Industrial Renaissance is an ideal choice for business owners considering selling their business as part of their estate planning and public companies considering divestitures of subsidiaries and divisions.
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| Universal Criteria |
- To consider a company as an investment candidate, our investment principals, operating partners and investor pool must be able to add value to the business going forward
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| Industries |
- Consumer-oriented companies
- Personal care
- Apparel
- Household products
- Food and beverages
- Health and Wellness
- Giftware
- Services
- Manufacturing
- Direct and outsourced business service
- Multi-channel distribution (direct response, Internet, catalog)
- Industrial-based products
- Logistics and supply chain management
- Specialty retailing
- Companies in fragmented industries
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| Revenues |
- Platform acquisitions: Mature companies and corporate divisions with established historical revenues between $50 million and $1 billion
- Add-on acquisitions: Size is not relevant, but generally $25 million and greater is preferred
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| Earnings |
- No minimum or maximum earnings/EBIT
- We prefer companies with positive cash flows
- However, we have also acquired unprofitable companies, conducted a thorough analysis of profitability issues, and worked through successful turnarounds
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In addition to Strong Performers, we also consider Underperforming Companies. |
An underperforming company may contain some or all of the following characteristics:
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- Operational improvements and new business practices can yield substantial value
- Absence of an executive leader or gaps in management team
- Liquidity-constrained balance sheet
- Opportunities for cost reduction
- Opportunities for inventory reduction and working capital improvement
- Opportunities for customer service level and lead-time improvement
- Little reliance on historical earnings for transaction pricing. Importance of "NEBIT" (next year's EBIT)
- Belief that better management can capitalize on specific product positioning and generate significant revenue gains even in industries that are growing at modest rates
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