INVESTMENT FOCUS

Adirondack is actively looking to acquire businesses with owner-operators seeking full or partial liquidity as they transition out of day-to-day operations. Our acquisition structures are highly flexible and creative; however, we require a controlling interest: we are not minority investors. The business must be located in the United States (we have a preference for companies based in Minnesota and Tennessee) and should satisfy most of the following criteria.

Ownership Situation

Rapidly Growing Business	Retirement Ready
Entrepreneur / owner looking to exit Need experienced day-to-day management Would benefit from access to capital Owner looking to diversify personal wealth	Ready to transition out of a day-to-day operating role No successor in place Cares about the future of the organization and its employees

Financial Attributes

$5 to $25 million of revenue
$750K to $3 million of EBITDA
15%+ EBITDA Margins preferred
Consistent cash flow
Significant revenue growth
Limited capital expenditures

Industries of Interest

Click here for NAICS codes of interest

Value-added Distribution
assembly, kitting, or configuration
- Consumable and branded products
- B2B or B2C ecommerce
Light Manufacturing
- Niche products & markets
Business Services
Healthcare
- Services, distribution, and manufacturing

Adirondack will opportunistically look at most industries other than heavy manufacturing, construction, and brick & mortar retail.

Company Attributes

Consistent revenue growth
Diverse customer base with high retention rates
Recurring revenue and / or repeat customer base
Identifiable growth opportunities
Clear value proposition for customers
Sustainable competitive advantages
Positive company culture

Adirondack will not invest in a start-up company, a turn-around situation or a business with project-based revenue.