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Investment Profile

Brown Brothers Harriman seeks to invest in companies that meet the following criteria:

Company Characteristics:

  • essential products or services
  • recurring revenues or strong free cash flow
  • strong management teams and investors whose interests align 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:

  • $20 million to $100 million
  • substantially larger amounts with co-investments and limited partners

Deal Types:

  • management buyouts
  • growth initiatives
  • recapitalizations (including dividend recaps)
  • balance sheet refinancing
  • ownership transitions and generational transfers
  • buy-and-build strategies
  • acquisitions or industry consolidations

Company Size:

  • enterprise value of $50 million to $500 million

Structure:

  • range of securities including equity, subordinated debt, or some combination of the two
  • only invest subordinated debt in transactions where we are significant equity investors

Not Considered:

  • startups, real estate financing, financial institutions or underwriters, energy products, and project finance