Business Services

We believe that businesses will continue to rationalize their operations in order to focus increasingly on their core, value-added activities. As a result, functions historically performed within a corporation by the corporation are being outsourced to entities dedicated to providing that functionality at a higher level of expertise, across a broad population of customers and at a lower delivered cost.

Our interest in business services encompasses a range of business-to-business or outsourcing activities including:

• Printing and Communications
• Education and Training
• Finance, Accounting and HR
• Logistics and Facility Management
• Marketing Services
• Risk Management and Asset Management
• Information and Database Services

We look for Business Services companies with the following characteristics:

• Greater than $25 million of revenue and $5 million of EBITDA with minimal capital expenditure requirements
• Recurring revenue and sustainable profit margins
• High value placed on customer service and retention
• Technology enabled with proprietary information assets
• Diversified and referenceable customers
• Large (> $300 million) and growing end markets

Business service segments are commonly highly fragmented with significant economic and competitive advantages to scale. We seek to provide capital to management teams capable of serving as consolidators within their segment and to partner with those teams to execute a growth through acquisition strategy.

Representative Business Services portfolio companies include: