We aspire to partner with high quality people and managers to build businesses that are world class competitors in their chosen market niches. We are active investors but we do not run companies day-to-day. We are business builders, advisors to and partners with management. In particular, we help advise on operational and strategic issues and support management in executing their business plans, including executing financings, acquisitions, strategic initiatives and other capital markets transactions. We are equally comfortable taking an active board role approach or helping lead a new initiative for a platform company.

The building blocks of this strategy are captured in these fundamental concepts.

• Sound Business Fundamentals.
  Invest in operating businesses with a demonstrated track record of stability and profitability, and in high growth businesses with an established business model and a clear path to positive cash flow.
• Proprietary, Differentiated, and Mission-critical Services and Products.
  Focus on companies with strong positions in their market niche, or that have differentiated services or products that allow them to compete on a defensible basis.
• Long-term Vision.
  Pursue long-term value creation as a business owner and build platforms that perform well over time and through business cycles.
• Strong and Incentivized Management.
  Partner with experienced and proven management teams who run the day-to-day operations. Provide meaningful equity ownership and long-term incentive compensation opportunities for management so that our interests are directly aligned.
• Control.
  While we seek board control or significant influence, we are equally comfortable with majority and large minority investments. We leave operating decisions, responsibility and execution in the hands of our management teams and can provide complementary resources, oversight and strategic leadership to support the growth of each business.
• Teaming Up.
  Focus on teaming up with existing management and stockholders of companies as true partners to build and grow successful businesses together.
• Growth.
  Focus on companies that can sustain long-term organic growth and have the potential for accelerated growth through acquisitions, partnerships, or new products and services.

We call these businesses defensive growth companies. Beyond the initial investment, our platform companies are oriented to generate cash and to be run without the need for additional equity financing. We are willing to invest more capital for growth through acquisition.