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An Operationally Focused Private Equity Firm located in Denver, Colorado.

The Challenge…

Competition for investment has created a high-growth imperative that may be appropriate for certain easily-scalable businesses (software, consumer packaged goods, etc.), but is not sustainable for most. These companies, with growth prospects once considered great, find themselves having to choose between a high risk, high growth strategy to satisfy the markets, or a more appropriate strategy for their business. They solve physical problems for the world and have to deal with hard realities like lead times, working capital costs, machine limits and customer adoption curves that can’t be wished away. Those that go for the “quick win” often end up needing additional investment.  Those that choose the sustainable route prosper, up until the point that their current investors need liquidity.   This our opportunity.

What We Do…

We invest in small, undervalued niche market leaders that may be overlooked by equity markets because they lack sufficient growth, adequate scale, or are only selling partial equity. We apply skills honed through hard work in companies that solve physical problems to help our partners grow sustainably.  This approach satisfies an under-served demand for capital that is forced by distressed or fatigued sellers, while avoiding an ill-timed sale for other owners.  It also creates lasting value for investors, founders and employees, building a legacy that they can be proud of.

Why We Do It…

We like to build things.  We understand the risks of extreme growth and the physical constraints of businesses. We see value in companies beyond their current ability to deliver on exciting growth stories. We also appreciate the hard work and value stored in these organizations and understand that defensible value isn’t created by tricks, but focused dedication to solving problems for customers.