INVESTMENT CRITERIA

Sales: $10 - $100 million

Location: Continental USA

Earnings: Trailing twelve month Earnings before Interest, Taxes and Owners Compensation (EBITO) in excess of 10% of revenue and greater than $2.5 million

Type of Business: Manufacturing and service across a wide variety of industries

Situations: Recapitalizations, management buyout, generational changes of ownership and corporate divestitures

We do not invest in: Retail, real estate (except as it relates to an operating company), natural resources, turnarounds, distressed companies or startups

Other items of interest: Quality leader in the Company's segment, diverse customer base, largest player in an identified market