We are looking for well-managed and profitable acquisition targets that meet the following criteria:

Business Characteristics:

- Solid history of profitability
- Diversified, stable customer base with long-term relationships
- Operate in a large, fragmented industry or have a leading, defensible position in a profitable niche
- Have a solid second-level of management in place
- Concentrated ownership with an incentive to sell

Financial Characteristics:

- EBITDA of $2MM or more (15%+ of revenues)
- Positive Free Cash Flow
- Revenues between $10MM and $75MM

Geography:

- United States