Let's Work Together.
Reasons to Work Us
- We do what we say we're going to do.
- We have permanent, committed capital. We are currently investing out of a 27-year $50 million fund, with a renewal clause at year 25.
- We have designed our deal-making path to better ensure closing. We conduct financial due diligence in-house. We use little to no senior leverage in our deals, minimizing third party involvement. And we have a robust and experienced deal team.
- We exclusively invest in the lower middle market in North America.
- We can offer sellers a differentiated and compelling value proposition: we hold as a family does. This translates into a conservative financial approach, value in existing management, and a sincere commitment to all stakeholders.
Our Investment Criteria
- "Boring Business": Durable value proposition likely to be as relevant ~20 years from now as it is today
- Annual Revenues: $5 million to $200 million
- 3+-year Record of Annual EBIT: $2 million to $14 million
- Pre-tax net earnings must allow company to generate cash flow after all capital expenditure/reinvestment needs
- Day-to-day management in place, or a general plan for reasonable management transition
- Headquartered in North America
- Industry agnostic excluding energy exploration, real estate-dependent businesses, and independent restaurants
Contact Our Deal Team
Why We Love Intermediaries
Whether working on the sell-side or buy-side, we have found intermediaries to play an important role in most investment opportunities. Deal-making is hard for everyone involved, but a strong intermediary sets the table for success.
A strong intermediary sets clients' expectations.
Setting expectations is about more than just a monetary valuation. The market will determine what the company is worth, but a strong intermediary prepares a seller to enter the market to sell effectively. This includes tough conversations about everything from financial performance to personal management shortfalls to tax consequences. It's not an easy task, but these preparatory discussions ultimately put the seller in a better position to understand the priorities and nuances of finding the right investor for their particular situation.
A strong intermediary does heavy lifting.
Even the best run companies have information residing with multiple people in multiple forms in multiple locations. Buyers don't like to be surprised. A strong intermediary supports the assembly, prioritization, and presentation of information that will better attract the best suited investors.
A strong intermediary supports the "right" match.
Most sellers that don't desire for their company to be eaten up by a large corporation are looking for something beyond money. Whether it's management support, shared values and vision, or a growth plan, there are quantitative and qualitative considerations. A strong intermediary spends time clarifying details, searching for organizations, and holding the necessary discussions to ensure the "right" match, and not just the highest bid, wins out in the end. They can also be helpful in separating sincere offers from, well, offers that will likely be manipulated later in the process.
A strong intermediary keeps everyone focused on the end goal.
Every deal is hard. Lawyers and accountants don't mean to be difficult, but they're slow to give approval. In the meantime, business dynamics continue to change and realities set in for both seller and buyer. It's easy for one or more parties to get side-tracked, offended, confused, or downright frustrated. It's generally not out of malice, but it's a high stakes, highly emotional process. A strong intermediary helps to diffuse emotions, reach consensus, and see the deal through to closing.
At adventur.es, we've successfully closed multiple transactions with the support of talented intermediaries. We highly respect the role and responsibilities of each intermediary and look forward to the opportunity to work with more intermediaries in the future.
What Intermediaries Should Remember About Adventur.es
Hold With No Intention Of Selling
Operator Mindset & Experience
Curret Portfolio Of 7 Companies
(Manufacturing, Commercial Construction, Residential Construction, Consumer Goods, Business Services, Recruitment)
Love Boring Businesses
How We Work With Intermediaries
We're happy to dive into an opportunity at whatever stage you're ready to show it to us, whether that's a fully produced CIM or data room, or a quick call and some summary financials.
We work with both sell-side and buy-side intermediaries regularly. The only people we avoid working with are those trying to collect fees from both sides.
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