Criteria

We seek to acquire or invest in profitable middle market eCommerce companies.

Company Types

  • B2C & B2B eCommerce

    • Companies selling to business and/or retail customers
    • Highly defensible competitive position based upon any of the following business characteristics:
      • Branded proprietary products
      • Vertical integration
      • Customized or made-to-order products or services
      • Complex, technical and highly researched products or services
    • 24-month variable contribution per customer of at least $50
  • Marketing Services for eCommerce

    • Specialized offering serving eCommerce companies with differentiation based upon intellectual property and/or technology-enablement
  • Marketing Technology for eCommerce

    • SaaS tools and platforms serving eCommerce companies

Transaction Types

    • Majority re-capitalizations
    • Corporate carve-outs
    • Minority investments
    • Co-investments alongside other investment firms

Financial Characteristics

    • EBITDA positive to $50M in EBITDA

Add-ons

    • Customized or made-to-order products
    • Renovation Brands: Home improvement and building products companies selling direct
    • Guild Brands: Companies selling artist-made products
    • Boutique Brands: Female apparel brands enabling commerce through social media platforms