Our Approach
Technology-Focused. Value-Oriented. Principal-Led.
We buy middle-market technology companies requiring strategic, operating or capital structure transformations. Across technology cycles our approach remains the same. Find businesses where the customers will give us the time to get the operational transformation right.
Transaction Size
$25M to $125M equity checks for control transactions wtih companies generating $25M to $250M in revenue.
Core
Sectors
Deep sub-sector expertise across Infrastructure Technology, Cybersecurity and Hardware & Data Services.
Company
Profile
Moderate growth or declining businesses requiring low leverage at entry to allow flexibility for operational turnarounds.
Return
Targets
Underwriting 4x+ base case returns with significant downside protection.
Sourcing Strategy: Unnatural Owners
Lenders
Distressed assets currently controlled, or likely to be controlled, by debt providers.
Founders
Partnering with founders to solve acute operational roadblocks or ownership succession challenges.
Venture Capital
Second and third-quartile portfolio companies with great products but smaller addressable markets.
Public Markets
Take-privates of under-appreciated public technology companies with under $500M TEV.
value Creation Playbook
AI Acceleration
Leveraging AI to compress development cycles, automate routine operations, and secure product advantage before competitor’s pivot.
Cost Structure Realignment
Optimize the product/market fit. Cut what does not support the product: go-to-market, COGS, back office.
Growth Acceleration
Fix the bottlenecks that are capping a usable product: Price, mix, go-to-market model Â