Vanward aims to invest in businesses that satisfy the following criteria:
Organisational Characteristics:
indispensable goods or services
recurring earnings or robust cash flow
strong management teams and investors who share our interests.
significant competitive advantages, defended market positions, and widespread product acceptance
Financial structures with an adequate margin for error
Investment hypotheses that are verifiable through exhaustive due diligence
identifiable acquirers even in less favourable operating environments
Investment Size:
$10 million to $125 million
Significantly larger quantities are invested through co-investments and limited partners.
Deal Types:
management buyouts
development initiatives
recapitalizations (including refunds of dividends)
balance account restructuring
Transitions in proprietorship and generational transfers
buy-and-build techniques
Mergers and industry consolidations
Company Measurement:
enterprise value of $10 million to $500 million
Structure:
a variety of securities that may include equity, subordinated debt, or a combination of the two
only invest in subordinated debt when we are significant equity investors.
Not Considered:
Energy products, start-ups, real estate financing, financial institutions or underwriters, and project finance.