BBH seeks to invest in companies that demonstrate many of the following characteristics:
| Company Characteristics: |
- Essential products or services
- Recurring revenues or strong free cash flow
- Strong management teams and investors whose interests are aligned with ours
- Meaningful competitive advantages, defensible market positions, and broad product
acceptance
- Financial structures that provide a reasonable margin for error
- Investment theses which are verifiable by thorough due diligence
- Identifiable acquirers even in less favorable operating environments
- Headquartered in North America, although may have international operations
|
| Investment Size: |
- $10 million to $50 million
- Substantially larger amounts with co-investments and Limited Partners
|
| Deal Types: |
- Management buyouts
- Growth initiatives
- Recapitalizations (including dividend recaps)
- Balance sheet refinancings
- Ownership transitions and generational transfers
- Buy and build strategies
- Acquisitions or industry consolidations
|
| Company Size: |
- Revenue of at least $20 million and at least $3M of EBITDA
|
| Structure: |
- Range of securities including equity, subordinated debt or some combination of the two
- We only invest subordinated debt in transactions where we are significant equity investors
|
| Not Considered: |
- Start-ups, real estate financings, financial institutions or underwriters, energy products and
project finance
|
