Detailed Acquisition Criteria

We seek Industrial Manufacturing, Distribution and Service companies that have a history of profitable operations. It is our desire for management to remain or for the second tier of management to move up. Standalone companies need to have a sales volume of at least $15 million, while add-ons can be of any size. We do not require standalones to be 'strategic' or 'synergistic'. We prefer companies to be headquartered in the United States and/or Canada.

We seek privately held or public companies that can fit as standalone acquisitions or add-ons to our existing operations.
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• Our primary interest is in Industrial Manufacturing, Industrial Distribution, and Industrial Service companies.
• We look for companies with annual revenues of up to $150 million that are headquartered in the United States and/or Canada. The company can have locations anywhere in the world.
• The company must have a history of profitable operation. We have no interest in start-up or turnaround situations.
• It is our desire to retain capable existing management or to work with a transitional management team. We will operate using periodic reports and a Board of Directors.
• The acquisition price of the company can be up to $150 million.
• Acquisitions will be made with cash.
• We require control. While we prefer to acquire 100% ownership, management participation is a possibility.
• We are interested in privately or publicly held companies including corporate divestitures.

	Standalone	Add-ons
Sales Volume	Minimum of USD 15 million	Not critical
Minimum Profits	USD 1 million pretax (Midwest) USD 1.5 million ​(other regions)	History of profits
Profit History	​History of profits NO turnarounds NO startups/venture capital	​History of profits
Management Requirements	Prefer entire team remain. Can work with retirement plans and orderly succession of second level management	​Flexible; will need to review staff levels/overlaps
Purchase Price	Up to USD 150 million	No min/max set
Deal Structure	All cash purchase, can accommodate seller's tax needs	All cash purchase
Ownership	​Prefer 100% Management participation a possibility via the use of Phantom Stock	100% required