Energy
  • Healthcare Services & Healthcare IT
  • Insurance & Financial Services
  • Specialty Distribution & Logistics
  • Specialty Manufacturing
  • Tech-enabled Business Services & Traditional Business Services

Transaction Structures

  • Primarily equity capital, but will selectively consider debt opportunities
  • Minority and control transactions
  • Ideally the first institutional capital
  • Capital used to:
    • Fund organic or acquisition-led growth

    • Recapitalize a company, buyout a shareholder, diversify founders' net worth

    • Acquire a minority piece of a business from founders or other shareholders

  • Economic alignment with company leaders through significant equity incentive plans tied to superior company performance

Company Traits

  • Energized, highly capable CEO and executive team
  • Profitable, growth-oriented private companies with established, proven business models
  • Defensible competitive positioning
  • Manageable seasonality, cyclicality, and commodity risk
  • Recurring revenue business models with strong free cash flow are a plus
  • Market leadership or path to market leadership with attractive medium-to-long-term industry fundamentals
  • Particular affinity for companies based in Texas or the South
  • Smaller platform with many of these characteristics in an industry ripe for consolidation coupled with a proven and highly competent CEO or executive team